Question 1

After you create a scenario, you can use the Scenario Manager ____ to change its values to extend your what-if analysis.

Accepted Answer

A)  dialog box 
B)  toolbar 
C)  status bar 
D)  Wizard 
A)  dialog box 
B)  toolbar 
C)  status bar 
D)  Wizard

Question 2

In a two-variable data table, you use two sets of values for two input variables, and display only the value of a single result cell.

Accepted Answer

A) True 
 B)False

Question 3

Although data tables and scenarios are ideal for showing the results of the interaction of a number of variables, analyzing which results are more likely than others depends on your knowledge of your business and markets.

Accepted Answer

A) True 
 B)False

Question 4

Cells that contain formulas should be specified as changing cells in scenarios.

Accepted Answer

A) True 
 B)False

Question 5

The VLOOKUP function compares a lookup value to the first column of a lookup table, and returns the corresponding value in ____ column of the lookup table.

Accepted Answer

A)  a designated 
B)  the first 
C)  the second 
D)  the last 
A)  a designated 
B)  the first 
C)  the second 
D)  the last

Question 6

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's boss has asked him to be more precise about how many units the company will need to sell to break even. What can Beckham do to get this information?

Accepted Answer

A)  Create a larger data table with smaller increments in specifying units sold. 
B)  Create a larger data table with larger increments in specifying units sold. 
C)  Change the input variable to sales revenue. 
D)  Change the input variable to income. 
A)  Create a larger data table with smaller increments in specifying units sold. 
B)  Create a larger data table with larger increments in specifying units sold. 
C)  Change the input variable to sales revenue. 
D)  Change the input variable to income.

Question 7

Identify the letter of the choice that best matches the word or phrase with its definition.
-A multiple-output formula that shows the results that come from one set of input values

Accepted Answer

A) changing cells 
B) result cells 
C) one-variable data table 
D) data table 
E) input cells
F)two-variable data table
G)range name 
A) changing cells 
B) result cells 
C) one-variable data table 
D) data table 
E) input cells
F)two-variable data table
G)range name

Question 8

You use a ____ when you want to ask a what-if question involving a range of values.

Accepted Answer

A)  data table 
B)  source table 
C)  data chart 
D)  source chart 
A)  data table 
B)  source table 
C)  data chart 
D)  source chart

Question 9

A ____ is running a what-if analysis on realistic but not actual data.

Accepted Answer

A)  simulation 
B)  situation 
C)  template 
D)  scenario 
A)  simulation 
B)  situation 
C)  template 
D)  scenario

Question 10

Creating the structure for a data table involves creating the set of input values you want to use in a what-if analysis and indicating the results you want to see in the target table. _________________________

Accepted Answer

A) True 
 B)False

Question 11

You use a(n) one-variable data table to determine how two values affect a single result. _________________________

Accepted Answer

A) True 
 B)False

Question 12

At its most basic level, what-now analysis involves asking a question about a worksheet, such as: "What if the revenue of the swimwear product line increased by $10,000 per month?" _________________________

Accepted Answer

A) True 
 B)False

Question 13

You use the ____ to add a scenario.

Accepted Answer

A)  Scenario Wizard 
B)  Scenario Manager 
C)  Case Manager 
D)  Data Table Manager 
A)  Scenario Wizard 
B)  Scenario Manager 
C)  Case Manager 
D)  Data Table Manager

Question 14

As with one-variable data tables, you must specify how a two-variable data table is structured and which cells in the worksheet's input section relate to the table's ____.

Accepted Answer

A)  values 
B)  formula 
C)  formatting 
D)  file size 
A)  values 
B)  formula 
C)  formatting 
D)  file size

Question 15

The ____ function generates a random number between 0 and 1.

Accepted Answer

A)  RANDOM 
B)  RAND 
C)  RNDM 
D)  RDOM 
A)  RANDOM 
B)  RAND 
C)  RNDM 
D)  RDOM

Question 16

Creating a data table in Excel involves the very important step(s) of ____.

Accepted Answer

A)  setting up the structure for the data table 
B)  instructing Excel on how the data table's structure relates to the input section of the worksheet 
C)  both a and b 
D)  neither a nor b 
A)  setting up the structure for the data table 
B)  instructing Excel on how the data table's structure relates to the input section of the worksheet 
C)  both a and b 
D)  neither a nor b

Question 17

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 decides that he needs to delete one of his scenarios. How does he open the Scenario Manager in order to delete the desired scenario in the Scenarios box?

Accepted Answer

A)  Click the What-If Analysis button in the Data Tools group on the SCENARIOS tab on the ribbon. 
B)  Click the Manage Scenarios button in the Data Tools group on the DATA tab on the ribbon. 
C)  Click the What-If Analysis button in the Data Tools group on the DATA tab on the ribbon. 
D)  Click the Analysis button in the Manage Scenarios group on the DATA tab on the ribbon. 
A)  Click the What-If Analysis button in the Data Tools group on the SCENARIOS tab on the ribbon. 
B)  Click the Manage Scenarios button in the Data Tools group on the DATA tab on the ribbon. 
C)  Click the What-If Analysis button in the Data Tools group on the DATA tab on the ribbon. 
D)  Click the Analysis button in the Manage Scenarios group on the DATA tab on the ribbon.

Question 18

To make the scenario summary easy to interpret and distribute, Excel ____.

Accepted Answer

A)  shades the changing cell values 
B)  shades the cell names 
C)  puts the report into a tabular format 
D)  all of the above 
A)  shades the changing cell values 
B)  shades the cell names 
C)  puts the report into a tabular format 
D)  all of the above

Question 19

Scenario names can contain up to 255 characters, including spaces. However, only the first ____ characters of the scenario name appear in the Scenario Manager list.

Accepted Answer

A)  15 
B)  25 
C)  35 
D)  45 
A)  15 
B)  25 
C)  35 
D)  45

Question 20

Before printing a scenario report, you indicate which ____ cells are of interest to you.

Accepted Answer

A)  result 
B)  formula 
C)  error 
D)  defined 
A)  result 
B)  formula 
C)  error 
D)  defined

After you create a scenario, you can use the Scenario Manager ____ to change its values to extend your what-if analysis.

In a two-variable data table, you use two sets of values for two input variables, and display only the value of a single result cell.

Although data tables and scenarios are ideal for showing the results of the interaction of a number of variables, analyzing which results are more likely than others depends on your knowledge of your business and markets.

Cells that contain formulas should be specified as changing cells in scenarios.

The VLOOKUP function compares a lookup value to the first column of a lookup table, and returns the corresponding value in ____ column of the lookup table.

Identify the letter of the choice that best matches the word or phrase with its definition. -A multiple-output formula that shows the results that come from one set of input values

You use a ____ when you want to ask a what-if question involving a range of values.

A ____ is running a what-if analysis on realistic but not actual data.

Creating the structure for a data table involves creating the set of input values you want to use in a what-if analysis and indicating the results you want to see in the target table. _________________________

You use a(n) one-variable data table to determine how two values affect a single result. _________________________

At its most basic level, what-now analysis involves asking a question about a worksheet, such as: "What if the revenue of the swimwear product line increased by $10,000 per month?" _________________________

You use the ____ to add a scenario.

As with one-variable data tables, you must specify how a two-variable data table is structured and which cells in the worksheet's input section relate to the table's ____.

The ____ function generates a random number between 0 and 1.

Creating a data table in Excel involves the very important step(s) of ____.

To make the scenario summary easy to interpret and distribute, Excel ____.

Scenario names can contain up to 255 characters, including spaces. However, only the first ____ characters of the scenario name appear in the Scenario Manager list.

Before printing a scenario report, you indicate which ____ cells are of interest to you.

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

After you create a scenario, you can use the Scenario Manager ____ to change its values to extend your what-if analysis.

In a two-variable data table, you use two sets of values for two input variables, and display only the value of a single result cell.

Although data tables and scenarios are ideal for showing the results of the interaction of a number of variables, analyzing which results are more likely than others depends on your knowledge of your business and markets.

Cells that contain formulas should be specified as changing cells in scenarios.

The VLOOKUP function compares a lookup value to the first column of a lookup table, and returns the corresponding value in ____ column of the lookup table.

Identify the letter of the choice that best matches the word or phrase with its definition. -A multiple-output formula that shows the results that come from one set of input values

You use a ____ when you want to ask a what-if question involving a range of values.

A ____ is running a what-if analysis on realistic but not actual data.

Creating the structure for a data table involves creating the set of input values you want to use in a what-if analysis and indicating the results you want to see in the target table. _________________________

You use a(n) one-variable data table to determine how two values affect a single result. _________________________

At its most basic level, what-now analysis involves asking a question about a worksheet, such as: "What if the revenue of the swimwear product line increased by $10,000 per month?" _________________________

You use the ____ to add a scenario.

As with one-variable data tables, you must specify how a two-variable data table is structured and which cells in the worksheet's input section relate to the table's ____.

The ____ function generates a random number between 0 and 1.

Creating a data table in Excel involves the very important step(s) of ____.

To make the scenario summary easy to interpret and distribute, Excel ____.

Scenario names can contain up to 255 characters, including spaces. However, only the first ____ characters of the scenario name appear in the Scenario Manager list.

Before printing a scenario report, you indicate which ____ cells are of interest to you.

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