Final answer:
Goal Seek in Microsoft Excel allows you to specify an output value and find the input value needed to reach that goal.
Step-by-step explanation:
The statement is a) True.
Goal Seek is a feature in Microsoft Excel that allows you to specify a desired output value and find the input value needed to achieve that goal. It works by performing a backward calculation, adjusting the input value until the desired output value is reached. This feature is commonly used in financial analysis, engineering, and other fields where finding the solution for a specific goal is desired.
For example, let's say you have a sales forecast spreadsheet and you want to know how many units you need to sell to achieve a certain revenue goal. You can use Goal Seek to specify the revenue goal as the output value and the number of units sold as the input value. By running Goal Seek, Excel will determine the exact number of units needed to reach the desired revenue goal.