Business Analytics Chapter 10

A one-way data table summarizes

a single input's impact on the output of interest.

Using various interest rates to determine the amount of loan payments is an example of

a what-if analysis

You would ________ a table if you wanted to display only data that matches specific criteria.

filter

A method to find a specific value in a cell by adjusting the value of another cell is

goal seek

_________ can be used to determine the maximum loan amount with payments that stay within your budget.

goal seek

A(n) _______ is a visual representation that shows which entities affect others in a model.

influence diagram

Which of the following is NOT possible with VLOOKUP?

look up values located in a column to the left of the column that contains the lookup value

With reference to a spreadsheet model, an uncontrollable model input is known as a(n) __________.

parameter

The COUNTIF function takes two arguments. What are they (in proper order)?

range of cells to check and logical condition =COUNTIF(range, condition)

VLOOKUP assumes that the first column of the table is

sorted in ascending order

Look at the cells that are linked to another cell using

trace dependents

In a make-versus-buy decision, companies have to decide whether they should manufacture a product or outsource its production to another firm.

true

The defined range for a VLOOKUP formula must have at least ________ rows or columns.

two

The process of changing the values in cells to see how those changes affect the outcome of formulas on a worksheet is called

what-if analysis

Goal seek is part of a suite of data tools used for

what-if analysis -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

The Excel operator for "not equal to" is

<>

What Excel formula could be used to perform the following computation? B5*B17 + C5*C17 + D5*D17 + B6*B18 + C6*C18 + D6*D18 + E6*E18 + B7*B19 + C7*C19 + D7*D19 + E7*E19

=SUMPRODUCT(B5:E7,B17:E19) -=SUMPRODUCT(array1,array2)

VLOOKUP formula

=VLOOKUP(value, table, index, range)

________ functions search for a corresponding value in a defined range of cells located in another part of the workbook.

Lookup

___________ functions look up a value in a defined range of cells located in another part of the corresponding workbook to find a value.

Lookup

What does trace precedents do?

Returns tracer arrows from the active cell to each cell that it provides data to

Which of the following is a logical function that will add values in multiple ranges that meet multiple criteria?

SUMIF

The formula = SUMIF(B2:B10, ">0", C2:C10) for a particular cell will find:

The sum of all of the values in the range C2:C10 if the corresponding value in the range B2:B10 is greater than zero.

An Excel function that searches values in a table array arranged in columns is the ______________ function.

VLOOKUP

If you have defined a two-column range of cells containing names and phone numbers, you would use the ________ function to match a name with a number.

VLOOKUP -pulls a subset of data from a larger table of data based on some criterion

A logical function that counts the cells that meet specific criteria in a specified range is ________.

COUNTIF

If a column of data holds the marital status for members of a gym, the ________ function could be used to determine how many members are "single".

COUNTIF