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Exam 8: Using Data Tables and Excel Scenarios for What If Analysis

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Question 71

Multiple Choice

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The VLOOKUP function compares a lookup value to the first column of a lookup table, and returns the corresponding value in ____ column of the lookup table.

A) a designated
B) the first
C) the second
D) the last

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Question 72

Multiple Choice

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Case 8-2 Gabriel created the table above to help him organize financial information on the projected results of increased marketing campaigns for the swimsuit line. A change in marketing expense will change the number of units sold. Please refer to the table above when answering the questions below. -Gabriel decides that he needs to delete one of his scenarios. How does he open the Scenario Manager in order to delete the desired scenario in the Scenarios box?

A) Click the What-If Analysis button in the Data Tools group on the SCENARIOS tab on the ribbon.
B) Click the Manage Scenarios button in the Data Tools group on the DATA tab on the ribbon.
C) Click the What-If Analysis button in the Data Tools group on the DATA tab on the ribbon.
D) Click the Analysis button in the Manage Scenarios group on the DATA tab on the ribbon.

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Question 73

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Cells that contain formulas should be specified as changing cells in scenarios.

Although data tables and scenarios are ideal for showing the results of the interaction of a number of variables, analyzing which results are more likely than others depends on your knowledge of your business and markets.

As with one-variable data tables, you must specify how a two-variable data table is structured and which cells in the worksheet's input section relate to the table's ____.

Scenario names can contain up to 255 characters, including spaces. However, only the first ____ characters of the scenario name appear in the Scenario Manager list.

Case 8-1 Beckham created the worksheets above to show the profitability and break-even points for his company. Please refer to the figure above as you answer the questions below. -Beckham's boss has asked him to be more precise about how many units the company will need to sell to break even. What can Beckham do to get this information?

Creating the structure for a data table involves creating the set of input values you want to use in a what-if analysis and indicating the results you want to see in the target table. _________________________

Before printing a scenario report, you indicate which ____ cells are of interest to you.

After you create a scenario, you can use the Scenario Manager ____ to change its values to extend your what-if analysis.

You use the ____ to add a scenario.

A ____ is running a what-if analysis on realistic but not actual data.

To make the scenario summary easy to interpret and distribute, Excel ____.

The ____ function generates a random number between 0 and 1.

You use a ____ when you want to ask a what-if question involving a range of values.

In a two-variable data table, you use two sets of values for two input variables, and display only the value of a single result cell.

Identify the letter of the choice that best matches the word or phrase with its definition. -A multiple-output formula that shows the results that come from one set of input values

At its most basic level, what-now analysis involves asking a question about a worksheet, such as: "What if the revenue of the swimwear product line increased by $10,000 per month?" _________________________

Creating a data table in Excel involves the very important step(s) of ____.

You use a(n) one-variable data table to determine how two values affect a single result. _________________________