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EXCEL CH. 6 (Modeling Basics)
Terms in this set (28)
A ________ _______ is generally used to represent the logic of a more complicated logical process
Every good spreadsheet model will have three common elements:
changeable inputs, outputs, and intermediate calculations
the elements of the model that the user will change every time a new application is processed
represent the outcome of the process that is modeled in the spreadsheet
comprises the area of the worksheet where the logical steps required to complete the process are modeled
The_______ _______ is the annual income divided by 12
calculated by multiplying the monthly income by the acceptable percentage of monthly income allowed to go towards debt defined in the model inputs
Acceptable Income Servicing Debt
The maximum dollar amount that the applicant can spend each month on debt to be approved for the loan
Acceptable Income Servicing Debt
included from the inputs to be used as part of the maximum payment calculation in the model
the total loan payment the applicant can make and still be approved for the loan
calculated as the acceptable income servicing debt minus the other monthly debts the applicant must pay
calculated using the PMT function that accounts for the loan amount, interest rate, and term of the loan as defined in the inputs section of the model
When you use an existing model to examine the impact of hypothetical changes in the model inputs, you are conducting _____ _____ __________
Excel has three specific tools for conducting what-if analysis on your spreadsheet models:
scenario manager, goal seek, and data tables
The _______ _______ is useful for examining the impact of several inputs to a spreadsheet model changing at the same time
The summary worksheet presents an overview of the current state of the spreadsheet model (____ _____) and each of the _________ created in scenario manager for that model
_______ _______ is used to work backwards from an outcome calculation to determine an input condition necessary to arrive at the desired outcome
we can specify a number of different possible states for one or two input variables and construct a table in our worksheet that calculates an outcome for our model based on each state of the input variables
When one input variable is used, the analysis is called a _____ ______ data table. Examining the effect of two variables at once requires a _____ ______ data table.
for the _______ ________, Changing cells don't have to be the same for each situation
disadvantage of scenario manager
Pulls in cell references but NOT cell labels
3 components of Goal seek?
Set Cell (the cell you want to modify the value of)
To value (set the value of the cell you want)
By changing cell (the cell to modify in order to get the
Limitation of Goal Seek?
you can only specify one input and one outcome variable to change
How do you negate the negative in FV?
put a negative in front of the function
which short cut puts your cursor at the four corners of your data?
When we use excel, we can bring data from ________
PivotTables allow you to input your own _______ _______
An Excel feature that enables you to specify how cells that meet one or more given conditions should be displayed.
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