Question 1

You use a(n) one-variable data table to determine how two values affect a single result. _________________________

Accepted Answer

two-variable
two variable

Question 2

Rough analysis is a type of what-if analysis that attempts to examine how sensitive the results of an analysis are to changes in the assumptions. _________________________

Accepted Answer

Sensitivity analysis

Question 3

To create a(n) scenario, you plan the input data you want to use and the results, or output, you want to achieve. _________________________

Accepted Answer

Planning input data and desired output is an essential step in creating a scenario.

Question 4

You use a ____ when you want to ask a what-if question involving a range of values.

Accepted Answer

A data table is used to organize and display a range of values, and is particularly useful for what-if questions where you want to change variables and see how they affect the results. A source table and source chart are not commonly used terms in this context, and a data chart is usually used to display numerical data in a visual format rather than for what-if analysis.

Question 5

The contribution margin represents the amount of revenue that can contribute to covering the fixed expenses of a company. _________________________

Accepted Answer

The contribution margin is calculated by subtracting the variable costs from the revenue. This amount represents the amount of money that is available to cover the fixed expenses and contribute to profit. Therefore, the statement is true.

Question 6

A ____ is running a what-if analysis on realistic but not actual data.

Accepted Answer

A simulation involves running a model or representation of a system, process, or situation using realistic but not actual data. This allows for what-if analysis and the testing of different scenarios. Choices B, C, and D may be used in the context of what-if analysis, but do not specifically indicate the use of simulated data.

Question 7

A(n) source table is a range of cells containing values and formulas. _________________________

Accepted Answer

data table

Question 8

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

PivotTable

Question 9

You use data tables when you want to conduct a what-if analysis involving one or two input cells. _________________________

Accepted Answer

Data tables are commonly used for conducting what-if analysis in Excel. They allow for testing different scenarios by varying one or two input cells and viewing the resulting outcomes in a table.

Question 10

You can use two-variable data tables to base a what-if analysis on realistic, but not actual, data. Doing so is called running a(n) situation. _________________________

Accepted Answer

simulation

Question 11

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

Accepted Answer

A one-variable data table uses one input cell and calculates multiple results based on different inputs for that cell.

Question 12

The breaking point is the point at which revenue equals expenses. _________________________

Accepted Answer

break-even point
break even point

Question 13

You use the Simulation Manager to define and save sets of values as scenarios, and then you view and change them as necessary to produce and compare different results. _________________________

Accepted Answer

Scenario Manager

Question 14

Break-even analysis is a type of what-if analysis that concentrates on an activity at or around the point at which a product breaks even-or where the ____ is $0.

Accepted Answer

Break-even analysis focuses on the point where profit is $0, meaning the revenues exactly cover the costs, and there is neither profit nor loss.

Question 15

A ____ analysis asks, "How much will projected profits change if the cost of goods sold per unit changes by $1? By $2?"

Accepted Answer

A sensitivity analysis examines how changes in certain inputs, such as the cost of goods sold, affect the overall outcome or result. In this case, it specifically looks at how changes in the cost of goods sold per unit affect projected profits.

Question 16

Creating the structure for a data table involves creating the set of input values you want to use in a what-if analysis and indicating the results you want to see in the target table. _________________________

Accepted Answer

data table

Question 17

Because you can compare the results of many calculations in data tables, they can be very useful when performing a ____ analysis.

Accepted Answer

Both break-even and sensitivity analysis involve comparing the results of different calculations or scenarios, which can be easily organized and compared using data tables.

Question 18

At its most basic level, what-now analysis involves asking a question about a worksheet, such as: "What if the revenue of the swimwear product line increased by $10,000 per month?" _________________________

Accepted Answer

what if

Question 19

When you change the values, the data table shows you how those changes affect the results of the formulas. _________________________

Accepted Answer

When you change the values in a data table, the resulting values of the formulas are automatically updated and displayed in the table, allowing you to see how making different choices affects the outcome.

Question 20

Source cells contain values, and result cells show the results of formulas. _________________________

Accepted Answer

Input

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

You use a(n) one-variable data table to determine how two values affect a single result. _________________________

Rough analysis is a type of what-if analysis that attempts to examine how sensitive the results of an analysis are to changes in the assumptions. _________________________

To create a(n) scenario, you plan the input data you want to use and the results, or output, you want to achieve. _________________________

You use a ____ when you want to ask a what-if question involving a range of values.

The contribution margin represents the amount of revenue that can contribute to covering the fixed expenses of a company. _________________________

A ____ is running a what-if analysis on realistic but not actual data.

A(n) source table is a range of cells containing values and formulas. _________________________

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

You use data tables when you want to conduct a what-if analysis involving one or two input cells. _________________________

You can use two-variable data tables to base a what-if analysis on realistic, but not actual, data. Doing so is called running a(n) situation. _________________________

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

The breaking point is the point at which revenue equals expenses. _________________________

You use the Simulation Manager to define and save sets of values as scenarios, and then you view and change them as necessary to produce and compare different results. _________________________

Break-even analysis is a type of what-if analysis that concentrates on an activity at or around the point at which a product breaks even-or where the ____ is $0.

A ____ analysis asks, "How much will projected profits change if the cost of goods sold per unit changes by $1? By $2?"

Creating the structure for a data table involves creating the set of input values you want to use in a what-if analysis and indicating the results you want to see in the target table. _________________________

Because you can compare the results of many calculations in data tables, they can be very useful when performing a ____ analysis.

At its most basic level, what-now analysis involves asking a question about a worksheet, such as: "What if the revenue of the swimwear product line increased by $10,000 per month?" _________________________

When you change the values, the data table shows you how those changes affect the results of the formulas. _________________________

Source cells contain values, and result cells show the results of formulas. _________________________