Discuss the difference between using a two-variable data table and calculating elasticity when analyzing costs
What will be an ideal response?
A two-variable data table can help analyze how different values in two variables in one or more formulas change the results of those formulas. For example, a two-variable data table can show how changes in loan amounts and interest rates can affect the monthly payment on a loan. Two-variable data tables can be used in a wide range of analysis in Excel. An elasticity calculation shows the responsiveness of a product if there are changes in price and demand.
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