C268 Exam Review Questions with Correct
Answers
In the "Input Analysis" section of the spreadsheet model, calculate the average
attendance and sales for each type of product from the past events listed in the "Past
Events" worksheet.
=AVERAGE('Past Events'!C4:C103) for each column
In the "Input Analysis" section of the spreadsheet model, calculate the sample standard
deviation for attendance and sales for each type of product from the past events listed
on the "Past Events" worksheet. (Note for Excel 2007 users: Excel 2007 does not
support a specific function to calculate sample standard deviations. Use the STDEV
function instead.)
=STDEV.S('Past Events'!C4:C103) for each column
In the "Input Analysis" section of the spreadsheet model, calculate the 95% confidence
interval for the sales for each type of product. (You will not calculate a confidence
interval for attendance.) Use the number of events (calculated in cell I3) as part of your
calculations. (Note to Excel 2007 users: the CONFIDENCE.NORM function is not
supported in Excel 2007. Use the CONFIDENCE function instead.)
=CONFIDENCE.NORM(0.05,J7,$I$3)
In the "Input Analysis" section of the spreadsheet model, calculate the correlations
between the sales of each type of product and event attendance. Use appropriate ranges
from the "Past Event" worksheet for your calculations.
=CORREL('Past Events'!$C$4:$C$103,'Past Events'!D4:D103)
, The sales for which product type are most highly correlated with attendance? Select the
correct answer from the drop-down list in cell L32.
Food (highest correlation number)
In the "Input Analysis" section of the spreadsheet model, calculate a sales forecast for
each type of product if expected attendance at the future event is 18000 people.
Reference cell I13 (the attendance forecast) for your calculations.
=FORECAST($I$13,'Past Events'!D4:D103,'Past Events'!$C$4:$C$103)
In the "Input Analysis" section of the spreadsheet model, calculate the upper limit for
your sales forecast for each type of product if expected attendance at the future event is
18000 people. Reference the confidence interval you created for your calculation.
=I16+J8
(sales forecast + 95% confidence interval)
In the "Input Analysis" section of the spreadsheet model, calculate the lower limit for
your sales forecast for each type of product if expected attendance at the future event is
18000 people. Reference the confidence interval you created for your calculation.
=I16-J8
(sales forecast - 95% confidence interval)
How likely is it that food sales would exceed $220,000 if attendance is 18,000 people?
Select the correct answer from the drop-down list in cell L35.
<5% chance
Answers
In the "Input Analysis" section of the spreadsheet model, calculate the average
attendance and sales for each type of product from the past events listed in the "Past
Events" worksheet.
=AVERAGE('Past Events'!C4:C103) for each column
In the "Input Analysis" section of the spreadsheet model, calculate the sample standard
deviation for attendance and sales for each type of product from the past events listed
on the "Past Events" worksheet. (Note for Excel 2007 users: Excel 2007 does not
support a specific function to calculate sample standard deviations. Use the STDEV
function instead.)
=STDEV.S('Past Events'!C4:C103) for each column
In the "Input Analysis" section of the spreadsheet model, calculate the 95% confidence
interval for the sales for each type of product. (You will not calculate a confidence
interval for attendance.) Use the number of events (calculated in cell I3) as part of your
calculations. (Note to Excel 2007 users: the CONFIDENCE.NORM function is not
supported in Excel 2007. Use the CONFIDENCE function instead.)
=CONFIDENCE.NORM(0.05,J7,$I$3)
In the "Input Analysis" section of the spreadsheet model, calculate the correlations
between the sales of each type of product and event attendance. Use appropriate ranges
from the "Past Event" worksheet for your calculations.
=CORREL('Past Events'!$C$4:$C$103,'Past Events'!D4:D103)
, The sales for which product type are most highly correlated with attendance? Select the
correct answer from the drop-down list in cell L32.
Food (highest correlation number)
In the "Input Analysis" section of the spreadsheet model, calculate a sales forecast for
each type of product if expected attendance at the future event is 18000 people.
Reference cell I13 (the attendance forecast) for your calculations.
=FORECAST($I$13,'Past Events'!D4:D103,'Past Events'!$C$4:$C$103)
In the "Input Analysis" section of the spreadsheet model, calculate the upper limit for
your sales forecast for each type of product if expected attendance at the future event is
18000 people. Reference the confidence interval you created for your calculation.
=I16+J8
(sales forecast + 95% confidence interval)
In the "Input Analysis" section of the spreadsheet model, calculate the lower limit for
your sales forecast for each type of product if expected attendance at the future event is
18000 people. Reference the confidence interval you created for your calculation.
=I16-J8
(sales forecast - 95% confidence interval)
How likely is it that food sales would exceed $220,000 if attendance is 18,000 people?
Select the correct answer from the drop-down list in cell L35.
<5% chance
