(a) Discuss why ‘What-if analysis’ plays an important role in modelling process.

(b) A Projected Income of Sam Sweet is in the excel file “Q3 data - Income Statement of Sam Sweet.xlsx”. Perform three what-if analyses: scenarios, data tables, and Goal Seek.

For each of the three analyze, 

• Clearly identify the input/changing and output variables

• Insert the corresponding screenshot for the result of the analysis

• Briefly interpret the results

Sam Sweet Income Statement For the Years Ending Dec 31, 2019 Revenue 2019 Sales revenue 95, 000 (Less sales returns and allowances) Service revenue 62, 000 Interest revenue Other revenue Total Revenues 157, 000