CH10

A one-way data table summarizes a. a single input's impact on the output of interest. b. multiple inputs' impact on a single output of interest. c. values of the input cells that will cause the single output value to equal zero. d. values of cells when not all of the model is observable on the screen.

A

A(n) ____________ refers to a model input that can be controlled in a spreadsheet model. a. decision variable b. outlier c. parameter d. dummy variable

A

Excel's _____________ tool allows the user to determine the value of an input cell that will cause the value of a related output cell to equal some specified value. a. Goal Seek b. Watch Window c. Data Validation d. XLMiner

A

The ________ function allows the user to pull a subset of data from a larger table of data based on some criterion. a. VLOOKUP b. IF c. SUMIF d. COUNTIF

A

The _____________ button provides an automatic means of checking for mathematical errors within formulas of a worksheet. a. Error Checking b. Trace Precedents c. Watch Window d. Math & Trig

A

The arguments supplied to the IF function, in order, are the condition for execution, a. the result if condition is true, and the result if condition is false. b. and the range of cells to test. c. the array1 of data cells to test, and the array2 of data cells to output. d. the result if condition is false, and the result if condition is true.

A

The conceptual model a. helps in organizing the data requirements. b. controls the model inputs. c. has tools defined to identify the optimal solution. d. explores the effects of changing model parameters.

A

The function of Trace Precedents and Trace Dependents is to a. highlight errors in copying and formula construction. b. ascertain how model parts are segregated. c. trace the range of cells included in the Watch Window box list. d. investigate the cell calculations in great detail.

A

What do nodes in an influence diagram represent? a. Part of the model b. Influence levels c. Road maps d. Environmental factors

A

Which of the following design guidelines, if followed, enables the user to update the model parameters without the risk of mistakenly creating an error in a formula? a. Separating the parameters from the spreadsheet model b. Documenting the spreadsheet model c. Using numbers in the spreadsheet formula d. Using simple formulas

A

A(n) _____________ is a visual representation that shows which entities affect others in a model. a. decision tree diagram b. influence diagram c. entity chart d. time series plot

B

An Excel _________________ quantifies the impact of changing the value of a specific input on an output of interest. a. Watch Window b. Data Table c. Goal Seek d. Chart

B

Spreadsheet models are referred to as what-if models because they a. are mathematical and logic-based models. b. allow easy instantaneous recalculation for a change in model inputs. c. come preloaded on computers. d. have specialized functions to perform detailed analysis.

B

The VLOOKUP with range set to _________ takes the first argument and searches the first column of the table for the last row that is strictly less than the first argument. a. FALSE b. TRUE c. LESS d. NULL

B

The _________ function pairs each element of the first array with its counterpart in the second array, multiplies the elements of the pairs together, and adds the results. a. SUM b. SUMPRODUCT c. SUMIF d. VLOOKUP

B

The __________ function is used for the conditional computation of expressions in Excel. a. EFFECT b. IF c. FALSE d. NOT

B

The ____________ button, located in the Formula Auditing group, creates arrows pointing to the selected cell from cells that are part of the formula in that cell. a. Trace Dependents b. Trace Precedents c. Error Checking d. Watch Window

B

The calculations of a cell can be investigated in great detail by using the ___________ button. a. Calculation Options b. Evaluate Formula c. Error Checking d. Show Formulas

B

The influence in an influence diagram is visually depicted by a. a circular symbol. b. an arrow. c. a straight line. d. the height of the influence diagram.

B

The modeling process begins with the framing of a ______________ that shows the relationships between the various parts of the problem being modeled. a. mathematical model b. conceptual model c. circular model d. correlation model

B

Arrows pointing from the selected cell to cells that depend on the selected cell are generated by using the ___________ button of the Formula Auditing group. a. Error Checking b. Trace Precedents c. Trace Dependents d. Watch Window

C

Excel searches for an exact match of the first argument in the first column of the data when the range in the VLOOKUP function is a. TRUE. b. NULL. c. FALSE. d. EXACT.

C

Navigation in a spreadsheet model can be facilitated by a. using different spreadsheets for each formula in the model. b. using long calculations in the cells. c. using clear labels and proper formatting and alignment. d. referencing data by using hyperlinks to the problem statement.

C

The SUM function in Excel a. adds up all the numbers in the cells diagonally. b. adds up only positive numbers in a range of cells. c. adds up all the numbers in a range of cells. d. adds up the cells specified by a given condition or criteria.

C

The Watch Window is observable a. only when the complete model is observable on the screen. b. only in the same worksheet of a workbook. c. across different worksheets of a workbook. d. across different workbooks in the same folder.

C

The condition that VLOOKUP assumes is that a. there are no nonzero values in the range. b. all the arguments are of the same dimension. c. the first column of the table is sorted in ascending order. d. the columns with empty cells are to be neglected.

C

The user can monitor how listed cells change with a change in the model without searching through the worksheet or changing from one worksheet to another by using the ______________ functionality. a. Goal Seek b. Evaluate Formula c. Watch Window d. Trial-and-error

C

Which of the following is true of spreadsheet packages used in business analytics? a. They are more expensive than specialized packages. b. They require substantial user training. c. They come preloaded on computers. d. They do not have specialized functions to perform detailed analyses.

C

With reference to a spreadsheet model, an uncontrollable model input is known as a(n) a. decision variable. b. dummy variable. c. parameter. d. statistic.

C

In _______________ decision making companies have to decide whether they should manufacture a product or outsource its production to another firm. a. goal seek b. two-way c. voting-based d. make-versus-buy

D

The ____________ button in the Formula Auditing group allows the user to inspect each formula in detail in its cell location. a. Evaluate Formula b. Error Checking c. Watch Window d. Show Formulas

D

The impact of two inputs on the output of interest is summarized by a a. Goal Seek. b. Watch Window. c. multiple-way data table. d. two-way data table.

D

Which of the following approaches is a good way to proceed with the influence diagram building for a problem? a. The influence diagram for the entire problem is build first and then separate portions are clustered to form separate models. b. The influence diagram for all the model parts at the same level are built in parallel to reduce the likelihood of error. c. The influence diagram is reverse engineered -the diagram is developed in the opposite direction starting with the model output. d. The influence diagram for a portion of the problem is built first and then expanded until the total problem is conceptually modeled.

D

Which of the following tools provides an excellent means of identifying the exact location of an error in a formula? a. Error Checking b. Function Library c. Show Formulas d. Evaluate Formula

D

With reference to the SUMPRODUCT function, which of the following statements is true? a. The range of cells for each array must contain only nonzero values. b. Any cell that does not satisfy the specified given condition or criteria will not be considered. c. The array appearing as the first argument must be sorted in ascending order. d. The arrays that appear as arguments must be of the same dimension.

D

Within a given range of cells, the number of times a particular condition is satisfied is computed by using the ________ function. a. SUMIF b. IF c. VLOOKUP d. COUNTIF

D