BITM 215 EXAM QUESTIONS AND ANSWERS LATEST UPDATE A+
GRADED
when do you use structured references?
w/ respect to tables with data
***must specifically name a data table
what is the difference btwn a qualified and unqualified structured reference?
if you use a structured reference within a table, unqualified
if you use a structured reference outside a table, fully qualified reference
qualified has table name in formula
what is analysis of variance used for?
Test to determine if samples of data were taken from the same population
what's a histogram?
visual display of tabulated frequencies
what is covariance?
how two sets of data vary simultaneously
what are two covariance functions?
population and sample
what is IBITDA?
income before interest taxes depreciation and amortization
amortization refers to 2 processes:
1. loan payments
2. assets (value)
what is amortization?
process of decreasing or accounting for an amount; over a period
spreading payments over multiple periods
what is PMT function?
calculates monthly payments
which is easier to understand? a structured reference or a cell reference? why?
structured reference
If you add or delete columns/rows, the cell references may no longer be valid but the
structured references are
statistical functions, suffixed with an S, perform calculations based on?
multiple conditions
what does COUNTIF function calculate
number of cells in a range only for data meeting a specific condition
2 arguments
1.range
2.criteria
what does AVERAGEIF function calculate?
average of cells in a range only for data meeting a specific condition
3 arguments
1.range
, 2.criteria
3.sum range
what does SUMIF calculate?
sum of values in a range only for data meeting a specific condition
3 arguments
1. range
2.criteria
3. sum range
what do statistical functions calculate?
range specified in arguments
what do conditional statistical functions calculate?
based on condition
what will F test tell you?
if a group of variables are jointly significant
if f value is greater than f critical then you can
reject null hypothesis
what will p test tell you?
which variables within that group are significant
what will a T test tell you?
if a single variable is significant
what are three measures of spread?
range
variance
standard deviation
what are three measures of center?
mode
median
mean
what constitutes a fully qualified reference?
using a table name and a structured reference
IPMT and PPMT can be used to
create an amortization table
IPMT=interest payment function syntax- calculates interest portion of a loan payment
PPMT=principal payment function syntax-calculates principal portion of loan payment
analysis toolpak add-in
program that adds functionality to excel
PMT function
payment function calculates loans
what is depreciation?
decline in value of an asset
payback period
length of time required for an investment to recover its initial cost
what is VDB
amount of depreciation changes over time
GRADED
when do you use structured references?
w/ respect to tables with data
***must specifically name a data table
what is the difference btwn a qualified and unqualified structured reference?
if you use a structured reference within a table, unqualified
if you use a structured reference outside a table, fully qualified reference
qualified has table name in formula
what is analysis of variance used for?
Test to determine if samples of data were taken from the same population
what's a histogram?
visual display of tabulated frequencies
what is covariance?
how two sets of data vary simultaneously
what are two covariance functions?
population and sample
what is IBITDA?
income before interest taxes depreciation and amortization
amortization refers to 2 processes:
1. loan payments
2. assets (value)
what is amortization?
process of decreasing or accounting for an amount; over a period
spreading payments over multiple periods
what is PMT function?
calculates monthly payments
which is easier to understand? a structured reference or a cell reference? why?
structured reference
If you add or delete columns/rows, the cell references may no longer be valid but the
structured references are
statistical functions, suffixed with an S, perform calculations based on?
multiple conditions
what does COUNTIF function calculate
number of cells in a range only for data meeting a specific condition
2 arguments
1.range
2.criteria
what does AVERAGEIF function calculate?
average of cells in a range only for data meeting a specific condition
3 arguments
1.range
, 2.criteria
3.sum range
what does SUMIF calculate?
sum of values in a range only for data meeting a specific condition
3 arguments
1. range
2.criteria
3. sum range
what do statistical functions calculate?
range specified in arguments
what do conditional statistical functions calculate?
based on condition
what will F test tell you?
if a group of variables are jointly significant
if f value is greater than f critical then you can
reject null hypothesis
what will p test tell you?
which variables within that group are significant
what will a T test tell you?
if a single variable is significant
what are three measures of spread?
range
variance
standard deviation
what are three measures of center?
mode
median
mean
what constitutes a fully qualified reference?
using a table name and a structured reference
IPMT and PPMT can be used to
create an amortization table
IPMT=interest payment function syntax- calculates interest portion of a loan payment
PPMT=principal payment function syntax-calculates principal portion of loan payment
analysis toolpak add-in
program that adds functionality to excel
PMT function
payment function calculates loans
what is depreciation?
decline in value of an asset
payback period
length of time required for an investment to recover its initial cost
what is VDB
amount of depreciation changes over time
