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15 Cards in this Set
- Front
- Back
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What do Data Delivery Functions do? List some examples |
Verify/search/transofrm/deliver data from one point to another Ex. Filter Unique Values Data Validation & Drop-Down Menus Lookup Functions |
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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 |
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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]) |
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What are examples of simple functions? |
=AVERAGE =MAX =MEDIAN =PEARSON |
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What are examples of range functions? |
=COUNT - cells that have numbers =COUNTBLANK =COUNTIF - cells within a range that meets the condition |
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What are the phases in Problem-Solving & Modeling Process? Define them |
Formulation - Transformation of a real problem scenario into a mathematical model Solution - Solving the model to obtain the optimal solution Interpretation - Analyzing results and implementing solution |
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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 |
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What are the types of models? Name an example of each |
Mental - Arranging furniture Visual - Map Physical/Scale - buildings Mathematical - financial analysis |
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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 |
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What are the benefits of the modeling approach? |
Economy: Less costly to use models Timeliness: Deliver more quickly Feasibility: Understanding impossible outcomes Gives us insight & understanding that improves decision making |
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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 = negative Cash received = positive |
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What are the syntax |
=FV(rate,nper,pmt,pv,type) Rate - Interest rate per period Nper(10)- Total number of payment periods annualy Pmt - Payment made each period (cannot change over the life of the annuity) |
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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 |
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What are the5 arguments of the Payment function? |
1. rate - Interest rate charged by a lender 2. nper - Number of payments or period of time 3. 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.t 5. [type] - either a 1 or 0. It determines if payments are made at the beginning (1) or end of a period (0)
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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 |
