MGS 3100 (not mine)

What function lets you test if something is true or false and then do different things depending on which result you get?

=If()

Which of the formulas below contain the correct syntax (formula arguments) for the VLOOKUP function?

=VLOOKUP(lookupvalue, tablearray, colindexnum, range_lookup)

A particular cell in Excel is referred to by it's cell name which is:

Column-Letter Row-number

All cats are red. Tom has a cat, therefore his cat is red. What type of reasoning is this?

Deduction

What is true for deterministic models?

Every time you run it, you get same result

How do you lock the top row in excel so that it will always be visible when you scroll.

Got to the Freeze Panes in the view tab

Suppose cells A2:B20 contain a table with product numbers in column A and product prices in column B. What does the formula =VLOOKUP(A25,A2:B20,2,FALSE) return?

In column 1, look for a value that matches the value in cell A25. The return the value next to it in column B. If not exact match return #N/A.

All the dogs you have seen are black, hence you concluded that all dogs are black. This type of reasoning is an example of

Induction

The price of stock in Apple has gone up for the last 10 days, hence you conclude Apple stock always goes up. This type of reasoning is an example of

Induction

All of the following are good spreadsheet practices except:

Only the person that created it understands it

A model which gives stock prices based on random changes in the economy is what type of model?

Probabilistic Model

Break even analysis, where a company estimates the amount of sales needed to become profitable is what type of model?

Quantitative Model

Models that are based on Mathematic formula are called?

Quantitative model

Research & Development expenses are which type of cost?

Sunk Cost

What is true for probabilistic models

They include an element of randomness

In a VLOOKUP formula, what does the argument columnindexnumber mean?

This is the number of the column within the selected table_array where the lookup result is located

The MEAN function is used ?

To calculate the average of the selected data

The cost of the wood that is required to make a table is which type of cost?

Variable Cost

A car odometer is what type of model?

analog model

All cars have at least two doors, Audi is a car hence you conclude it has at least two doors. What type of reasoning is this?

deduction

Clicking on the button fx towards the top left in Excel is generally used for?

getting a screen so you can enter the values for formulas like median, vlookup etc

How do you freeze the total cell so that it doesn't change when copied?

put a $ in front of the letter and number that represents the cell position.

The amount of income a company actually receives during a specific period is called

revenue

What is the main function of Vlookup?

searches for values in a column or row of a spreadsheet list or table and return another value from the table