Deck 4: The Art of Modeling With Spreadsheets

Question 1

Colors and shading should be avoided on a spreadsheet because it distracts from the model.

Answer 1

False

Question 2

The Plan-Build-Test-Analyze process should always be followed step-by-step,from beginning to end: Plan then Build then Test then Analyze.

Answer 2

False

Question 3

Numbers should be included directly in formulas rather than entered separately in data cells in order to keep the spreadsheet model concise.

Answer 3

False

Question 4

When sketching out a spreadsheet,it is important to have determined the formulas for all of the output cells.

Question 5

Once the data is entered,it should never be moved.

Question 6

There is a systematic procedure that will lead to a single correct spreadsheet model.

Question 7

Which of the following is not a major step in the process of modeling with spreadsheets?

A)Plan.
B)Build.
C)Test.
D)Analyze.
E)All of the above are major steps.

Question 8

An advantage of the long-term loan for Everglade is that it has a lower interest rate than the short-term loan.
Multiple Choice Questions

Question 9

The toggle feature in Excel switches back and forth between viewing formulas and viewing values in the output cells.

Question 10

The auditing tools can be used to trace the cells that make reference to a particular cell.

Question 11

Data should be repeated within every output cell as needed.

Question 12

It is better to use power functions in Excel to complete a calculation in a single cell than to spread out a calculation over many cells using simpler formulas.

Question 13

An absolute reference does not change when it is filled or copied into other cells.

Question 14

A relative reference does not change when it is filled or copied into other cells.

Question 15

When a number is needed in an output cell,is should typically be entered there directly.

Question 16

Whenever possible,the entire model should be displayed on the spreadsheet.

Question 17

Which of the following best describes spaghetti code?

A)Code that is not logically organized and jumps all over the place.
B)Code that is well documented.
C)Code that has a clear beginning,middle,and end.
D)All of the above.
E)None of the above.

Question 18

The data is the first thing that should be entered in a spreadsheet model.

Question 19

When building a model,it is often a good idea to start with a small-scale version of the problem.

Question 20

If two managers are given the same business problem to analyze with a spreadsheet,their spreadsheet models will likely be almost identical.

Question 21

Which of the following tips can be helpful when you can't figure out what formula needs to be entered in an output cell?

A)Visualize where you want to finish.
B)Test the model.
C)Do some calculations by hand.
D)Optimize the model.
E)All of the above.

Question 22

Which of the following are valid range names in Excel?

A)Total Profit
B)TotalProfit
C)Total_Profit
D)All of the above.
E)b and c only.

Question 23

Which of the following is not a part of the planning step when building a spreadsheet model?

A)Visualize where you want to finish.
B)Do some calculations by hand.
C)Sketch out a spreadsheet.
D)Test the spreadsheet model.
E)All of the above are part of the planning step.

Question 24

What are some ways to distinguish data cells,changing cells,output cells,and target cells on a spreadsheet?

A)Borders.
B)Shading.
C)Color.
D)All of the above.
E)a and c only.

Question 25

How many cells should be used to represent each constraint?

A)0
B)1
C)2
D)3
E)4

Question 26

When testing a spreadsheet model by entering values in the changing cells,which of the following are appropriate values to enter?

A)Zeroes.
B)Values for which you know what the values of the output cells should be.
C)Large numbers.
D)All of the above.
E)b and c only.

Question 27

Which of the following should be entered first when building a spreadsheet model?

A)The target cell.
B)The data cells.
C)The changing cells.
D)The output cells.
E)The Solver parameters.

Question 28

Which of the following is not an advantage of using range names?

A)They make formulas easier to interpret.
B)They make the Solver dialogue box entries easier to understand.
C)They make the model easier to modify.
D)b and c are not advantages of using range names.
E)All of the above are advantages of using range names.

Question 29

Which of the following is an appropriate first step when building a spreadsheet model?

A)Start with building a small scale model.
B)Visualize where you want to finish.
C)Test the model.
D)Expand the model to full scale.
E)Optimize the model.

Question 30

Each data value should be entered into how many cells?

A)0
B)1
C)2
D)3
E)The value should be entered into any formula in which it is needed.

Question 31

Which of the following can be done using the auditing tools in Excel?

A)Trace the cells that make reference to a particular cell.
B)Trace the cells that a particular cell refers to.
C)Trace the history of values for a particular cell.
D)Determine the valid entries in a particular cell.
E)a and b only.