Exam 9: What If Analysis: Hands On Exercise Videos

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Which of the following What-If analysis tools is an add-in?

Free
(Multiple Choice)
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Correct Answer:
Verified

A

Match the following terms with the corresponding description:
Data validation
Descriptive text or instructions for data entry that can be entered in the Data Validation dialog box
Validation criteria
A message that displays when a user enters invalid data in a cell that has a validation rule applied to it
Input message
Controls the icon that appears with the error message
Correct Answer:
Verified
Premises:
Responses:
Data validation
Descriptive text or instructions for data entry that can be entered in the Data Validation dialog box
Validation criteria
A message that displays when a user enters invalid data in a cell that has a validation rule applied to it
Input message
Controls the icon that appears with the error message
Error alert
Enables you to control the data that can be entered into a cell
Error style
Rules that dictate the type of data that can be entered in a cell
Free
(Matching)
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Correct Answer:
Verified

A Solver report is displayed on the same worksheet immediately below the data.

Free
(True/False)
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Correct Answer:
Verified

False

When using Solver,the ________ cell contains the formula used to optimize the results.

(Multiple Choice)
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________ are restrictions or limitations imposed on Solver as it determines the optimum value.

(Multiple Choice)
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Given an interest rate,the number of years,and a planned down payment,you would use ________ to find the highest cost of a house you can afford while maintaining the monthly payment.

(Multiple Choice)
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A plug-in is a program that has to be added to Excel to extend its functionality.

(True/False)
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Match the following terms with the corresponding description:
Fill across worksheet
The process of deselecting grouped worksheets so that actions performed on one sheet do not affect other worksheets
Grouping
The process of selecting two or more worksheets so that you can perform the same action at the same time on all selected worksheets
Ungrouping
Restrict the view of a worksheet making it not visible
Correct Answer:
Verified
Premises:
Responses:
Fill across worksheet
The process of deselecting grouped worksheets so that actions performed on one sheet do not affect other worksheets
Grouping
The process of selecting two or more worksheets so that you can perform the same action at the same time on all selected worksheets
Ungrouping
Restrict the view of a worksheet making it not visible
Hide
Reinstating the view of a worksheet making it visible
Unhide
Copy new data or formatting across several worksheets at the same time
(Matching)
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Goal Seek is limited to manipulating only one variable and one result.

(True/False)
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Match the following terms with the corresponding description:
Source file
An electronic marker that, when clicked, connects to another location in the same or a different worksheet, another file, a Web page, or an e-mail
Syntax error
A file that contains original data
Hyperlink
A file containing a pointer to receive data from the source files
Correct Answer:
Verified
Premises:
Responses:
Source file
An electronic marker that, when clicked, connects to another location in the same or a different worksheet, another file, a Web page, or an e-mail
Syntax error
A file that contains original data
Hyperlink
A file containing a pointer to receive data from the source files
Destination file
An error that occurs because a formula or function violates correct construction
Logic error
The result of a syntactically correct formula but logically incorrect construction, which produces inaccurate results
(Matching)
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Match the following terms with the corresponding description:
#DIV/0!
Invalid arguments used in a function
#NAME?
Incorrect range separator Formula requires cell ranges to intersect and they do not
#N/A
Misspelled or invalid range name or function name
Correct Answer:
Verified
Premises:
Responses:
#DIV/0!
Invalid arguments used in a function
#NAME?
Incorrect range separator Formula requires cell ranges to intersect and they do not
#N/A
Misspelled or invalid range name or function name
#NULL!
Function is missing one or more required arguments, or VLOOKUP, HLOOKUP, or MATCH functions do not return a match
#NUM
Formula attempts to divide a value by zero or an empty cell
(Matching)
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Match the following terms with the corresponding description:
#REF!
A logical function that checks a cell to determine if that cell contains an error or if a formula will result in an error
IFERROR
Incorrect type of data used in an argument, such as referring to a cell that contains text instead of a value
#VALUE!
Function is missing one or more required arguments
Correct Answer:
Verified
Premises:
Responses:
#REF!
A logical function that checks a cell to determine if that cell contains an error or if a formula will result in an error
IFERROR
Incorrect type of data used in an argument, such as referring to a cell that contains text instead of a value
#VALUE!
Function is missing one or more required arguments
#NUM!
Reference to cell that contains no data or deleted data
#N/A
Invalid arguments used in a function
(Matching)
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To compare monthly mortgage payments,total amounts to repay a loan,and total interest based on varying the interest rate,you would use ________.

(Multiple Choice)
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Match the following terms with the corresponding description:
Watch Window
Cells that are referenced in a formula
IFERROR
Contain formulas that refer to other cells
Formula auditing
A logical function that checks a cell to determine if that cell contains an error or if a formula will result in an error
Correct Answer:
Verified
Premises:
Responses:
Watch Window
Cells that are referenced in a formula
IFERROR
Contain formulas that refer to other cells
Formula auditing
A logical function that checks a cell to determine if that cell contains an error or if a formula will result in an error
Precedents
A set of tools that enable you to display or trace relationships for formula cells, show formulas, check for errors, and evaluate formulas
Dependents
Enables you to create a small window so you can conveniently inspect, audit, or confirm formula calculations involving cells not immediately visible on the screen
(Matching)
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Match the following terms with their meanings:
anomaly
the process of altering digital information using an algorithm to make it unreadable to anyone except those who possess the key
composite key
an error or inconsistency that occurs when you add, edit, and delete data
encryption
a field that is not part of the primary key
Correct Answer:
Verified
Premises:
Responses:
anomaly
the process of altering digital information using an algorithm to make it unreadable to anyone except those who possess the key
composite key
an error or inconsistency that occurs when you add, edit, and delete data
encryption
a field that is not part of the primary key
non-key field
a primary key that is made up of two or more fields
(Matching)
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Data tables can be constructed using one,two,or three variables.

(True/False)
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To optimize the monthly payments,you would designate the home cost,down payment,APR,and number of years for the loan as the ________ variable cells.

(Multiple Choice)
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Match the following terms with the corresponding description:
[Indianapolis.xlsx]Qtr3!A1
External reference in which Worksheet name contains spaces; source and destination files are in the same folder
'[South Bend.xlsx]Qtr3'!A1
Cell reference
'[Bloomington.xlsx]Qtr 3 Sales'!A1
External reference in which Workbook and worksheet names do not contain spaces; source and destination files are in the same folder.
Correct Answer:
Verified
Premises:
Responses:
[Indianapolis.xlsx]Qtr3!A1
External reference in which Worksheet name contains spaces; source and destination files are in the same folder
'[South Bend.xlsx]Qtr3'!A1
Cell reference
'[Bloomington.xlsx]Qtr 3 Sales'!A1
External reference in which Workbook and worksheet names do not contain spaces; source and destination files are in the same folder.
'C:\Data[Indianapolis.xlsx]Sheet1'!A1
External reference in which Workbook or worksheet name contains spaces; source and destination files are in the same folder.
B3
External reference in which source workbook is in a different folder than the destination workbook.
(Matching)
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The ________ value replaces the original input value of the variable in a data table.

(Multiple Choice)
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Best-Case,Worst-Case,and Mostly Likely are descriptive names used to identify ________.

(Multiple Choice)
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