BUS 150 Part 2 – Flashcards
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At the break-even point, revenue equals expenses. T or F
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T
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The item marked 1 in the accompanying figure indicates the profit.
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F
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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
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F
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To open the Goal Seek dialog box, first click the What-If Analysis button in the Data Tools group. T or F
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T
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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
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T
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Two-variable data tables are often used to explore the impact of changing two values on a single result. T or F
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T
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You cannot merge scenarios in situations involving multiple workbooks. T or F
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F
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Solver is an add-in, a program that adds customized commands and features to Microsoft Office programs such as Excel. T or F
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T
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The sensitivity report is most often used in science and engineering environments. T or F
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T
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A limits report allows you to quantify the reliability of a solution produced by Solver.T or F
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T
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_____expenses change in proportion to the company's sales volume.
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Variable
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CVP analysis is sometimes called ______ analysis.
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break even
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In traditional what-if analysis, you change _____ values in worksheet cells.
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input
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The ____ cells are the cells containing the values you want to examine.
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result
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An array _____ performs multiple calculations on one or more sets of values and then returns either a single value or multiple values.
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formula
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The items marked 1 in the accompanying figure are the ____ cells.
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input
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_____ is a program that searches for the optimal solution of a problem involving several variables.
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Solver
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A(n) ____ cell is a cell that Excel changes to produce the desired result in the target cell.
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variable, changing
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_________ constraints always show a slack of 0.
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binding
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A(n) ____ expense is an expense that is part variable and part fixed.
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mixed
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________ analysis is an important business decision-making tool because it predicts the effect of cutting overhead or raising prices on net income.
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CVP
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_____ analysis expresses the relationship between a company's expenses, its volume of business, and the resulting profit.
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CVP
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Which of the following expense types can be used in a CVP analysis? a. static c. dynamic b. variable d. declining
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b. variable
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A business must pay insurance and rent; these are examples of _______ expenses.
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fixed
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All three expense types can be classified as _______.
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variable, fixed, and mixed
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Goal Seek uses a different approach from traditional _______ analysis.
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what-if
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With Goal Seek, you specify the _______ values you want.
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result
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If you orient a one-variable table so that the input values are in the first row, you would use the _______ input cell option.
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row
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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.
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upper-left
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{=SUM(B1:B10*C1:C10)} is an example of a(n) _______.
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array formula
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Once you enter an array formula, Excel will enclose the formula in a set of _______.
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curly braces
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To calculate multiple cell values, select the range and type the array formula, then press the _______ keys to enter the formula.
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Ctrl+Shift+Enter
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Before using Scenario Manager, you should assign _______ to all the input and result cells you intend to use in your scenarios.
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names
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To perform a what-if analysis with more than two input cells, you _______.
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create scenarios
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The items marked 1 in the accompanying figure are _______ cells.
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input
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To select nonadjacent changing cells, press and hold the _______ key as you click each cell.
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Ctrl
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You can switch from one scenario to another by clicking the _______ button in the Scenario Manager dialog box.
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show
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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.
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tabular
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_______ is a program that searches for the optimal solution of a problem involving several variables.
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solver
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The three items that you must specify when using Solver are _______.
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variable cell, objective cell, and constraints
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In Solver, changing cells are sometimes referred to as _______ cells.
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variable
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Aside from Solver, other Excel _______ provide the ability to perform statistical analyses, generate business reports, and retrieve financial data from the Internet.
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add-ins
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To activate Solver, click Solver Add-In in the _______.
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add-ins dialog box
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A(n) _______ is a limit that is placed on a Solver problem's solution.
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constraint
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_______ are important because they ensure a realistic solution to your problem
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constraints
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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.
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solver results
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A(n) _______ procedure means that Solver starts with an initial solution and uses that as a basis to calculate a series of solutions.
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iterative
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If Solver is taking too long to find a solution, you can halt the program at any time by pressing the _______ key.
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esc
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The default length of time that Solver will spend on the iterative process is _______ seconds.
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100
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The default convergence value in Solver is _______.
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0.001
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You can include an analysis of the constraints and conditions by which Solver arrived at its solution by creating a(n) _______ report.
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answer
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Solver can create the following three different reports: _______.
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answer, limits, sensitivity
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The _______ report summarizes the results of a successful solution by displaying information about the target cell, changing cells, and constraints.
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answer
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The answer report is divided into _______ sections.
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six
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The slack is the difference between the value in the cell and the value at the limit of the _______
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constraint
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Cells that display the value _______ indicate that all of the values in the worksheet satisfy the Solver constraints.
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true
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If a value in the worksheet violates one of the constraints, the Solver parameter cells will display the value _______.
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false
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To set up a(n) ____________________ table, you first insert references to the input and result cells.
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data
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When creating a(n) ____________________ data table, you must identify the row input cell and the column input cell.
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two-variable
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The ____________________ input cell is the cell on which values placed in the first column of the data table are based.
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column
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Click the Scenario PivotTable ____________________ option button to create a PivotTable describing the scenarios.
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report
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A(n) ____________________ is a customized program that adds commands and features to Microsoft Office programs.
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add in
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In Solver, a(n) ____________________ cell is a cell that you want to maximize, minimize, or change to a specific value.
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objective
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The Scenario Manager refers to ____________________ cells as changing cells because these worksheet cells contain values that are changed under the scenario
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input
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The ____________________ is the difference between the value in a cell and the value at the limit of the constraint.
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slack
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___________________ constraints always show a slack of 0.
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binding
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____ changes one cell in order to force another to show a specific value
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Goal Seek
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____ places limits on a problem's solution, in Solver
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constraint
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Summarizes the results of a successful Solver solution
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answer report
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____ adds commands and features to Excel
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add ins
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____ cannot be used when a problem contains integer constraints
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limits reports
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Cells whose values you will change within each scenario
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changing
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Cells that contain the calculated values you want to examine
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result
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_____ means that a constraint was not a limiting factor in a Solver solution
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nonbinding
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Searches for the optimal solution of a problem involving several variables
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solver
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The difference between the value in a cell and the value at the limit of the constraint
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slack
