MSIS 3223 - Nord - Okstate - Exam 1 Questions and Answers(GRADED A)

Which of the following ways would 10 raised to the power of 2 × 5 raised to the power of 3/ 100 - 73 be represented in an Excel spreadsheet? - ANSWER-10^2 * 5^3 / 100 - 73 Which of the following is a difference between relative addressing and absolute addressing when using cell formulas in Excel? - ANSWER-A relative address uses just the row and column label in the cell reference; an absolute address uses a dollar sign before either the row or column label. To copy a formula from a single cell or range of cells down a column or across a row, first________, click and hold the mouse on the small square in the lower right-hand corner of the cell, and drag the formula to the "target" cells which you wish to copy. - ANSWER-select the cell or range The easiest way to locate a particular function is to select a cell and click on the Insert function button represented by ________ on the Excel ribbon. - ANSWER-fx The Excel function of ________ is used to find the largest value in a range of cells. - ANSWER-MAX(range) ________ measures the worth of a stream of cash flows, taking into account the time value of money. - ANSWER-Net present value Descriptive analytics: - ANSWER-helps companies classify their customers into segments to develop specific marketing campaigns. Predictive analytics: - ANSWER-detects patterns in historical data and extrapolates them forward in time Which of the following questions will prescriptive analytics help a company address? - ANSWER-What is the best way of shipping goods from their factories to minimize costs? The demand for coffee beans over a period of three months has been represented in the form of an L-shaped curve. Which form of model was used here? - ANSWER-visual model Decision variables: - ANSWER-can be selected at the discretion of the decision maker Descriptive decision models: - ANSWER-describe relationships but do not tell a manager what to do. Prescriptive decision models help: - ANSWER-decision makers identify the best solution to decision problems. Which decision model incorporates the process of optimization? - ANSWER-prescriptive Which of the following is the first phase in problem solving? - ANSWER-recognizing the problem During which phase in problem solving is a formal model often developed? - ANSWER-structuring the problem ________ is a logical function that returns one value if the condition is true and another if the condition is false. - ANSWER-IF(condition, value if true, value if false) In a MATCH function, if the match_type = 0, then ________. - ANSWER-MATCH finds the first value that is exactly equal to lookup_value Which of the following is true about constructing PivotTables? - ANSWER-Dragging a field into the Report Filter area allows addition of a third dimension to the analysis. To select a chart type in Excel from the Charts group, which tab has to be accessed? - ANSWER-Insert tab Roger wants to compare values across categories using vertical rectangles. Which of the following charts must Roger use? - ANSWER-Clustered column chart Which of the following charts provides a useful means for displaying data over time? - ANSWER-Line Chart Philip wishes to understand the relative proportion of each data source to the total. Which of the following charts must Philip use? - ANSWER-Pie chart Observations consisting of pairs of variable data are required to construct a ________ chart. - ANSWER-scatter