D100 - Open-ended Questions

What does the pivot table do?

Allows you to extract the significants from a large data set

What type of function should be used to compute the present value of a recent investment?

financial function

The _______ of a worksheet shows the actual formulas you have entered rather than the resulting values.

formulas version

Control + shift +down arrow, does what?

highlights the entire column

The cost of borrowing money, quoted as an annual percentage rate (APR), is a loan's __________.

interest

You created a spreadsheet in Calc and wish to add chart elements. You know they are located in the Insert menu, but when you click on the menu the options to add elements are not appearing. This is because you have not:

selected the chart

What is the purpose/use of spreadsheets in forecasting?

• performs sophisticated statistical forecasting on data • allows use of past information to predict future

In an Excel file, if a label (such as the word "panda") is used in a formula, what will appear in the cell when the Enter key is pressed?

#VALUE!

Put the steps in order for converting an iCloud Numbers file to an Excel file.

1. click tools button 2. select download a copy and choose a format 3. name the file 4. save the file

Place the following steps in order to create a VLookup.

1. select the name and range of cell for the vlookup to search 2. click the insert function button 3. search for and select the vlookup button 4. enter the necessary arguments 5. click OK

Because interest rates are advertised as annual percentage rates (APRs), when using the PMT function to determine a monthly payment it is necessary to divide the rate by:

12

Select the spreadsheet formula that would correctly calculate the average (mean) of the following values: 3, 2, 6, and 8.

= (3 + 2 + 6 + 8) / 4

You are working with spreadsheet data about a cross-country relay race. Each runner's times are located in cells H2 through H28. To find the runner with the slowest time, what is the correct function?

=MAX(H2:H28)

What kind of calculation contains an error caused by poor logic?

A calculation that includes an inaccurate or incomplete

What kind of calculation contains an error caused by poor input?

A calculation that includes inaccurate or incomplete data

What function would you use to display how many entries are made in Column A above Cell A37?

COUNT

What automatically applies a formula used in one cell to the remaining cells in a column?

Calculated columns

Relative cell references

Cell references that automatically update when a formula is pasted to a new cell

Why should you not duplicate column headings?

Duplicate headings make it difficult to understand the data stored in the column.

Saving a spreadsheet allows you to keep your file for future use. One difference between Microsoft Excel, Google Sheets, Apple Numbers, and Open Office Calc is that ___ saves changes automatically.

Excel

You created a spreadsheet in Calc and wish to send the data to a friend who only uses Excel. You can do this by using the ___ feature.

Save As

What is the total row used for in an Excel table?

Summarize values in the table

Which principle of finance states that a dollar in your hand today is worth more than a dollar you will receive in the future because a dollar in hand today can be invested to turn into more money in the future?

TVM (time value of money)

You see ###### in a cell. This means that

This is not an error. The cell needs to be expanded in order to display the entire value.

Mixed references

When one part of the cell reference, either the column or the row, is fixed (absolute) and the other part is relative (changes based on proximity to other cells)

Advertised as an annual percentage rate (APR), the amount of money a lender charges for a loan is the loan's ________.

Your credit rating often influences the interest rate the lender will charge on a loan.

In excel, it is not possible to filter on ______column.

a reverse

To make a calculation always refer to a specific cell when copying it using the fill handle, make the cell a(n) ________ reference.

absolute

In spreadsheets, all functions and calculations begin with __________.

an equal sign (=)

If you wanted to make cell B2 show the sum of cells A2 and B1 you would first click on cell B2 and then enter:

an equals sign

Where can a macro button be created?

anywhere in the workbook

In the financial world, which color represents credits or profits?

black

In most spreadsheet programs the active cell is shown with a thick black border. In Google Sheets (as shown above), the active cell has a thin ______.

blue border

Data analysts can use _____ to highlight the area around cells in order to see spreadsheet data more clearly.

borders

The basic unit of any spreadsheet, essentially a box where data can be entered, is called a(n) _________.

cell

CSV stands for:

comma separated values

Column D shows the value of each sale for the day. If you want cell D37 to display the number of sales, you would use the ______.

count function

You made a simple spreadsheet for an online class assignment for a group project and want all group members to be able to open it regardless of what spreadsheet program they use. Which format would be the best to use?

csv

What is the keyboard shortcut to scroll to the bottom?

ctrl (down arrow)

Pivot tables provide a quick way to organize information. In most spreadsheet programs, click the ______.

data tab

The key F2 puts a cell into?

edit mode

When you enter a calculation into a spreadsheet, you start by entering a(n) ________ sign.

equal sign (=) It is the most important symbol in a spreadsheet. It indicates that the cell contains a formula or a function.

In financial institutions, the color red represents positive values. True/False

false

The CSV format saves the cell values and formulas. True/False

false

What does Alt+ = do?

figure the sum

If you wish to keep a column visible while you scroll through the rest of a spreadsheet file, you can use the ________ options.

freeze

The Rule of 72 states that dividing 72 by the interest rate approximates the time for the investment to double. This calculates the ________ of the investment.

future value (FV)

The total amount of money (principal + interest) that lender receives from a borrower at the end of the loan is referred to as the loan's ____________.

future value (FV)

To quickly display the highest number of boxes of cookies purchased by one buyer (column B), use the ______.

max function

Combining two or more cells together is called ________.

merging the cells

In the image, the 4-headed arrow on the edge of the cell allows the user to ______.

move the data

A scope of work is an agreed-upon _____ of the work you're going to perform on a project.

outline

When copy pasting a table, ctrl W will do what?

paste the table with keeping the source cell widths

Useful to showing parts of a whole, the ___ is created by highlighting the desired data and choosing from the Insert menu.

pie chart

What refers to the amount of money a lender charges for borrowing money (excluding any origination fees)?

principal

What is the purpose/use of spreadsheets in reporting?

produce dynamic reports that reflect real-time changes in data

Analogous colors ______.

provide little contrast

The Pivot Table automatically __________ with the addition or removal of fields of data.

reconfigures

When displaying financial information, the accepted practice is that ________ indicates negative values.

red

A common method to delete a column or row in most spreadsheet programs is to ________ on the column or row heading, and then select Delete from the menu.

right-click

Holding down the ___ allows users to select a range of adjoining cells.

shift

To keep proportions of a chart the same as you resize it, press and hold the ______ key as you drag one corner of the section corner.

shift

Because they make it easy to arrange, display, and calculate numerical data, ___ programs are often used in budgeting, accounting, finance, grading, gambling houses, and even sports analysis.

spreadsheet

Because they make it easy to arrange, display, and calculate numerical data, ________ programs are commonly used in nearly every business setting.

spreadsheet

Printing envelopes would not be a good use of ____.

spreadsheet applications

Computer programs that allow users to easily arrange, calculate, and present numerical data

spreadsheet programs

Programs such as Microsoft Excel, iWork's (Apple) Numbers, Google Sheets, and OpenOffice Calc, that allow users to arrange numerical data are called ____________.

spreadsheets

What is transposing a table?

switching the column and row headers

What does the NPER function calculate?

the number of periods for an investment based on periodic payments and a constant interest rate

What is the purpose/use of spreadsheets in human resources?

to create employee work schedules, it works effectively as a scheduler, even when there are a number of constraints on the scheduling process

What is the purpose/use of spreadsheets in shipping and logistics?

to determine best location for warehouses and shipping depots; it maximizes responsiveness to customers and minimizes overall costs

What is the purpose/use of spreadsheets in manufacturing?

to determine right product mix (so the company can maximize profits)

Chart Components

• Chart Elements • Chart Types • Axis Labels • Data Series and Ranges • Data Labels

Basic Elements of Excel Tables

• Column headings • Banded rows • Calculated columns • Total rows

Two Parts of Table Calculation

• Quantitative value • Algorithm

What are some strategies to ensure your data is accurate and fair?

• Collect the data in an objective way • Make sure you start with an accurate representation of the population in the sample • Think through the "who, what, where, when, how, and why" of your data

What are some common uses of Excel?

• Data Entry and Storage • Accounting and Budgeting • Data Analysis • Forecasting • Reporting

Five Uses for Pivot Tables

• Defines patterns in a data set • Optimizes source data • Reorganizes data in easy to interpret tabular forms • Classifies source data into groups • Performs calculations on source data within group

Within a spreadsheet, data analysts use which tools to save time and effort by automating commands?

• Functions • Formulas

What is the term for a preset command in a spreadsheet?

Function

Chart Elements

• Titles • Axes • Chart Area • Legends

Absolute cell reference

A cell reference that remains constant when a formula is pasted into a new cell; contains two "$".

If you do not see the Numbers icon on your iMac toolbar, you could go to the Launchpad to open the app. Alternatively, you could look for it through the ______.

Finder

To quickly show if the values in a column or row are greater than, less than, or equal to a certain value, use the ______.

IF function

Pivot tables provide a quick way to organize information. In most spreadsheet programs, click the ________ tab to create a pivot table.

insert

What is the purpose/use of spreadsheets in cybersecurity?

to mitigate cybersecurity attacks, it can both examine data to identify vulnerabilities and visually monitor these vulnerabilities in real-time

What is the purpose/use of spreadsheets in healthcare?

to monitor and manage indicators for improving patient outcome

What is the purpose/use of spreadsheets in marketing?

to understand market trends and customer preferences, it can assists managers in meeting customer needs and expectations

Comma-separated format (.cvs) files are commonly used by those who are sending data but do not know what spreadsheet the recipient uses. True/False.

true

What is the purpose/use of spreadsheets in accounting and budgeting?

used to build and manage corporate and personal budgets

What is the purpose/use of spreadsheets in data analysis?

used to organize, summarize, and analyze data

In Excel and Sheets the freeze cells or panes option is located in the ________.

view menu

3 Reasons for Formulas

• Provides consistent results that handle changing conditions • Provides help to automate data manipulation processes • Allows you to create reusable worksheet templates for repeat calculations

What are the key elements of structured thinking?

• Recognizing the current problem or situation • Organizing available information • Revealing gaps and opportunities in order to identify the options

Data analysts use what functions to quickly perform calculations in a spreadsheet?

• SUM • AVERAGE • MIN

Table Purposes

• Store and organize data in Excel • Can use sorting and filtering to reorganize data • Formatting themes applied to make table visually appealing and easy to read

How to fill in a column of numbers 1-10 with Fill function:

• Type 1 in A1, 2 in A2 • Highlight A1-A10, • Select Fill, Series, Autofill, OK

The four basic functions of a computer are to:

• accept data input • process data into information • present output • provide storage

What is the purpose/use of spreadsheets in data entry and storage?

• helps keep track of and organize important information • provides immediate access to real-time data (files stored on cloud)

The steps of the information processing cycle:

• input • process • output • store