COB 300 Finance Harvard Course Pretest Part 1

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Please refer to the following screenshot. Assume the gas prices on dates not listed in the table are unknown. Which of the following is a way of determining the gas price on a given date? If no price is defined for the date entered, the text "not relevant" should be returned. Note that dates are in MM/DD/YYYY format. a. =IFERROR(HLOOKUP(A5,B1:E2,2,FALSE),"not relevant") b. =IFERROR(HLOOKUP(A5,B1:E2,2,TRUE),"not relevant") c. =ISERROR(HLOOKUP(A5,B1:E2,2,FALSE),"not relevant") d. =ISERROR(HLOOKUP(A5,B1:E2,2,TRUE),"not relevant")

RIGHT a. =IFERROR(HLOOKUP(A5,B1:E2,2,FALSE),"not relevant")

Please refer to the following screen shot. Which of the following functions can retrieve the appropriate price for a product category entered in cell B9? a. =INDEX(B2:B7,MATCH(B9,A2:A7,0),1) b. =INDEX(A2:A7,MATCH(B9,B2:B7,0),1) c. =MATCH(B9,INDEX(A2:B7),1) d. =MATCH(B9,A2:A7,INDEX(B2:B7),0)

RIGHT a. =INDEX(B2:B7,MATCH(B9,A2:A7,0),1)

Refer to the screenshot below. Which of the following functions, entered in a single cell, can correctly calculate total expenditure for the mentioned items? a. =SUMPRODUCT(C4:C7, D4:D7) b. =SUMPRODUCT(C4:C7 * D4:D7) c. =PRODUCT(C4:C7, D4:D7) d. =PRODUCT(C4:C7 * D4:D7)

RIGHT a. =SUMPRODUCT(C4:C7, D4:D7)

What does the F8 key command do? a. F8 allows you to select multiple cells at one time. b. F8 opens Excel's Spelling and begins checking spelling from the active cell. c. F8 repeats your last action. d. F8 displays the "Go To" dialog box.

RIGHT a. F8 allows you to select multiple cells at one time.

Please refer to the following screenshot. To convert the chart on the left-hand side to the chart on the right-hand side, what is the first step? a. Right-click the chart. b. Click the Insert tab. c. Click the Page Layout tab. d. Click the View tab.

RIGHT a. Right-click the chart.

Greg is using a template to construct a spreadsheet for bookkeeping. After working on it, he needs to save the spreadsheet into a new file so that the template remains unchanged. Where can he find the "Save As" command? a. The File tab b. The Save icon c. The Home tab d. The Data tab

RIGHT a. The File tabRIGHHT

Which of the following statements about selecting a large block of data is correct? a. To select all the data in column B, you can just click the column name, "B". b. To select all the data in column B, you have to click B1, and then hold down and move the mouse all the way to the last cell of column B. c. To select a block of data, you can click the first cell, then hold down Ctrl before clicking the last cell of the block. d. By holding down the Shift key, you can only choose one column or one row of data, but not multiple rows and columns.

RIGHT a. To select all the data in column B, you can just click the column name, "B".

Instead of using the default formats for dates in Excel, one can create one's own custom formats. a. True b. False

RIGHT a. True

RIGHT a. =COUNTIF(Dollars,">0")

Please download the file pretest.xlsx. For the data in the worksheet Bakery, what is the total revenue earned from selling cake in the Eaton store? a. $1,882.05 b. $1,942.39 c. $2,002.38 d. $3,323.75

WRONG a. $1,882.05

Please refer to the following screenshot. What number will display in cell C3 if the user clicks the small green square at the lower right corner of cell C1 and drags it to cell C7? a. 45 b. 20 c. 18 d. 8

WRONG a. 45

The price of the final product will be determined by the cost of the raw materials. If the cost is less than or equal to $100, the price of the product will be $120. If the cost is more than $100, the price of the product will be $165. Which of the following formulas will give the correct price if entered in Cell B2 of an Excel spreadsheet? a. =IF(B2<=100,120,B2>100,165) b. =IF(B2>100,165,B2<=100,120) c. =IF(B2<=100,120,165) d. =IF(B2<=100,165,120)

WRONG a. =IF(B2<=100,120,B2>100,165)

WRONG a. =PMT(B2,$B$3,$B$1)

Please refer to the following screenshot. Column B in the table shows the amount of sugar used by the three stores every week. Assume each bag of sugar weighs 50 pounds. Which of the following functions should we enter into Cell C2 to calculate the correct number of bags needed? a. =ROUNDUP(B2/50,1) b. =ROUNDUP(B2/50,0) c. =ROUNDDOWN(B2/50,1) d. =ROUNDDOWN(B2/50,0)

WRONG a. =ROUNDUP(B2/50,1)

Please refer to the following screenshot. You want to convert the chart on the left-hand side to the one on the right-hand side, with state names along the x-axis rather than in the legend. How can you complete this task? a. Start over, being careful to select the source data in the correct order. b. On the Layout tab, click the Legend button. c. On the Layout tab, click the Plot Area button, then click the Axes button. d. On the Design tab, click the Switch Row/Column button.

WRONG b. On the Layout tab, click the Legend button.

Tom enters =COUNTBLANK(B2:B100) in a cell of his spreadsheet to achieve some goal. Which of the following is equivalent to the formula that Tom uses? a. = COUNT(B2:B100) b. = COUNT(B2:B100) - COUNTA(B2:B100) c. = COUNTIF(B2:B100,Blank) d. =COUNTIF(B2:B100,"")

WRONG c. = COUNTIF(B2:B100,Blank)

Please refer to the following screen shot. Kyle is modeling potential umbrella sales in his store in the next 10 days. He believes sales would be 100 umbrellas if it is a rainy day, and only 30 if it is a sunny day. According to the meteorologist, the chances of rain in the next 10 days are listed in the following table. Which of the following formulas can help him model the sales of umbrellas in the next 10 days? a. =30+(100-30)*(RAND()<B2) b. =30+(100-30)*(RAND()>B2) c. =30*(RAND()<=B2)+100*(RAND()>B2) d. =30+100*(RAND()<B2)

WRONG c. =30*(RAND()<=B2)+100*(RAND()>B2)

WRONG c. =COUNTIF(Trans_Number,Product="tart")

Which of the following functions returns the date of the day before yesterday? a. =Today()-2 b. =Today(-2) c. =Date(Today-2) d. =Date(Now-2)

WRONG c. =Date(Today-2)

Refer to the screenshot below, where we have the price of different products. A product name is entered in cell B9. Which of the following functions will retrieve the corresponding price of the product? a. =VLOOKUP(B9,A2:B7) b. =VLOOKUP(B9,A2:B7,2,FALSE) c. =HLOOKUP(B9,A2:B7) d. =HLOOKUP(B9,A2:B7,2,TRUE)

WRONG c. =HLOOKUP(B9,A2:B7)

Please refer to the following screenshot. If we want to find the total of the 2nd highest price and the 3rd lowest price, which of the following functions should we use? a. =LARGE(B2:B7,2)+SMALL(B2:B7,3) b. =LARGE(2,B2:B7)+SMALL(3,B2:B7) c. =MAX(2,B2:B7)+MIN(3,B2:B7) d. =MAX(B2:B7,2)+MIN(B2:B7,3)

WRONG c. =MAX(2,B2:B7)+MIN(3,B2:B7)

Please refer to the following screenshot. Assume that orders with a larger number of units have a higher priority. If Aiden wants to virtualize the priorities by highlighting in red to indicate higher priorities, what function can he use? a. in "Conditional Formatting," choose "Color Scales," then choose any scale starting with red. b. in "Conditional Formatting," choose "Color Scales," then choose any scale ending with red. c. in "Conditional Formatting," choose "Data Bars," then choose "Gradient Fill Red." d. in "Conditional Formatting," choose "Data Bars," then choose "Solid Fill Red."

RIGHT a. in "Conditional Formatting," choose "Color Scales," then choose any scale starting with red.

Please refer to the following screenshot. ESell Corp. is trying to maximize its total profit conditional on its limited warehouse space and capital. ESell has three products: Monitors, TVs, and Keyboards. The required capital per unit and storage space per unit of the three products are listed in the screenshot. ESell has $46,500 in capital and 101 square meters of storage space. What is the maximum profit ESell can earn? a. $21,200 b. $12,800 c. $10,800 d. $9,600

RIGHT b. $12,800

Which of the following pairs have the same answer in Excel? a. 25+7*8^3*4-1 and 25+7*8^3*(4-1) b. (25+7)*8^3*4-1 and (25+7)*(8^3)*4-1 c. 25+7*8^(3*4)-1 and 25+7*8^3*4-1 d. (25+7)*8^3*4-1 and 25+7*(8^3)*4-1

RIGHT b. (25+7)*8^3*4-1 and (25+7)*(8^3)*4-1

RIGHT b. =COUNTIFS(Dollars,"<0",Salesperson,"Zack")

Please refer to the following screenshot. Given the list of students' names (first name and last name) and their ID numbers, we want to separate them into three columns: First Name, Last Name, and ID. Which of the following combinations of functions can extract the ID number of the first student? a. =FIND(" ",G2,1) in Cell H2, =FIND(" ",G2,H2) in Cell I2, =LEN(G2) in J2, =RIGHT(G2,J2-I2) in Cell K2 b. =FIND(" ",G2,1) in Cell H2, =FIND(" ",G2,H2+1) in Cell I2, =LEN(G2) in J2, =RIGHT(G2,J2-I2) in Cell K2 c. =FIND(" ",G2,1) in Cell H2, =FIND(" ",G2,H2) in Cell I2, =LEN(G2) in J2, =RIGHT(G2,J2) in Cell K2 d. =FIND(" ",G2,1) in Cell H2, =FIND(" ",G2,H2+1) in Cell I2, =LEN(G2) in J2, =RIGHT(G2,J2) in Cell K2

RIGHT b. =FIND(" ",G2,1) in Cell H2, =FIND(" ",G2,H2+1) in Cell I2, =LEN(G2) in J2, =RIGHT(G2,J2-I2) in Cell K2

Please refer to the following screenshot. Which of the following functions should be entered into Cell C2 to determine where each product ranks in price,with the lowest price receiving a rank of 1? a. =RANK(B2,B2:B7,0) b. =RANK(B2,B2:B7,1) c. =SMALL(B2:B7,B2) d. =SMALL(B2:B7,B2,1)

RIGHT b. =RANK(B2,B2:B7,1)

To wrap the text in a cell, one needs to select the cell first, then right-click and choose Format Cells in the pop-up menu. Under which tab on the Format Cells dialogue box can we find the setting for wrapping text? a. Number b. Alignment c. Font d. Border

RIGHT b. Alignment

Is the following statement true or false? In Excel, you can only print the active worksheet. If you need to print other worksheets in the same file, you have to click the tab of those worksheets to activate them. a. True b. False

RIGHT b. False

Please refer to the following screenshot. Claire has entered the numbers, putting 5 digits after the decimal. Now she wants to show only two digits after the decimal. The only way to achieve this goal is to manually delete the three unwanted digits of each number. a. True b. False

RIGHT b. False

Please refer to the following screenshot. Which action will select the four highlighted cells and no others? a. Hold down Shift, then click the four cells. b. Hold down Ctrl, then click the four cells. c. Hold down Alt, then click the four cells. d. There is no way to select only the four cells.

RIGHT b. Hold down Ctrl, then click the four cells.

Please refer to the following screenshot. Which statement concerning this worksheet is true? a. Rows 3 through 5 have been deleted. b. Rows 3 through 5 have been hidden. c. Rows 3 through 5 are locked because another program is accessing their data. d. Rows 3 through 5 are locked because the spreadsheet is protected by a password.

RIGHT b. Rows 3 through 5 have been hidden.

Refer to the screenshot below. If you want to calculate the total sales of a store in the whole year, which function should you use? a. COUNT b. SUM c. STD d. ADD

RIGHT b. SUM

What is the number format of the date 1/10/1900 in Excel? Note that date is in MM/DD/YYYY format. a. 01101900 b. 19000110 c. 10 d. 1

RIGHT c. 10

Please refer to the following screenshot. We need to identify the months and the years of the dates in column A. What function should be used in cell B2? a. =Date(Month(A2)) b. =Date(Month,A2) c. =Month(A2) d. =Month(A2,M)

RIGHT c. =Month(A2)

John is buying a house for a price of $500,000. He is making a 20% down payment with cash, and paying the balance with a mortgage. The mortgage is a 30-year loan with monthly payments, and the annual interest rate is 6%. Which of the following functions will calculate the correct monthly payment? a. =PMT(6%,30,500000) b. =PMT(6%/12,30*12,500000) c. =PMT(6%/12,30*12,500000*80%) d. =PMT(6%/12,30,500000*80%)

RIGHT c. =PMT(6%/12,30*12,500000*80%)

See the screenshot below. Which of the following functions would calculate Tom's total earnings? a. =SUMIF(Earnings,Name,"Tom") b. =SUMIF(Name,Earnings,Tom) c. =SUMIF(Name,"Tom",Earnings) d. =SUMIF(NAME,Earnings,Tom)

RIGHT c. =SUMIF(Name,"Tom",Earnings)

Please refer to the following screenshot. What range in the data should be selected to create the chart? a. B1:E1 and A1:A10 b. A1:E11 c. B7:E10 d. B2:E5

RIGHT c. B7:E10

Nancy is creating a spreadsheet to document her sales every day. She is including a chart of her sales to visualize the numbers. What does Nancy need to do in Excel to ensure that, when new sales data is entered into the spreadsheet, the chart will automatically update to include the new sales data? a. Insert a line chart after selecting the data, then create a table with "Crtl + T." b. Insert a line chart after selecting the data, then create a table with "Crtl + S." c. Create a table with "Crtl + T," then insert a line chart when selecting the table. d. Create a table with "Crtl + S," then insert a line chart when selecting the table.

RIGHT c. Create a table with "Crtl + T," then insert a line chart when selecting the table.

Which of the following is the correct description of the hotkeys? a. Alt-Page Up: Scrolls right one screen; Alt-Page Down: Scrolls left one screen. b. Alt-Page Up: Selects the previous worksheet; Alt-Page Down: Selects the next worksheet. c. Ctrl-Page Up: Selects the previous worksheet; Ctrl-Page Down: Selects the next worksheet. d. Ctrl-Page Up: Scrolls right one screen; Ctrl-Page Down: Scrolls left one screen.

RIGHT c. Ctrl-Page Up: Selects the previous worksheet; Ctrl-Page Down: Selects the next worksheet.

Please download the file pretest.xlsx. For the data in the worksheet Bakery, if we want to show the transactions with dollar value between $100 and $200 by Zack in the Eaton location only, which set of the following steps is most efficient? a. Manually find and delete all other transactions. b. Sort data by salesperson, location, and dollar value, then delete the transactions that do not satisfy the criteria. c. In the Data tab, click the "Filter" button. Then keep Zack in the pulldown menu of Salespersons and Eaton in the pulldown menu of location. In the pulldown menu of Dollars, use the between in Number Filter. d. Use the "if" function to hide the transactions that do not satisfy the criteria.

RIGHT c. In the Data tab, click the "Filter" button. Then keep Zack in the pulldown menu of Salespersons and Eaton in the pulldown menu of location. In the pulldown menu of Dollars, use the between in Number Filter.

Please refer to the following screenshot. How could you enter the array shown in the screenshot? a. The only way is to type them in one by one. b. Type in 0, click the cell with zero (A1 in this case), then drag the small square at the lower left corner of the cell to cell V1. c. Type in 0 and 5 in cell A1 and B1, respectively. Click to choose both A1 and B1. Then drag the small square at the lower-left corner of the cell B1 to cell V1. d. Type in 0 and 5 in cell A1 and B1, respectively. Click to choose both A1 and B1. Then drag the small square at the lower-left corner of the cell B1 to cell V1 while holding down Ctrl.

RIGHT c. Type in 0 and 5 in cell A1 and B1, respectively. Click to choose both A1 and B1. Then drag the small square at the lower-left corner of the cell B1 to cell V1.

You wish to go to a specific cell (e.g., cell W1234). Which of the following statements concerning doing this is correct? a. The only way to do this is to use the arrow keys. b. You have to use the scroll bars to move around the worksheet. c. You can use F5 to bring up the Go To dialog box. d. You cannot use the name box to enter the cell name.

RIGHT c. You can use F5 to bring up the Go To dialog box.

Please refer to the following screenshot. If the user clicks the small green square at the lower right corner of cell C1 and drags it to cell C7, what number will be displayed in C3? a. 8 b. 18 c. 20 d. 45

RIGHT d. 45

RIGHT d. =SUMIF(Salesperson,"Jane",Dollars)

Please refer to the following screenshot. What happens when you click "Insert"? a. A row will be inserted above row 4. b. A row will be inserted below row 4. c. Four rows will be inserted above row 4. d. Excel will ask you how to shift the cells, rows, or columns.

RIGHT d. Excel will ask you how to shift the cells, rows, or columns.

Orange Inc. is planning for a new product, the sales of which can be significantly affected by economic conditions. Kate is in charge of using spreadsheet modeling to evaluate this plan. Some of the factors that Kate is considering are production costs, price, economic conditions, and total profit. Which of the factors are inputs, and which of the factors are outputs? a. Input: production costs, price; Output: economic conditions, total profit. b. Input: production costs; Output: economic conditions, total profit, price. c. Input: production costs, economic conditions, total profit; Output: price. d. Input: production costs, economic conditions, price; Output: total profit.

RIGHT d. Input: production costs, economic conditions, price; Output: total profit.

To vary two inputs or decision variables and see how the changes in these quantities change a single output, what kind of table can we use? a. Pivot Table b. One-way Table c. Summary Table d. Two-way Table

RIGHT d. Two-way Table

To move from cell A1 to the last cell in the data range and then move back to cell A1, which of the following is the easiest way? a. Use the scroll bars to move back and forth. b. Use Page Down, and left and right buttons on the keyboard to move around. c. Use Shift+Home and Shift+End. d. Use Ctrl+Home and Ctrl+End.

RIGHT d. Use Ctrl+Home and Ctrl+End.

Please download the file pretest.xlsx. In the worksheet Bakery, each row gives the following data for a sales transaction: Transaction Number, Salesperson, Date of Sale, Product, Units Sold, Revenue Generated and Location. We have named the data in column B Salesperson, the data in column C Date, and so on. For the data in the worksheet Bakery, what function would compute total revenue generated by cake sales in the Weston location? a. =SUMIF(Dollars,Location,"Weston",Product,"cake") b. =SUMIF(Dollars,Location,Weston,Product,cake) c. =SUMIFS(Dollars,Location,"Weston",Product,"cake") d. =SUMIFS(Location,"Weston",Product,"cake",Dollars)

WRONG a. =SUMIF(Dollars,Location,"Weston",Product,"cake")

Refer to the screenshot below. If you want to calculate the total sales for each store in the whole year and the total sales in each quarter of the year, then instead of copying and pasting the function into each cell, what button can you click in Excel to make this easier? a. Fill b. Format Painter c. Autosum d. Filter

WRONG a. Fill

Assume the cost of a cake is $10 times the area of its top surface. Which of the following formulas can correctly calculate the cost of a cake with a 3-inch diameter? a. PI*(3/2)^2*10 b. PI*3^2*10 c. PI()*3/2^2*10 d. PI()*(3/2)^2*10

WRONG a. PI*(3/2)^2*10

Which of the following statements is false? a. To enter a series of Social Security numbers into a spreadsheet, one can enter the numbers without entering the "-" first. Then you can convert the numbers into the "xxx-xx-xxxx" form with the format function in Excel. b. The format function in Excel can convert the decimal format into fraction format. c. The format function in Excel can convert large numbers into scientific format. d. The format function in Excel can automatically convert dollar values into other currencies.

WRONG a. To enter a series of Social Security numbers into a spreadsheet, one can enter the numbers without entering the "-" first. Then you can convert the numbers into the "xxx-xx-xxxx" form with the format function in Excel.

Please refer to the following screenshot. Todd accidentally booked his company's European subsidiary sales in US Dollars, while the numbers are actually in Euro. To fix the problem, Todd can directly change the format to Euro, because Excel will perform the currency conversion using the latest exchange rates from MSN Money. a. True b. False

WRONG a. True

Please refer to the following screenshot. The prices of the goods in Column A that are higher than the average price for all products are highlighted in red in the table. How do you achieve this without first calculating the average? a. in "Conditional Formatting," choose "Highlight Cells Rules," then choose "Greater Than," and enter "=AVERAGE(B2:B7)" as the reference b. in "Conditional Formatting," choose "Highlight Cells Rules," then choose "Greater Than," and enter "=MEAN(B2:B7)" as the reference c. in "Conditional Formatting," choose "Top/Bottom Rules," then choose "Greater Than," and enter "=AVERAGE(B2:B7)" as the reference d. in "Conditional Formatting," choose "Top/Bottom Rules," then choose "Above Average"

WRONG a. in "Conditional Formatting," choose "Highlight Cells Rules," then choose "Greater Than," and enter "=AVERAGE(B2:B7)" as the reference

Nancy was assigned the task of preparing pro-forma financial statements to value a potential acquisition. She used two different growth rates, 1.0% and 1.2%, in different cells of the spreadsheet to forecast line items such as sales, cost of goods sold, depreciation, etc. One year later she needs to value another acquisition target. She wants to re-use the original spreadsheet, but she can't remember which growth rates related to which line items. Which of the following functions will give her that information? a. "Connections" in "DATA" tab b. "Trace Precedents" in "FORMULAS" tab c. "Trace Dependents" in "FORMULAS" tab d. "Illustrations" in "INSERT" tab

WRONG b. "Trace Precedents" in "FORMULAS" tab

Please refer to the following screenshot. Given the list of students' names (first name and last name) and their ID numbers, we want to separate them into three columns: First Name, Last Name, and ID. Which pair of functions can extract the first name of the first student? a. =FIND(" ",A2) in Cell B2, then =RIGHT(A2,B2-1) in Cell C2 b. =FIND(" ",A2,1) in Cell B2, then =RIGHT(A2,B2-1) in Cell C2 c. =FIND(" ",A2,1) in Cell B2, then =LEFT(A2,B2-1) in Cell C2 d. =FIND(" ",A2) in Cell B2, then =LEFT(A2,B2-1) in Cell C2

WRONG b. =FIND(" ",A2,1) in Cell B2, then =RIGHT(A2,B2-1) in Cell C2

Refer to the screenshot below. Assume Verd Farm uses the price table in the screenshot when selling meat to supermarkets. What function can we use to look up the price of a transaction with 1500 pounds of meat? a. =ILOOKUP(A10,B2:B6,2) b. =ILOOKUP(A10,A2:B6,2) c. =VLOOKUP(A10,B2:B6,2) d. =VLOOKUP(A10,A2:B6,2)

WRONG b. =ILOOKUP(A10,A2:B6,2)

Please refer to the following screenshot. Given the list of students' names (first name and last name) and their ID numbers, we want to separate them into three columns: First Name, Last Name, and ID. Which of the following functions can extract the last name of the first student? a. =MID(M2,FIND(" ",M2,1),FIND(" ",M2,1)) b. =MID(M2,FIND(" ",M2,1),FIND(" ",M2,FIND(" ",M2,1))-FIND(" ",M2,1)) c. =MID(M2,FIND(" ",M2,1),FIND(" ",M2,FIND(" ",M2,1)+1)) d. =MID(M2,FIND(" ",M2,1),FIND(" ",M2,FIND(" ",M2,1)+1)-FIND(" ",M2,1))

WRONG b. =MID(M2,FIND(" ",M2,1),FIND(" ",M2,FIND(" ",M2,1))-FIND(" ",M2,1))

If we need to frequently change more than three values of a model to see how the outputs change, what is the most efficient way? a. Delete the original values and enter the new values. b. Create multiple two-way tables for different combinations of input variables. c. Put spinner buttons in the cells for the input variables. d. Use the toggle function in Excel.

WRONG b. Create multiple two-way tables for different combinations of input variables.

Please refer to the following screenshot. In Column A, the largest three numbers are highlighted in yellow. In Column B, the duplicate numbers are highlighted in blue. What function in Excel can automate this? a. Data tab → Data Analysis b. Data tab → Formatting c. Home tab → Conditional Formatting d. Home tab → Table Formatting

WRONG b. Data tab → Formatting

The number format of 8:36:00 AM is 0.36 in Excel. What is the meaning of the 0.36? a. It is 36 minutes after 8 o'clock. b. It is 36 minutes after the reference time. c. It is 0.36% of a day from the reference time. d. It is 36% of the way between midnight and the start of the next day.

WRONG b. It is 36 minutes after the reference time.

Please download the file pretest.xlsx. In the worksheet Bakery, each row gives the following data for a sales transaction: Transaction Number, Salesperson, Date of Sale, Product, Units Sold, Revenue Generated, and Location of Sale. We have named the data in column B as Salesperson, the data in column C as Date, and so on. In order to determine the total revenue from each salesperson, you need to set up a pivot table. Each row of the table should be the breakdown of the dollar amounts that a given salesperson sells of each product. Which field would you place in the Rows, Columns, and Values zones in the Areas Section of the Pivot Table? a. Rows: Salesperson; Columns: Product; Values: Dollars b. Rows: Salesperson; Columns: Product; Values: Units c. Rows: Dollars; Columns: Product; Values: Salesperson d. Rows: Product; Columns: Salesperson; Values: Units

WRONG c. Rows: Dollars; Columns: Product; Values: Salesperson

Nancy just bought an annuity that will provide her with 20 annual payments over the next 20 years. The payments are made at the beginning of the year. The first payment is made today, and the second payment will be made a year from now. The first 10 payments are for $10,000 each, and the remaining 10 payments are for $20,000 each. If the discount rate is 5%, what is the present value of this annuity? a. $172,027 b. $180,628 c. $300,000 d. $315,000

WRONG d. $315,000

The table in the following screenshot shows the gas price on the first day of each month. Assume the gas price stays the same for a whole month after the change on the first day. What function will find the price for a specific date? a. =VLOOKUP(A5,B1:E2) b. =VLOOKUP(A5,B1:E2,2) c. =HLOOKUP(A5,B1:E2,2) d. =HLOOKUP(A5,B1:E2,1)

WRONG d. =HLOOKUP(A5,B1:E2,1)

Because of an oversight, the "number of units" column (B2:B100) of a spreadsheet is filled with numbers, product names, and blanks. Which of the following functions can identify the number of cells in the range B2:B100 that are filled with numbers? a. =COUNT(B2:B100) b. =COUNTA(B2:B100) c. =VALUE(B2:B100) d. =ISNUMBER(B2:B100)

WRONG d. =ISNUMBER(B2:B100)

Which of the following statements regarding the Undo button is correct? a. The Undo button can only undo the most recent adjustment of the active worksheet. b. The Undo button can undo as many adjustments as you want, including those made before the worksheet was last saved. c. Ctrl+Z is the hotkey for the Undo button. d. Ctrl+Z can bring up the drop-down list from the Undo button.

WRONG d. Ctrl+Z can bring up the drop-down list from the Undo button.

Please download the file pretest.xlsx. Let's consider the data in the worksheet "Bakery." The manager wants to calculate the total sales for every combination of salesperson, product, and location. First, she needs to find every unique combination of salesperson, product, and location in the data. Which of the following tools on the ribbon can help her to accomplish it? a. Text to Columns b. Remove Duplicates c. Data Validation d. Data Consolidate

WRONG d. Data Consolidate

Please refer to the following screenshot. Tim is interested in taking a loan for a home improvement project. He is setting the amount and the time period of the loan so that the monthly payment is less than $2000. To see the payment amounts with different options, Tim set up a two-way table as shown in the screenshot. After entering the correct expression in D1, what should Tim do to generate the two-way table? a. Select D1:J11, then click the "What-if Analysis" button in the Data tab. b. Select D1:J11, then click the "Two-way" button in the Data tab. c. Select D1:J11, then click the "Table" button in the Insert tab. d. Select D1:J11, then click the "Two-way Table" button in the Insert tab.

WRONG d. Select D1:J11, then click the "Two-way Table" button in the Insert tab.

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