QBA Exam 1
All stores in the states/MEAN
=AVERAGE(X:#:X#)
Range formula
=MAX(X:#:X#)-MIN(X#:X#)
Total number/ SUM
=SUM(X#:X#)
Keeping column and/or row heading always in view while the spreadsheet is scrolled is known as: A)Freeze Panes B)Locked scroll C)Steady view D)Write protected
A)Freeze panes
1. Suppose you were helping Royal Kona management evaluate the answers provided above (your answers to Q16-Q19). Inspect the spreadsheet carefully, paying attention to the row numbers related to fixed and variable costs. Based on what you see, which answers to the four (4) questions above might be wrong? Give a reason for each of the questions you chose, and for each answer that might be wrong, state whether the correct answer should be lower or higher than the answer you provided above.
After analyzing the spreadsheet above, I noticed that rows 4 and 5 are currently hidden. With these two rows hidden, we are not given all of the information about the fixed cost's for the Royal Kona. This leads me to believe that my answer to question 16 is going to be wrong because it doesn't have all of the information for fixed cost's I need. Since 16 was wrong, I believe that 19 is also wrong. I believe this because it has the sum of fixed cost's in the formula and since it didn't have all of the information in 16, it wouldn't have all of the information in 19 than either, thus leading the total profit for two years to ultimately be less.
1. After you have collected the data but before you try any of the different forecasting methods, what first-step should you take with the data to help you reduce the number of methods you might try?
After the data is collected, but before you try any of the different forecasting methods, the first step you should be taking to reduce the number of methods you might try should be graphing the data to see the trends that might be occurring. After we initially graph it, we can then use smoothing or regression-based forecasting. I recommend this this because the numbers are constantly increasing along with the periods.
By default, numbers in Excel are: A)Left justified B)Center justified C) Full justified D) Right justified
D) Right justified
An Excel formula includes the term $A$4. Which of the following is true: A)The row and the column are relative refrenced. B)The row is absolute referenced; the column is relative referenced. C)The column is absolute referenced; the row is relative referenced. D)The row and column are referenced.
D) The row and column are absolute referenced.
standard deviation
How close or far away from the mean it is; =STDEV.S or =STDEV.P
What formula for Absolute Error would you enter in cell D3 that could then be copied down into cells D4:D7?
The formula to generate an absolute error we would enter into cell D3 would be =ABS(B3-C3). This formula will calculate the absolute error between the demand and forecast. With this formula, we are taking the demand minus the forecast which gives us the difference.
If generating a Naïve forecast, what formula would you enter into cell C3 that could then be copied down into cells C4:C7?
The formula we would enter into cell C3 that could be copied down into cells C4:C7 would be =B2. You first are going to be looking at the demand we are given for the previous period. You want to do this because you are assuming the demand will be the same or similar to the period before.
If generating a Moving Average forecast using the most recent three (3) prior periods of actual demand, what formula would you enter into cell C5 that could then be copied down into cells C6:C7?
The formula we would enter into cell C5 that could then be copied down to C6:C7 would be =AVERAGE(B2:B4). This will average only the demand for the previous 3 periods which makes it a moving demand.
If generating a Regression forecast (=Constant + Coefficient x Current Period), what formula would you enter into cell C3 that could then be copied down into cells C4:C7?
To generate a regression forecast, the formula we would enter into C3 would be =B$9+B$10*A3. This formula requires a 2 $ because we have to have the absolute reference for the row so we can keep the values for the constant and coefficient the same.
