This article is part of my series: **What-If Analysis in Excel – A Step by Step Complete Guide. **In this article, we’re going to create a **two-variable data table **in** Excel**. A two-variable **data table** lets you use** two cells** as input. In the following figure, we have shown you a setup of a** two-variable data table**.

Although you may find that this setup looks similar to a one-variable data table, the **two-variable data table** has one important difference: The** two-variable data table **can show the results of only** one formula** at a time. On the other hand, in a one-variable data table, you can place any number of formulas, or references to formulas, across the top row of the table. In a **two-variable table**, this top row holds the values for the second input cell. The upper-left cell of the table contains a reference to the single result formula.

We have worked with a mortgage loan worksheet in our **one-variable table** article. We could create a two-variable data table using that mortgage loan worksheet that would show the results of a formula (say, monthly payment) for various combinations of two input cells (such as interest rate and down payment percent). You can create multiple **data tables** (one-variable or two-variable data table) to see the effects on other formulas.

## Download Working File

Download the working file from the link below:

## 3 Examples to Create a Two Variable Data Table in Excel

Here, we have used some examples in this article to work with the** two-variable data table**. Furthermore, we will show you **3** examples of how to create a** two variable data table** in Excel.

### 1. Creating Two Variable Data Table for Direct Mail Profit Model

In this example, a company wants to make a **direct-mail promotion** to sell its product. This worksheet calculates the** net profit** from the **direct-mail promotion**.

This data table model uses** two** input cells: the** number of mail sent **and the expected** response rate**. Also, there are some more items that appear in the** Parameters **area.

Now, we will explain how we find those parameters.

**Printing Costs per Unit:**This is the cost to print a single mail. You know, the unit cost varies with the quantity:**$0.25**each for quantities less than**200,000**;**$0.18**each for quantities of**200,001**through**300,000**; and**$0.15**each for quantities of more than**300,000**.- Thus, we have used the following formula in the
**C9**cell.

`=IF(C5<200000,0.25, IF(C5<300000,0.18, 0.15))`

**Mailing Costs per Unit:**It is a fixed cost,**$0.30**per unit mailed.

**Responses:**The number of responses, is calculated from the response rate and the number mailed.- So, the formula in this cell is the following:

`=C5*C6`

**Profit per Response:**It is also a fixed value. The company knows that it will realize an average profit of**$18.50**per order.**Gross Profit:**This is a simple formula that multiplies the profit-per-response by the number of responses using this formula:

`=C11*C12`

**Print + Mailing Costs:**This formula calculates the total cost of the promotion:

`=C5*(C9+C10)`

**Net Profit:**This formula calculates the bottom line — the gross profit minus the printing and mailing costs.- Thus, we have used the following formula in the
**C15**cell.

`=C13-C14`

Now, the following figure shows the setup of a** two-variable data table** that summarizes the** net profit** at various combinations of **mail numbers **and **response rates**.

- Here, enter the
**Response Rate**values in**G4: N4**. - Then, insert the
**Number of Mail**values in**F5: F14**. - Now, select the data range
**F4:N14**. - Then, from the
**Data**tab >> go to the**What-If Analysis**command. - After that, choose the
**Data Table**option.

At this time, the **Data Table** dialog box will appear.

- Now, specify
**C6**as the**Row input cell**(the**Response Rate**). - After that, select cell
**C5**as the**Column input cell**(the**Number Mailed**). - Finally, click
**OK**.

Here, as you can see, Excel fills the data table. In addition, the following figure shows the final result. Moreover, you can find out that a few of the combinations of response rate and quantity mailed result in a profit rather than a loss from this table.

Same as the one-variable data table, this data table is also dynamic. Here, you can change the formula in cell **F4** to refer to another cell (such as **gross profit**). Or, you can enter some different values for **Response Rate** and **Number Mailed**.

**Read More:** **How to Change Chart Data Range in Excel (5 Quick Methods)**

### 2. Making Two Variable Data Table of Loan Payment

Here, we will demonstrate another example of creating a **two variable data table** for** loan payment** in Excel. Furthermore, for the data table firstly we will calculate the** Monthly Payment**.

- Firstly, select a different cell
**C12**where you want to**calculate**the**Monthly Payment**. - Secondly, use the corresponding formula in the
**C12**cell.

`=PMT(C8/12,C7,-C11)`

- Subsequently, press
**ENTER**to get the result.

At this time, you can see the amount of the **Monthly Payment**.

**Formula Breakdown**

Here, we have used the** PMT** function which calculates the payment based on a loan with a constant interest rate and regular payment.

- Firstly, in this function,
**C8**denotes the annual interest rate of**5.25%**. - Secondly,
**C7**denotes the total payment period in terms of the month which is**220**. - Thirdly,
**C11**denotes the present value which is**$400,000**.

Now, the following figure shows the setup of a** two-variable data table** that summarizes the** monthly payment** at various combinations of **Interest Rate **and **Down Payment Percentage**.

- Now, enter the
**Down Payment Percentage**in**G4: J4**. - Then, insert the
**Interest Rate**in**F5: F13**. - After that, select the data range
**F4:J13**. - Then, from the
**Data**tab >> go to the**What-If Analysis**command. - Finally, choose the
**Data Table**option.

At this time, the **Data Table** dialog box will appear.

- Now, specify
**C6**as the**Row input cell**(the**Down Payment**). - After that, select cell
**C8**as the**Column input cell**(the**Interest Rate**). - Finally, click
**OK**.

Here, as you can see, Excel fills in the data table.

Lastly, we have highlighted the cells that contain the target **monthly payment**.

**Read More:** **Data Table Not Working in Excel (7 Issues & Solutions)**

### 3. Creating Two Variable Data Table of Future Value

Here, we will demonstrate another example of creating a **two variable data table** for** Future Value** in Excel. Furthermore, for the data table firstly we will calculate the** Future Value**.

- Firstly, select a different cell
**C12**where you want to**calculate**the**Future Value**. - Secondly, use the corresponding formula in the
**C12**cell.

`=FV(C8/12,C6*C7,-C5)`

- Subsequently, press
**ENTER**to get the result.

At this time, you can see the amount of the **Future Value**.

**Formula Breakdown**

- Here, the
**FV**function will return a**Future Value**of the periodic investment. - Now,
**C8**denotes the**Annual Interest Rate**. - Then,
**C6**denotes the total time period as**Year**. - Finally,
**C5**denotes the monetary value which you are paying at present.

Now, we will create a** two-variable data table** that summarizes the** Future Value** at various combinations of **Interest Rate **and **Number of Years**.

Here, we have attached the final data table.

**Read More:** **Example of Excel Data Table (6 Criteria)**

## Conclusion

We hope you found this article helpful. Here, we have explained **3** suitable examples to create a **Two Variable Data Table** in Excel. You can visit our website **ExcelDemy** to learn more Excel-related content. Please, drop comments, suggestions, or queries if you have any in the comment section below.

I Have been following your Data analysis articles such as how to create variable tables. I just downloaded the lessons because of the nature of my work as a journalist.

Now that I have started actually studying them, I found your method of teaching worth commending. They are just what you termed them, “step by step” and they are actually straight to the point, easy to follow, easy to understand.

I also want to thank the owner of trumpexcel.com/excel website who directed my attention to your web when I was studying his 100 excel questions series.

Your work is really commendable.

Thanks.

Uche Uche.

Thanks for your feedback, Uche Uche.

Feeling happy to know that you found the articles helpful.

Best regards

Kawser Ahmed