17 Questions
What is a function in Excel?
A named operation that returns a value
How are values passed to a function in Excel?
As parameters enclosed in brackets
What is the key difference between a value and a parameter in Excel functions?
Values are static while parameters can change
In Excel, what does the term 'Maximin' refer to?
A modeling approach to problem solving
Which of the following best describes the purpose of using functions in Excel?
To automate repetitive tasks and perform calculations
What is the purpose of Data Delivery functions in Excel?
Verifying data and delivering it from one point to another
In Excel, which function is used to filter and deliver unique values from a list?
Filter Unique Values function
Where are the compare values located in a lookup table?
In the first column or row
Which parameter in VLOOKUP and HLOOKUP functions is optional?
Range_lookup
What is the default assumption for the range_lookup parameter in VLOOKUP and HLOOKUP functions?
Closest match to the compare value
What does setting the range_lookup parameter to FALSE in VLOOKUP and HLOOKUP functions indicate?
You want an exact match to the compare value
What is the correct syntax for the AVERAGE function in Excel?
=AVERAGE(number1,number2,..)
Which function in Excel calculates the Pearson correlation coefficient?
=PEARSON(number1,number2,..)
What does the STDEV function do in Excel?
Calculates the standard deviation of a range of numbers
Why is it recommended to keep formulas simple in Excel?
To improve readability and ease of understanding
What is a good practice when using Excel functions?
Break formulas into smaller parts for better clarity
Which Excel function should be used to find the maximum value in a range of cells?
=MAX(range)
Learn about using formulas and functions in Excel for problem solving in business applications. Topics include Excel functions, data management tips, modeling approaches like Maximin, Maximax, and EMV metrics, and working on lab exercises.
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