1. We can state mathematically the savings associated with 16.
16. Excel contains few tools to assist you in the development and
outsourcing as the difference between 𝑻𝑴𝑪(𝒒), the total cost of debugging of spreadsheet models.
manufacturing 𝑞 units, and 𝑇𝑃𝐶(𝑞), the total cost of purchasing 𝑞 ANS: FALSE - variety
units.
ANS: TRUE 17. After selecting cells, the trace precedents button creates arrows
pointing to the selected cell from cells that are part of the formula
2. Separate the parameters from the model can update the model in that cell.
parameters with the risk of mistakenly creating an error in a ANS: TRUE
formula.
ANS: FALSE – WITHOUT 18. The Evaluate Formulas button allows you to investigate the
calculations of a cell in great detail.
3. An influence diagram is a visual representation of which entities ANS: TRUE
influence others in a model.
ANS: TRUE 19. Influence in the model is depicted by the arrows connecting the
nodes (oval symbols.)
4. One-way data table is an Excel tool that quantifies the impact of ANS: TRUE
changing the value of a single input on an output of interest.
ANS: TRUE 20. The Error Checking button provides a manual means of checking
for mathematical errors within formulas of a worksheet.
5. Goal Seek is an Excel tool that allows the user to determine the ANS: FALSE - AUTOMATIC
purpose of an input cell that will cause the value of a related
output cell to equal some specified value (the goal).
ANS: FALSE – VALUE
6. Scenario Manager is an Excel tool that quantifies the impact of
changing multiple outputs on one or more inputs of interest.
ANS: FALSE – VICE VERSA YUNG INPUTS AND OUTPUTS
7. Scenario manager is useful when the impact on the input
variables of more than two input variables cannot be represented
with the data table tool.
ANS: FALSE - input
8. We can reduce errors and make maintaining the spreadsheet
easier by using clear and easy formulas. Long and complex
calculations should always be divided into several cells.
ANS: FALSE – SIMPLE
9. The SUM function adds all the numbers in a range of cells.
ANS: TRUE
10. The SUMPRODUCT 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.
ANS: TRUE
11. Two-way data table is an Excel tool that qualifies the impact of
changing the value of two inputs on an output of interest.
ANS: FALSE – QUANTIFIES
12. The IF function returns one result if a condition is true, and a
different result If the condition is false.
ANS: TRUE
13. The COUNTIF function counts the number of times the condition
is true in a given range of cells.
ANS: TRUE
14. A good spreadsheet model is well documented, has clear labels,
and proper formatting and alignment facilitate navigation and
understanding.
ANS: TRUE
15. The XLOOKUP function allows the user to pull a subset of data
from a larger table of data based on some criterion.
ANS: TRUE