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Exam 10: Spreadsheet Models

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Question 1

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The following table is used to lookup information on a specific product. The Product ID is entered into cell B2 and the information is returned in the shaded box. There are several formulas in the table. How could I look at the cells that use the value in cell B2? ​

A) Select "Trace Dependents" in the Formula Auditing Group on the Formulas tab.
B) Select "Trace Precedents" in the Formula Auditing Group on the Formulas tab.
C) Select "Show Formulas" in the Formula Auditing Group on the Formulas tab.
D) Select "Evaluate Formulas" in the Formula Auditing Group on the Formulas tab.

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Question 2

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The ___________ button in the Formula Auditing group allows the user to inspect each formula in detail in its cell location.

A) Evaluate Formula
B) Error Checking
C) Watch Window
D) Show Formulas

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D

Question 3

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The influence in an influence diagram is visually depicted by

The calculations of a cell can be investigated in great detail by using the __________ button.

The VLOOKUP with range set to __________ takes the first argument and searches the first column of the table for the last row that is strictly less than the first argument.

A __________ decision is one in which companies have to decide whether they should manufacture a product or outsource production to another firm.

The modeling process begins with the framing of a _________ model that shows the relationships between the various parts of the problem being modeled.

The __________ function pairs each element of the first array with its counterpart in the second array, multiplies the elements of the pairs together, and adds the results.

With reference to the SUMPRODUCT function, which of the following statements is true?

Which of the following tools provides an excellent means of identifying the exact location of an error in a formula?

Excel's __________ tool allows the user to determine the value of an input cell that will cause the value of a related output cell to equal some specified value.

The __________ function is used for the conditional computation of expressions in Excel.

Navigation in a spreadsheet model can be facilitated by

Suppose a company supplies four of its products A, B, C, and D, to five different regions. The management wants to know the total number of all products supplied to each region as well as the total number of units of each product supplied. The data collected over a period of month are given below. $\begin{array} { | c | c | c | } \hline \text { Region } & \text { Model } & \begin{array} { c } \text { Number of } \\\text { units }\end{array} \\\hline \text { Region 1 } & \text { A } & 1,784 \\\hline \text { Region 2 } & \text { A } & 2,170 \\\hline \text { Region 3 } & \text { A } & 415 \\\hline \text { Region 4 } & \text { A } & 2,040 \\\hline \text { Region 5 } & \text { A } & 2,991 \\\hline \text { Region 1 } & \text { B } & 947 \\\hline \text { Region 2 } & \text { B } & 2,111 \\\hline \text { Region 3 } & \text { B } & 1,234 \\\hline \text { Region 4 } & \text { B } & 2,061 \\\hline \text { Region 5 } & \text { B } & 607 \\\hline \text { Region 1 } & \text { C } & 2,907 \\\hline \text { Region 2 } & \text { C } & 4,790 \\\hline \text { Region 3 } & \text { C } & 2,191 \\\hline \text { Region 4 } & \text { C } & 1,942 \\\hline \text { Region 5 } & \text { C } & 220 \\\hline \text { Region 1 } & \text { D } & 2,557 \\\hline \text { Region 2 } & \text { D } & 2,980 \\\hline \text { Region 3 } & \text { D } & 1,518 \\\hline \text { Region 4 } & \text { D } & 2,957 \\\hline \text { Region 5 } & \text { D } & 4,462 \\\hline\end{array}$ Display your use of the SUMIF function and find the total volume by each region and total volume by each product. ​ ​

Which of the following approaches is a good way to proceed with the influence diagram building for a problem?

The __________ function allows the user to pull a subset of data from a larger table of data based on some criterion.

What do nodes in an influence diagram represent?

The average cost/unit for the production of a particular component at a manufacturing plant varies with the number of units produced in each batch. The data are given below. ​ $\begin{array} { | l | l | } \hline \text { Number of units produced } & \text { Cost/unit } \\\hline 0 - 49 & \$ 37.72 \\\hline 50 - 100 & \$ 25.02 \\\hline\end{array}$ ​ Suppose the selling price of each unit is $35. Use a two-way data table to show how the profit changes as a function of demand and the selling price of the product. Vary the demand from 20 units to 80 units in increments of 10 units and selling price from $30 to $40 in increments of $2.

With reference to a spreadsheet model, an uncontrollable model input is known as a(n)

Using only the "SUMIF" function, complete the "Team Sales." ​ ​ $\begin{array}{l}\text { Individual Sales }\\\begin{array} { | l | l | l | l | } \hline \text { Rank } & \text { Name } & \text { Sales } & \text { Team } \\\hline 1 & & & \\\hline 2 & & & \\\hline 3 & & & \\\hline 4 & & & \\\hline 5 & & & \\\hline 6 & & & \\\hline 7 & & & \\\hline 8 & & & \\\hline 9 & & & \\\hline 10 & & & \\\hline\end{array}\end{array}$