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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.
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Question
Answer
1. At the break-even point, ____________.   show
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show False  
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3. As in traditional what-if analysis, Goal Seek starts with the end result and determines what value you should use to reach a desired answer.   show
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show What-If Analysis button e  
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show true  
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show False  
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show False  
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show false  
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show true  
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show true  
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show false  
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12. Solver is an add-in, a program that adds customized commands and features to Microsoft Office programs such as Excel.   show
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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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22. The output cell is the cell containing the values you want to examine.   show
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show false  
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show false  
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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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27. Goal Seek is a program that searches for the optimal solution of a problem involving several variables.   show
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show false  
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show true  
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30. If Solver is taking too long to find a solution, you can halt the program at any time by pressing the Ctrl key.   show
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31. Not binding constraints always show a slack of 0.   show
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32. A(n) mixed expense is an expense that is part variable and part fixed.   show
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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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show input  
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show row  
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42. In two-variable tables, you must always place a reference to the result cell in the ____ corner of the table at the intersection of the row values and the column values.   show
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43. {=SUM(B1:B10*C1:C10)} is an example of a(n) ____.   show
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44. Once you enter an array formula, Excel will enclose the formula in a set of ____.   show
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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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show array functions  
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48. Before using Scenario Manager, you should assign ____ to all the input and result cells you intend to use in your scenarios.   show
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show create scenarios  
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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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52. A scenario ____ lists the value for changing cells and results cells under each scenario.   show
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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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show demand for  
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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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show parameters  
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show 1%  
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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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show perfectly elastic  
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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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62. ____ can be used to find the curve or line that best fits a set of data or to minimize production costs for a product or service.   show
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show variable cell, objective cell, constraints  
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show variable  
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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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67. To activate Solver, click Solver Add-In in the __   show
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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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72. After trying out solutions for a short time, Solver displays the ____ dialog box, which displays the message that indicates Solver has found a solution that satisfies the constraints.   show
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73. Solver arrives at optimal solutions through a(n) ____ procedure.   show
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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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76. If you want to see the iterative process in action, click the ____ check box, and Excel will pause after each iteration and show the intermediate solutions that it finds.   show
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show 100  
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show 0.001  
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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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83. Which report type is used to quantify the reliability of a solution?   show
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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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show constraint  
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89. Binding constraints always show a slack of ____.   show
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show true  
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91. If a value in the worksheet violates one of the constraints, the Solver parameter cells will display the value ____   show
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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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93. When using Goal Seek, select the ____ cell in the Set cell box, and then specify its value (goal) in the To value box.   show
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94. ____________________ expenses change in proportion to the amount of business a company does.   show
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show fixed  
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show goal seek  
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97. In Goal Seek, the ____________________ cell is the cell containing the values you want to examine.   show
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show input  
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show data  
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show two-variable  
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show row  
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show column  
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103. If you want to concentrate on only a few key cells, the scenario summary report has ____________________ tools so you can hide and expand different parts of the report.   show
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show report  
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show add-ins  
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show objective  
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show input  
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show slack  
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109. ____________________ constraints always show a slack of 0.   show
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110. The effect that price has on demand is called ____________________ of demand.   show
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show relatively  
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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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113. What are the steps to create a one-variable data table?   show
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show Solver can create three different reports—an answer report, a sensitivity report, and a limits report. The answer report may be the most useful of the three because it summarizes the results of a successful solution by displaying information about the tar  
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