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(Excel) Module TEN

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
        Help!  

Question
Answer
show revenue equals expenses.  
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show False  
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show False  
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show What-If Analysis button e  
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5. You should always clearly label the row or column containing the input and result values.   show
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show False  
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7. When you create a one-variable data table, you select the range that contains the data table, making sure to include the column headings.   show
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show false  
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9.Two-variable data tables are often used to explore the impact of changing two values on a single result.   show
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10. Changing cells can be located anywhere in the worksheet.   show
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show false  
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show true  
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13. It is possible for Solver to be installed but not activated on your computer.   show
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show true  
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15. That an order must meet store demand, or that it cannot exceed the available parts, are examples of constraints.   show
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16. References, or limits, in Solver are important because they ensure a realistic solution to your problem.   show
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show true  
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18.A limits report is best utilized when your problem contains integer constraints.   show
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19. Fixed expenses change in proportion to the company’s sales volume.   show
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20. CVP analysis is sometimes called breakthrough analysis.   show
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21. In traditional what-if analysis, you change result values in worksheet cells.   show
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show false  
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23. An array argument performs multiple calculations on one or more sets of values and then returns either a single value or multiple values.   show
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24. You can view a scenario by clicking its name in the Scenarios box in the Scenario Manager dialog box.   show
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25. When measuring elasticity, when e<1, the price elasticity of demand is perfectly inelastic.   show
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26. When measuring elasticity, if e=1, then the elasticity is referred to as unit elastic because any change in price is met by an equal and opposite change in demand.   show
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show false  
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28. A(n) optimal cell is a cell that Excel changes to produce the desired result in the target cell.   show
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29. The default convergence value is 0.001, which means that if the change in the target cell between one solution and the next is less than or equal to 0.001, Solver will consider that it has converged to the solution.   show
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show false  
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show false  
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show true  
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33. ____ analysis is an important business decision-making tool because it predicts the effect of cutting overhead or raising prices on net income.   show
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show cvp  
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35. Which of the following expense types can be used in a CVP analysis? ____   show
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36. A business must pay insurance and rent.these are examples of ____ expenses.   show
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show Variable, fixed and mixed  
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show What-if  
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show Result  
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40. With Goal Seek, Excel changes the ____ values to produce the result values you are looking for.   show
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41. If you orient a one-variable table so that the input values are in the first row, you would use the ____ input cell option.   show
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show upper-left  
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43. {=SUM(B1:B10*C1:C10)} is an example of a(n) ____.   show
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show curly braces  
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show trend, minverse, mmult  
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46. To calculate multiple cells values, select the range and type the array formula, then press the ____ keys to enter the formula.   show
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47. ____ are a powerful feature of Excel. If used properly, they help you perform complex calculations within a single formula and extend a single formula over a range of cells.   show
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show names  
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49. To perform a what-if analysis with more than two input cells, you ____.   show
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50. To select nonadjacent changing cells, press and hold the ____ key as you click each cell.   show
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51. You can switch from one scenario to another by clicking the ____ button in the Scenario Manager dialog box.   show
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show summary report  
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53. A scenario summary report’s ____ layout makes it simpler to compare the results of each scenario, and the automatic formatting makes it useful for reports and meetings.   show
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54. Elasticity measures how changing prices can affect the ____ a good or service.   show
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55. When change in price has no impact on demand, the situation is referred to as ____.   show
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56. You can use the Load/Save button in the Solver ____ dialog box to save the Solver model to the current worksheet.   show
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57. In measuring elasticity, if e=0.1, then increasing the price of an item by 10% decreases demand by ____.   show
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58. In measuring elasticity, if e=0, then changes in price have no impact on demand, which is referred to as a ____ situation and occurs when the item being sold is rare or essential.   show
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show 10%  
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60. In measuring elasticity, as the value of e increases, the result is that any change in price causes a huge change in demand, resulting in a ____ relationship between price and demand.   show
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61. ____ is a program that searches for the optimal solution of a problem involving several variables.   show
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show solver  
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63. The three items that you must specify when using Solver are ____.   show
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64. In Solver, changing cells are sometimes referred to as ____ cells.   show
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show constraints  
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66. Aside from Solver, other Excel ____ provide the ability to perform statistical analyses, generate business reports, and retrieve financial data from the Internet.   show
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show add-in dialog box  
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show analysis  
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69. A(n) ____ is a limit that is placed on a Solver problem's solution.   show
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70. ____ are important because they ensure a realistic solution to your problem.   show
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show status bar  
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show solver results  
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show iterative  
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74. A(n) ____ procedure means that Solver starts with an initial solution and uses that as a basis to calculate a series of solutions.   show
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show esc  
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show show iteration results  
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77. The default length of time that Solver will spend on the iterative process is ____ seconds.   show
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78. The default convergence value in Solver is ____.   show
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show 100  
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80. You can include an analysis of the constraints and conditions by which Solver arrived at its solution by creating a(n) ____ report.   show
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81. Solver can create what three different report types?   show
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82. The ____ report summarizes the results of a successful solution by displaying information about the target cell, changing cells, and constraints.   show
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show limit, constraint  
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show answer  
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show limits  
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86. The answer report is divided into ____ sections.   show
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87. The last column on the right in an answer report shows the ____ for each constraint.   show
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88. The slack is the difference between the value in the cell and the value at the limit of the ____.   show
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89. Binding constraints always show a slack of ____.   show
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90. Cells that display the value ____ indicate that all of the values in the worksheet satisfy the Solver constraints.   show
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show false  
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92. Scenario summary tables and scenario ____ can be used to obtain a quick snapshot of several possible outcomes.   show
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show result  
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show variable  
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show fixed  
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show goal seek  
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show result  
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show input  
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show data  
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show two-variable  
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101. The ____________________ input cell is the cell on which you base values placed in the first row of the data table.   show
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show column  
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show outline  
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104. Click the Scenario PivotTable ____________________ option button to create a PivotTable describing the scenarios.   show
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show add-ins  
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106. In Solver, a(n) ____________________ cell is a cell that you want to maximize, minimize, or change to a specific value.   show
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show input  
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108. The ____________________ is the difference between the value in a cell and the value at the limit of the constraint.   show
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109. ____________________ constraints always show a slack of 0.   show
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show price elasticity  
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111. When elasticity is e>1, the price elasticity is ____________________ elastic.   show
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show Goal Seek uses a different approach from traditional what-if analysis, when you change input values in worksheet cells, and Excel uses these values to calculate result values. With Goal Seek, you specify the result values you want, and Excel changes the i  
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show Insert a formula that references the input cell in the upper-left cell of the table. Insert input values in either the first row or first column of the table. For input values in the first row, insert formulas referencing result cells in the table’s first  
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114. How many different types of reports can Solver create? What are the characteristics of these report types, and which is the most useful?   show
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