Question 1

In Excel, you can copy text labels by using the:

Accepted Answer

A)  @ 
B)  & 
C)  + 
D)  = 
E)  - 
A)  @ 
B)  & 
C)  + 
D)  = 
E)  -

Question 2

Define an output.

Accepted Answer

An output is a quant

Question 3

Which Excel function takes as inputs two separate ranges, then multiplies each pair of numbers in the ranges, and then adds up all these individual products?

Accepted Answer

A)  RANGE 
B)  RANGEPRODUCT 
C)  PRODUCTSUM 
D)  SUMPRODUCT 
E)  DOTPRODUCT 
A)  RANGE 
B)  RANGEPRODUCT 
C)  PRODUCTSUM 
D)  SUMPRODUCT 
E)  DOTPRODUCT

Question 4

Which of the following models is "built" in the user's head and represents the most common form of model?

Accepted Answer

A)  physical model 
B)  mathematical model 
C)  mental model 
D)  spreadsheet model 
E)  visual model 
A)  physical model 
B)  mathematical model 
C)  mental model 
D)  spreadsheet model 
E)  visual model

Question 5

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 6

Describe the "IF" function in Excel.

Accepted Answer

The three arguments are Lookup_value, Lo

Question 7

Which of the following is not one of the standard items included in a footer?

Accepted Answer

A)  worksheet name 
B)  author name 
C)  solution time 
D)  date 
E)  time 
A)  worksheet name 
B)  author name 
C)  solution time 
D)  date 
E)  time

Question 8

To add Cell Comments for a cell in Excel, right-click and choose ____________________.

Accepted Answer

A)  Insert Comment 
B)  Format Cells… 
C)  Hyperlink… 
D)  Insert… 
E)  Pick From List… 
A)  Insert Comment 
B)  Format Cells… 
C)  Hyperlink… 
D)  Insert… 
E)  Pick From List…

Question 9

In Excel, what are the keystrokes for the "Paste" command?

Accepted Answer

A)  Ctrl-C 
B)  Ctrl-V 
C)  Ctrl-X 
D)  Ctrl-Z 
E)  Ctrl-P 
A)  Ctrl-C 
B)  Ctrl-V 
C)  Ctrl-X 
D)  Ctrl-Z 
E)  Ctrl-P

Question 10

If a model produces numerically correct values for the outputs for any legitimate values of inputs, it is said to be

Accepted Answer

A)  flexible 
B)  adjustable 
C)  a transformation 
D)  accurate 
E)  inaccurate 
A)  flexible 
B)  adjustable 
C)  a transformation 
D)  accurate 
E)  inaccurate

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

In general, when using large dollar amounts, always use the cents, but small dollar amounts can be rounded off to whole numbers.

Accepted Answer

A) True 
 B)False

Question 13

Many seemingly complex spreadsheet models really comprise only a handful of truly distinct formulas.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

In Excel, which function returns the number of cells containing numerical values?

Accepted Answer

A)  CELLS(range) 
B)  NUMBER(range) 
C)  VALUES(range) 
D)  COUNT(range) 
E)  NUMBERS(range) 
A)  CELLS(range) 
B)  NUMBER(range) 
C)  VALUES(range) 
D)  COUNT(range) 
E)  NUMBERS(range)

Question 16

A model needs to do more than transform inputs to outputs; it must also:

Accepted Answer

A)  modify the process 
B)  adjust the controllable inputs 
C)  have a purpose 
D)  control the output 
E)  be accurate 
A)  modify the process 
B)  adjust the controllable inputs 
C)  have a purpose 
D)  control the output 
E)  be accurate

Question 17

For the Goal Seek feature in Excel, it doesn't matter whether you use absolute or relative references.

Accepted Answer

A) True 
 B)False

Question 18

In Excel, Goal Seek is found under which menu option?

Accepted Answer

A)  Insert 
B)  Edit 
C)  File 
D)  Tools 
E)  Data 
A)  Insert 
B)  Edit 
C)  File 
D)  Tools 
E)  Data

Question 19

What are the six steps to developing an effective spreadsheet model?

Accepted Answer

1. Draw a picture to better understand t

Question 20

Which of the following is equivalent to "=SUMPRODUCT(A1:A4,B2:B6)"?

Accepted Answer

A)  A1*A4 + B2*B6 
B)  A1*B2 + A2*B3 + A3*B4 + A4*B5 
C)  (A1+A4)*(B2+B6) 
D)  (A1+A2+A3+A4)*(B2+B3+B4+B5+B6) 
E)  This is an invalid function. 
A)  A1*A4 + B2*B6 
B)  A1*B2 + A2*B3 + A3*B4 + A4*B5 
C)  (A1+A4)*(B2+B6) 
D)  (A1+A2+A3+A4)*(B2+B3+B4+B5+B6) 
E)  This is an invalid function.

In Excel, you can copy text labels by using the:

Define an output.

Which Excel function takes as inputs two separate ranges, then multiplies each pair of numbers in the ranges, and then adds up all these individual products?

Which of the following models is "built" in the user's head and represents the most common form of model?

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

Describe the "IF" function in Excel.

Which of the following is not one of the standard items included in a footer?

To add Cell Comments for a cell in Excel, right-click and choose ____________________.

In Excel, what are the keystrokes for the "Paste" command?

If a model produces numerically correct values for the outputs for any legitimate values of inputs, it is said to be

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

In general, when using large dollar amounts, always use the cents, but small dollar amounts can be rounded off to whole numbers.

Many seemingly complex spreadsheet models really comprise only a handful of truly distinct formulas.

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

In Excel, which function returns the number of cells containing numerical values?

A model needs to do more than transform inputs to outputs; it must also:

For the Goal Seek feature in Excel, it doesn't matter whether you use absolute or relative references.

In Excel, Goal Seek is found under which menu option?

What are the six steps to developing an effective spreadsheet model?

Which of the following is equivalent to "=SUMPRODUCT(A1:A4,B2:B6)"?

Introduction to Operations Management

Operations Strategy and Competitiveness

Product Design and Process Selection

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

Inventory Management

Aggregate Planning

Resource Planning

Scheduling

Project Management

Introduction to Optimization

Waiting Line Models

Master Scheduling and Rough-Cut Capacity Planning

Filters

Exam 17: Spreadsheet Modeling: An Introduction

In Excel, you can copy text labels by using the:

Define an output.

Which Excel function takes as inputs two separate ranges, then multiplies each pair of numbers in the ranges, and then adds up all these individual products?

Which of the following models is "built" in the user's head and represents the most common form of model?

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

Describe the "IF" function in Excel.

Which of the following is not one of the standard items included in a footer?

To add Cell Comments for a cell in Excel, right-click and choose ____________________.

In Excel, what are the keystrokes for the "Paste" command?

If a model produces numerically correct values for the outputs for any legitimate values of inputs, it is said to be

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

In general, when using large dollar amounts, always use the cents, but small dollar amounts can be rounded off to whole numbers.

Many seemingly complex spreadsheet models really comprise only a handful of truly distinct formulas.

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

In Excel, which function returns the number of cells containing numerical values?

A model needs to do more than transform inputs to outputs; it must also:

For the Goal Seek feature in Excel, it doesn't matter whether you use absolute or relative references.

In Excel, Goal Seek is found under which menu option?

What are the six steps to developing an effective spreadsheet model?

Which of the following is equivalent to "=SUMPRODUCT(A1:A4,B2:B6)"?

Introduction to Operations Management

Operations Strategy and Competitiveness

Product Design and Process Selection

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

Inventory Management

Aggregate Planning

Resource Planning

Scheduling

Project Management

Introduction to Optimization

Waiting Line Models

Master Scheduling and Rough-Cut Capacity Planning

Filters