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Exam 3: Working With Formulas and Functions

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Question 51

Multiple Choice

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-Referring to the figure above,the Home Loan Calculator uses the ____ function.

A) SUM
B) MAX
C) LOAN
D) PMT

E) A) and B)
F) A) and C)

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Question 52

Multiple Choice

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The ____ is most often used with data that has only a few possible values.

A) mode
B) median
C) middle
D) sum

E) None of the above
F) A) and D)

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Question 53

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Case-Based Critical Thinking Questions Case 3-1 Charles is a recent college graduate.He is paying rent for the first time,as well as utility bills,such as cable,electric,and telephone.He also has some hefty school loan payments.Charles has a good paying job and knows that even though he has lots of expenses,it is critical for him to save money each month,too.He decides to create a budget for himself in Excel 2010. -Charles's cable bill varies from month to month due to special sporting events he purchases.He wants to calculate the total cable expenses for one year.He wants to see all of the arguments associated with the SUM function so he clicks the ____.

If you wanted to find the correct function for this worksheet,you would look in the ____ category of functions.

-Referring to the figure above,the monthly payment is expressed as a negative value (because Excel treats it as ____) .

The Function Library is a group on the Ribbon.

____ arguments may provide more control over the returned value.

The FV function stands for ____.

Case-Based Critical Thinking Questions Case 3-1 Charles is a recent college graduate.He is paying rent for the first time,as well as utility bills,such as cable,electric,and telephone.He also has some hefty school loan payments.Charles has a good paying job and knows that even though he has lots of expenses,it is critical for him to save money each month,too.He decides to create a budget for himself in Excel 2010. -Charles wants to add color only to those cells with a negative balance.He would accomplish this by using ___ formatting.

The numbers,text,or cell references used by the function to return a value are called ____.

=INT(AVERAGE(A1:A100) ) is an example of a(n) ____ function.

The PMT function is a(n) ____ function.

Absolute references are marked with a ____.

Every function has to follow ____.

____________________ can also be used to create a series of numbers,dates,or text based on a pattern.

Case-Based Critical Thinking Questions Case 3-2 Pamela is getting ready to purchase her first condominium.To get ready for the mortgage process,she gathers her Excel spreadsheets that contain all of her financial information. -Pamela needs to borrow $30,000 as a down payment for her condominium.This amount will be the ____.

As you begin to type a function name within a formula into a cell,a list of functions that begin with the letters you typed appears.

Which of the following is not an Excel function category? ____

>= is a(n) ____ operator.

The Rand( )function falls under the Statistical category.