Exam 23: Excel : What-If Analysis

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Match the following terms with the corresponding description.
Optimization models
Specifies the cell that contains a formula that produces a value that you want to optimize
Non binding constraint
A constraint that does not restrict the target value that Solver finds
Add-in
An add-in application that searches for the best or optimum solution to a problem by manipulating the values for several variables within restrictions that you impose
Correct Answer:
Verified
Premises:
Responses:
Optimization models
Specifies the cell that contains a formula that produces a value that you want to optimize
Non binding constraint
A constraint that does not restrict the target value that Solver finds
Add-in
An add-in application that searches for the best or optimum solution to a problem by manipulating the values for several variables within restrictions that you impose
Objective cell
Find the highest,lowest,or exact value for one particular result by adjusting values for selected variables
Solver
Programs that can be added to Excel to provide enhanced functionality
(Matching)
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In order to complete a two-variable data table,which of the following must be included in the table?

(Multiple Choice)
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When calculating the optimal blend of down payment and interest rate to purchase an automobile,a limit of no more than a $10,000 down payment is an example of which of the following?

(Multiple Choice)
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The ________ replaces the original input value of a variable in a data table.

(Short Answer)
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Which of the following what-if analysis tools has the ability to limit values to whole numbers?

(Multiple Choice)
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A________ is a rule that Solver has to enforce to reach the objective value.

(Multiple Choice)
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Goal Seek appears in which tab group within Excel?

(Multiple Choice)
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Which what-if analysis tool is best for manipulating one variable to determine one result?

(Multiple Choice)
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Where is Scenario Manager located in Excel?

(Multiple Choice)
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There is no limit to the number of scenarios that can be created with Scenario Manager.

(True/False)
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Multiple objective cells can be used with Scenario Manager.

(True/False)
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Which what-if analysis tool is best suited to determine the input value needed to achieve a specific output?

(Multiple Choice)
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Substitution values can be manually entered.

(True/False)
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Multiple objective cells can be used with Goal Seek.

(True/False)
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Match the following terms with the corresponding description.
Scenario Manager
Detailed sets of values that represent different possible situations
Scenario Summary Report
A tool that identifies the necessary input value to obtain a desired goal
Optimization model
Finds the highest,lowest,or exact value for one particular result by adjusting values for selected variables
Correct Answer:
Verified
Premises:
Responses:
Scenario Manager
Detailed sets of values that represent different possible situations
Scenario Summary Report
A tool that identifies the necessary input value to obtain a desired goal
Optimization model
Finds the highest,lowest,or exact value for one particular result by adjusting values for selected variables
Goal Seek
Enables you to define and manage scenarios to compare how they affect results
Scenario
A worksheet that contains scenario results
(Matching)
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A(n)________ is used to compare the impacts of one variable on a calculated result.

(Short Answer)
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A list of active add-ins can be viewed in the ________.

(Multiple Choice)
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________ has the ability to restrict variable cells to integers.

(Multiple Choice)
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A substitution value replaces the original input value of a variable in a data table.

(True/False)
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Solver can be set to maximize the objective cell.

(True/False)
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