Range: a rectangular group of cells in a worksheet
Precedence: a set of pre-defined rules used to determine the sequence in which operators are applied in
Absolute cell references: cell addresses that stay fixed and are not adjusted as a formula is copied.
=Average (Num1,num2) Excel sums the values in the range and then divides by the number of non-
blank cells in the range.
=CountIF (range, criteria)
Condition functions: result may be a specified value or a calculated value E.g. IF, COUNTIF, SUMIF,
Nested if: when one IF function is placed inside another IF function to test an addition condition. Number of IF
function in total would be one less than the number of possible outputs.
Dashboards: quick distilled snapshots, highlighting the key includes, for instant decision making.
Operational Dashboards: for monitors operations in real-time
What-If Analysis: the study of how the uncertainty in the output of a model can be attributed to different
sources of uncertainty in the model inputs. Using a spreadsheet, what-if analysis involves changing the values in
cells to see how these changes will affect the outcome of formulas on the worksheet
What if analysis tools in excel include: Scenarios, Goal seek, Data Tables
Example of an absolute cell reference: $G$5
What are the advantages of using an Excel Table instead of a simple range of columns and rows (flat table)?
Excel Tables provide easier sorting and filtering
Excel Tables facilitate instant formatting and presentation
What is NOT an example of what-if analysis: Solver
Solver is a separate program that must be installed or added in to Excel
Once added, it appears in the Analysis group on the Data tab as shown in Figure
Solver Example: Optimal Product Mix
an add-in program that searches for the best solution to a problem with several variables