MSIS 3223 - Exam 1 (Chapters 1-4) Questions and
Answers 100% Correct.
Cell references - correct answer _____ in formulas can be written with either
relative addresses or absolute addresses.
Relative - correct answer A(n) _____ address uses just the row and column label
in the cell reference (for example A4 or C23).
Absolute - correct answer A(n) _____ address uses a dollar sign ($) before either
the row or column or both ($A2, C$23, or $B$15).
B$4 - correct answer Using a dollar sign ($) before a row label (for example _____)
keeps the reference fixed to row 4 but allows the column reference to change if
the formula is copied to another cell.
$B$4 - correct answer Using a dollar sign ($) before both the row and column (for
example _____) will keep the reference fixed for both the row and column.
Insert - correct answer The easiest way to locate a particular function is to select
a cell and click the _____ function button (fx) which can be found under the
ribbon next to the formula bar.
,MIN(range) - correct answer Function in Excel:
finds the smallest value in a range of cells.
MAX(range) - correct answer Function in Excel:
finds the largest value in a range of cells.
SUM(range) - correct answer Function in Excel:
finds the sum of values in a range of cells.
AVERAGE(range) - correct answer Function in Excel:
finds the average of the values in a range of cells.
COUNT(range) - correct answer Function in Excel:
finds the number of cells in a range that contains numbers.
COUNTIF(range, criteria) - correct answer Function in Excel:
finds the number of cells within a range that meet a specified criterion.
Net Present Value (NPV) - correct answer Measures the worth of a stream of cash
flows, taking into account the time value of money.
, Discount Rate - correct answer The _____ reflects the opportunity costs of
spending funds now versus achieving a return through another investment, as
well as the risks associated with not receiving returns until a later time.
positive NPV - correct answer A _____ means that the investment will provide
added value because the projected return exceeds the discount rate.
Descriptive Analytics - correct answer The most commonly used and most-well
understood type of analytics. Summarizes data into meaningful charts & reports,
for example, about budgets, sales, revenues, or cost.
Predictive Analytics - correct answer Seeks to predict the future by examining
historical data, detecting patterns or relationships in these data, & then
extrapolating these relationships forward in time.
Prescriptive Analytics - correct answer Uses optimization to identify the best
alternatives to minimize or maximize some objective.
decision - correct answer Many _____ models can be formalized using a model.
Model - correct answer A _____ is an abstraction or representation of a real
system, idea, or object. They capture the most important feature of a problem &
present them in a form that is easy to interpret.
Answers 100% Correct.
Cell references - correct answer _____ in formulas can be written with either
relative addresses or absolute addresses.
Relative - correct answer A(n) _____ address uses just the row and column label
in the cell reference (for example A4 or C23).
Absolute - correct answer A(n) _____ address uses a dollar sign ($) before either
the row or column or both ($A2, C$23, or $B$15).
B$4 - correct answer Using a dollar sign ($) before a row label (for example _____)
keeps the reference fixed to row 4 but allows the column reference to change if
the formula is copied to another cell.
$B$4 - correct answer Using a dollar sign ($) before both the row and column (for
example _____) will keep the reference fixed for both the row and column.
Insert - correct answer The easiest way to locate a particular function is to select
a cell and click the _____ function button (fx) which can be found under the
ribbon next to the formula bar.
,MIN(range) - correct answer Function in Excel:
finds the smallest value in a range of cells.
MAX(range) - correct answer Function in Excel:
finds the largest value in a range of cells.
SUM(range) - correct answer Function in Excel:
finds the sum of values in a range of cells.
AVERAGE(range) - correct answer Function in Excel:
finds the average of the values in a range of cells.
COUNT(range) - correct answer Function in Excel:
finds the number of cells in a range that contains numbers.
COUNTIF(range, criteria) - correct answer Function in Excel:
finds the number of cells within a range that meet a specified criterion.
Net Present Value (NPV) - correct answer Measures the worth of a stream of cash
flows, taking into account the time value of money.
, Discount Rate - correct answer The _____ reflects the opportunity costs of
spending funds now versus achieving a return through another investment, as
well as the risks associated with not receiving returns until a later time.
positive NPV - correct answer A _____ means that the investment will provide
added value because the projected return exceeds the discount rate.
Descriptive Analytics - correct answer The most commonly used and most-well
understood type of analytics. Summarizes data into meaningful charts & reports,
for example, about budgets, sales, revenues, or cost.
Predictive Analytics - correct answer Seeks to predict the future by examining
historical data, detecting patterns or relationships in these data, & then
extrapolating these relationships forward in time.
Prescriptive Analytics - correct answer Uses optimization to identify the best
alternatives to minimize or maximize some objective.
decision - correct answer Many _____ models can be formalized using a model.
Model - correct answer A _____ is an abstraction or representation of a real
system, idea, or object. They capture the most important feature of a problem &
present them in a form that is easy to interpret.
