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Free Excel Test – What-If Analysis – Excel 2010 Training

# What-If Analysis Excel Test

## Free Online Microsoft Excel Test Excel 2010 Training – Working with Data

### What-If Analysis Excel Test

1) Study the screenshot above.  After doing her budget, Lucy realizes that she cannot pay more than \$3,850 per month (Monthly Payment) towards a new apartment.  Which ANALYTICAL function could she utilize to calculate her new loan amount based on the screenshot above?
a) She could use the Solver function.
b) She could use the What-If Analysis function.
c) She could use the Goal Seek function.
d) She could use the Data Table function.

2) Adam is searching for the Solver function but cannot find it anywhere, not even under the Data tab on the Ribbon.  Where could he find it?
a) If it is not on the Ribbon, it has not been activated.  He needs to activate it under Add-Ins in the Excel Options dialog box.
b) It is not under the Data tab, it is a formula.  He needs to look under the Formula tab on the Ribbon in the Add-Ins group.
c) It is not a function that is usually displayed on the Ribbon.  He can add it to the Ribbon as a macro function.
d) Solver is a separate program.  He needs to launch it from his operating system’s Start menu.

3) Study the screenshot above.  After working out her budget, Casey realizes that her expenses at \$3,960 are far above her income of \$2850.  She wants to modify her budget by reducing all her non-essential budget items.  Which analytical tool could she use to achieve this?
a) Goal Seek will allow her to change her total expenses by modifying all the cells she specifies which contain non-essential items.
b) Data tables will allow her to change all the amounts to fit in with her income.
c) She could use Solver to change her total expenses by modifying all the cells she specifies which contain non-essential items.
d) She could use the PMT function to calculate her monthly budget payments and exclude non-essential items.

4) Study the screenshot above.  Continuing from Casey’s budget pictured above question 3, what number should be entered in the Value Of: box circled in yellow in the screenshot above?
a) 3960
b) 10
c) 2850
d) 1

5) When you use Solver, there are several Solving method options you can choose from, depending on your calculation needs.  Which of the following is NOT an available Solving Method?
a) GRG Non-Linear
b) Sum-Product
c) Simplex LP
d) Evolutionary

6) Where is the Goal Seek function located?
a) Under the Goal tab on the Ribbon.
b) Under the Data tab on the Ribbon.
c) Under the Formulas tab on the Ribbon.
d) Under the Insert tab on the Ribbon.

7) Study the screenshot above.  Which analytical tool can be used to quickly create this list of values for monthly payments based on the variables provided?
a) The Solver Utility.
b) The Goal Seek function.
c) A two-variable data table.
d) A one-variable data table.

8) Where will you find the Data Table function?
a) Under the Insert tab, in the Tables group, select Table.
b) Under the Insert tab, in the Tables group, select Pivot Table.
c) Under the Data tab, in the Analysis group, select Data Table.
d) Under the Data tab, in the Data Tools group, select What-If-Analysis and Data Table.

9) What is the maximum number of cells you can select for the Set Objective variable in the Solver Parameters dialog box?
a) You can select only a single cell for the Set Objective variable.
b) You can select up to three cells for the Set Objective variable.
c) You can select any number of cells for the Set Objective variable.
d) You can select as many active cells as a worksheet contains for the Set Objective variable.

10) Study the screenshot above paying careful attention to the PMT formula in the formula bar.  In order to create a data table, which cell reference(s) should be inserted in the boxes in the Data Table dialog box (circled in yellow)?
a) Cell B3 in the Row input cell box and A3 in the Column input cell box.
b) Cell E3 in the Row input cell box and E2 in the Column input cell box.
c) Cell E3 in the Column input cell box.
d) Cell B3 in the Row input cell box.