Deck 19: Excel: Formulas and Functions: Performing Quantitative Analysis

Question 1

Which of the following is a new feature in Excel 2013?

A)Lookup tables
B)The COUNT functions
C)Quick Analysis
D)The Range Names feature

Answer 1

C

Question 2

What does the MEDIAN function do?

A)Identifies the lowest value in a range
B)Identifies the midpoint value in a set of values
C)Identifies the highest value in a range
D)Tallies the number of cells in a range that contain values

Answer 2

B

Question 3

Argument names that display in ________ are required;others are optional.

A)italic
B)all caps
C)red
D)bold

Answer 3

D

Question 4

The SUM function:

A)identifies the midpoint value in a set of values.
B)calculates the total of values contained in two or more cells.
C)calculates the arithmetic mean or average of values in a range.
D)displays the lowest value in a range.

Question 5

A mixed cell reference:

A)occurs when a formula directly or indirectly refers to the cell containing the formula.
B)causes a potential error.
C)contains absolute or relative cell references,but not both.
D)contains both an absolute and a relative cell reference.

Question 6

Syntax:

A)displays a list of functions and defined names as you enter a function.
B)is a small pop-up description that displays the arguments for a function as you enter it.
C)is a set of rules that govern the structure and components for a function.
D)is an input such as a cell reference or a value needed to complete a function.

Question 7

The COUNTBLANK function:

A)tallies the number of blank cells in a range.
B)highlights every blank cell in a range.
C)displays the current date in every blank cell in a range.
D)tallies the number of cells in a range that are not empty.

Question 8

For a straightforward,basic mathematical expression,it is best to use:

A)the arithmetic mean or average of values.
B)a formula like =C16*C17.
C)a function such as =SUM(B4:C4).
D)a nested formula inside of a function.

Question 9

The ellipsis in function syntax indicates that:

A)you can add as many additional ranges as desired.
B)the function has an error embedded in it.
C)the function is part of the Logical function category.
D)you are required to add additional ranges.

Question 10

What does a function ScreenTip do?

A)Automatically inserts functions such as SUM (B4:C4)
B)Calculates the total of values contained in two or more cells
C)Automatically inserts formulas such as =B4+C4
D)Displays a small pop-up description of the arguments for a function as you enter it

Question 11

A relative cell reference:

A)indicates a cell's specific location and the reference does not change when you copy the formula to another cell or range.
B)contains both an absolute and a relative cell reference.
C)indicates a cell's relative location from the cell containing the formula;the reference changes when you copy the formula.
D)occurs when a formula directly refers to the cell containing the formula.

Question 12

What does the TODAY function do?

A)Evaluates the day of the week,the date,and the time that the function was entered
B)Displays the current date and time
C)Displays the current date
D)Displays any day that the user enters

Question 13

When #NAME? displays in a cell,you may have:

A)used a range name that doesn't exist.
B)used a worksheet name in the formula that does not exist.
C)mistyped a workbook name in a function.
D)mistyped the name of a function.

Question 14

Which of the following is NOT one of Excel's three basic count functions?

A)COUNTA
B)COUNTBLANK
C)COUNTEMPTY
D)COUNT

Question 15

An absolute cell reference:

A)causes a potential error.
B)indicates a cell's specific location and the reference does not change when you copy the formula.
C)happens only when a formula indirectly refers to the cell containing the formula.
D)contains both an absolute and a relative cell reference.

Question 16

A circular reference:

A)is a predefined formula that performs a calculation.
B)is a rule that governs the structure and components for functions.
C)occurs when a formula directly or indirectly refers to the cell containing the formula.
D)is an input such as a cell reference or a value needed to complete a function.

Question 17

Formula AutoComplete:

A)results in formulas such as =B4+C4.
B)calculates the total of values contained in two or more cells.
C)is a small pop-up description that displays the arguments for a function as you enter it.
D)displays a list of functions and defined names as you enter a function.

Question 18

How many arguments are required for the SUM function?

A)1
B)2
C)3
D)It depends on the type of SUM function

Question 19

A nested function:

A)contains data for the basis of the lookup and data to be retrieved.
B)is the lowest value for a specific category or series in a lookup table.
C)looks up a value and returns a related result from the lookup table.
D)contains another function embedded inside one or more of its arguments.

Question 20

Which of the following is FALSE about a function in Excel?

A)A function is a predefined formula that performs a calculation.
B)There are more than 400 functions in Excel 2013.
C)Functions are organized into two categories in Excel.
D)Functions in Excel must adhere to correct syntax.

Question 21

To simplify entering ranges in formulas you can use:

A)range names.
B)a cell's relative location.
C)both an absolute and a relative cell reference.
D)a cell's absolute location.

Question 22

The breakpoint:

A)looks up a value and returns a related result from the lookup table.
B)is a range containing a lookup table.
C)is the lowest value for a specific category or series in a lookup table.
D)is a reference to a cell containing a value to look up.

Question 23

What is a lookup table used for?

A)It looks up a value and returns a related result.
B)It contains data for the basis of a lookup and the data to be retrieved.
C)It is the lowest value for a specific category or series.
D)It is a reference to a cell containing a value to look up.

Question 24

A circular reference occurs when a formula directly or indirectly refers to the cell containing the formula.

Question 25

In Excel 2013,the function name describes the purpose of the function.

Question 26

An argument is an operator such as an equal sign or a plus sign needed to complete a function.

Question 27

The formula =C4*D4 uses only relative cell references.

Question 28

Which of the following is FALSE about the NOW function?

A)It displays the current date in a cell.
B)It uses the computer's clock to display the date and time.
C)It uses military time.
D)It displays the current date and time.

Question 29

The lookup value:

A)is the argument in a function that identifies which lookup table column from which to return a value.
B)looks in a horizontal table where the first row contains the values.
C)is a reference to a cell containing a value to look up.
D)is a range containing a lookup table.

Question 30

When you decrease the decimal places that display in a cell,Excel rounds the value stored in that cell and uses the rounded value in calculations.

Question 31

The AVERAGE function can be used to calculate the student class average or a quiz or exam.

Question 32

A function in Excel must begin with a plus sign (+).

Question 33

The nper in a PMT function is:

A)the total number of payment periods.
B)a word or a string of characters that represent one or more cells.
C)the present value of a loan.
D)a set of range names.

Question 34

A range name:

A)indicates a cell's specific location and the reference does not change when you copy the formula.
B)is a word or a string of characters that represent one or more cells.
C)indicates a cell's relative location from the cell containing the formula.
D)always begins with an equal sign (=).

Question 35

The rate in a PMT function is:

A)the periodic interest rate,such as a monthly interest rate.
B)the total number of payment rate periods.
C)a word or a string of characters that represent one or more cells.
D)the rate of present value of a loan.

Question 36

Because the SUM function is a rarely used function it has no button on the Ribbon.

Question 37

Excel displays a red arrow in the top left corner of a cell if it detects a possible error.

Question 38

Excel 2013 contains more than 650 functions.

Question 39

The logical test:

A)is the lowest value for a specific category or series in a lookup table.
B)evaluates true or false.
C)contains another function embedded inside one or more of its arguments.
D)contains data for the basis of the lookup and data to be retrieved.

Question 40

The IF function:

A)contains data for the basis of the lookup and data to be retrieved.
B)looks up a value and returns a related result from a lookup table.
C)evaluates a condition and returns one value if the condition is true,a different if false.
D)contains another function embedded inside one or more of its arguments.

Question 41

The pv of a PMT function refers to the present value of a loan.

Question 42

One benefit of using range names is that if you copy the formula,you do not have to make the cell reference absolute in the formula.

Question 43

If you change a range name,you must change all formulas that use that range name as well.

Question 44

You can use text within a formula.

Question 45

The TODAY and the NOW functions display the date and time that a workbook was last opened or last calculated.

Question 46

The PMT function calculates the breakpoint of the lowest value for a specific category.

Question 47

The =DATE(year,month,day)function returns a serial number for a date.

Question 48

________ references usually cause inaccurate results.

Question 49

The second argument for the IF function is the logical test.

Question 50

While lookup tables are typically designed vertically,they can also be designed horizontally.

Question 51

The ________ key toggles between relative,absolute,and mixed references.

Question 52

If a formula contains a reference to the cell containing a formula,a(n)________ reference exists.

Question 53

A range name can contain up to 450 characters and it must begin with a number.

Question 54

A(n)________ cell reference provides a permanent reference to a specific cell.

Question 55

The IF function only evaluates a condition if the condition is true.

Question 56

The TODAY function displays what is due to be done today.

Question 57

A relative cell ________ indicates a cell's relative location.

Question 58

You can choose to use range names in formulas that you create instead of cell references.

Question 59

The logical test evaluates true or false.

Question 60

A table array for a lookup function is the range that contains the lookup table.

Question 61

The ________ function category performs calculations such as averages and standard deviations.

Question 62

The ________ function returns one value if a condition is true and another if a condition is false.

Question 63

The =________(serial_number)function displays the day within a given month for a date or its serial number.

Question 64

A range name cannot include special characters or ________.

Question 65

The ________ test is an IF function that tests for a true or false of a condition.

Question 66

A(n)________ function occurs when one function is embedded as an argument within another function.

Question 67

Formula ________ displays a list of functions and defined names that match the letters that you start typing when creating a formula.

Question 68

The PMT function uses ________ required arguments and up to two optional arguments.

Question 69

The ________ function totals the values in two or more cells and displays the result in the cell containing the function.

Question 70

The ________ function calculates the periodic payment for a loan with interest.

Question 71

________ is a set of analytical tools to use to apply formatting,create charts,and insert basic functions.

Question 72

The first argument in a PMT function is the ________.

Question 73

The ________ function category performs tests and returns the value of the tests.

Question 74

The ________ is the lowest value in a category of a lookup table.

Question 75

You can highlight a range and create a name for the range by clicking on the ________ tab.

Question 76

Excel provides three basic count functions: COUNT,COUNTA,and ________.

Question 77

The IF function in Excel 2013 has ________ arguments.

Question 78

A range name can contain 255 characters and must begin with a(n)________ or an underscore.

Question 79

The ________ function finds the midpoint value of a list.

Question 80

The =DATE(year,month,day)function returns a(n)________ for a date.