IT Business (Lab) MS Excel Answer
IT Business (Lab) MS Excel Answer
Business– Lab
Lesson 7 – MS Excel
Level 3
Course objectives
After you complete this course, you will know how to:
▪ Use function to make decisions and to return
information from arrays and tables
▪ Find and trap errors, control formula options, and use
array formulas and functions
▪ Perform calculations on dates, manipulate text, and
about some statistical and financial functions
▪ Import or create a connection to external data, and
export Excel worksheets to other formats
▪ Perform what-if analyses by using scenarios and the
Goal Seek utility, and about some of the tools available
in the Analysis Toolpak.
▪ Record and run macros, and how to create a simple
form.
Answer:
Chapter 1: Logical and Lookup Functions
A. True
B. False
Answer:
Assessment: Decision-making functions
2. You can use another IF function as the
value_if_true argument of an IF function,
but not as the value_if_false argument. True
or false?
A. True
B. False
Answer:
Assessment: Decision-making functions
3. Which of the following are differences between
SUMIF and SUMIFS? Choose all correct answers.
Answer:
Module B: Lookup and reference functions
A. True
B. False
Answer:
Assessment: Lookup and reference functions
A. INDEX
B. LOOKUP
C. MATCH
Answer:
Assessment: Lookup and reference functions
A. True
B. False
Answer:
Summary: Logical and lookup functions
You should now know:
▪ About using functions to make decisions, how to
use the IF function to return different values,
depending on whether a condition is true; how to
nest IF functions, or use AND or OR to make
more complex decisions; and how to use SUMIF
and SUMIFS to calculate sums according to
criteria
▪ About how lookup function work, how to use
VLOOKUP to return a value from a table based on
a lookup value, and how to use MATCH and
INDEX to find the location of a value in a table
and then return that value
Synthesis: Logical and lookup functions
Synthesis: Logical and lookup functions
Chapter 2: Advanced Formulas
You will learn:
▪ About formulas auditing features, and
how to find errors in your formulas
▪ How to control formula options
▪ How to use array functions to streamline
workbooks and save resources
Module A: Auditing and error-trapping
You will learn how to:
▪ Trace precedent and dependent cells for a
formula
▪ Find and correct the source of errors in a
formulas
▪ Evaluate a formula to understand what it
does
▪ Use IFERROR to display a value if a formula
produces an error
Precedents and Dependents
Showing precedent and dependent relationships
Showing precedent and dependent relationships
Tracing and correcting errors
Tracking and correcting a formula error
Error-trapping
Untrapped error Trapped error
Evaluating formulas
The Evaluate Formula window:
Using IFERROR
Building an IFERROR function
Assessment: Auditing and error-trapping
A. True
B. False
Answer:
Assessment: Auditing and error-trapping
8. Which of the following are ways to find and
fix errors? Choose all that apply.
Answer:
Assessment: Auditing and error-trapping
A. True
B. False
Answer:
Module B: Formula options
You will learn:
▪ About calculation and iteration, and how
to control both
▪ How to display formulas
Changing when a workbook recalculates
A. True
B. False
Answer:
Assessment: Formula options
11. By default, Excel tries to calculate a
circular reference indefinitely. True or false?
A. True
B. False
Answer:
Module C: Arrays
You will learn:
▪ About arrays, and the various ways in
which Excel uses them
▪ How to enter an array formula to perform
more than one calculation with a single
formula
▪ How to enter an array function
About Arrays
Array formulas
Using an array formula to calculate invoice totals
Array functions
Assessment: Arrays
12. Array formulas must be entered in more
than one cell. True or false?
A. True
B. False
Answer:
Assessment: Arrays
13. Which of the following is the keyboard
method for entering an array formula? Choose
the one correct answer.
A. Ctrl+Enter
B. Shift+Enter
C. Ctrl+Shift+Enter
D. Ctrl+Alt+Enter
Answer:
Summary: Advanced formulas
You should now know:
▪ About formula auditing features, including
how to trace precedents and dependents,
how to find errors in your formulas by tracing
them and evaluating formulas, and how to
trap errors by using IFERROR
▪ How to control formula options such as
calculation and iteration, and how to display
formulas
▪ About arrays, and how to use array formulas
and functions to perform multiple calculations
on multiple ranges using a single formula
Synthesis: Advanced formulas
Chapter 3: Special Functions
You will learn:
▪ How to use date and time functions
▪ How to manipulate text with functions
▪ About some of Excel's statistical and
financial functions
Module A: Date and time functions
You will learn:
▪ How to manipulate dates to give you
information about the year, month, day, or
day of the week
▪ How to calculate days or workdays
between two dates, and how to calculate
an end date given a start date and a
number of workdays
Getting information from a date
Working with and converting dates
Using date calculation functions
Performing calculations using date functions
Time
Performing simple time calculations
Assessment: Date and time functions
14. In Excel, dates begin with January 1,
1900. True or false?
A. True
B. False
Answer:
Assessment: Date and time functions
15. Which of the following functions would you
use to return the name of a month for a date?
Choose the one correct answer.
A. DATE
B. MONTH
C. TEXT
D. EOMONTH
Answer:
Assessment: Date and time functions
16. Which function would you use if you want the
number of workdays between two dates in a
location where the work week has 6 days? Choose
the one correct answer.
A. NETWORKDAYS
B. NETWORKDAYS.INTL
C. WORKDAYS
D. WORKDAYS.INTL
Answer:
Assessment: Date and time functions
17. Times are stored as numbers between 0
and 24. True or false?
A. True
B. False
Answer:
Module B: Text functions
You will learn how to:
▪ Combine and trim text values using text
functions
▪ Get information out of a text value by
using text functions
Combining and trimming text
Exercise: Combining and trimming text
Extracting text
Getting information about text
Extracting part of a text string
Extracting part of a text string
Assessment: Text functions
What would be the result of the function
CONCATENATE("My","Name")? Choose the one
correct answer.
▪ my name
▪ My Name
▪ myname
▪ MyName
Answer:
Assessment: Text functions
18. The LEFT, RIGHT, and MID functions all
take the same arguments. True or false?
A. True
B. False
Answer:
Assessment: Text functions
19. The LEN function takes only a single
argument, a text string. True or false?
▪ True
▪ False
Answer:
Module C: Other functions
You will learn:
▪ How to view a category of functions
▪ About statistical functions and how to use
MEDIAN and STDEV.P
▪ About financial functions and how to use
FV
Statistical functions
▪ COUNT and COUNTA, which return the
count of cells containing numbers and
non-blanks, respectively.
▪ FORECAST, which returns a value
projected along a linear trend.
▪ MAX and MIN, which return the maximum
and minimum values for a set.
▪ RANK.AVG, which returns the ranking of a
value within a set.
Using MEDIAN and STDEV.P
Calculating AVE, MED and STDEV.P
Using Count and CountA
Using FV
A. COUNT
B. COUNTA
Answer:
Assessment: Other functions
21. The FV function can be used to calculate
future values of both investments and loans.
True or false?
A. True
B. False
Answer:
Summary: Special functions
You should now know:
▪ About how Excel handles dates and times,
how to use functions to get information about
dates, and how to calculate dates and times
▪ How to use functions to combine, trim, or get
information from text values
▪ About some of Excel's statistical functions,
and how to use the MEDIAN and STDEV.P
functions
▪ About Excel's financial functions, and how to
calculate future value of an investment or load
using FV
Synthesis: Special functions
Chapter 4: Importing and exporting
You will learn:
▪ About working with data from other
sources in Excel, and the purpose of cube
functions
▪ How to export Excel workbooks to various
formats, and why you would use them
Module A: External data
You will learn:
▪ How to import data from a text file into
Excel
▪ How to get external data from a Microsoft
Access database
▪ How to get stock information as external
data
▪ About using PowerPivot to process
external data
External connections
Getting external data
Assessment: External data
22. The only text files that can open in Excel
are ones that are structured with delimiters.
True or false?
▪ True
▪ False
Answer:
Assessment: External data
23. Which of the following are data sources for
which you can create external connections? Choose
all that apply.
A. Microsoft Word
B. SQL databases
C. Web queries
D. Text files
E. Microsoft Access
Answer:
Assessment: External data
24. All data you import into Excel is linked to
its source. True or false?
A. True
B. False
Answer:
Module B: Exporting data
You will learn:
▪ About using Save As to export data in
various formats
▪ How to save worksheets as text files
Export formats
XML Data Preserves structure and data. Can be read by
many programs.
Web page A file that can be viewed in web browsers.
Text Excel can save a worksheet as a tab-
delimited file, a comma-separated filed
(CSV), or a structured text file (space
delimited).
PDF or XPS Do not allow interactions but can be viewed
by anyone with a viewer.
Open An open-source document format.
Document
Spreadsheet
Assessment: Exporting data
25. Which format should you save to if you want
the greatest number of users to be able to see your
formatting worksheet, regardless of the programs
they have on their computer? Select the one best
answer.
Answer:
Assessment: Exporting data
26. Which format should you save to if you want
users of database programs to be able to easily
import the data and structure of your
worksheet? Select the one best answer.
A. XPS
B. CSV (Comma delimited)
C. XML
Answer:
Summary: Importing and exporting
You should now know:
▪ About working with data from other sources
in Excel, including how to import, structure,
and format text files; how to get and manage
external data connections; about importing
XML data; and about the purpose of cube
functions
▪ How to export Excel workbooks to various
formats, especially text formats such as CSV,
and why you would use different export
formats
Synthesis: Importing and exporting
Chapter 5: Analysis
You will learn:
▪ How to perform what-if analysis using
scenarios and Goal Seek
▪ About the Analysis Toolpak and the tools it
provides for analyzing data
Module A: What-if analysis
You will learn how to:
▪ Use a watch window to observe formula
values change as you change precedent
cells
▪ Use scenarios to observe how different
sets of input values affect worksheet
outcomes
▪ Use Goal Seek to find input values
according to a desired formula outcome
Scenarios
Performing what-if analysis on a budget
Using Goal Seek
A. Workbook
B. Sheet
C. Number format
D. Value
E. Formula
Answer:
Assessment: What-if analysis
28. To add a scenario, you must select the
input range before opening the Scenario
Manager. True or false?
▪ True
▪ False
Answer:
Assessment: What-if analysis
29. Which method would you use to figure out
how many of an item to order if you have a
budget and know the unit cost? Choose the best
answer.
A. Scenarios
B. Goal Seek
C. Solver
Answer:
Module B: The Analysis Toolpak
You will learn:
▪ About the Analysis Toolpak, and how to
load its add-in
▪ How to use the Analysis Toolpak to
calculate the Pearson correlation
coefficient for two-variable data
▪ How to use the Analysis Toolpak to create
a histogram for a set of data
About the Analysis Toolpak
Correlation Shows how closely two variables are
related.
Covariance The relationship between two sets of data.
Exponential Smooths out peaks and valleys in data so
Smoothing you can recognize trends.
Histogram A chart that shows how many data points
fall into each of several categories.
Moving Average Smooths out irregularities in a data set.
Regression A process for estimating the relationship
between a dependent variable and one or
more independent variables.
Analyzing correlation between two data sets
Creating a histogram
Assessment: The Analysis Toolpak
30. The Analysis Toolpak is available
immediately with a default installation of
Excel. True or false?
A. True
B. False
Answer:
Assessment: The Analysis Toolpak
31. Which of the following statements is most
accurate in regard to correlation?
Answer:
Assessment: The Analysis Toolpak
32. The Histogram tool will set up your bins
for you. True or false?
A. True
B. False
Answer:
Summary: Analysis
You should now know:
▪ How to perform what-if analysis by using a
watch window, how to use scenarios to save
and switch between different sets of input
values for a worksheet, and how to use Goal
Seek to solve for an input value when you
have a desired outcome for a formula
▪ About the Analysis Toolpak and the tools it
provides for analyzing data, how to calculate
correlation for two sets of data, and how to
create a histogram to show frequency of
grouped data values, or bins
Chapter 6: Macros and forms
You will learn:
▪ About using macros to automate
repetitive tasks, and how to record and
run a macro
▪ Various ways to run a macro
▪ About using forms to gather input from
users, and how to create simple forms
Module A: Recording macros
You will learn:
▪ What a macro is and how to run one
▪ How to record a simple formatting macro
▪ How to examine and edit code in a
recorded macro
▪ How to control the recording of relative
and absolute references in a macro
About macros
Security concerns
Managing macro security
Running a sales report macro
Recording a macro
Answer:
Assessment: Recording macros
34. Which of the following are ways to run a
macro? Choose all correct answers.
A. The Macros window
B. Shortcut keys
C. Buttons or objects
D. All of the above
Answer:
Assessment: Recording macros
35. You must always select the cell where
you want to begin before recording a macro.
True or false?
A. True
B. False
Answer:
Assessment: Recording macros
36. You can toggle between recording
relative and absolute references while
recording a macro. True or false?
A. True
B. False
Answer:
Assessment: Recording macros
37. Which of the following are locations where
you can store VBA code? Choose all correct
answers.
Answer:
Module B: Running Macros
You will learn how to:
▪ Assign macros to buttons on the ribbon or
the Quick Access toolbar
▪ Assign macros to objects on a worksheet
▪ Name macros so that they run when a
workbook is opened or closed
Assigning macros to the ribbon or Quick Access Toolbar.
Assigning macros to buttons or objects
Assigning macros to commands, buttons or objects
Assessment: Running macros
38. You have created a macro to format the
headings in a weekly report after you import the
data. The macro is stored in a template that you
use to create each weekly report. Which method of
running the macro is best? Choose the best answer.
A. An Auto_Open macro
B. A button on the Quick Access toolbar
C. A command button
D. A graphic object on the worksheet
Answer:
Assessment: Running macros
39. You have to use the VBA editor to assign
a macro to a command button ActiveX
control. True or false?
A. True
B. False
Answer:
Assessment: Running macros
40. Which approach would you use to run a macro
every time you open Excel? Choose the best
answer.
Answer:
Module C: Forms
You will learn:
▪ About userforms and how they work
▪ About the various kinds of controls you
can add to a userform
▪ How to set properties of userforms and
controls
▪ How to edit VBA code associated with
controls on a userform
Creating forms
Inserting controls
OptionButton An option users can click. Usually, only one option button
in a group can be selected at a time.
Answer:
Assessment: Forms
42. You change the name of a form by
clicking its title bar and typing. True or false?
A. True
B. False
Answer:
Assessment: Forms
43. Which property of a TextBox control would you
access in your VBA code to obtain the text a user
typed into the text box? Choose the one correct
answer.
A. Value
B. (Name)
C. Text
D. Caption
Answer:
Summary: Macros and forms
You should now know:
▪ About using macros to automate repetitive tasks, how
to record and run a macro, and how to control the
recording of relative and absolute references
▪ How to assign a macro to the Quick Access toolbar, to
a graphical object, or to a command button, and how
to cause a macro to run automatically when a
workbook is opened or closed
▪ About using forms to gather input from users, how to
create simple forms and change their properties, how
to add controls and change their properties, and how
to use VBA procedures to control the interaction
between users, controls, and Excel
Synthesis: Macros and forms