2.6 Chapter Assessment

The following are sample questions to test whether you know, understand, and are able to apply your learning from this chapter.

 

1. What kind of a cell reference do you need to use in your formula in the Budget Detail to calculate the Monthly Spend amount for Food?
a) Absolute
b) Circular
c) Linking
d) Relative
2. Based on Figure 2.3 and the Budget Detail sheet, which of the following is the best formula to calculate the Monthly Spend amount for Gasoline?
a) =A5/12
b) =D5/12
c) =D5/E5
d) =$1,500/12

3. Based on Figure 2.3 and the Budget Detail sheet, what is the Monthly Spend amount for Entertainment if the Annual Spend is $2,200?

a) 167
b) 178
c) 183
d) 185

4. Based on Figure 2.6 and the Budget Detail sheet, which of the following is the best formula to calculate the Percent Change for Clothes?

a) D6-E6/E6
b) (D6-E6)/E6
c) D6-E6%E6
d) (D6-E6)/12

5. Based on Figure 2.6 and the Budget Detail sheet, what is the Percent Change for Taxes if the Annual Spend is $4,450?

a) 11.1%
b) 27.1%
c) 0%
d) 25%

6. Based on Figure 2.6 and the Budget Detail sheet, which function will return the Average Spend?

a) ADD
b) AVERAGE
c) MEAN
d) TOTAL

7. Based on Figure 2.6 and the Budget Detail sheet, what is the range reference to return the Mininum Annual Spend?

a) (D3:D11)
b) (D3:E12)
c) (A3:E11)
d) (A3:E12)

8. Based on Figure 2.6 and the Budget Detail sheet, what is the best formula to return the average Average Annual Spend?

a) =AVERAGE(D3:D11)
b) =AVERAGE(D3:D12)
c) =AVERAGE(A3:D11)
d) =AVERAGE(A3:D12)

9. What percentage of the LY Spend Total was the Clothes category?

a) 5.5%
b) 5.3%
c) 9.2%
d) 4.5&

10. Based on the Budget Details sheet, what is the best formula to return the percentage of the LY Spend Total for the Insurance category?

a) =E7/E12
b) =$E$7/$E$12
c) =E7/$E$12
d) =$E$7/E12

 


Solutions: 1d, 2b, 3c, 4b, 5b, 6b, 7a, 8a, 9a, 10c

ATTRIBUTION

Questions by Emese Felvégi & Lois K. Hamburger based on the chapter practice problems. Edited by Lilliana E. Olmos & Marcella Olmos. CC BY-NC-SA 3.0.

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Excel For Decision Making by Emese Felvegi, Noreen Brown, Barbara Lave, Julie Romey, Mary Schatz, Diane Shingledecker, and Robert McCarn is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.