Chapter 2 - Solving Problems with Statistical Analysis Tools

Question 1

What is the arithmetic average of a set of numbers?

Answer 1

The mean

Question 2

What is the value in the middle?

Answer 2

The median

Question 3

Which statistics fundamental occurs most frequently?

Answer 3

Mode

Question 4

What is an indicator of how close together the values of a distribution are?

Answer 4

Standard deviation

Question 5

What indicates that the mean, median, and mode are the same value?

Answer 5

Normal distribution

Question 6

What is a distribution skewed?

Answer 6

When the mean, median, and mode aren’t the same value

Question 7

Which function changes the precision of data values stored?

Answer 7

The Round function

Question 8

What is the format of the Round function?

Answer 8

=ROUND(number,num_digits)

Question 9

Which function rounds a number down to the specific number of decimal places?

Answer 9

ROUNDDOWN(number,num_digits)

Question 10

Which function rounds a number up to the next highest even integer?

Answer 10

EVEN(number)

Question 11

Which function rounds a number up to the next highest odd integer?

Answer 11

ODD(number)

Question 12

Which function rounds a number down to the nearest integer?

Answer 12

INT(number)

Question 13

What is the format of the Mode function?

Answer 13

MODE.SNGL(range)

Question 14

What is the format of the Standard deviation function?

Answer 14

STDEV.S(range)

Question 15

List 2 ways that you can manage large worksheets

Answer 15

1. Freezing panes

2. Splitting the window

Question 16

Which feature keeps titles displayed in the top pane while we scroll down the worksheet?

Answer 16

Freezing panes

Question 17

Which feature allows you to scroll each portion individually, top/bottom and left/right, with separate scroll bars?

Answer 17

Splitting the window

Question 18

Which worksheet places current values and historical values on a separate worksheet, side by side?

Answer 18

The comparison worksheet

Question 19

What is a new contextual tool that enables easy access to data-analysis features?

Answer 19

Quick analysis

Question 20

Which function allows a list to be sorted, then counts the number of entries either above or below the value in question?

Answer 20

The RANK.EQ function

Question 21

What is the format of the RANK.EQ function?

Answer 21

=RANK.EQ(number,ref,[order])

Question 22

True or False:

If the RANK.EU’s order argument is 0 or left blank, the values are ranked in descending order

Answer 22

True

Question 23

True or False:

If the RANK.EU’s order argument is a positive number, the values are ranked in ascending order

Answer 23

True

Question 24

Which function determines the nth largest value in a range?

Answer 24

The Large function

LARGE(range,cell that holds rank)

Question 25

Which function determines the nth smallest value in a range?

Answer 25

The Small function

SMALL(range,cell that holds rank)

Question 26

Which function counts the number of items in a range that meet specified criteria?

Answer 26

The COUNTIF function

COUNTIF(range,criteria)

Question 27

Which function do you use to add all values in a range that meet the specified criteria?

Answer 27

The SUMIF function

SUMIF(range,criteria,sum_range)

Question 28

Which argument identifies the corresponding cell range to sum if specified criteria have been met in the range established by the range argument?

Answer 28

The sum_range argument

Question 29

What determines the outcome of changing one or more input values and evaluates the recalculated results?

Answer 29

What-if analysis

Question 30

Which tool specifies the outcome you want and which input value you want to vary?

Answer 30

The goal seek tool

Question 31

List 2 limitations of the goal seek tool

Answer 31

1. It only allows you to vary a single output

2. The input must be a constant value

Question 32

What is an analytical method that creates artificially generated data to imitate real data?

Answer 32

A simulation

Question 33

Which function do you use to randomly assign a number between two values?

Answer 33

The RANDBETWEEN function

RANDBETWEEN(bottom,top)

Question 34

Which function do you use to calculate probable costs?

Answer 34

The ROUND function

Question 35

Which function do you use to assign a random value?

Answer 35

The RAND function