Chapter 2: Solving Problems with Statistical Analysis Tools

TRUE/FALSE

	1.	Microsoft Excel provides a variety of predefined functions, including statistical functions, that you can use to determine such values as the arithmetic mean, median, mode, and standard deviation of a set of data.

ANS:	T	PTS:	1	REF:	79

	2.	The median is the arithmetic average of a set of numbers.

ANS:	F	PTS:	1	REF:	80

	3.	The standard deviation tells you how closely together values are distributed.

ANS:	T	PTS:	1	REF:	82

	4.	The ROUND argument num_digits is a single value that can be a constant, a cell reference where the cell contains a numerical value, or another formula that results in a single number value.

ANS:	F	PTS:	1	REF:	85

	5.	The formula =ROUNDUP(3.432,1) rounds the value 3.432 up to the next highest tenth, or 3.5.

ANS:	T	PTS:	1	REF:	86

	6.	The Format Painter can be used to copy a format into multiple noncontiguous cells.

ANS:	T	PTS:	1	REF:	88

	7.	Selecting the Set precision as displayed workbook option permanently changes the values in all workbook cells from full precision, which is six digits, to whatever format is displayed in that cell.

ANS:	F	PTS:	1	REF:	88

	8.	If you select the Paste option button called Values, you will paste only the values; the formulas and any formatting from the original cell(s) are not pasted.

ANS:	T	PTS:	1	REF:	90

	9.	The Paste Special dialog box offers Operation options, which allow you to paste values using only three arithmetic operations: Add, Subtract, and Multiply.

ANS:	F	PTS:	1	REF:	92

	10.	The statistical function MODE returns the most frequently occurring value in a range of data.

ANS:	T	PTS:	1	REF:	93

	11.	The technique used to fix certain rows while you scroll to other rows in a worksheet is called freezing panes.

ANS:	T	PTS:	1	REF:	95

	12.	A way to analyze the differences between two sets of data is to look at the percent difference of a value in one data set compared with that value in the second data set.

ANS:	T	PTS:	1	REF:	99

	13.	The syntax of the RANK.EQ function is as follows: RANK(number,sort,order).

ANS:	F	PTS:	1	REF:	105 | 106

	14.	With the LARGE function, the argument called analysis describes the range of cells being evaluated.

ANS:	F	PTS:	1	REF:	107

	15.	The SMALL function determines the nth smallest value in a range.

ANS:	T	PTS:	1	REF:	109

	16.	The COUNTONLY function counts the number of items in a range that meet specified criteria.

ANS:	F	PTS:	1	REF:	111

	17.	The values TRUE and FALSE are referred to as Boolean values.

ANS:	T	PTS:	1	REF:	112

	18.	Relational operators are used to compare data.

ANS:	T	PTS:	1	REF:	113

	19.	Result Seek uses an iterative approach to finding the right input that achieves the desired result, or goal, in the dependent cell.

ANS:	F	PTS:	1	REF:	134

	20.	Simulation is an analytical method that creates artificially generated data to imitate real data.

ANS:	T	PTS:	1	REF:	139

MODIFIED TRUE/FALSE

	1.	The median is the arithmetic value that occurs in the middle of a data set when organized from lowest to highest, where half the values are less than and half the values are greater than the median value. _________________________

ANS:	T			PTS:	1	REF:	80

	2.	The Paste option called Paste Special pastes a connection to the original cells, including the applied formatting. _________________________

ANS:	F
Paste Link
Paste link
paste link

PTS:	1	REF:	91

	3.	In the function RANK.EQ(number,ref,order), the number argument refers to the value to be ranked. _________________________

ANS:	T			PTS:	1	REF:	105

	4.	The BIG function determines the nth largest value in a range. _________________________

ANS:	F, LARGE

PTS:	1	REF:	107

	5.	To obtain the value for the lowest or highest Friction Coefficient values, the MIN and MAX functions would suffice. _________________________

ANS:	T			PTS:	1	REF:	107

	6.	The critical argument is essentially a test that the data must meet in order for it to be counted in the grouping. _________________________

ANS:	F, criteria argument

PTS:	1	REF:	111

	7.	To determine if a value is greater than or equal to another value, you can use syntax operators. _________________________

ANS:	F, relational

PTS:	1	REF:	113

	8.	Wingdings are symbols that you can use as part of the criteria to search for text strings; each symbol can be substituted for a character or set of characters. _________________________

ANS:	F, Wildcards

PTS:	1	REF:	113

	9.	The COUNTIF function accommodates a(n) single contiguous range argument. _________________________

ANS:	T			PTS:	1	REF:	116

	10.	In the SUMIF function, the criteria argument identifies the cell range where the criteria are located. _________________________

ANS:	F, range

PTS:	1	REF:	118

	11.	The ADDIF function adds all the values in a range that meet specified criteria. _________________________

ANS:	F, SUMIF

PTS:	1	REF:	118

	12.	The Format Cells dialog box, which can be opened from the Number group Dialog Box Launcher on the HOME tab, provides many options for changing the display of cell values. _________________________

ANS:	T			PTS:	1	REF:	125

	13.	Excel uses the Goal Find tool to try various input values in order to calculate the required input to achieve your desired outcome. _________________________

ANS:	F, Goal Seek

PTS:	1	REF:	131

	14.	The RANDOM function randomly assigns a number between two specified values. _________________________

ANS:	F, RANDBETWEEN

PTS:	1	REF:	140

	15.	You can recalculate a worksheet at any time by pressing the F9 function key or by selecting the Refresh button found in the Calculation group on the FORMULAS tab on the ribbon. _________________________

ANS:	F, Calculate Now

PTS:	1	REF:	142

MULTIPLE CHOICE

	1.	Microsoft Excel allows you to use ____, such as LARGE, SMALL, and RANK.EQ, that help you to structure and analyze data in meaningful ways.
a.	functions	c.	rules	
b.	charts	d.	arguments	

ANS:	A	PTS:	1	REF:	79

	2.	The ____ is the arithmetic average of a set of numbers.
a.	mean	c.	mode	
b.	median	d.	standard deviation	

ANS:	A	PTS:	1	REF:	80

	3.	The ____ is the arithmetic value that occurs in the middle of a data set when organized from lowest to highest, where half the values are less than and half the values are greater than the median value.
a.	mean	c.	mode	
b.	median	d.	standard deviation	

ANS:	B	PTS:	1	REF:	80

	4.	The ____ is the arithmetic value that occurs most frequently in a data set.
a.	mean	c.	mode	
b.	median	d.	standard deviation	

ANS:	C	PTS:	1	REF:	80

	5.	The ____ is a measure of how widely the data values are dispersed from the arithmetic mean.
a.	mean	c.	mode	
b.	median	d.	standard deviation	

ANS:	D	PTS:	1	REF:	80

	6.	Consider the following five values: 1, 1, 6, 7, and 10. The arithmetic mean of these values is ____.
a.	1	c.	5	
b.	3.94	d.	6	

ANS:	C	PTS:	1	REF:	80

	7.	A(n) ____ distribution exhibits an equal number of occurrences of data values both below and above the arithmetic mean.
a.	normal	c.	simulated	
b.	skewed	d.	angular	

ANS:	A	PTS:	1	REF:	80

	8.	The ____ of a normal distribution are the same value.
a.	mean, median, and mode	
b.	mean and median	
c.	mean, median, mode, and standard deviation	
d.	median and mode	

ANS:	A	PTS:	1	REF:	80

	9.	The ____ function algorithm rounds down all values of less than half the range, and rounds up values from half the range and above.
a.	AVERAGE	c.	DOWN	
b.	NORMAL	d.	ROUND	

ANS:	D	PTS:	1	REF:	86

	10.	The ROUND argument num_digits is the specified number of ____.
a.	decimal places	c.	integers	
b.	digits	d.	operators	

ANS:	A	PTS:	1	REF:	85

	11.	If you wrote the formula =ROUNDDOWN (25.83%,2), the resulting value would be ____.
a.	26%	c.	25.8%	
b.	25%	d.	25.83%	

ANS:	B	PTS:	1	REF:	87

	12.	If you wrote the formula =ODD(1.23), the resulting value would be ____.
a.	1	c.	3	
b.	2	d.	4	

ANS:	C	PTS:	1	REF:	87

	13.	If you wrote the formula =TRUNC(-4.382,1), the resulting value would be ____.
a.	-4	c.	-4.38	
b.	-4.3	d.	-4.382	

ANS:	B	PTS:	1	REF:	87

	14.	Use ____ to copy a format from one cell to another cell or group of contiguous cells.
a.	the Format Painter	c.	Paint	
b.	the Format Copier	d.	Special Format	

ANS:	A	PTS:	1	REF:	88

	15.	Selecting the Set precision as displayed workbook option permanently changes the values in all workbook cells from full precision (____ digits) to whatever format is displayed in that cell, including the number of decimal places.
a.	5	c.	15	
b.	9	d.	21	

ANS:	C	PTS:	1	REF:	88

	16.	The simplest method to copy information is to first select the information you want to copy, and then use the Copy button and the Paste button in the Clipboard group on the ____ tab.
a.	FORMAT	c.	INSERT	
b.	HOME	d.	DATA	

ANS:	B	PTS:	1	REF:	90

	17.	The Paste option called ____ pastes the contents of the copied cells(s) as a picture.
a.	Picture	c.	Paste Picture	
b.	As Picture	d.	Paste Graphic	

ANS:	A	PTS:	1	REF:	91

	18.	The Paste option called ____ pastes the formulas and formatting from the original range of cells, but reverses the orientation so that the rows of the original cell range become the columns in the pasted range, and the original columns become rows.
a.	Transpose	c.	Wildcard	
b.	Switch	d.	Turn	

ANS:	A	PTS:	1	REF:	90

	19.	The Paste option button option called ____ pastes the formulas and formatting from the original cell(s), but not the format of the cell borders.
a.	Keep Source Formatting	c.	Document Theme	
b.	No Borders	d.	Destination Formatting	

ANS:	B	PTS:	1	REF:	90

	20.	The Paste option button called ____ pastes the data and formulas from the original cell(s), and maintains the column width of the original cell(s).
a.	Column Stay	c.	Keep Source Column Widths	
b.	Width Only	d.	Keep Column Size	

ANS:	C	PTS:	1	REF:	90

	21.	The Paste Special dialog box offers the ____ option, which enables you to copy and paste a cell range that contains one or more blank cells where the blank cells are not pasted over any existing values in the range into which they are pasted.
a.	Copy Blanks	c.	Comments	
b.	Blank Over	d.	Skip Blanks	

ANS:	D	PTS:	1	REF:	92

	22.	The MODE.SNGL, MEDIAN, and STDEV.S functions work in a similar way, containing only one type of argument, which is ____.
a.	sort order	c.	a range of values for comparison	
b.	a list of values	d.	ranking parameters	

ANS:	B	PTS:	1	REF:	93

	23.	A list of values can contain ____.
a.	constants and cell references	c.	a two-dimensional block of cells	
b.	a range of cells along a column or row	d.	all of the above	

ANS:	D	PTS:	1	REF:	93

	24.	With a ____ function, you include that function inside another formula or function as one of its arguments.
a.	nested	c.	child	
b.	parent	d.	linked	

ANS:	A	PTS:	1	REF:	94

	25.	The technique used to fix certain rows while you scroll to other rows in a worksheet is called ____ panes.
a.	freezing	c.	keeping	
b.	sticking	d.	locking	

ANS:	A	PTS:	1	REF:	95

	26.	A technique you can use to see different parts of the screen at the same time is to ____ the window by dragging either the horizontal split box or the vertical split box to create separate, scrollable panes.
a.	split	c.	crack	
b.	delete	d.	separate	

ANS:	A	PTS:	1	REF:	96 | 97

	27.	To calculate a(n) ____ between two data sets, you subtract the old value from the new value and then divide the difference by the old value.
a.	average difference	c.	percent difference	
b.	standard deviation difference	d.	none of the above	

ANS:	C	PTS:	1	REF:	99

	28.	The ____ function allows you to sort a list and then count the number of entries either above or below the value in question. 
a.	RANK.EQ	c.	FIND	
b.	POSITION	d.	COUNT	

ANS:	A	PTS:	1	REF:	105

	29.	In the LARGE function, the second argument, k, is the desired ranking, where 1 is ____. 
a.	the largest value	c.	required	
b.	the smallest value	d.	not allowed	

ANS:	A	PTS:	1	REF:	107

	30.	In the SMALL function, the first argument, array, is ____.
a.	a formula	c.	a range of cells	
b.	the desired ranking	d.	a time period	

ANS:	C	PTS:	1	REF:	109

	31.	The syntax of the COUNTIF function is ____.
a.	=COUNTIF(range,array)	c.	=COUNTIF(array,k)	
b.	=COUNTIF(ref,range) 	d.	=COUNTIF(range,criteria)	

ANS:	D	PTS:	1	REF:	111

	32.	The values TRUE and FALSE are referred to as ____.
a.	operational imperatives	c.	base values	
b.	Boolean values	d.	syntax neutral	

ANS:	B	PTS:	1	REF:	112

	33.	The symbols > and >= are examples of ____.
a.	relational operators	c.	arrays	
b.	relational values	d.	reference operators	

ANS:	A	PTS:	1	REF:	113

	34.	____ are symbols that you can use as part of the criteria to search for text strings in which the symbol can be substituted for another character or set of characters.
a.	Wingdings	c.	Open Text symbols	
b.	Wildwheels	d.	Wildcards	

ANS:	D	PTS:	1	REF:	113

	35.	The ____ wildcard specifies that any number of characters can be substituted.
a.	asterisk (*)	c.	forward slash (/)	
b.	question mark (?)	d.	backward slash (\)	

ANS:	A	PTS:	1	REF:	113

	36.	The ____ wildcard specifies that a single character can be substituted.
a.	asterisk (*)	c.	forward slash (/)	
b.	question mark (?)	d.	backward slash (\)	

ANS:	B	PTS:	1	REF:	113 | 114

	37.	Wildcards work with ____.
a.	numbers	c.	text	
b.	dates	d.	all of the above	

ANS:	C	PTS:	1	REF:	114

	38.	With the COUNTIF function, the first time it encounters the comma delimiter, it assumes that what follows is ____.
a.	a date	c.	additional ranges	
b.	a number	d.	the criteria	

ANS:	D	PTS:	1	REF:	116

	39.	The Format Cells dialog box, which can be opened from the ____ group Dialog Box Launcher on the HOME tab, provides many options for changing the display of cell values.
a.	Cells	c.	Number	
b.	Data	d.	Data	

ANS:	C	PTS:	1	REF:	125

	40.	A format code can include up to four parts, each separated by a semicolon, and does NOT include ____. 
a.	negative number format	c.	zero value format	
b.	positive number format	d.	placeholder format	

ANS:	D	PTS:	1	REF:	127

	41.	The ____ symbol acts as a digit placeholder that displays significant digits.
a.	#	c.	?	
b.	0	d.	%	

ANS:	A	PTS:	1	REF:	128

	42.	The ____ symbol acts as a digit placeholder that displays both significant and insignificant zeros.
a.	#	c.	?	
b.	0	d.	%	

ANS:	B	PTS:	1	REF:	128

	43.	The ____ symbol acts as a digit placeholder that does not display insignificant digits, but does hold a place so that decimal points will align.
a.	#	c.	?	
b.	0	d.	%	

ANS:	C	PTS:	1	REF:	128

	44.	The ____ symbol inserts a percentage sign and automatically multiplies the value inserted by 100 for display.
a.	#	c.	?	
b.	0	d.	%	

ANS:	D	PTS:	1	REF:	128

	45.	The ____ symbol(s) insert(s) a comma as a thousands separator or as a scaling operator.
a.	,	c.	“”	
b.	*	d.	@	

ANS:	A	PTS:	1	REF:	128

	46.	The ____ symbol(s) indicate(s) repetition of the following character enough times to fill the column to its complete width.
a.	,	c.	“”	
b.	*	d.	@	

ANS:	B	PTS:	1	REF:	128

	47.	The ____ symbol(s) specify/specifies that text enclosed in between these marks should be inserted as shown.
a.	, 	c.	“”	
b.	*	d.	@	

ANS:	C	PTS:	1	REF:	128

	48.	The ____ symbol(s) indicate(s) the location where text should be inserted in cells formatted with a custom format.
a.	,	c.	“”	
b.	*	d.	@	

ANS:	D	PTS:	1	REF:	128

	49.	The ____ symbol indicates to skip the width of the next character. It’s frequently used with ( ) to make sure positive numbers align with negative numbers displayed with ( ).
a.	_ (underscore)	c.	@	
b.	- (dash)	d.	+	

ANS:	A	PTS:	1	REF:	128

	50.	Performing a ____ analysis means, simply, to determine the outcome of changing one or more input values and to evaluate the recalculated results.
a.	maybe	c.	factor	
b.	what-if	d.	research	

ANS:	B	PTS:	1	REF:	131

	51.	When using Goal Seek, you can specify the outcome you want and which input value you want to vary, and Excel ____. 
a.	gives you a set of code to use in a database program	
b.	automatically calculates the solution	
c.	prompts you with a dialog box	
d.	none of the above	

ANS:	B	PTS:	1	REF:	131

	52.	In the Goal Seek dialog box, the cell containing the data to vary in order to reach the desired output is labeled ____.
a.	By changing cell	c.	What if	
b.	What to change	d.	Vary	

ANS:	A	PTS:	1	REF:	132

	53.	In the Goal Seek dialog box, you use the Set cell box to specify the cell ____.
a.	in which the output value will appear	c.	with the output label	
b.	that contains the formula to use	d.	none of the above	

ANS:	A	PTS:	1	REF:	132

	54.	The Step button in Goal Seek ____.
a.	allows you to step through each iteration one step at a time	
b.	returns the data in separate spreadsheets	
c.	walks you through the steps similar to a wizard	
d.	none of the above	

ANS:	A	PTS:	1	REF:	134

	55.	Once the Goal Seek Status dialog box gives the target value, you can click ____ to update your worksheet with the new values based on Goal Seek.
a.	OK	c.	New	
b.	Update	d.	Cancel	

ANS:	A	PTS:	1	REF:	132

	56.	In Goal Seek, if the target value cannot be reached exactly, the ____.
a.	Goal Seek dialog box asks for your input	
b.	value of zero is listed as the current value	
c.	closest value found is listed as the current value	
d.	none of the above	

ANS:	C	PTS:	1	REF:	132

	57.	Goal Seek uses ____ approach to finding the right input that achieves the desired result, or goal, in the dependent cell.
a.	a database	c.	a scientific	
b.	an iterative	d.	a random	

ANS:	B	PTS:	1	REF:	134

	58.	Goal Seek continues to enter values until it reaches ____.
a.	0.001 of the goal	c.	either a or b	
b.	100 iterations	d.	neither a nor b	

ANS:	C	PTS:	1	REF:	134

	59.	The ____ function provided by Excel averages a series of values if they meet specific criteria.
a.	COUNTIF	c.	AVERAGE	
b.	SUMIF	d.	none of the above	

ANS:	D	PTS:	1	REF:	136

	60.	Goal Seek allows you to vary ____ input(s).
a.	a single	c.	up to 5	
b.	up to 3	d.	up to 10	

ANS:	A	PTS:	1	REF:	134

	61.	The input for Goal Seek can be ____.
a.	a constant value	c.	either a or b	
b.	derived from a formula	d.	neither a nor b	

ANS:	A	PTS:	1	REF:	135

	62.	The syntax of the AVERAGEIF function ____ is very similar to the syntax of the SUMIF function.
a.	(range,criteria,average_range)	c.	(ref,range,criteria)	
b.	(criteria,average,range)	d.	(array,average_range,ref)	

ANS:	A	PTS:	1	REF:	136

	63.	____ is an analytical method that creates artificially generated data to imitate real data.
a.	Simulation	c.	Role playing	
b.	Play acting	d.	Regression	

ANS:	A	PTS:	1	REF:	139

	64.	A simulation that is based on randomly generating specific values that have an equal chance of appearing, such as numbers on a set of dice, is often referred to as a ____ simulation.
a.	Las Vegas	c.	Lucky 7	
b.	Blackjack	d.	Monte Carlo	

ANS:	D	PTS:	1	REF:	139

	65.	The ____ function randomly assigns a number between two specified values.
a.	RANGERANDOM	c.	INBETWEEN	
b.	RANDBETWEEN	d.	RANDOM	

ANS:	B	PTS:	1	REF:	140

	66.	The ____ function returns a random value between 0 and 1.
a.	RANDUNDER	c.	RANDZERO	
b.	RAND	d.	RANDONE	

ANS:	B	PTS:	1	REF:	140

	67.	The formula =RANDBETWEEN(1,3) randomly returns a(n) ____.
a.	integer with three numbers	c.	number with three decimal places	
b.	1, 2, or 3	d.	none of the above	

ANS:	B	PTS:	1	REF:	140

	68.	Automatic calculation can be turned off from the ribbon or from the ____ dialog box accessed via the FILE tab.
a.	Excel Options	c.	Automatic Options	
b.	Worksheet Options	d.	Ribbon Options	

ANS:	A	PTS:	1	REF:	142

	69.	When working with the RAND and RANDBETWEEN functions, every time you enter another value in a cell anywhere on the worksheet, the random values ____.
a.	automatically change	c.	prompt you with an error message	
b.	prompt you with a dialog box	d.	stay the same	

ANS:	A	PTS:	1	REF:	141

	70.	You can recalculate a worksheet at any time by pressing the ____ function key.
a.	F5	c.	F8	
b.	F7	d.	F9	

ANS:	D	PTS:	1	REF:	142

Case-Based Critical Thinking Questions
Case 2-1

Julia is learning how to use relational operators with the COUNTIF function. Her boss handed her the chart in the above figure and asked her to solve some everyday business problems.

	71.	Julia wants to take a count of all employees who are participating in more than one committee. The data is listed in column F of a worksheet. The correct formula would be ____.
a.	=COUNTIF(F3:F13,“<1”)	c.	=COUNTIF(F3:F13,“>=1”)	
b.	=COUNTIF(F3:F13,“>1”)	d.	=COUNTIF(F3:F13,“=1”)	

ANS:	B	PTS:	1	REF:	112	TOP:	Critical Thinking

	72.	Julia wants to take a count of all employees who are participating in exactly one committee. The correct formula would be ____.
a.	=COUNTIF(F3:F13,“<1”)	c.	=COUNTIF(F3:F13,“>=1”)	
b.	=COUNTIF(F3:F13,“>1”)	d.	=COUNTIF(F3:F13,“=1”)	

ANS:	D	PTS:	1	REF:	112	TOP:	Critical Thinking

	73.	After showing her boss the data, he asked her to run one more COUNTIF to determine who is on one or more committees. The correct formula would be ____.
a.	=COUNTIF(F3:F13,“<1”)	c.	=COUNTIF(F3:F13,“>=1”)	
b.	=COUNTIF(F3:F13,“>1”)	d.	=COUNTIF(F3:F13,“=1”)	

ANS:	C	PTS:	1	REF:	112	TOP:	Critical Thinking

	74.	On a separate project, the head of Human Resources is looking for a list of people who do not have 100% attendance. In the database, the number 1 means 100% attendance; all other numbers indicate that some work was missed (for example, .75 is 75% attendance). The data is listed in column E of a worksheet. The correct COUNTIF formula would be ____.
a.	=COUNTIF(E3:E13,“<>1”)	c.	=COUNTIF(E3:E13,“>=1”)	
b.	=COUNTIF(E3:E13,“=1”)	d.	=COUNTIF(E3:E13,“<1”)	

ANS:	A	PTS:	1	REF:	112	TOP:	Critical Thinking

	75.	If the Human Resources director wanted a list of people who do have 100% attendance, the correct formula would be ____.
a.	=COUNTIF(E3:E13,“<>1”)	c.	=COUNTIF(E3:E13,“>=1”)	
b.	=COUNTIF(E3:E13,“=1”)	d.	=COUNTIF(E3:E13,“<1”)	

ANS:	B	PTS:	1	REF:	112	TOP:	Critical Thinking

Case-Based Critical Thinking Questions
Case 2-2

Nevia is using Goal Seek for the first time. She is determining what to put in each text box inside the Goal Seek dialog box shown in the above figure.

	76.	If you were to help Nevia, you would tell her that the space labeled #1 in the above figure ____.
a.	indicates the cell containing the output value	
b.	indicates the desired output value	
c.	indicates the cell containing the data to vary in order to reach the desired output	
d.	none of the above	

ANS:	A	PTS:	1	REF:	132	TOP:	Critical Thinking

	77.	Nevia has told you that the desired value is 325. In which text box should she insert the desired value?
a.	#1	c.	#3 	
b.	#2	d.	none of the above	

ANS:	B	PTS:	1	REF:	132	TOP:	Critical Thinking

	78.	Nevia’s boss stops by her desk and asks which of the three numbers in the above figure is considered to be the dependent data, and she correctly answers ____.
a.	#1	c.	#3	
b.	#2	d.	none of the above	

ANS:	C	PTS:	1	REF:	132	TOP:	Critical Thinking

	79.	At the end of the project, Nevia is very pleased with the results and is giving a demo of Goal Seek to a few of her co-workers. To open Goal Seek, her first step is to click the ____ tab on the ribbon.
a.	FORMULAS	c.	REVIEW	
b.	PAGE LAYOUT	d.	DATA	

ANS:	D	PTS:	1	REF:	132	TOP:	Critical Thinking

	80.	Once Nevia clicks the correct tab, to open Goal Seek, she clicks the ____ button in the Data Tools group, then selects Goal Seek.
a.	What-If Analysis	c.	Goal Minder	
b.	Simulation	d.	Data Dialog	

ANS:	A	PTS:	1	REF:	132	TOP:	Critical Thinking

COMPLETION

	1.	____________________ is a measure of how widely the data values are dispersed from the arithmetic mean.

ANS:	Standard deviation

PTS:	1	REF:	80

	2.	To specify that a value should be precisely stored to the nearest hundredth, use the ____________________ function.

ANS:	
ROUND
Round
round

PTS:	1	REF:	84 | 85

	3.	The formula =____________________(3.432,1) rounds the value 3.432 up to the next highest tenth, or 3.5.

ANS:	
ROUNDUP
Roundup	
roundup

PTS:	1	REF:	86

	4.	The ____________________ Paste option button pastes the formulas and formatting from the original cell(s), but not the format of the cell borders.

ANS:	No Borders

PTS:	1	REF:	90

	5.	The ____________________ Paste option button pastes only the formulas from the original (copied) cell(s).

ANS:	Formulas

PTS:	1	REF:	90

	6.	The ______________________________ Paste option button pastes values from the original cell(s) and formatting.

ANS:	
Values & Source Formatting
Values and Source Formatting
values & source formatting
values and source formatting

PTS:	1	REF:	90

	7.	The ____________________ Paste option button pastes a connection to the original cell, including the applied formatting.

ANS:	
Paste Link
paste link

PTS:	1	REF:	91

	8.	The MODE.SNGL, MEDIAN, and STDEV.S functions work in a similar way, containing only one type of ____________________, which is a list of values.

ANS:	argument

PTS:	1	REF:	93

	9.	When you ____________________ a function, you include that function inside another formula or function as one of its arguments.

ANS:	nest

PTS:	1	REF:	94

	10.	Excel provides several tools for displaying and scrolling columns and/or rows so that certain areas can be fixed, or ____________________, and the remainder of the worksheet can be scrolled easily.

ANS:	frozen

PTS:	1	REF:	95

	11.	To split an Excel window vertically, click the ____________________ after clicking to the right and below the location where you want to divide the window.

ANS:	split button

PTS:	1	REF:	96

	12.	To split the screen both vertically and horizontally so there are five rows at the top and three columns on the left, place the cursor in the ____________________ column displayed on the screen in the sixth row of the worksheet.

ANS:	
fourth
4th

PTS:	1	REF:	96

	13.	To calculate a(n) ____________________ between two data sets, you subtract the old value from the new value and then divide the difference by the old value.

ANS:	percent difference

PTS:	1	REF:	99

	14.	In the function RANK.EQ(number,ref,[order]), the ____________________ argument is the range of values the number is being compared with.

ANS:	
REF
Ref
ref

PTS:	1	REF:	105

	15.	The ____________________ function counts the number of items in a range that meet specified criteria.

ANS:	COUNTIF

PTS:	1	REF:	111

	16.	Wildcards do not work with values that are numbers or dates, only ____________________.

ANS:	text

PTS:	1	REF:	114

	17.	The relational operator >= stands for ____________________ than or equal to.

ANS:	greater

PTS:	1	REF:	113

	18.	When the # symbol acts as a placeholder for a digit, it is considered to be a(n) ____________________ code.

ANS:	number formatting

PTS:	1	REF:	128

	19.	Up to four different format codes can be applied to a cell: one for positive numbers, one for negative numbers, one for zero values, and one for ____________________.

ANS:	text

PTS:	1	REF:	127

	20.	Performing a(n) ____________________ analysis means, simply, to determine the outcome of changing one or more input values and to evaluate the recalculated results.

ANS:	
what-if
what if

PTS:	1	REF:	131

MATCHING

Using the above figure, identify the letter of the choice that best matches the figure.

a.	Counts all Inspector IDs that contain the text value “1” anywhere in the value (A313, C321, B313, and so on)	
b.	Counts all Inspector IDs that end with the text value “3”	
c.	Counts all Inspector IDs that have the value “3” in the third-to-last position in the text value, regardless of the number of preceding characters	
d.	Counts all Inspector IDs with a single character followed by the characters “313”; notice that cell H7 is not counted because it contains two characters preceding the characters “313”	

	1.	#1

	2.	#2

	3.	#3

	4.	#4

	1.	ANS:	B	PTS:	1	REF:	114

	2.	ANS:	A	PTS:	1	REF:	114

	3.	ANS:	D	PTS:	1	REF:	114

	4.	ANS:	C	PTS:	1	REF:	114

Identify the letter of the choice that best matches the function.
a.	=ROUND(25.449,0)	
b.	=ROUND(SUM(10.33,10.44),0)	
c.	=ROUND(25.33%,2)	
d.	=INT(-4.3)	
e.	=ROUND(103234,-2)	
f.	=ROUND(23.75%,2)	
g.	=ROUNDDOWN(9.99,0)	
h.	=EVEN(2.23)	

	5.	24% 

	6.	21 

	7.	25%

	8.	-5

	9.	25 

	10.	9

	11.	4

	12.	103,200 

	5.	ANS:	F	PTS:	1	REF:	86 | 87

	6.	ANS:	B	PTS:	1	REF:	86 | 87

	7.	ANS:	C	PTS:	1	REF:	86 | 87

	8.	ANS:	D	PTS:	1	REF:	86 | 87

	9.	ANS:	A	PTS:	1	REF:	86 | 87

	10.	ANS:	G	PTS:	1	REF:	86 | 87

	11.	ANS:	H	PTS:	1	REF:	86 | 87

	12.	ANS:	E	PTS:	1	REF:	86 | 87

ESSAY

	1.	List and explain briefly mean, median, mode, and standard deviation.

ANS:	
• Mean is the arithmetic average of a set of numbers.
• Median is the arithmetic value that occurs in the middle of a data set when organized from lowest to highest, where half the values are less than and half the values are greater than the median value.
• Mode is the arithmetic value that occurs most frequently in a data set.
• Standard deviation is a measure of how widely the data values are dispersed from the arithmetic mean.

PTS:	1	REF:	80	TOP:	Critical Thinking	

	2.	Describe what the arguments are for this function: =SUMIF(range,criteria,sum_range).

ANS:	
• The range argument identifies the cell range where the criteria are located.
• The criteria argument specifies which values should be selected.
• The sum_range argument identifies the corresponding cell range to sum if the specified criteria have been met in the range established by the range argument. If the sum_range argument is omitted, the function adds the values in the range indicated by the first argument.

PTS:	1	REF:	118	TOP:	Critical Thinking	

	3.	Explain what the following four number formatting codes do when used in Excel: #, 0, ?, and %. Write one sentence about each symbol and give an example of how it can be used.

ANS:	
The # symbol acts as a digit placeholder that displays significant digits (for example, ####.#).
The 0 symbol acts as a digit placeholder that displays both significant and insignificant zeros (for example, 0.00).
The ? symbol acts as a digit placeholder that does not display insignificant digits, but does hold a place so that decimal points will align (for example, 0.00?).
The % symbol inserts a percentage sign and automatically multiplies the value inserted by 100 for display (for example, #%).

PTS:	1	REF:	128	TOP:	Critical Thinking