Question 1

What is a scenario and how is it used? What are the correct terms for a scenario's input and output cells?

Accepted Answer

The answer of What is a scenario and how is...

Question 2

When you have many input assumptions that will vary in each scenario, it is sometimes easier to identify the cells in the input section that will not change in the scenarios, thereby determining the scenarios' changing cells through a process of elimination.

Accepted Answer

A) True 
 B)False

Question 3

Identify the letter of the choice that best matches the word or phrase with its definition.
-A one-output formula that shows the results of the interaction of two different sets of input values

Accepted Answer

A) changing cells 
B) result cells 
C) one-variable data table 
D) data table 
E) input cells
F)two-variable data table
G)range name

Question 4

MATCHING
  
Identify the letter of the choice that best matches the break-even point in the chart above.
-Total revenue line

Accepted Answer

A) A 
B) B 
C) C 
D) D 
E) E

Question 5

A(n) PivotChart report is an interactive table that groups and summarizes information in a concise format so you can easily analyze the information. _________________________

Accepted Answer

A) True 
 B)False

Question 6

A(n) ____________________ data table has only one input cell and many result cells.

Accepted Answer

The answer of A(n) ____________________ data table has only one...

Question 7

You must structure a two-variable data table so that the input values are perpendicular to each other, and so that the table's output formula is located ____ the two sets of input variables.

Accepted Answer

A)  on top of 
B)  at the intersection of 
C)  under 
D)  next to

Question 8

Technically, the number of scenarios you can create is limited only by your computer's memory, but scenario reports can include data from only the first 15 scenarios.

Accepted Answer

A) True 
 B)False

Question 9

A one-variable data table allows you to compare results calculated from changes to ____ input value(s).

Accepted Answer

A)  only one 
B)  one or more 
C)  one or two 
D)  two or more

Question 10

Because a PivotTable is interactive, you can change the view of the data to see more or fewer details.

Accepted Answer

A) True 
 B)False

Question 11

A(n) ____________________ margin is calculated by subtracting variable expenses from sales, and represents the amount of revenue that contributes to covering the fixed expenses of a company.

Accepted Answer

The answer of A(n) ____________________ margin is calculated by subtracting...

Question 12

Creating the structure for a data table involves creating the set of ____ you want to use in your what-if analysis, and then indicating the results you want to see in the data table.

Accepted Answer

A)  input values 
B)  data values 
C)  combination values 
D)  lookup values

Question 13

In financial statistics, a probability distribution assigns a probability to every ____.

Accepted Answer

A)  interval of numbers 
B)  number 
C)  column and row 
D)  formula

Question 14

What are what-if analysis, break-even analysis, and sensitivity analysis? Please include an example of a situation using each type of analysis (one example each).

Accepted Answer

The answer of What are what-if analysis, break-even analysis, and...

Question 15

Data tables allow you to organize and present the results of only one what-if analysis.

Accepted Answer

A) True 
 B)False

Question 16

You can use the Scenario Manager to perform a what-if analysis with ____ input cell(s).

Accepted Answer

A)  at most one 
B)  at most two 
C)  only one or two 
D)  more than two

Question 17

The ____________________ Manager allows you to consolidate multiple what-if models in one worksheet.

Accepted Answer

The answer of The ____________________ Manager allows you to consolidate...

Question 18

Identify the letter of the choice that best matches the word or phrase with its definition.
-The Scenario Manager's version of input cells

Accepted Answer

A) changing cells 
B) result cells 
C) one-variable data table 
D) data table 
E) input cells
F)two-variable data table
G)range name

Question 19

Identify the letter of the choice that best matches the word or phrase with its definition.
-Contain formulas that involve the input cells in their calculations

Accepted Answer

A) changing cells 
B) result cells 
C) one-variable data table 
D) data table 
E) input cells
F)two-variable data table
G)range name

Question 20

Open the Scenario Manager by clicking the DATA tab on the ribbon, clicking the ____ analysis button in the Data Tools group, and then clicking Scenario Manager.

Accepted Answer

A)  What-If 
B)  Sensitivity 
C)  Break-Even 
D)  Contribution

Exam 8: Using Data Tables and Excel Scenarios for What If Analysis

What is a scenario and how is it used? What are the correct terms for a scenario's input and output cells?

When you have many input assumptions that will vary in each scenario, it is sometimes easier to identify the cells in the input section that will not change in the scenarios, thereby determining the scenarios' changing cells through a process of elimination.

Identify the letter of the choice that best matches the word or phrase with its definition. -A one-output formula that shows the results of the interaction of two different sets of input values

MATCHING Identify the letter of the choice that best matches the break-even point in the chart above. -Total revenue line

A(n) PivotChart report is an interactive table that groups and summarizes information in a concise format so you can easily analyze the information. _________________________

A(n) ____________________ data table has only one input cell and many result cells.

You must structure a two-variable data table so that the input values are perpendicular to each other, and so that the table's output formula is located ____ the two sets of input variables.

Technically, the number of scenarios you can create is limited only by your computer's memory, but scenario reports can include data from only the first 15 scenarios.

A one-variable data table allows you to compare results calculated from changes to ____ input value(s) .

Because a PivotTable is interactive, you can change the view of the data to see more or fewer details.

A(n) ____________________ margin is calculated by subtracting variable expenses from sales, and represents the amount of revenue that contributes to covering the fixed expenses of a company.

Creating the structure for a data table involves creating the set of ____ you want to use in your what-if analysis, and then indicating the results you want to see in the data table.

In financial statistics, a probability distribution assigns a probability to every ____.

What are what-if analysis, break-even analysis, and sensitivity analysis? Please include an example of a situation using each type of analysis (one example each).

Data tables allow you to organize and present the results of only one what-if analysis.

You can use the Scenario Manager to perform a what-if analysis with ____ input cell(s) .

The ____________________ Manager allows you to consolidate multiple what-if models in one worksheet.

Identify the letter of the choice that best matches the word or phrase with its definition. -The Scenario Manager's version of input cells

Identify the letter of the choice that best matches the word or phrase with its definition. -Contain formulas that involve the input cells in their calculations

Open the Scenario Manager by clicking the DATA tab on the ribbon, clicking the ____ analysis button in the Data Tools group, and then clicking Scenario Manager.