# BUS 150 Part 2

At the break-even point, revenue equals expenses. T or F

T

The item marked 1 in the accompanying figure indicates the profit.

F

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. T or F

F

To open the Goal Seek dialog box, first click the What-If Analysis button in the Data Tools group. T or F

T

If your input values are in a column, you will use the Column input cell option when you use the Data Table command. T or F

T

Two-variable data tables are often used to explore the impact of changing two values on a single result. T or F

T

You cannot merge scenarios in situations involving multiple workbooks. T or F

F

Solver is an add-in, a program that adds customized commands and features to Microsoft Office programs such as Excel. T or F

T

The sensitivity report is most often used in science and engineering environments. T or F

T

A limits report allows you to quantify the reliability of a solution produced by Solver.T or F

T

_____expenses change in proportion to the company’s sales volume.

Variable

CVP analysis is sometimes called ______ analysis.

break even

In traditional what-if analysis, you change _____ values in worksheet cells.

input

The ____ cells are the cells containing the values you want to examine.

result

An array _____ performs multiple calculations on one or more sets of values and then returns either a single value or multiple values.

formula

The items marked 1 in the accompanying figure are the ____ cells.

input

_____ is a program that searches for the optimal solution of a problem involving several variables.

Solver

A(n) ____ cell is a cell that Excel changes to produce the desired result in the target cell.

variable, changing

_________ constraints always show a slack of 0.

binding

A(n) ____ expense is an expense that is part variable and part fixed.

mixed

________ analysis is an important business decision-making tool because it predicts the effect of cutting overhead or raising prices on net income.

CVP

_____ analysis expresses the relationship between a company’s expenses, its volume of business, and the resulting profit.

CVP

Which of the following expense types can be used in a CVP analysis?

a.

static

c.

dynamic

b.

variable

d.

declining

a.

static

c.

dynamic

b.

variable

d.

declining

b. variable

A business must pay insurance and rent; these are examples of _______ expenses.

fixed

All three expense types can be classified as _______.

variable, fixed, and mixed

Goal Seek uses a different approach from traditional _______ analysis.

what-if

With Goal Seek, you specify the _______ values you want.

result

If you orient a one-variable table so that the input values are in the first row, you would use the _______ input cell option.

row

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.

upper-left

{=SUM(B1:B10*C1:C10)} is an example of a(n) _______.

array formula

Once you enter an array formula, Excel will enclose the formula in a set of _______.

curly braces

To calculate multiple cell values, select the range and type the array formula, then press the _______ keys to enter the formula.

Ctrl+Shift+Enter

Before using Scenario Manager, you should assign _______ to all the input and result cells you intend to use in your scenarios.

names

To perform a what-if analysis with more than two input cells, you _______.

create scenarios

The items marked 1 in the accompanying figure are _______ cells.

input

To select nonadjacent changing cells, press and hold the _______ key as you click each cell.

Ctrl

You can switch from one scenario to another by clicking the _______ button in the Scenario Manager dialog box.

show

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.

tabular

_______ is a program that searches for the optimal solution of a problem involving several variables.

solver

The three items that you must specify when using Solver are _______.

variable cell, objective cell, and constraints

In Solver, changing cells are sometimes referred to as _______ cells.

variable

Aside from Solver, other Excel _______ provide the ability to perform statistical analyses, generate business reports, and retrieve financial data from the Internet.

add-ins

To activate Solver, click Solver Add-In in the _______.

add-ins dialog box

A(n) _______ is a limit that is placed on a Solver problem’s solution.

constraint

_______ are important because they ensure a realistic solution to your problem

constraints

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.

solver results

A(n) _______ procedure means that Solver starts with an initial solution and uses that as a basis to calculate a series of solutions.

iterative

If Solver is taking too long to find a solution, you can halt the program at any time by pressing the _______ key.

esc

The default length of time that Solver will spend on the iterative process is _______ seconds.

100

The default convergence value in Solver is _______.

0.001

You can include an analysis of the constraints and conditions by which Solver arrived at its solution by creating a(n) _______ report.

answer

Solver can create the following three different reports: _______.

answer, limits, sensitivity

The _______ report summarizes the results of a successful solution by displaying information about the target cell, changing cells, and constraints.

answer

The answer report is divided into _______ sections.

six

The slack is the difference between the value in the cell and the value at the limit of the _______

constraint

Binding constraints always show a slack of _______

Cells that display the value _______ indicate that all of the values in the worksheet satisfy the Solver constraints.

true

If a value in the worksheet violates one of the constraints, the Solver parameter cells will display the value _______.

false

To set up a(n) ____________________ table, you first insert references to the input and result cells.

data

When creating a(n) ____________________ data table, you must identify the row input cell and the column input cell.

two-variable

The ____________________ input cell is the cell on which values placed in the first column of the data table are based.

column

Click the Scenario PivotTable ____________________ option button to create a PivotTable describing the scenarios.

report

A(n) ____________________ is a customized program that adds commands and features to Microsoft Office programs.

add in

In Solver, a(n) ____________________ cell is a cell that you want to maximize, minimize, or change to a specific value.

objective

The Scenario Manager refers to ____________________ cells as changing cells because these worksheet cells contain values that are changed under the scenario

input

The ____________________ is the difference between the value in a cell and the value at the limit of the constraint.

slack

___________________ constraints always show a slack of 0.

binding

____ changes one cell in order to force another to show a specific value

Goal Seek

____ places limits on a problem’s solution, in Solver

constraint

Summarizes the results of a successful Solver solution

answer report

____ adds commands and features to Excel

add ins

____ cannot be used when a problem contains integer constraints

limits reports

Cells whose values you will change within each scenario

changing

Cells that contain the calculated values you want to examine

result

_____ means that a constraint was not a limiting factor in a Solver solution

nonbinding

Searches for the optimal solution of a problem involving several variables

solver

The difference between the value in a cell and the value at the limit of the constraint

slack

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