Question 1

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

Accepted Answer

The COUNTIF function counts the number of items in a range that meet specified criteria. There is no COUNTONLY function in Excel.

Question 2

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

Accepted Answer

The SMALL function is used to determine the nth smallest value in a range in Excel.

Question 3

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

Accepted Answer

Freezing panes is a real Excel feature that allows you to lock certain rows or columns in place so that they always appear on the screen, even as you move through large sets of data.

Question 4

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.

Accepted Answer

The statement is correct; selecting the Paste option button called Values will only paste the values and not the formulas or formatting.

Question 5

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

Accepted Answer

The statement is correct, TRUE and FALSE are Boolean values in programming.

Question 6

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.

Accepted Answer

The "Set precision as displayed" option in Excel does not permanently change the values in cells to six digits; it changes the cell values to match the displayed format, which could be any number of digits based on the format applied, not specifically six.

Question 7

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

Accepted Answer

The answer of Result Seek uses an iterative approach to...

Question 8

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.

Accepted Answer

This statement is true. Microsoft Excel does provide predefined functions, including statistical functions, that can be used to find various values of a set of data such as mean, median, mode, and standard deviation.

Question 9

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

Accepted Answer

In the LARGE function, the argument that describes the range of cells being evaluated is called "array," not "analysis."

Question 10

Relational operators are used to compare data.

Accepted Answer

Relational operators are used for comparing data. They include <, >, <=, >=, ==, and !=.

Question 11

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

Accepted Answer

The correct syntax for the RANK.EQ function in Excel is RANK.EQ(number, ref, [order]). The function does not include "sort" as a parameter; instead, it uses "ref" to specify the array or range of data, and "order" is optional to specify ascending or descending order.

Question 12

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.

Accepted Answer

The answer of The ROUND argument num_digits is a single...

Question 13

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

Accepted Answer

Simulation creates a model or scenario that mimics real-life situations to generate artificial data for analysis.

Question 14

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

Accepted Answer

The MODE function in statistics returns the most frequently occurring value in a range of data. Therefore, the statement is true.

Question 15

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.

Accepted Answer

Percent difference can be used to analyze the differences between two sets of data by comparing the difference in values between the two sets relative to the average of the two values. The percent difference formula is ((|value 1 - value 2|)/((value 1 + value 2)/2))*100.

Question 16

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

Accepted Answer

The Format Painter tool allows you to copy formatting from one cell or range of cells and apply it to another cell or range of cells. It can be used to copy the format into multiple noncontiguous cells, as long as they are selected before double-clicking the Format Painter tool.

Question 17

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

Accepted Answer

The median is not the arithmetic average, it is the middle value when the set of numbers is arranged in ascending or descending order.

Question 18

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

Accepted Answer

The standard deviation measures the amount of variation or dispersion of a set of values from its mean or central value. It gives an idea of how spread out the values are from the average value. The smaller the standard deviation, the more closely packed the data points are around the mean, indicating less variability in the data.

Question 19

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

Accepted Answer

The formula rounds up to the next highest tenth, not just the next highest whole number. Therefore, rounding 3.432 up to 3.5 is correct.

Question 20

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

Accepted Answer

The Paste Special dialog box in many applications (like Microsoft Excel) offers more than three arithmetic operations for pasting values, including Add, Subtract, Multiply, and Divide.

Quiz 2: Solving Problems with Statistical Analysis Tools