MGS3100 Chapter 1 Part A & B

If you want to add the cells A10 through A20 and then multiply that total by 5%, which formula below would be correct? A. =SUM(A10:A20)*.05 B. =SUM(A10:A20 X .05) C. =SUM(A10:A20)X5% D. =SUM(A10:A20)(%5)

A. =SUM(A10:A20)*.05

Which of the formulas below contain the correct syntax (formula arguments) for the VLOOKUP function? A. =VLOOKUP(lookupvalue, tablearray, colindexnum, range_lookup) B. =VLOOKUP(tablearray, lookupvalue, colindexnum, range_lookup) C. =VLOOKUP(lookupvalue, tablearray, colindexnum, value) D. =VLOOK(lookupvalue, tablearray, colindexnum, range_lookup)

A. =VLOOKUP(lookupvalue, tablearray, colindexnum, range_lookup)

The formula for MEDIAN is? a) MEDIAN(number1,number2,....,last number) b) =MEDIAN(number1,number2,....,last number) c) ==MEDIAN number1, number2,....,last number) d) =MEDIAN number1, number2,....,last number)

B) =MEDIAN(number1,number2,....,last number)

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? A. In column 1, look for a value that matches or is the closest to the value in cell A25. The return the value next to it in column B. B. 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. C. A25*B25 D. None of the above

B. 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.

Total earnings after expenses have been deducted is called a) Revenue b) Profit c) Sunk Cost d) Selling Price Assignment is past due

B. Profit

Which of these statements on Vlookup() is false? A. The Vlookup function can be used to compare a value that's between two values or for an exact value. B. When this function is used to find a value between, you must always place the smallest possible value first in the first column. C. The values of the first column must be in descending order. D. With this function, the comparison table is always read vertically.

C. The values of the first column must be in descending order.

A Sundial is what type of model? a) Analog Model b) Physical Model c) Quantitative Model d) Symbolic Model

a) Analog Model

A car odometer is what type of model? a) Analog Model b) Physical Model c) Quantitative Model d) Symbolic Model

a) Analog Model

A thermometer is what type of model? a) Analog Model b) Physical Model c) Quantitative Model d) Symbolic Model

a) Analog Model

How do you lock the top row in excel so that it will always be visible when you scroll. a) Got to the Freeze Panes in the view tab b) Got to the Freeze Panes in the view Page Layout tab c) Got to the Selection Pane in the view Page Layout tab d) This function is not available in Excel

a) Got to the Freeze Panes in the view tab

All the dogs you have seen are black, hence you concluded that all dogs are black. This type of reasoning is an example of a) Induction b) Deduction c) Discrete d) None of the above

a) 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 a) Induction b) Deduction c) Discrete d) None of the above

a) Induction

The amount of income a company actually receives during a specific period is called a) Revenue b) Profit c) Sunk Cost d) Selling Price

a) Revenue

What are the arguments of the sumproduct function? a) a list of arrays b) a list of text c) a list of decimal numbers d) a list of images

a) a list of arrays

All the students you know taking a biology class are going to a picnic hence you concluded, all students in the biology class are going for picnic. This type of reasoning is an example of a) Deduction b) Induction c) Inaccurate information d) None of the above

b) Induction

An Online survey in which someone is asked to describe a product, collects what type of data? a) Physical b) Qualitative c) Quantitative d) Symbolic

b) Qualitative

A cost that changes with the number of Unit made (or produced) is a) Fixed Cost b) Variable Cost c) Overhead Cost d) Revenue

b) Variable Cost

Clicking on the button fx towards the top left in Excel is generally used for? a) showing a formatting menu b) getting a screen so you can enter the values for formulas like median, vlookup etc c) wrapping the words in a cell d) forcing and deleting values

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

What is Not true about models a) A model helps in prediction and understanding a system b) A Model saves money c) Models are always a perfect representation of a system d) Model helps in Decision making

c) Models are always a perfect representation of a system

A Cost for research to develop a new product can't be included in a profit model and therefore is considered a a) Fixed Cost b) Variable Cost c) Sunk Cost d) Overhead Cost

c) Sunk Cost

RAND function: To make the value as static so that it does not change when we click anywhere in the excel sheet, what is the best method? a) use simple paste b) use Transpose c) copy and paste as values d) use inverse

c) copy and paste as values

What is Not true about models a) are a representation of something b) are an analogy c) does not help in decision making d) saves time

c) does not help in decision making

How do you freeze the total cell so that it doesn't change when copied? a) put a # in front of the letter and number that represents the cell position. b) put a $ behind the letter and number that represents the cell position. c) put a $ in front of the letter and number that represents the cell position. d) you don't do anything, they are already frozen in Excel

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

When one wishes to select the smallest number from a set of data, one should use which function? A. Count B. Max C. Min D. If

c. MIN

A cost for items that are required for each product you make, such as flour for donuts is which type of cost? a) Overhead Cost b) Sunk Cost c) Fixed Cost d) Variable Cost

d) Variable Cost

The cost of the wood that is required to make a table is which type of cost? a) Overhead Cost b) Sunk Cost c) Fixed Cost d) Variable Cost

d) Variable Cost

The RAND function a) returns a random number that is greater than or equal to 0 b) returns a random number that is always less than 1 c) returns a random number that is less than or equal to 0 or greater than 1 d) returns a random number that is greater than or equal to 0 and less than 1

d) returns a random number that is greater than or equal to 0 and less than 1

What is the main function of Vlookup? a) searches for a number equal to or greater than the value of another number in different sheet b) searches for values in the entire sheet randomly c) searches for values based upon index numbers and return another value from the table d) searches for values in a column or row of a spreadsheet list or table and return another value from the table

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