hello quizlet
Home
Subjects
Expert solutions
Create
Study sets, textbooks, questions
Log in
Sign up
Upgrade to remove ads
Only $35.99/year
EXCEL CH. 6 (Modeling Basics)
Flashcards
Learn
Test
Match
Flashcards
Learn
Test
Match
Terms in this set (28)
A ________ _______ is generally used to represent the logic of a more complicated logical process
spreadsheet model
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
Changeable inputs
represent the outcome of the process that is modeled in the spreadsheet
model outputs
comprises the area of the worksheet where the logical steps required to complete the process are modeled
Intermediate Calculations
The_______ _______ is the annual income divided by 12
monthly income
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
monthly debts
the total loan payment the applicant can make and still be approved for the loan
max payment
calculated as the acceptable income servicing debt minus the other monthly debts the applicant must pay
max payment
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
monthly payment
When you use an existing model to examine the impact of hypothetical changes in the model inputs, you are conducting _____ _____ __________
"What-if" analysis
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
scenario manager
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
Current Values
scenarios
_______ _______ is used to work backwards from an outcome calculation to determine an input condition necessary to arrive at the desired outcome
"Goal Seek"
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
data tables
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.
one-way
two-way
for the _______ ________, Changing cells don't have to be the same for each situation
scenario manager
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
desired output)
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?
Ctrl .
When we use excel, we can bring data from ________
somewhere else
PivotTables allow you to input your own _______ _______
calculated columns
Conditional Formatting...
An Excel feature that enables you to specify how cells that meet one or more given conditions should be displayed.
Other sets by this creator
CH 14 MGMT 363
51 terms
CH 13 MGMT 363
61 terms
CH 11 MGMT 363
69 terms
CH 10 MGMT 363
58 terms