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Copy initials answer
This screencast is on iterative solving using excel. A lot of times this is used to solve a circular calculation where we might have a calculation involving one or many formulas. We have an estimate for our x and then we have an answer that is x. Then we keep going through this iteration and for the solution to be correct the estimate going in must be equal to the output or the answer coming out of the calculation. We are going to go through a simple example in excel. This is often used to solve things like when x is a function of x. For example x is equal to one divided by the sin of x. We provide an estimate and then we have an answer. For our example we have an estimate that we start with which provided the answer. Then we will keep on taking that answer and putting it back into the estimate and hopefully if you set it up right it will converge to a nice value where we have x is equal to one over the sin of x. In excel we have our initial estimate for x which is 0.5. The output to that is then going to be used as the input for the next iteration. I am going to put a pointer here. The input for the next iteration is the output from the first. I can then copy this formula down and if I fill down about 8 iterations we see that the output of 1/sin(x) is approaching what we put into it. We can put in an estimate and an answer and keep going. If we plotted that you see that as we increase the iteration we approach a constant x. This is iterative solving. Another way to do this in excel is called iterative solving and you can enable the iterative solver. I am going to put in just a guess for x which will be our initial. Then I will have 1/sin(x). I am going to first enable iterative solving in file, options, formulas and then here on the right enable iterative calculation. For now I am going to put in a 1 because I want to show you how you can do this step wise. I click ok. Now to do iterative solving the output which is 1/sin(x) is not going to be the input for the next x. I am just going to put a formula here of equals this. If you do not have iterative solver enabled it will give you an error. I press enter. Now the iterations that I have set to one you will see that the output now is the first iteration. It matches the output. If I go up here to file and change the maximum iterations to 100 I am going to restart this to show you. It did automatically do it but I will put in 0.5 and have the formula down here. If I do equals this it converges on something that is very close to 1.114 which is very close to the solution. Whenever you have something x equals a function of x you might want to think iterative solving.
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