Ch. 6 Excel
A program that can be added to Excel to provide enhanced functionality.
Add-in
A constraint that Solver enforces to reach the target value.
Binding constraint
A cell containing a variable whose value changes until Solver optimizes the value in the objective cell.
Changing variable cell
A limitation that imposes restrictions on Solver.
Constraint
A tool that identifies the necessary input value to obtain a desired goal.
Goal seek
Doug would like to purchase a new automobile. He has budgeted for $600 per month. If the interest and number of payments are constant variables that cannot change, which analysis tool should Doug use to calculate the amount to spend on a car?
Goal seek
This tool calculates the value required in a single cell to produce a desired result within a related cell.
Goal seek
A set of values that represent a possible situation.
Scenario
Which dialog box enables you to specify the result cells for a scenario summary report?
Scenario Summary
Enables you to define and manage scenarios to compare how they affect results.
Scenario manager
Which tools are best suited to calculate the impact of multiple interest rates on an auto loan? (Check all that apply.)
Scenario manager, one-variable data table
A worksheet that contains scenario results.
Scenario summary report
An add-in application that manipulates variables based on constraints to find the optimal solution to a problem.
Solver
This analysis tool has the ability to handle multiple adjustable cells while minimizing, maximizing, or meeting goals.
Solver
Which of the following is an Excel add-in?
Solver
Which of the following tools can incorporate constraints?
Solver
Which what-if analysis tool is the best option for complex calculations requiring constrained optimization?
Solver
How can you determine if the Solver add-in is active? (Check all that apply.)
Solver appears in the Data tab of the Ribbon, Solver is an option in the Home tab of the Ribbon
Replaces the original value of a variable in a data table.
Substitution value
A data analysis tool that provides results based on changing two variables.
Two-variable data table
Which tool is most effective when comparing the impacts of various combinations of interest rates and down payments on a mortgage?
Two-variable data table
A value that you can change to see how that change affects other values.
Variable
The process of changing variables to observe how changes affect calculated results.
What-if analysis
A constraint that does not restrict the target value that Solver finds.
Nonbinding constraint
The cell that contains the formula-based value that you want to maximize, minimize, or set to a value in Solver.
Objective cell
A data analysis tool that provides various results based on changing one variable.
One-variable data table
Finds the highest, lowest, or exact value for one particular result by adjusting values for selected variables.
Optimization model