BUSI 520 Ch 5

In order to correctly use an "exact match" VLOOKUP function, the values in the first column of the lookup table must be sorted in ascending order.

False

The ISERR function refers to any error value (#N/A, #VALUE!, #REF!, #DIV/0!, #NUM!, #NAME?, or #NULL!).

False

The ISERROR function refers to any error value except #N/A.

False

The range_lookup argument of the VLOOKUP and HLOOKUP functions is the range of values to be looked up in order to determine the function's result.

False

Values in a "closest match" vlookup table must be sorted in descending order so that the VLOOKUP function can make accurate comparisons.

False

When using VLOOKUP or HLOOKUP to look up a number that can fall within a range of values, you should be using an "Exact Match" lookup

False

You can only use the VLOOKUP and the HLOOKUP formulas to retrieve data stored in lookup tables on the same worksheet.

False

When entered in a worksheet named Forecast, the formula =Costs!B5*C5 multiples the value in cell B5 of the "Costs" worksheet by the value in cell C5 of the "Costs" worksheet.

False; When entered in a worksheet named Forecast, the formula =Costs!B5*C5 multiples the value in cell B5 of the "Costs" worksheet by the value in cell C5 of the "Forecast" worksheet.

The function =HLOOKUP(F12,$A$3:$D$10,3,TRUE) retrieves the value from the third column of the lookup table.

False; third ROW of the lookup table.

Use the _____ function to retrieve a value from a table based on the row and column numbers specified.

INDEX; The INDEX function returns the value of an element in a table or an array selected by the row and column number indexes. (The LOOKUP function returns a value either from a one-row or one-column range.)

Use _____ to check whether a specified reference or formula returns an empty cell.

ISBLANK

Ranges can be named in Excel to make it easier to reference the worksheet when using formulas or functions.

True

The ISBLANK function returns a value of TRUE or FALSE.

True

The lookup_value argument in a VLOOKUP or HLOOKUP function is often a number, text, a logical value, or a cell reference...but the lookup_value argument can also be a formula.

True

To specify an "Exact Match" vlookup, enter the word False into the range_lookup argument of the vlookup function.

True

The "V" in VLOOKUP stands for _____.

Vertical

A LOOKUP function is used to retrieve a value from _____.

a column or row

The number of the column containing the data you want to retrieve for the VLOOKUP function is the _____.

col_index_num

When using a VLOOKUP function, the first column of the lookup table that contains the data you are comparing to your "lookup_value" is/are called the _____.

key data

The VLOOKUP function "looks up" a value and evaluates (compares) it against values in a lookup_table (the "key data") in order to return a matching "answer." When constructing a table_array to be used as lookup reference table, the "key data" should be placed in the ____.

leftmost column; The VLOOKUP function "looks up" a value and evaluates (compares) it against the values (key data) in the leftmost column of a table_array. The VLOOKUP function returns a matching answer from the table_array by pulling it from the column specified by the col_index_num.

A data list that categorizes values for retrieval is a(n) _____ table.

lookup

For the VLOOKUP function, the _____ is the data to be looked up.

lookup_value

The _____ argument of the VLOOKUP function is the type of lookup...the value should be either TRUE or FALSE.

range_lookup

The function =HLOOKUP(F16,Discounts,2,TRUE) retrieves the value in

row of table_array