Exam 6: What-If Analysis

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How do you start Goal Seek?

(Multiple Choice)
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The what-if analysis tool best suited to evaluating multiple scenarios within a formula is ________.

(Short Answer)
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The limit of no more than a $50,000 down payment is an example of a(n)________ when calculating the optimal combination of down payment and interest rate to purchase a new printing press.

(Multiple Choice)
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Goal Seek has the ability to restrict variables to integers and greater than zero numbers.

(True/False)
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Which is the best what-if analysis tool to determine the optimal combination of products to produce in order to maximize profit?

(Multiple Choice)
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Which of these characters is not an acceptable character to use in a range name?

(Multiple Choice)
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If Solver is loaded, it will appear on this tab.

(Multiple Choice)
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What tool would be most effective when comparing the impact of changes in interest rate and purchase price on a new car loan?

(Multiple Choice)
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What tool would you use to rename a named range?

(Multiple Choice)
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Match each of the following terms to its best description:
Scenario
Values that represent different possible situations
Scenario Manager
Tool that enables you to build different scenarios for comparison
Scenario Summary PivotTable
An optional output
Correct Answer:
Verified
Premises:
Responses:
Scenario
Values that represent different possible situations
Scenario Manager
Tool that enables you to build different scenarios for comparison
Scenario Summary PivotTable
An optional output
Scenario Summary Report
Displays different scenarios with their input values and results well organized on a new worksheet
Changing Cell
Variable
(Matching)
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The What-If Analysis tool is on the ________ tab.

(Multiple Choice)
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What is this an example of? What is this an example of?

(Multiple Choice)
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A one-variable data table would be the appropriate what-if analysis tool to compare loans with variable time period and interest rates.

(True/False)
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The ________ specifies the cell containing the formula that produces a value for Solver to optimize.

(Short Answer)
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________ is an add-in application that searches for the optimum solution by manipulating variables using constraints you set.

(Short Answer)
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A(n)________ is a structured report organized as a worksheet to summarize multiple scenarios.

(Short Answer)
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The ________ are the cells containing variables whose values change within the constraints until the objective cell reaches its optimum value.

(Multiple Choice)
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Match the following range names with their appropriate description of any problem with the name:
10YearGoal
No Special characters
Ten_Year_Goal!
Spaces are not allowed
Ten Year Goal
No problem.Numbers used appropriately
Correct Answer:
Verified
Premises:
Responses:
10YearGoal
No Special characters
Ten_Year_Goal!
Spaces are not allowed
Ten Year Goal
No problem.Numbers used appropriately
Goal10Year
No problem, underscore used for readability
Ten_Year_Goal
Must start with a letter
(Matching)
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The number of scenarios that Scenario Manager can manage is unlimited.

(True/False)
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Solver is an Excel Add-in.

(True/False)
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