Exam 10: Data Tables, scenario Manager, and Solver

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If you want to apply a conditional format that would format different cells with different colors,where one color is assigned to the lowest group of values,another color is assigned to the highest group of values,and gradient colors are assigned to other values,you would use ________.

(Multiple Choice)
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Match the following terms to their description.
Mixed costs
Costs that contain a variable component and a fixed component
Break-even analysis
Expenses that never change regardless of how much product is sold or how many services are rendered
Fixed costs
Costs that change based on how many products are sold or services are rendered
Correct Answer:
Verified
Premises:
Responses:
Mixed costs
Costs that contain a variable component and a fixed component
Break-even analysis
Expenses that never change regardless of how much product is sold or how many services are rendered
Fixed costs
Costs that change based on how many products are sold or services are rendered
Break-even point
The sales level at which revenue equals total costs
Variable costs
A cost-volume-profit analysis tool that calculates the break-even point in sales volume or dollars,estimates profit or loss at any level of sales volume,and helps in setting prices
(Matching)
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The Scenario Manager dialog box enables you to add,edit,and delete scenarios.

(True/False)
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If a large change in price is accompanied by a small amount of change in demand,a product or service is considered ________.

(Short Answer)
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By selecting the Scenario Summary option,you can create a worksheet that includes subtotals and the results of the scenarios.

(True/False)
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A(n)________ is an application with specific functionality geared toward accomplishing a specific goal.

(Short Answer)
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To compare scenarios,create a scenario ________ report.

(Short Answer)
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When using Solver,the constraint cell contains a formula that creates a value that you want to optimize.

(True/False)
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The Simplex LP,Generalized Reduced Gradient Nonlinear,and Evolutionary are the three solving methods within the Solver Parameters dialog box.

(True/False)
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Match the following terms to their description.
Scenario Manager
The cell that contains the formula-based value that you want to optimize
Changing cells
A rule that Solver has to enforce to reach the optimal solution
Scenario
An application that can be added to a primary program,such as Excel,that is not automatically activated
Correct Answer:
Verified
Premises:
Responses:
Scenario Manager
The cell that contains the formula-based value that you want to optimize
Changing cells
A rule that Solver has to enforce to reach the optimal solution
Scenario
An application that can be added to a primary program,such as Excel,that is not automatically activated
Scenario summary report
A limitation that imposes restrictions on Solver
Scenario PivotTable report
A cell containing a variable whose value changes until Solver optimizes the objective cell
(Matching)
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To create scenario summary reports,click the ________ button in the Scenario Manager dialog box.

(Multiple Choice)
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A(n)________ allows you to build a what-if analysis model that includes variable cells linked by one or more formulas or functions.

(Short Answer)
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Match the following terms to their description.
Add-in
A cell containing a variable whose value changes until Solver optimizes the objective cell
Binding constraint
A rule that Solver has to enforce to reach the optimal solution
Objective cell
An application that can be added to a primary program,such as Excel,that is not automatically activated
Correct Answer:
Verified
Premises:
Responses:
Add-in
A cell containing a variable whose value changes until Solver optimizes the objective cell
Binding constraint
A rule that Solver has to enforce to reach the optimal solution
Objective cell
An application that can be added to a primary program,such as Excel,that is not automatically activated
Changing variable cell
The cell that contains the formula-based value that you want to optimize
Constraint
A limitation that imposes restrictions on Solver
(Matching)
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The Goal Seek command is located in the ________ command on the Data tab.

(Multiple Choice)
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To add a scroll bar,you first need to add the ________ tab.

(Short Answer)
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A constraint that does NOT affect the optimal solution is a(n)________ constraint.

(Short Answer)
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The Reports list in the Solver Results dialog box displays the available report types.

(True/False)
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Match the following terms to their description.
Variable
A form control that allows you to change a number in a target cell location in single-unit increments
Scroll bar
Summarizes the effects that two variables have on one result
One-variable data table
A value that you can change to see how that change affects other values
Correct Answer:
Verified
Premises:
Responses:
Variable
A form control that allows you to change a number in a target cell location in single-unit increments
Scroll bar
Summarizes the effects that two variables have on one result
One-variable data table
A value that you can change to see how that change affects other values
Two-variable data table
A tool that provides various results based on changing one variable
What-if analysis
The process of changing variables to observe how changes affect calculated results
(Matching)
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The iteration settings cannot be changed.

(True/False)
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Input values are listed in both columns and rows in a(n)________ data table.

(Short Answer)
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