Question 1

Excel can be used to create two types of data tables: one-variable data tables and ____ data tables.

Accepted Answer

A)  multi-variable 
B)  two-variable 
C)  input 
D)  output 
A)  multi-variable 
B)  two-variable 
C)  input 
D)  output

Question 2

To compare scenarios, you can create a summary report that lists the scenarios side by side or in a PivotScenario.

Accepted Answer

A) True 
 B)False

Question 3

You are faced with 100 rows of simulated profit data. You know that when using data tables for a simulation, it is helpful to calculate statistics about the data. Do you base your decisions about the data on the profit data or the statistics? What type of statistics would you run?

Accepted Answer

•When using data tables to run a simulat

Question 4

The textbook recommends using defined names that are fairly ____ and meaningful.

Accepted Answer

A)  short 
B)  long 
C)  unusual 
D)  common 
A)  short 
B)  long 
C)  unusual 
D)  common

Question 5

Source cells contain values, and result cells show the results of formulas. _________________________

Accepted Answer

A) True 
 B)False

Question 6

To conduct a ____ analysis, you can ask, "How would the break-even point and profitability estimates change if an estimate about one or more other assumptions changes?"

Accepted Answer

A)  sensitivity 
B)  variable 
C)  systematic 
D)  routine 
A)  sensitivity 
B)  variable 
C)  systematic 
D)  routine

Question 7

Case 8-2
   
Gabriel created the table above to help him organize financial information on the projected results of increased marketing campaigns for the swimsuit line. A change in marketing expense will change the number of units sold. Please refer to the table above when answering the questions below.
-Gabriel needs to create five scenarios in the Swimwear worksheet. To do so, he needs to determine the changing cells in the worksheet. Which input values change under the various options, and what will the changing cells be in his scenarios?

Accepted Answer

A)  the marketing expense for each of the swimsuit styles 
B)  the units sold for each of the swimsuit styles 
C)  both a and b 
D)  neither a nor b 
A)  the marketing expense for each of the swimsuit styles 
B)  the units sold for each of the swimsuit styles 
C)  both a and b 
D)  neither a nor b

Question 8

Case 8-2
   
Gabriel created the table above to help him organize financial information on the projected results of increased marketing campaigns for the swimsuit line. A change in marketing expense will change the number of units sold. Please refer to the table above when answering the questions below.
-Gabriel plans to name the input and result cells with range names. What would you recommend the name be for Option 3, "High End"?

Accepted Answer

A)  High End 
B)  Option 3 
C)  HE 
D)  High_End 
A)  High End 
B)  Option 3 
C)  HE 
D)  High_End

Question 9

You use data tables when you want to conduct a what-if analysis involving one or two input cells. _________________________

Accepted Answer

A) True 
 B)False

Question 10

Scenarios are best created using sets of ____________________ value assumptions, such as best-case, likely case, and worst-case outcomes.

Accepted Answer

The answer of Scenarios are best created using sets of...

Question 11

The Scenario Manager refers to input cells as ____________________ cells.

Accepted Answer

The answer of The Scenario Manager refers to input cells...

Question 12

Both one-variable data tables and two-variable data tables have ____________________ cells, which are the cells containing values that can vary.

Accepted Answer

The answer of Both one-variable data tables and two-variable data...

Question 13

Use a(n) ____ data table to see how two factors-for example, different interest rates and loan terms-affect a loan payment.

Accepted Answer

A)  one-variable 
B)  two-variable 
C)  multi-variable 
D)  output 
A)  one-variable 
B)  two-variable 
C)  multi-variable 
D)  output

Question 14

Case 8-1
   
Beckham created the worksheets above to show the profitability and break-even points for his company. Please refer to the figure above as you answer the questions below.
-Beckham has received word from the Purchasing Department that there could be some variance in the COGS. He wants to develop a worksheet that shows the effects of various interactions between the selling price and the cost of goods sold per unit on profitability. In the two-variable data table, how would he set it up?

Accepted Answer

A)  Place COGS and selling price next to each other in a column, and the table's output formula for income in the third column. 
B)  Place COGS and selling price perpendicular to each other, and the table's output formula for income in the intersection of these two sets of input variables. 
C)  Place income and selling price perpendicular to each other, and the table's output formula for COGS in the intersection of these two sets of input variables. 
D)  Place COGS and selling price in two subsequent rows, with the table's output formula for income in the third row. 
A)  Place COGS and selling price next to each other in a column, and the table's output formula for income in the third column. 
B)  Place COGS and selling price perpendicular to each other, and the table's output formula for income in the intersection of these two sets of input variables. 
C)  Place income and selling price perpendicular to each other, and the table's output formula for COGS in the intersection of these two sets of input variables. 
D)  Place COGS and selling price in two subsequent rows, with the table's output formula for income in the third row.

Question 15

____ margins are widely used in analysis, especially when evaluating the profitability of sales alternatives and performing break-even analysis.

Accepted Answer

A)  Lookup 
B)  Contribution 
C)  Data 
D)  Source 
A)  Lookup 
B)  Contribution 
C)  Data 
D)  Source

Question 16

Excel allows up to ____ changing cells in each scenario.

Accepted Answer

A)  32 
B)  51 
C)  255 
D)  399 
A)  32 
B)  51 
C)  255 
D)  399

Question 17

Scenario reports can include data from only the first ____ scenarios.

Accepted Answer

A)  32 
B)  151 
C)  251 
D)  351 
A)  32 
B)  151 
C)  251 
D)  351

Question 18

A(n) one-variable data table has only one input cell and many result cells. _________________________

Accepted Answer

A) True 
 B)False

Question 19

To specify which input cell in the worksheet relates to the values in the data table, open the ____ dialog box.

Accepted Answer

A)  Data Table 
B)  Input Cell 
C)  Worksheet 
D)  What-if 
A)  Data Table 
B)  Input Cell 
C)  Worksheet 
D)  What-if

Question 20

____________________ analysis is a type of what-if analysis that concentrates on an activity at or around the point at which a product breaks even.

Accepted Answer

Break-even

Excel can be used to create two types of data tables: one-variable data tables and ____ data tables.

To compare scenarios, you can create a summary report that lists the scenarios side by side or in a PivotScenario.

You are faced with 100 rows of simulated profit data. You know that when using data tables for a simulation, it is helpful to calculate statistics about the data. Do you base your decisions about the data on the profit data or the statistics? What type of statistics would you run?

The textbook recommends using defined names that are fairly ____ and meaningful.

Source cells contain values, and result cells show the results of formulas. _________________________

To conduct a ____ analysis, you can ask, "How would the break-even point and profitability estimates change if an estimate about one or more other assumptions changes?"

You use data tables when you want to conduct a what-if analysis involving one or two input cells. _________________________

Scenarios are best created using sets of ____________________ value assumptions, such as best-case, likely case, and worst-case outcomes.

The Scenario Manager refers to input cells as ____________________ cells.

Both one-variable data tables and two-variable data tables have ____________________ cells, which are the cells containing values that can vary.

Use a(n) ____ data table to see how two factors-for example, different interest rates and loan terms-affect a loan payment.

____ margins are widely used in analysis, especially when evaluating the profitability of sales alternatives and performing break-even analysis.

Excel allows up to ____ changing cells in each scenario.

Scenario reports can include data from only the first ____ scenarios.

A(n) one-variable data table has only one input cell and many result cells. _________________________

To specify which input cell in the worksheet relates to the values in the data table, open the ____ dialog box.

____________________ analysis is a type of what-if analysis that concentrates on an activity at or around the point at which a product breaks even.

Applying Fundamental Excel Skills and Tools in Problem Solving

Solving Problems with Statistical Analysis Tools

Determining Effective Data Display with Charts

Applying Logic in Decision Making

Retrieving Data for Computation, Analysis, and Reference

Evaluating the Financial Impact of Loans and Investments

Organizing Data for Effective Analysis

Enhancing Decision Making with Solver

Troubleshooting Workbooks and Automating Excel Applications

Filters

Exam 8: Using Data Tables and Excel Scenarios for What If Analysis

Excel can be used to create two types of data tables: one-variable data tables and ____ data tables.

To compare scenarios, you can create a summary report that lists the scenarios side by side or in a PivotScenario.

You are faced with 100 rows of simulated profit data. You know that when using data tables for a simulation, it is helpful to calculate statistics about the data. Do you base your decisions about the data on the profit data or the statistics? What type of statistics would you run?

The textbook recommends using defined names that are fairly ____ and meaningful.

Source cells contain values, and result cells show the results of formulas. _________________________

To conduct a ____ analysis, you can ask, "How would the break-even point and profitability estimates change if an estimate about one or more other assumptions changes?"

You use data tables when you want to conduct a what-if analysis involving one or two input cells. _________________________

Scenarios are best created using sets of ____________________ value assumptions, such as best-case, likely case, and worst-case outcomes.

The Scenario Manager refers to input cells as ____________________ cells.

Both one-variable data tables and two-variable data tables have ____________________ cells, which are the cells containing values that can vary.

Use a(n) ____ data table to see how two factors-for example, different interest rates and loan terms-affect a loan payment.

____ margins are widely used in analysis, especially when evaluating the profitability of sales alternatives and performing break-even analysis.

Excel allows up to ____ changing cells in each scenario.

Scenario reports can include data from only the first ____ scenarios.

A(n) one-variable data table has only one input cell and many result cells. _________________________

To specify which input cell in the worksheet relates to the values in the data table, open the ____ dialog box.

____________________ analysis is a type of what-if analysis that concentrates on an activity at or around the point at which a product breaks even.

Applying Fundamental Excel Skills and Tools in Problem Solving

Solving Problems with Statistical Analysis Tools

Determining Effective Data Display with Charts

Applying Logic in Decision Making

Retrieving Data for Computation, Analysis, and Reference

Evaluating the Financial Impact of Loans and Investments

Organizing Data for Effective Analysis

Enhancing Decision Making with Solver

Troubleshooting Workbooks and Automating Excel Applications

Filters