Quantitative Methods for Business Exam Preparation Guide
Course Introduction
Quantitative Methods for Business introduces students to the essential quantitative tools and techniques used in analyzing and solving business problems. The course covers topics such as linear programming, decision analysis, forecasting, inventory models, and project management. Emphasizing practical application, it teaches students how to collect, analyze, and interpret data, enabling them to make informed business decisions. Through real-world case studies and hands-on exercises, students learn to use statistical and mathematical models to address challenges in areas like operations, finance, and marketing, thereby developing critical analytical and decision-making skills for the business environment.
Recommended Textbook
Exploring Microsoft Office Excel 2016 Comprehensive 1st Edition by Mary Anne
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13 Chapters
1301 Verified Questions
1301 Flashcards
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Chapter 1: Introduction to Excel
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Bottom Align is the default vertical alignment.
A)True
B)False Answer: True
Q2) Which of the following is not considered an Excel element?
A)Formula Bar
B)Name Box
C)Active cell
D)Print Preview
Answer: D
Q3) The default number format is ________.
A)Number
B)Left aligned
C)Two decimal places
D)General
Answer: D
Q4) It is always a good practice to test each formula you enter for accuracy.
A)True
B)False
Answer: True
Page 3
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Chapter 2: Formulas and Functions
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) What actually changes the value Excel stores to a user determined number of decimal places?
A)Decrease decimal setting
B)Increase decimal setting
C)ROUND function
D)DECIMAL function
Answer: C
Q2) The test in an IF function must evaluate to either a True or a False.
A)True
B)False
Answer: True
Q3) If you wanted to count the number of entries in a list that contained numbers, text, and blank cells, but ignore the text and blank cells, which function would you use?
A)COUNT
B)COUNTA
C)COUNTBLANK
D)COUNTIF
Answer: A
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Chapter 3: Charts
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) You cannot enter data or formulas on a chart sheet.
A)True
B)False
Answer: True
Q2) Once a data source is selected for a chart, the only way to change the data source is to start over creating the chart.
A)True
B)False
Answer: False
Q3) What font color does Excel use by default for many of its elements?
A)Black, Text 1
B)Black, Text 1, Darker 35%
C)Black, Text 1, Lighter 35%
D)Black, Text 1, Lighter 50%
Answer: C
Q4) If you are not sure which chart type to pick, it may be helpful to click ________ Charts in the Chart group.
Answer: Recommended
Q5) Excel uses ________ to determine what categories are visible in a chart.
Answer: chart filters, filters
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Chapter 4: Datasets and Tables
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) If you use the Icon sets conditional formatting, you are limited to how many categories?
A)One, two, or three
B)Two, three, or four
C)Three, four, or five
D)Four, five, or six
Q2) Excel indicates where page breaks will occur by placing temporary ________ (such as Page 1, Page 2)on your display.
Q3) When you set up various conditions with the purpose of only showing a subset of data, that process is called ________.
Q4) "John Smith" is a good example of a field.
A)True
B)False
Q5) If you wanted every cell that has a value over $1,251 to have a purple fill, you would use what feature in Excel?
A)Conditional formatting
B)AutoFill formatting
C)AutoComplete formatting
D)Aggregate Cell formatting
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Chapter 5: Subtotals, Pivottables, and Pivotcharts
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Which is not true of filters in a PivotTable?
A)Filters show a subset of the dataset.
B)Summary statistics do not change to reflect the values selected in the slicer.
C)You may apply filters on multiple fields.
D)An icon with a picture of a funnel appears when a PivotTable has a filter applied.
Q2) If you want to turn off grand totals for columns on a PivotTable, select this option in the Grand Totals options.
A)On for Rows Only
B)On for Columns Only
C)Off for Rows and Columns
D)On for Rows and Columns
Q3) In a PivotTable Fields task pane, the ________ filters the data to display results based on particular conditions you set.
Q4) A PivotTable can only display one summary statistic at a time.
A)True
B)False
Q5) A(n)________ is a collection of related tables forming a database.
Q6) A(n)________ hides some values from a field in a PivotTable.
Q7) A(n)________ quickly formats a PivotTable with bold, fonts, shading, headers.
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Chapter 6: What-If Analysis
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Sample Questions
Q1) A one-variable data table would be the appropriate what-if analysis tool to compare loans with variable time period and interest rates.
A)True
B)False
Q2) A(n)________ is a rule that Solver has to enforce to reach the objective value.
Q3) Solver has the ability to generate an answer report.
A)True
B)False
Q4) A(n)________ is a label for a cell or range of cells which can be used in formulas.
Q5) Solver is an Excel Add-in.
A)True
B)False
Q6) How many variables does Goal Seek change with each time it is run?
A)2
B)1
C)up to 3
D)unlimited
Q7) Scenario manager is on the ________ tab.
Page 8
Q8) ________ analysis enables you to compare how changes affect a related outcome.
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Chapter 7: Specialized Functions
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90 Flashcards
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Sample Questions
Q1) In database functions, <>, >, =, <, >= and <= are called ________.
Q2) What best describes a criteria range?
A)The table upon which a filter is applied
B)The group of adjacent cells that specifies the conditions used to control the results of a filter
C)The filtered range of cells
D)The copied range of cells
Q3) If you have 3 possible outcomes in a nested IF statement, then you need ________ logical tests.
Q4) Which of the following is not an argument in a Database function?
A)Database
B)Criteria
C)Filter
D)Field
Q5) The EOMONTH function returns the last day of the month of the specified number of months from a given date.
A)True
B)False
Q6) The ________ function returns the position of a value.
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Q7) The criteria range must contain ________ at least rows in Advanced Filtering.
Chapter 8: Statistical Functions
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Sample Questions
Q1) The simplest method of creating a ________ is with the Analysis Toolpak
A)frequency chart
B)histogram
C)standard deviation
D)distribution chart
Q2) Correlation is a tool included on the Analysis ToolPak.
A)True
B)False
Q3) In SUMIF, AVERAGEIF, and COUNTIF functions using text criteria, enclose the criteria in:
A)**
B)<>
C)##
D)""
Q4) STDEV.S calculates the standard deviation of a sample.
A)True
B)False
Q5) The arguments for COUNTIFS, SUMIFS, AVERAGEIFS are Range and Criteria.
A)True
B)False
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Chapter 9: Multiple-Sheet Workbook Management
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Sample Questions
Q1) To setup Split Windows, Synchronous Scrolling or Arrange open workbooks, go to the Window Group in the ________ tab.
Q2) ________ locks 2 windows together and enables you to view them line by line as you scroll through them.
Q3) What happens to an open destination file if the source file is edited while both are open?
A)The source file receives an error.
B)The destination asks if you would like to accept updates to the source file.
C)The destination file updates
D)Antivirus software blocks the changes.
Q4) You can apply uniform page layouts to grouped worksheets.
A)True
B)False
Q5) Hyperlinks can be used to build a table of contents in an Excel workbook with many worksheets.
A)True
B)False
Q6) A(n)________ error alert accepts invalid data but provides information to the user.
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Chapter 10: Imports, Xml, and Power Add-Ins
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Sample Questions
Q1) A company changes name from Wally's Widgets to Wally's Wonders.Which function would change all Wally's Widgets to Wally's Wonders?
A)SUBSTITUTE
B)TRIM
C)MID
D)LEFT
Q2) Importing XML data into Excel enables you to maintain a link and ________ data.
Q3) Which of the following are settings that control how imported data in cells connect to their source data?
A)Import settings
B)Data range properties
C)Link settings
D)Data Control settings
Q4) ________are data fields and tables added to the Power View canvas.
Q5) The true benefit of Power Query is in its ability to manipulate the data before importing it into Excel.
A)True
B)False
Q6) The ________ function will change JILL JONES to jill jones.
Page 12
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Chapter 11: Collaboration and Workbook Distribution
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Sample Questions
Q1) A(n)________ is a note to a collaborator containing questions or suggestions about the workbook.
Q2) Use the ________ command to combine multiple versions of shared workbooks into one workbook so that you can compare the changes to decide which ones to keep.
Q3) Use the ________ to make sure your files are backwardly compatible.
Q4) A(n)________ is a workbook that can be viewed and edited simultaneously by multiple users.
Q5) A file with an .ods extension is ________.
A)Macro-Enabled
B)Binary
C)OpenDocument spreadsheet
D)Portable Document Format
Q6) If you send an email link to a workbook, the recipients of the file have access to change the original file on your computer.
A)True
B)False
Q7) Shared workbooks must be in read-only network drives.
A)True
B)False
13
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Chapter 12: Templates, Styles, and Macros
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Sample Questions
Q1) Select ________ in Backstage view to access the Template Gallery.
Q2) Which of the following is false about a VBA object?
A)Contains data
B)Contains code
C)Starts with '
D)Represents a Range
Q3) Custom Functions are recorded in the macro recorder.
A)True
B)False
Q4) A forgotten ________ in Excel is unrecoverable.
Q5) Excel has no method of stopping macro viruses.
A)True
B)False
Q6) Themes alter formulas.
A)True
B)False
Q7) The Macro Recorder uses absolute references by default.
A)True
B)False
Q8) ________ is the file extension for Macro-Enabled Workbooks.
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Chapter 13: Appendix: Exploring Microsoft Office Excel 2016
Comprehensive Poatsygrauer
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) Portrait orientation
A)Duplicates a selection from the original location and places a copy in the Office Clipboard
B)Removes a selection from the original location and places it in the Clipboard
C)Page that is wider than it is tall
D)Page that is taller than it is wide
E)Places a selection in the Clipboard into another location
Q2) The status bar identifies the current file name and the application in which you are working.
A)True
B)False
Q3) A ________ contains groups of commands related to the selected object.
A)Ribbon
B)contextual tab
C)status bar
D)title bar
Q4) Using the ________ gives you access to the most common formatting selections, such as adding bold or italic, or changing font type or color.
Q5) The mouse shortcut for selecting a word is to ________ the word.
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