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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 another


Ex. Filter Unique Values


Data Validation & Drop-Down Menus


Lookup 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 model


Solution - Solving the model to obtain the optimal solution


Interpretation - 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 furniture


Visual - Map


Physical/Scale - buildings


Mathematical - 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 models


Timeliness: Deliver more quickly


Feasibility: Understanding impossible outcomes


Gives 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 = negative


Cash received = positive

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)

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 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)


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