Question 1

In measuring elasticity,as the value of e increases,the result is that any change in price causes a huge change in demand,resulting in a ____ relationship between price and demand.

Accepted Answer

A)  relatively elastic 
B)  perfectly inelastic 
C)  relatively inelastic 
D)  perfectly elastic

Question 2

Once you enter an array formula,Excel will enclose the formula in a set of ____.

Accepted Answer

A)  parentheses 
B)  curly braces 
C)  brackets 
D)  none of the above

Question 3

Which of the following reports is used to quantify the reliability of a solution?

Accepted Answer

A)  Limits 
B)  Sensitivity 
C)  Constraint 
D)  both a.and b.

Question 4

With Goal Seek,Excel changes the ____ values to produce the result values you are looking for.

Accepted Answer

A)  input 
B)  output 
C)  index 
D)  link

Question 5

A(n)mixed expense is an expense that is part variable and part fixed._________________________

Accepted Answer

A) True 
 B)False

Question 6

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-When any change in price is met by an equal and opposite change in demand

Accepted Answer

A) Solver 
B) unit elastic 
C) constraint 
D) add-in 
E) answer report
F)not binding
G)Goal Seek
H)slack
I)limits report
J)result
K)changing
L)objective

Question 7

The Scenario Manager refers to ____________________ cells as changing cells because these worksheet cells contain values that are changed under the scenario.

Accepted Answer

The answer of The Scenario Manager refers to ____________________ cells...

Question 8

When using Goal Seek,select the ____ cell in the Set cell box,and then specify its value (goal)in the To value box.

Accepted Answer

A)  changing 
B)  result 
C)  input 
D)  value

Question 9

A(n)____ is a limit that is placed on a Solver problem's solution.

Accepted Answer

A)  max 
B)  target 
C)  constraint 
D)  adjustment

Question 10

To open the dialog box in the accompanying figure,click the What-If Analysis button in the ____ group.

Accepted Answer

A)  Sorter 
B)  Analysis 
C)  Goal Seek 
D)  Data Tools

Question 11

In Solver,changing cells are sometimes referred to as ____ cells.

Accepted Answer

A)  self-adjusting 
B)  variable 
C)  key 
D)  constraint

Question 12

Case-Based Critical Thinking Questions
Case 10-1
You have been having some difficulty in your economics class this semester,so you have requested support from a tutor.One topic that is giving you trouble at the moment is the price elasticity of demand.
-Increasing the price of an object by 10% decreases demand by 20%.This is an example of what kind of elasticity,according to your tutor?

Accepted Answer

A)  Relatively inelastic 
B)  Perfectly inelastic 
C)  Relatively elastic 
D)  Perfectly elastic

Question 13

To perform a what-if analysis with more than two input cells,you ____.

Accepted Answer

A)  hide all references 
B)  use only exchange values 
C)  apply additional constraints 
D)  create scenarios

Question 14

A(n)____________________ is a customized program that adds commands and features to Microsoft Office programs.

Accepted Answer

The answer of A(n)____________________ is a customized program that adds...

Question 15

In Goal Seek,the ____________________ cell is the cell containing the values you want to examine.

Accepted Answer

The answer of In Goal Seek,the ____________________ cell is the...

Question 16

Changing cells can be located anywhere in the worksheet.

Accepted Answer

A) True 
 B)False

Question 17

-The item marked 4 in the accompanying figure indicates the ____ expenses.

Accepted Answer

A)  fixed 
B)  mixed 
C)  variable 
D)  absolute

Question 18

A(n)optimal cell is a cell that Excel changes to produce the desired result in the target cell._________________________

Accepted Answer

A) True 
 B)False

Question 19

Solver can create the following three different reports: ____.

Accepted Answer

A)  sensitivity,answer,analysis 
B)  constraint,sensitivity,analysis 
C)  analysis,answer,limits 
D)  answer,limits,sensitivity

Question 20

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-Cannot be used when a problem contains integer constraints

Accepted Answer

A) Solver 
B) unit elastic 
C) constraint 
D) add-in 
E) answer report
F)not binding
G)Goal Seek
H)slack
I)limits report
J)result
K)changing
L)objective

Exam 10: Performing What-If Analyses

In measuring elasticity,as the value of e increases,the result is that any change in price causes a huge change in demand,resulting in a ____ relationship between price and demand.

Once you enter an array formula,Excel will enclose the formula in a set of ____.

Which of the following reports is used to quantify the reliability of a solution?

With Goal Seek,Excel changes the ____ values to produce the result values you are looking for.

A(n)mixed expense is an expense that is part variable and part fixed._________________________

MATCHING Identify the letter of the choice that best matches the phrase or definition. -When any change in price is met by an equal and opposite change in demand

The Scenario Manager refers to ____________________ cells as changing cells because these worksheet cells contain values that are changed under the scenario.

When using Goal Seek,select the ____ cell in the Set cell box,and then specify its value (goal) in the To value box.

A(n) ____ is a limit that is placed on a Solver problem's solution.

To open the dialog box in the accompanying figure,click the What-If Analysis button in the ____ group.

In Solver,changing cells are sometimes referred to as ____ cells.

To perform a what-if analysis with more than two input cells,you ____.

A(n)____________________ is a customized program that adds commands and features to Microsoft Office programs.

In Goal Seek,the ____________________ cell is the cell containing the values you want to examine.

Changing cells can be located anywhere in the worksheet.

-The item marked 4 in the accompanying figure indicates the ____ expenses.

A(n)optimal cell is a cell that Excel changes to produce the desired result in the target cell._________________________

Solver can create the following three different reports: ____.

MATCHING Identify the letter of the choice that best matches the phrase or definition. -Cannot be used when a problem contains integer constraints