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### 15 Cards in this Set

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 What do Data Delivery Functions do? List some examples Verify/search/transofrm/deliver data from one point to anotherEx. Filter Unique ValuesData Validation & Drop-Down MenusLookup Functions Define a lookup table, compare values and a lookup value A table that organizes data you want to retrieve into different categories The categories for the lookup table The value you are trying to find What are the functions for VLOOKUP and HLOOKUP =VLOOKUUP(lookup_value,table_array,col_index_num[,range_lookup]) =HLOOKUP(lookup_value,table_array,row_index_num[,range_lookup]) What are examples of simple functions? =AVERAGE=MAX=MEDIAN=PEARSON What are examples of range functions? =COUNT - cells that have numbers=COUNTA - counts cells that are numeric and text=COUNTBLANK=COUNTIF - cells within a range that meets the condition What are the phases in Problem-Solving & Modeling Process?Define them Formulation - Transformation of a real problem scenario into a mathematical modelSolution - Solving the model to obtain the optimal solutionInterpretation - Analyzing results and implementing solution What is a model and what does a valid model do? A simplified version of the thing they represent. A valid model represents the relevant characteristics of the object or decision being studied What are the types of models? Name an example of each Mental - Arranging furnitureVisual - MapPhysical/Scale - buildingsMathematical - financial analysis Define a computer model and what is the most convenient way to do business for people who build them? A set of mathematical relationships and logical assumptions implemented in a computer as an abstract representation of a real-world or phenomenon Spreadsheets What are the benefits of the modeling approach? Economy: Less costly to use modelsTimeliness: Deliver more quicklyFeasibility: Understanding impossible outcomesGives us insight & understanding that improves decision making Define annuity (finance theory), general annuity and how does it work? Any terminating stream of fixed payments over a specified period of time A series of constant cash payments made over a continuous period Cash paid out = negativeCash received = positive What are the syntax =FV(rate,nper,pmt,pv,type)Rate - Interest rate per periodNper(10)- Total number of payment periods annualyPmt - Payment made each period (cannot change over the life of the annuity) What's incredibly important when using rate, nper, and pmt arguments? Checking that the arguments are expressed in equal terms Not using the delete key when deleting a row/column What are the5 arguments of the Payment function? 1. rate - Interest rate charged by a lender2. nper - Number of payments or period of time3. pv (present value) - The amount of money being borrowed or the principal of the loan (must be negative)4. fv (future value) - Part of loan paid off with periodic payments and balance of loan is paid off in one lump sum at a future p.i.t5. [type] - either a 1 or 0. It determines if payments are made at the beginning (1) or end of a period (0) What is the objective of the Financial Model? Familiarize you with:- Modeling approach to problem-solving- Formulas and functions- Using relative & absolute cell references- Using FV function to consolidate simpler arithmetic functions