Exam 23: Excel : What-If Analysis

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Which of the following is not a method supported by Solver?

(Multiple Choice)
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When creating a two-variable data table,the formula or reference should be placed in the ________.

(Short Answer)
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When creating a one-variable data table with substitution values in a vertical column,the formula reference must be on the row below and one column to the left of the first substitution value.

(True/False)
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Which of the following calculations on the target cell is not supported by Solver?

(Multiple Choice)
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Which of the following tools is an add-in?

(Multiple Choice)
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What what-if analysis tool would you use to compare the impact of different interest rates on a car payment?

(Multiple Choice)
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When active the Solver add-in is located on the ________ tab.

(Multiple Choice)
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When saving a Solver model which of the following is not saved?

(Multiple Choice)
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Which of the following tools has the ability to manipulate constraints?

(Multiple Choice)
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Solver constraints can be set to restrict values to integers.

(True/False)
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A(n)________ is an organized formatted structured report that appears in in the form of a worksheet outline.

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________ is the tool best suited to determine the down payment needed to achieve a $500.00 car payment.

(Short Answer)
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Match the following terms with the corresponding description.
Binding constraint
A constraint that Solver enforces to reach the target value
Non binding constraint
A constraint that does not restrict the target value that Solver finds
Solver
An add-in application that manipulates variables based on constraints to find the optimal solution to a problem
Correct Answer:
Verified
Premises:
Responses:
Binding constraint
A constraint that Solver enforces to reach the target value
Non binding constraint
A constraint that does not restrict the target value that Solver finds
Solver
An add-in application that manipulates variables based on constraints to find the optimal solution to a problem
Optimization model
Finds the highest,lowest,or exact value for one particular result by adjusting values for selected variables
Objective cell
The cell that contains the formula-based value that you want to maximize,minimize,or set to a value in Solver
(Matching)
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Match the following terms with the corresponding description.
Binding constraint
A cell containing a variable whose value changes until Solver optimizes the value in the objective cell
Changing variable cell
An add-in application that manipulates variables based on constraints to find the optimal solution to a problem
Constraint
A program that can be added to Excel to provide enhanced function
Correct Answer:
Verified
Premises:
Responses:
Binding constraint
A cell containing a variable whose value changes until Solver optimizes the value in the objective cell
Changing variable cell
An add-in application that manipulates variables based on constraints to find the optimal solution to a problem
Constraint
A program that can be added to Excel to provide enhanced function
Solver
A limitation that imposes restrictions on Solver
Add-in
A constraint that Solver enforces to reach the target value
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What is the difference between a one-variable and two-variable data table?

(Essay)
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Where is Goal Seek located in Excel?

(Multiple Choice)
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What are the benefits of using Scenario Manager?

(Essay)
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What is the benefit of using Solver over Goal Seek and Scenario Manager?

(Essay)
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________ will vary one input value to reach one optimized result.

(Short Answer)
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Which what-if analysis tool is best suited to determine the exact interest rate required for a $600 car payment repaid over five years?

(Multiple Choice)
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