Question 1

Defined names with a global scope can be created for cells and ranges using the Name box in the Formula Bar, and using the ____ command in the Defined Names group on the FORMULAS tab.
A) Create from Formula
B) Create from Selection
C) Create from Cell
D) Create from Range

Accepted Answer

The "Create from Selection" command in the Defined Names group on the FORMULAS tab is used to create defined names with a global scope for cells and ranges. The other options listed are not valid commands for creating defined names with a global scope.

Question 2

Defined names with a local or global scope can be created using the Define Name command in the Defined Names group on the ____ tab on the ribbon.
A) FORMULAS
B) DATA
C) DATA TABLES
D) WORKSHEET

Accepted Answer

The Define Name command, which allows users to create defined names with either a local or global scope, is located in the Defined Names group on the FORMULAS tab on the Excel ribbon.

Question 3

Excel allows up to ____ changing cells in each scenario.
A) 32
B) 51
C) 255
D) 399

Accepted Answer

The answer of Excel allows up to ____ changing cells...

Question 4

Using ____ can make the process of creating scenarios and using them easier.
A) range names
B) cell names
C) row names
D) column names

Accepted Answer

Cell names can be used to name the cells where the values of the scenarios are entered. This makes it easier to refer to the cells in the scenario and makes it easier to create, manage, and use scenarios. Range, row, and column names are not as useful for scenarios as they do not allow for specific cell referencing.

Question 5

Scenario reports can include data from only the first ____ scenarios.
A) 32
B) 151
C) 251
D) 351

Accepted Answer

Scenario reports can include data from up to the first 251 scenarios.

Question 6

You use the ____ to define and save sets of values as scenarios, and then you view and change them as necessary to produce and compare different results.
A) Scenario Manager
B) Scenario Wizard
C) Values Manager
D) Values Wizard

Accepted Answer

The Scenario Manager is specifically designed to define and save sets of values as scenarios, and allows users to view and change them as necessary to produce and compare different results. The Scenario Wizard is not an actual feature in Microsoft Excel. The Values Manager and Values Wizard also do not exist in Excel.

Question 7

Each ____ in a scenario must be unique within its scope.
A) defined name
B) refined name
C) comment
D) data label

Accepted Answer

A defined name is used to give a unique identifier to a specific element in a scenario. It helps in referring to that element easily and without confusion. Refining the name may help further clarify the element, but it is not necessary for uniqueness within the scope. Comments and data labels are not used for unique identification of elements in a scenario.

Question 8

Data tables help you answer questions such as: ____.
A) If I change the unit price, how does that affect gross profit?
B) If I vary the unit price and the cost of goods sold, how does that affect income before taxes?
C) both a and b
D) neither a nor b

Accepted Answer

Both options A and B describe questions that can be answered using data tables.

Question 9

As one of the final steps of creating a scenario, you create the scenario by naming it and then entering ____ into the Scenario Manager.
A) data
B) file names
C) worksheet names
D) formulas

Accepted Answer

The answer of As one of the final steps of...

Question 10

If a business problem involved three break-even analyses, you could create ____ data table(s) by varying the unit price and sales projection values, but that would involve generating and printing each data table to compare the analyses.
A) one
B) two different
C) three different
D) three identical

Accepted Answer

Since the problem involves three break-even analyses, we need to create three different data tables by varying the unit price and sales projection values for each analysis. Therefore, the best choice is to create three different data tables.

Question 11

To set up a scenario, you create or use a worksheet that contains sets of input and output cells, as you do with data tables. For example, in a worksheet listing sales assumptions and projections, the projections are ____.
A) input cells
B) output cells
C) guiding cells
D) lead cells

Accepted Answer

The projections are the results or outputs of the sales assumptions, making them the output cells in the worksheet. The input cells would be the actual assumptions being used to calculate the projections. Guiding cells and lead cells are not commonly used terms in this context.

Question 12

Data tables can be used to give you ____.
A) break-even information
B) information about the interaction of various selling prices
C) information about how sensitive profits are to price changes
D) all of the above

Accepted Answer

Data tables can provide break-even information by calculating the point at which revenue equals costs. They can also show the impact of different selling prices on profits, helping to determine the most profitable price point. Finally, data tables can illustrate how sensitive profits are to price changes by demonstrating the effect of small changes in price on overall profitability. Therefore, all of the answer choices are correct.

Question 13

You can use the Scenario Manager to perform a what-if analysis with ____ input cell(s).
A) at most one
B) at most two
C) only one or two
D) more than two

Accepted Answer

The Scenario Manager in Excel allows you to perform what-if analysis with more than two input cells, enabling you to evaluate various scenarios by changing multiple inputs simultaneously.

Question 14

Although Excel does not consider case when evaluating cell names, the use of case differences in cell names can make them ____.
A) easier to read
B) easier to interpret
C) both a and b
D) neither a nor b

Accepted Answer

Using case differences in cell names can make them both easier to read and easier to interpret, as it helps in distinguishing different parts or types of names, making the spreadsheet more user-friendly and understandable.

Question 15

The textbook recommends using defined names that are fairly ____ and meaningful.
A) short
B) long
C) unusual
D) common

Accepted Answer

Defined names in programming and spreadsheet applications should be short to make them easy to type and remember, but also meaningful enough to understand their purpose at a glance.

Question 16

When applying names to cells and ranges, to indicate the start and end of words, the textbook recommends ____.
A) using a mix of uppercase and lowercase letters
B) including underscore ( _ ) characters
C) including a period ( . ) character
D) all of the above

Accepted Answer

The answer of When applying names to cells and ranges,...

Question 17

To determine the ____ in a worksheet, ask which input assumptions you want to vary from one option to another.
A) changing cells
B) result cells
C) variance cells
D) formula cells

Accepted Answer

Changing cells are the cells that you want to vary in order to see how the results will differ. By changing the input assumptions in these cells, you can perform what-if analysis and see the impact on the result cells. So, to determine the sensitivity of the worksheet, you need to identify the changing cells.

Question 18

As with data tables, Excel allows you to run scenarios only on worksheets that have well-structured input and output sections, with the output section depending on the input section through the use of ____.
A) formulas
B) formats
C) hyperlinks
D) range names

Accepted Answer

Scenarios involve changing input values and observing the resulting changes in output values, which are calculated through formulas. Therefore, the input and output sections need to be connected through formulas in order for scenarios to work properly. Formats, hyperlinks, and range names do not play a role in scenario analysis.

Question 19

Before you start creating scenarios, you can name the ____ cells you plan to use in the scenario.
A) input
B) result
C) both a and b
D) neither a nor b

Accepted Answer

In scenario creation, naming both input and result cells is a common practice to make the management and identification of these cells easier when setting up and analyzing different scenarios. Input cells are where you change values to see different outcomes, and result cells show the outcomes based on those inputs.

Question 20

A defined name can be used outside its scope if it is ____, which means if its original scope is identified in its reference.
A) qualified
B) saved
C) archived
D) linked

Accepted Answer

A defined name can be used outside its original scope if it is qualified, meaning that its original scope is identified in its reference by using the syntax "ScopeName.DefineName".

Quiz 8: Using Data Tables and Excel Scenarios for What If Analysis

Defined names with a global scope can be created for cells and ranges using the Name box in the Formula Bar, and using the ____ command in the Defined Names group on the FORMULAS tab.

Defined names with a local or global scope can be created using the Define Name command in the Defined Names group on the ____ tab on the ribbon.

Excel allows up to ____ changing cells in each scenario.

Using ____ can make the process of creating scenarios and using them easier.

Scenario reports can include data from only the first ____ scenarios.

You use the ____ to define and save sets of values as scenarios, and then you view and change them as necessary to produce and compare different results.

Each ____ in a scenario must be unique within its scope.

Data tables help you answer questions such as: ____.

As one of the final steps of creating a scenario, you create the scenario by naming it and then entering ____ into the Scenario Manager.

If a business problem involved three break-even analyses, you could create ____ data table(s) by varying the unit price and sales projection values, but that would involve generating and printing each data table to compare the analyses.

To set up a scenario, you create or use a worksheet that contains sets of input and output cells, as you do with data tables. For example, in a worksheet listing sales assumptions and projections, the projections are ____.

Data tables can be used to give you ____.

You can use the Scenario Manager to perform a what-if analysis with ____ input cell(s) .

Although Excel does not consider case when evaluating cell names, the use of case differences in cell names can make them ____.

The textbook recommends using defined names that are fairly ____ and meaningful.

When applying names to cells and ranges, to indicate the start and end of words, the textbook recommends ____.

To determine the ____ in a worksheet, ask which input assumptions you want to vary from one option to another.

As with data tables, Excel allows you to run scenarios only on worksheets that have well-structured input and output sections, with the output section depending on the input section through the use of ____.

Before you start creating scenarios, you can name the ____ cells you plan to use in the scenario.

A defined name can be used outside its scope if it is ____, which means if its original scope is identified in its reference.