Deck 8: Excell: Using the Data Analysis, Solver, and Scenario Features, and Building Complex Formulas

Question 1

The break-even point is reached when ________.

A)income exceeds expenses
B)income exceeds sales
C)income equals sales
D)income equals expenses

Answer 1

D

Question 2

Which of the following would NOT be considered a fixed expense?

A)Utilities
B)Wages
C)Insurance
D)Rent

Answer 2

B

Question 3

Income for a business generally consists of the ________ of products and services.

A)purchase
B)expense
C)operating cost
D)sale

Answer 3

D

Question 4

When calculating a ________,the number range that is averaged is constantly changing-dropping off the first number in the range and adding on the most recent number.

A)scenario
B)projection
C)break-even point
D)moving average

Question 5

To show the year using four digits,such as 2016,you would enter ________ for the custom code format.

A)yyy-yy
B)yy
C)yyyy
D)yyy

Question 6

A moving average is a ________ of averages computed from parts of a data series.

A)sequence
B)chart
C)combination
D)total

Question 7

When you use a moving average,you choose how many preceding ________ to include in the average.

A)sections
B)options
C)sequences
D)intervals

Question 8

Business owners expect that,at some future point,the business will become ________.

A)profitable
B)adverse
C)useful
D)negative

Question 9

Excel has ________ codes that enable you to display dates in a specific date format.

A)symbol
B)date
C)text
D)number

Question 10

One of the basic tools to help project future results based on past performance is ________.

A)a moving average
B)an interval
C)a decision variable
D)a scenario

Question 11

Excel offers tools to help you project ________ results based on past performance.

A)recent
B)current
C)present
D)future

Question 12

To determine a 10% growth rate over a previous month sales,you would take the previous month's sales and ________.

A)divide by 10%
B)multiply by 10%
C)multiply by 110%
D)divide by 110%

Question 13

A moving average calculates an average for a group of numbers over a specified interval allowing you to see ________ for widely fluctuating numbers.

A)an objective
B)a trend
C)a scenario
D)a constraint

Question 14

The formula that calculates the gross profit or loss for a month uses ________.

A)fixed costs minus variable costs
B)expenses minus sales
C)sales minus expenses
D)variable costs minus fixed costs

Question 15

When you use the fill handle to copy a formula across columns,cell references that should NOT change must be ________.

A)mixed
B)absolute
C)relative
D)constant

Question 16

Expenses are classified according to which two broad categories?

A)Stable and fluctuating
B)Fixed and stable
C)Fixed and variable
D)Fluctuating and variable

Question 17

Optional commands and features that are not immediately available and must first be installed for you to use them are referred to as ________.

A)Decision variables
B)Constraints
C)Add-ins
D)Scenarios

Question 18

A sequence of averages computed from parts of a data series is ________.

A)a constraint
B)a scenario
C)a moving average
D)and add-in

Question 19

Which of the following would NOT be considered a variable expense for a restaurant?

A)Wages
B)Food
C)Rent
D)Beverages

Question 20

The custom date code,"ddd,mmm dd" displays in the format ________.

A)Wednesday,July 15
B)Wed,Jul 15
C)Wednesday,Jul 15
D)Wed,July 15

Question 21

A logical function that adds the values in cells that meet specific criteria in multiple ranges.

A)COUNTIF
B)COUNTIFS
C)SUMIF
D)SUMIFS

Question 22

When using Solver,which of the following will NOT be identified during the process?

A)Objective cells
B)Constraint cells
C)Decision variable cells
D)Result cells

Question 23

Solver is one of Excel's ________ tools.

A)prediction
B)forecast
C)break-even
D)what-if analysis

Question 24

A logical function that returns a result of TRUE if all of the conditions are met.

A)AND
B)IF
C)NOT
D)OR

Question 25

A set of values that Excel saves and can substitute automatically in your worksheet is ________.

A)a formula
B)a solution
C)an average
D)a scenario

Question 26

In Solver,________ are cells in which the values will change to achieve the desired results.

A)Intervals
B)Objective cells
C)Constraint cells
D)Decision variables

Question 27

On a line chart,you can change the ________ of the vertical axis to provide more vertical space and a more dramatic slope to the lines.

A)balance
B)degree
C)scale
D)level

Question 28

________ can help determine values that result in maximum or minimum value for a formula in one cell.

A)Add-ins
B)Solver
C)Decision variables
D)Scenario

Question 29

To show trends over time,use a ________ chart.

A)bar
B)pie
C)column
D)line

Question 30

When using Solver,the ________ cell is the cell that contains a formula for the results you are trying to achieve.

A)constraint
B)result
C)objective
D)variable

Question 31

The point on a line chart at which the lines showing sales and expenses cross is called the ________ point.

A)break-even
B)trend
C)no-return
D)profit and loss

Question 32

A business can use ________ statement to create a line chart that shows income and expenses and the projected break-even point.

A)a profit and loss
B)a summary
C)an estimated income
D)a break-even

Question 33

Scenario Manager is one of the tools under ________ in the Forecast group on the Data tab.

A)What-If Analysis
B)Goal Seek
C)Data Validation
D)Data Table

Question 34

When the Scenario Values dialog box displays,it lists the ________ value in each of the decision variable cells.

A)total
B)current
C)future
D)past

Question 35

When you choose to add a Scenario summary,Excel inserts a new ________ in your workbook.

A)option sheet
B)workbook
C)chart sheet
D)worksheet

Question 36

Use Solver when you need to make a decision that involves more than ________ variable(s).

A)four
B)two
C)one
D)three

Question 37

In the ________ you can choose between a Scenario summary,which displays the data in a table,or a Scenario PivotTable report.

A)Scenario Manager
B)Solver
C)Scenario Summary dialog box
D)Evaluate Formula dialog box

Question 38

A function that is contained inside another function,the results of which become the argument for the outer function is called ________.

A)an AND function
B)a nested function
C)a logical function
D)an inner function

Question 39

In Excel,it is NOT possible to create custom date formats.

Question 40

The ________ of a function specifies the arrangement of the arguments in the function.

A)criteria
B)rules
C)logical functions
D)syntax

Question 41

The point at which a business begins to make a profit is called the price point.

Question 42

A scenario is a set of values that Excel saves and can substitute automatically in your worksheet.

Question 43

A line chart is useful for showing trends over time.

Question 44

Solver is an analysis tool that is installed automatically when Excel is first installed.

Question 45

Solver enables you to add a maximum of three constraints using the Solver Parameters dialog box.

Question 46

Fixed expenses remain the same each month regardless of the amount of activity.

Question 47

Variable expenses vary depending on sales.

Question 48

You can calculate a break-even point for a product,a branch office,a division,or an entire company.

Question 49

Decision variables are also referred to as variable cells.

Question 50

On a line chart that shows estimated income and expenses,the point where the lines cross each other is the projected break-even point.

Question 51

The point of profitability is the same as the break-even point.

Question 52

Solver is a tool that you could use to help determine how to minimize weekly payroll expenses.

Question 53

A forecast is a prediction of the future,often based on past performances.

Question 54

You must use Scenario Manager to create a scenario.

Question 55

You can create a scenario from the Solver dialog box,or you can open the Scenario Manager dialog box and create a scenario.

Question 56

After a constraint is added to Solver Parameters,it cannot be deleted.

Question 57

You can use a moving average to calculate a growth rate at different intervals.

Question 58

A moving average is based on historical data,and therefore is a good prediction of what will occur in the future.

Question 59

Rent and wages are the two most common variable expenses.

Question 60

Expenses are typically classified as fixed expenses and variable expenses.

Question 61

The logical function NOT takes only one argument and tests one condition.

Question 62

In a chart,a moving average events out the ________ in data,thus showing a pattern or trend more clearly.

Question 63

In a moving average,the number range that is averaged is constantly changing,dropping off the first number and adding on the most ________ number.

Question 64

Variable expenses vary depending on the amount of ________.

Question 65

The results of a logical test are either TRUE or FALSE.

Question 66

A ________ is a sequence of averages computed from parts of a data series that shows a trend more clearly.

Question 67

You can use the mathematical operators plus sign (+),minus sign (-),division sign (/),and multiplication sign (*)to build complex formulas.

Question 68

________ expenses fluctuate depending on the amount of sales and wages.

Question 69

You can use a ________ chart to display trends over a period of time.

Question 70

A ________ is a prediction of the future,often based on past performances.

Question 71

________ expenses remain the same each month regardless of the amount of activity and often include rent,utilities,and insurance.

Question 72

A new business often operates at a ________ before becoming profitable.

Question 73

________ is one of Excel's what-if analysis tools with which you can find an optimal value for a formula in one cell.

Question 74

________ are elective commands and features that are NOT immediately available that must be installed within Excel before you can use them.

Question 75

The curves and directions of lines on a line chart make ________ noticeable to the user.

Question 76

When entering a function,optional arguments display in the ScreenTip.

Question 77

If the date formats available in Excel are NOT suitable,you can create a ________ date format.

Question 78

The point at which a business begins to make a profit is known as the ________ point.

Question 79

The SUMIFS function adds values in multiple ranges that meet multiple conditions or criteria.

Question 80

Excel's Data Analysis tools,which range from basic to very sophisticated,can help you project future results based on ________ performance.