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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
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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