Exam 2: Formulas and Functions

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How many functions does Excel provide?

(Multiple Choice)
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The test argument in an IF statement must evaluate to either ________.

(Short Answer)
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Match the result with the function using the following numbers, 21, 42, 97, 1, 14, 199 [to two decimal places]:
62.33
COUNT
6
MEDIAN
1
MAX
Correct Answer:
Verified
Premises:
Responses:
62.33
COUNT
6
MEDIAN
1
MAX
199
AVERAGE
31.50
MIN
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Using ________ simplifies adding complex mathematical formulas to a cell.

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Which status bar statistic can you not enable?

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What actually changes the value Excel stores to a user determined number of decimal places?

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What error will you get if you type a function name incorrectly?

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Which of the following will not return the system clock's date?

(Multiple Choice)
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Match the following terms with their description:
VLOOKUP
Cell that contains the value to be looked up
Column index number
Data is organized in rows
HLOOKUP
Has the data used with HLOOKUP or VLOOKUP
Correct Answer:
Verified
Premises:
Responses:
VLOOKUP
Cell that contains the value to be looked up
Column index number
Data is organized in rows
HLOOKUP
Has the data used with HLOOKUP or VLOOKUP
Lookup value
Data is organized in columns
Lookup table
Column that contains the return values
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When you use the VLOOKUP function, the ________ column in the array is used to look up the value.

(Short Answer)
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If a cell contains =$N$21 and two new columns are inserted in front of column N and three rows are inserted above row 21, what happens to the =$N$21?

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The COUNTBLANK function will count cells that contain formulas that compute to a value of zero (0).

(True/False)
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Match the following terms with their description:
TODAY()
Current amount of a loan
PMT
Returns the system date
RATE
Returns the system date and time
Correct Answer:
Verified
Premises:
Responses:
TODAY()
Current amount of a loan
PMT
Returns the system date
RATE
Returns the system date and time
NOW()
Helps figure out how much a loan will cost each month
PV
A good example is interest
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The ________ function finds the largest value in a range.

(Short Answer)
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In the HLOOKUP function, the third argument is the column index number.

(True/False)
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Match the following terms with their description:
Average
Range used for looking up values
Median
Lowest value in a series
Table array
Arithmetic mean
Correct Answer:
Verified
Premises:
Responses:
Average
Range used for looking up values
Median
Lowest value in a series
Table array
Arithmetic mean
Sum
Total
Breakpoint
Midpoint value
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When entering functions, the square brackets, [], indicate required values.

(True/False)
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Which of the following is not a valid =IF statement?

(Multiple Choice)
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Which of the following does not comply with the preferred way of using the SUM function?

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Which function would you use if you wanted to count the number of values, but ignore cells that have text or are empty?

(Multiple Choice)
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