Question 1

With the LARGE function, the argument called analysis describes the range of cells being evaluated.

Accepted Answer

In the LARGE function, the argument that describes the range of cells being evaluated is called "array," not "analysis."

Question 2

The formula =ROUNDUP(3.432,1) rounds the value 3.432 up to the next highest tenth, or 3.5.

Accepted Answer

The function ROUNDUP(3.432,1) will round up to the next highest tenth, which is 3.5.

Question 3

The ROUND argument num_digits is a single value that can be a constant, a cell reference where the cell contains a numerical value, or another formula that results in a single number value.

Accepted Answer

False

Question 4

The Paste Special dialog box offers Operation options, which allow you to paste values using only three arithmetic operations: Add, Subtract, and Multiply.

Accepted Answer

The Paste Special dialog box in many applications (like Microsoft Excel) offers more than three arithmetic operations for pasting values, including Add, Subtract, Multiply, and Divide.

Question 5

The SMALL function determines the nth smallest value in a range.

Accepted Answer

The SMALL function in Excel can be used to determine the nth smallest value in a range. It is a useful tool for data analysis and is often used in conjunction with other functions like RANK and IF.

Question 6

Simulation is an analytical method that creates artificially generated data to imitate real data.

Accepted Answer

Simulation is a technique of modelling and imitating real-world situations or systems to produce artificial data with the objective of understanding and predicting the behaviour of the actual system.

Question 7

The statistical function MODE returns the most frequently occurring value in a range of data.

Accepted Answer

MODE returns the most frequently occurring value in a range of data.

Question 8

The median is the arithmetic average of a set of numbers.

Accepted Answer

The median is not the arithmetic average, it is the middle value of a sorted set of numbers.

Question 9

Relational operators are used to compare data.

Accepted Answer

Relational operators are used to compare data, such as checking if one value is greater than or equal to another value.

Question 10

Selecting the Set precision as displayed workbook option permanently changes the values in all workbook cells from full precision, which is six digits, to whatever format is displayed in that cell.

Accepted Answer

The "Set precision as displayed" option in Excel does not permanently change the values in cells to six digits; it changes the cell values to match the displayed format, which could be any number of digits based on the format applied, not specifically six.

Question 11

A way to analyze the differences between two sets of data is to look at the percent difference of a value in one data set compared with that value in the second data set.

Accepted Answer

This is a valid way to analyze the differences between two sets of data, as percent difference allows for comparison of values of varying magnitudes.

Question 12

The syntax of the RANK.EQ function is as follows: RANK(number,sort,order).

Accepted Answer

The correct syntax for the RANK.EQ function in Excel is RANK.EQ(number, ref, [order]). The function does not include "sort" as a parameter; instead, it uses "ref" to specify the array or range of data, and "order" is optional to specify ascending or descending order.

Question 13

Result Seek uses an iterative approach to finding the right input that achieves the desired result, or goal, in the dependent cell.

Accepted Answer

The answer of Result Seek uses an iterative approach to...

Question 14

The values TRUE and FALSE are referred to as Boolean values.

Accepted Answer

TRUE and FALSE are indeed referred to as Boolean values.

Question 15

The Format Painter can be used to copy a format into multiple noncontiguous cells.

Accepted Answer

The Format Painter is a feature in Microsoft Excel that allows you to copy formatting from one cell and apply it to other cells in your worksheet. You can use the Format Painter to copy a format into multiple noncontiguous cells by double-clicking on the Format Painter button or by pressing and holding the Ctrl key while selecting the cells you want to copy the format to.

Question 16

The standard deviation tells you how closely together values are distributed.

Accepted Answer

This statement is true. The standard deviation is a measure of the dispersion of a set of values from the mean. A smaller standard deviation indicates that values are closely packed around the mean, while a larger standard deviation indicates that values are more spread out.

Question 17

The technique used to fix certain rows while you scroll to other rows in a worksheet is called freezing panes.

Accepted Answer

Freezing panes is the technique used to keep certain rows or columns visible while scrolling through the rest of the worksheet.

Question 18

If you select the Paste option button called Values, you will paste only the values; the formulas and any formatting from the original cell(s) are not pasted.

Accepted Answer

When you select the Paste option button called Values, you will paste only the values and not the formulas and formatting.

Question 19

Microsoft Excel provides a variety of predefined functions, including statistical functions, that you can use to determine such values as the arithmetic mean, median, mode, and standard deviation of a set of data.

Accepted Answer

This statement is true. Excel offers numerous predefined functions, including statistical functions, that can be used to calculate values such as the mean, median, mode, and standard deviation.

Question 20

The COUNTONLY function counts the number of items in a range that meet specified criteria.

Accepted Answer

The COUNTIF function is used to count the number of items in a range that meet specified criteria. The COUNTONLY function does not exist in Excel.

Quiz 2: Solving Problems with Statistical Analysis Tools