Question 1

A common practice of scenario analysis is to examine the base case, best case, and worst case scenarios.

Accepted Answer

A) True 
 B)False

Question 2

Describe the "IF" function in Excel.

Accepted Answer

The three arguments are Lookup_value, Lo

Question 3

In Excel, ___________________ references are indicated by the lack of a dollar sign character preceding either the column or the row reference.

Accepted Answer

A) absolute 
B) comparative 
C) analogous 
D) relative 
E) correlative 
A) absolute 
B) comparative 
C) analogous 
D) relative 
E) correlative

Question 4

You can edit Excel formulas by either double-click the cell, or _________________

Accepted Answer

The answer of You can edit Excel formulas by either...

Question 5

What are the two main reasons why one should break up larger calculations into smaller ones in spreadsheet modeling?

Accepted Answer

A) to speed solution time and to determine intermediate values 
B) to speed solution time and to avoid errors 
C) so the formula can fit on the formula line and to speed solution time 
D) to avoid errors and to determine intermediate values 
E) so the formula can fit on the formula line and to avoid errors 
A) to speed solution time and to determine intermediate values 
B) to speed solution time and to avoid errors 
C) so the formula can fit on the formula line and to speed solution time 
D) to avoid errors and to determine intermediate values 
E) so the formula can fit on the formula line and to avoid errors

Question 6

The principle, "Do not hard-code an input directly into a formula," is the main feature of spreadsheet ________________.

Accepted Answer

A) correctness 
B) documentation 
C) aesthetics 
D) flexibility 
E) randomness 
A) correctness 
B) documentation 
C) aesthetics 
D) flexibility 
E) randomness

Question 7

A _________________ is a specific set of conditions that could occur in the real situation.

Accepted Answer

A) parameter 
B) scenario 
C) sensitivity set 
D) break-even set 
E) circumstance 
A) parameter 
B) scenario 
C) sensitivity set 
D) break-even set 
E) circumstance

Question 8

One mistake Excel users make in forming the DATA TABLE is:

Accepted Answer

A) use too large data steps. 
B) use incorrect addressing. 
C) forget to leave the first cell blank in the data column. 
D) forget to label the columns. 
E) modify the default settings. 
A) use too large data steps. 
B) use incorrect addressing. 
C) forget to leave the first cell blank in the data column. 
D) forget to label the columns. 
E) modify the default settings.

Question 9

The MATCH function in Excel returns the relative position in the array that matches the lookup value.

Accepted Answer

A) True 
 B)False

Question 10

There are a number of different model types which do not share any commonalities.

Accepted Answer

A) True 
 B)False

Question 11

A _________________ is a picture or diagram identifying controllable and uncontrollable inputs and outputs.

Accepted Answer

The answer of A _________________ is a picture or diagram...

Question 12

One of the first things you must do in developing a model is:

Accepted Answer

A) select the correct modeling software. 
B) consult a transformation text book. 
C) determine the formulas that are required. 
D) define the logic necessary to transform the inputs into the outputs. 
E) backwards calculate what inputs are required for the defined inputs. 
A) select the correct modeling software. 
B) consult a transformation text book. 
C) determine the formulas that are required. 
D) define the logic necessary to transform the inputs into the outputs. 
E) backwards calculate what inputs are required for the defined inputs.

Question 13

In the custom footer box in Excel, what symbol precedes the set of brackets containing the commands "[File]," "[Tab]," "[Date]," or "[Time]?"

Accepted Answer

A) * 
B) % 
C) # 
D) @ 
E) & 
A) * 
B) % 
C) # 
D) @ 
E) &

Question 14

Controllable inputs are sometimes called parameters.

Accepted Answer

A) True 
 B)False

Question 15

___________________ perform repetitive what-if analysis quickly and easily in Excel.

Accepted Answer

A) What-If Tables 
B) Repetitive Tables 
C) Sensitivity Tables 
D) Scenario Tables 
E) Data Tables 
A) What-If Tables 
B) Repetitive Tables 
C) Sensitivity Tables 
D) Scenario Tables 
E) Data Tables

Question 16

The benefits of including a particular factor in a model must be weighed against the decreased complexity of the model resulting from its inclusion.

Accepted Answer

A) True 
 B)False

Question 17

In Excel, ___________________ references do not change when you copy them.

Accepted Answer

A) absolute 
B) comparative 
C) analogous 
D) relative 
E) correlative 
A) absolute 
B) comparative 
C) analogous 
D) relative 
E) correlative

A common practice of scenario analysis is to examine the base case, best case, and worst case scenarios.

Describe the "IF" function in Excel.

In Excel, ___________________ references are indicated by the lack of a dollar sign character preceding either the column or the row reference.

You can edit Excel formulas by either double-click the cell, or _________________

What are the two main reasons why one should break up larger calculations into smaller ones in spreadsheet modeling?

The principle, "Do not hard-code an input directly into a formula," is the main feature of spreadsheet ________________.

A _________________ is a specific set of conditions that could occur in the real situation.

One mistake Excel users make in forming the DATA TABLE is:

The MATCH function in Excel returns the relative position in the array that matches the lookup value.

There are a number of different model types which do not share any commonalities.

A _________________ is a picture or diagram identifying controllable and uncontrollable inputs and outputs.

One of the first things you must do in developing a model is:

In the custom footer box in Excel, what symbol precedes the set of brackets containing the commands "[File]," "[Tab]," "[Date]," or "[Time]?"

Controllable inputs are sometimes called parameters.

___________________ perform repetitive what-if analysis quickly and easily in Excel.

The benefits of including a particular factor in a model must be weighed against the decreased complexity of the model resulting from its inclusion.

In Excel, ___________________ references do not change when you copy them.

Introduction to Operations Management

Operations Strategy and Competitiveness

Product Design and Process Selection

E-Commerce and Supply Chain Management

Total Quality Management

Statistical Quality Control

Just-In-Time and Lean Systems

Forecasting

Capacity Planning and Facility Location

Facility Layout

Work System Design

Independent Demand Inventory Management

Aggregate Planning

Resource Planning

Scheduling

Project Management

Spreadsheet Modeling: an Introduction

Waiting Line Models

Master Scheduling and Rough-Cut Capacity Planning

Filters

Exam 16: Spreadsheet Modeling: an Introduction

A common practice of scenario analysis is to examine the base case, best case, and worst case scenarios.

Describe the "IF" function in Excel.

In Excel, ___________________ references are indicated by the lack of a dollar sign character preceding either the column or the row reference.

You can edit Excel formulas by either double-click the cell, or _________________

What are the two main reasons why one should break up larger calculations into smaller ones in spreadsheet modeling?

The principle, "Do not hard-code an input directly into a formula," is the main feature of spreadsheet ________________.

A _________________ is a specific set of conditions that could occur in the real situation.

One mistake Excel users make in forming the DATA TABLE is:

The MATCH function in Excel returns the relative position in the array that matches the lookup value.

There are a number of different model types which do not share any commonalities.

A _________________ is a picture or diagram identifying controllable and uncontrollable inputs and outputs.

One of the first things you must do in developing a model is:

In the custom footer box in Excel, what symbol precedes the set of brackets containing the commands "[File]," "[Tab]," "[Date]," or "[Time]?"

Controllable inputs are sometimes called parameters.

___________________ perform repetitive what-if analysis quickly and easily in Excel.

The benefits of including a particular factor in a model must be weighed against the decreased complexity of the model resulting from its inclusion.

In Excel, ___________________ references do not change when you copy them.

Introduction to Operations Management

Operations Strategy and Competitiveness

Product Design and Process Selection

E-Commerce and Supply Chain Management

Total Quality Management

Statistical Quality Control

Just-In-Time and Lean Systems

Forecasting

Capacity Planning and Facility Location

Facility Layout

Work System Design

Independent Demand Inventory Management

Aggregate Planning

Resource Planning

Scheduling

Project Management

Spreadsheet Modeling: an Introduction

Waiting Line Models

Master Scheduling and Rough-Cut Capacity Planning

Filters