C268 Spreadsheets Practice Test QUESTIONS WITH VERIFIED ANSWERS

C268 Spreadsheets Practice Test QUESTIONS WITH
VERIFIED 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


In the "Event Profitability Analysis" section of the model, enter the projected sales for each
product type for this event by referencing your sales forecast from the "Input Analysis" section
of the model. - ✔✔=I16 (calculated previously)


Calculate the cost of goods sold (COGS) for each product. The COGS is calculated as the sales for
each product type times the COGS percentage from the "Model Inputs" section of the model
for that product type. - ✔✔=C15*C4 (gross profit * COGS %)


Calculate the gross profit for each product. The gross profit is calculated as the sales minus the
COGS for each product. - ✔✔=C15-C16


Which product generates the largest gross profit? Select the correct answer from the drop-
down list in cell L38. - ✔✔Merchandise (line 17)


Calculate the commissions paid for each product type. The commissions paid are calculated as
the expected sales for each product type times the commission percentage from the "Model
Inputs" section of the model. - ✔✔=C15*C5 (sales & commission %)