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Excel Ch 02

Formulas and Functions

QuestionAnswer
A formula in Excel must begin with: an Equals (=) sign
A relative cell reference: indicates a cell's relative location from the cell containing the formula; the reference changes when you copy the formula.
A circular reference: occurs when a formula directly or indirectly refers to the cell containing the formula.
Excel displays a green arrow in the top left corner of a cell if it detects a: potential error.
A function is a: redefined formula that performs a calculation.
An argument (as it applies to Excel 2010): is an input such as a cell reference or a value needed to complete a function.
The SUM function: calculates the total of values contained in two or more cells.
For a BASIC/SIMPLE mathematical expression it is best to use: Formulas, such as =B4+C4.
The AVERAGE function: calculates the arithmetic mean or average of values in a range.
The MIN function: displays the lowest value in a range.
The COUNT function: tallies the number of cells in a range that contain values.
The COUNTA function: tallies the number of cells in a range that are not empty.
The MAX function: identifies the highest value in a range.
The TODAY function displays the current date (not time). True
The NOW function evaluates a condition and returns one value if the condition is true and a different value if the condition is false. False
The IF function evaluates a condition and returns one value if the condition is true and a different value if the condition is false. True
A nested function is the lowest value for a specific category or series in a lookup. False
A lookup table contains data for the basis of the lookup and the data to be retrieved. True
The breakpoint is a reference to a cell containing a value to look up. True
The VLOOKUP function looks up a value and returns a related result from a column in the lookup table. True
The column index number is the periodic interest rate, such as a monthly interest rate. True
The PMT function is the total number of payment periods. False
The NPER is the total number of payment periods. True
A range name indicates a cells relative location from the cell containing the formula. False
To simplify entering ranges in formulas, you can use range names. True
D15 contains the formula =$C$5*D15, what is the D15 in the formula Circular reference
What function would most appropriately accomplish the same thing as =(B5+C5+D5+E5+F5)/5 =averarage(B5:F5)
When you type a function, what appears after you type the opening parenthesis Function Screen Tip
A formula containing the entry =-$B3 is copied to a cell one column to the right and two row down. How will the entry appear in the new location =$B5
Cell B10 contains a date, such 1/1/2012. Which formula will determine how many days are between that date and the the current date, given that the cell containing the formula is the formatted with Number Format +TODAY()-B10
Given that cellsA1, A2 andA3contain values 2, 2 and 10respectively, and B6, C6, and D6contain values 10, 20, and 30, respectively, what value will be returns by the function =IF(B6.A3, C6*A1, D6*A2)? 90
Given the function+VLOOKUP(C6,D12:F18,3), the entries in: Range D12:D18 are in ascending order
The function =PMT(C5,C7,-C3)is stored in cell c15. What must be stores in cell c7? Number of payment periods
Which of the following is not an appropriate use of the SUM function? =SUM(D15-C15)
Which of the following is not an acceptable range name? Goal for 2012
Created by: tstaton
 

 



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