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XP
Chapter Introduction
Chapter 8
Data tables
Ask a what-if question involving a range of cells Perform many calculations at once, then compare results on a single worksheet Run a simulation with a two-variable data table
The only place where success comes before work is a dictionary. - Vidal Sassoon
Scenario Manager
Consolidates multiple what-if models in one worksheet Can switch between scenarios to see how sets of assumptions affect results
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Functions covered in this chapter: AVERAGE, MAX, MIN, RAND, STDEV, SUMPRODUCT, VLOOKUP
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Level 1 Objectives: XP Using Data Tables to Perform Break-Even & Sensitivity Analysis
Conduct break-even analyses Conduct sensitivity analyses Create, format, and interpret one-variable data tables Create, format, and interpret two-variable data tables
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Chapter 8
Break-even analysis
Type of what-if analysis that concentrates on an activity at or around the point at which expenses of creating and selling the product are equal to revenue it produces (profit is $0)
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Break-Even Point
Sensitivity analysis
Type of what-if analysis that attempts to examine how sensitive results of an analysis are to changes in assumptions
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Sensitivity Analysis
Data table
Range of cells containing values and formulas Change the values, the results change Can compare results of many calculations; useful for break-even and sensitivity analyses
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One input cell and many result cells Set of input values must be arranged perpendicular to the set of output formulas, with no value or formula located at the intersection of the set of input values and output formulas
Two input cells, only one result cell; determines how two values affect a single result The two sets of input values must be set up perpendicular to each other, and the output formula must be in the cell at the intersection of the two sets of input values
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Formulas
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2. Instruct Excel about how the data tables structure relates to the input section of the worksheet
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2. Indicate how the data tables structure relates to the input section of the worksheet
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Level 1 Summary
Using data tables for what-if analysis
One-variable data tables Two-variable data tables
Set up data tables structure Specify how to complete the table by indicating to which cells in worksheets input section the tables input values relate
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Planning Scenarios
Prepare the inputs Prepare the outputs Set up a scenario Prepare a worksheet for scenarios
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SUMPRODUCT function can be used to sum a series of products (the results of a multiplication task)
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Succeeding in Business with Microsoft Office Excel 2003: A Problem-Solving Approach
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Setting up a Scenario
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Indicate scenarios changing cells in Changing cells box Enter specific assumptions for changing cells in the Scenario Values dialog box
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Level 2 Summary
Using scenarios to save a number of sets of different input values (changing cells) and to switch between scenarios to see results of different assumptions Showing selected results on scenario summary reports or scenario PivotTables and PivotCharts Using the SUMPRODUCT function to sum products of multiplication operations
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Prepare worksheets for simulations using data tables Run simulations using data tables Conduct statistical analysis of simulation results Interpret simulation results
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Calculate some statistics about the data; base the analysis on those statistics, not the raw data itself
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Level 3 Summary
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Chapter Summary
Using data tables to perform break-even and sensitivity analysis Using scenarios to perform what-if analysis Using Excels data tables to create a simulation
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