You are an owner of a logging company looking to bid on the plots you plan to cut this year. You need to perform some analysis of the risk, reward, and break-even points based on how many plots you purchase, the average production per plot, and the cost you pay per plot. Historically, the distribution of the type of trees on these plots are consistent and the price for each type of tree have been estimated for the season.
Range Names
You need to configure the range of input data to simplify the creation of the formulas used by Excel’s Analysis tools.
a. Open Assignment 2 data file and save as Assignment 2_LastFirst.
b. Open the Breakdown worksheet and create from Selection new named ranges for the existing inputs in cells B2:C14.
c. Assign the name Number_of_Plots to cell C3.
d. Edit the formula in cell C14 to use the named ranges instead of the cell references.
Goal Seek
You had to purchase new machinery to harvest the wood for this season. You need to determine how many board feet you need to average to cover the cost of the new machinery.
e. Use Goal Seek to determine what the Average Board Feet must be if you bid on 200 plots at $150,000 each to cover your $2.5 million machinery cost.
Answer Question on the Questions worksheet.
One-Variable Data Table
You need to perform some analysis on Gross and Net Profit based on different averages of board feet per plot.

Complete a series of substitutions starting in cell F4, starting at 10000 in increments of 500 and a max of 13000, going down vertically.