Office 2013 MyITLab MS-Excel Grader What-If Analysis

Microsoft Excel

In the following project, you will perform What-IF Analysis to calculate budget information for your University’s Valentine’s Day formal.

Instructions:

For the purpose of grading the project you are required to perform the following tasks:

Step Instructions Points Possible
1 Download and open the file named exploring_e06_grader_h1.xlsx, and then save the file as exploring_e06c1Dance_LastFirst, replacing “LastFirst” with your name. 0
2 Use Goal Seek to achieve a $0 balance by changing the ticket price per person. 6
3 Beginning in cell E3, complete the series of substitution values ranging from 200 to 500 at increments of 20 students vertically down column E 3
4 Enter references to the total income, total expenses, and balance formulas in that order for a one-variable data table in Cell F2, Cell G2, Cell H2 respectively. 3
5 Apply custom number formats to make the formula references appear as the following: F2- Revenue, G2 – Expenses, H2 – Balance. 3
6 Create a one-variable data table for the range E2:H18 using the number of attendees as the Column input cell. Format the results with Accounting Number Format with two decimal places. 7
7 Copy the number of attendees substitution values from the one-variable data table (in cells E3:E18), and then paste the values starting in cell E22. 4
8 Type $50 in cell F21 and complete the series of substitution values from $50 to $100 at $10 increments. 2
9 Enter the reference to the balance formula (C34) in the Cell E21 for a two variable data table, then complete the table using cell B9 as the row input cell and B4 as the column input cell. Format the results with Accounting Number Format with two decimal places.

Hint:  On the DATA tab, in the Data Tools group, click What-If Analysis, then click Data Table. On the HOME tab, in the Number group, click the Format Cells: Number Dialog Box Launcher to format the results.

 7
10 Apply a Red, Accent 2, Lighter 60% fill color to the cells closest to break-even without creating a deficit.

Hint:
– On the HOME tab, in the Font group, click Fill Color. If you hover your mouse over a color cell, the name of that cell will appear.
– This step is not asking you to apply conditional formatting.
– Do not attempt to complete this step using the right-mouse button, as the name of the colors will not be shown when you hover the mouse over a color cell (bug!).
– This step is asking you to color the first cell within each column (Column F..I) of the 2-var data table that displays a positive value.

 2
11 Apply custom number format to cell E21 to display #Attend. 2
12 Create a scenario named 500 Attend using the number of attendees, meal cost per person, ticket price per person, and ballroom rental variables as the changing cells. Enter these values for the scenario: 500, 15.95, 75, and 12500. 5
13 Create a second scenario named 400 Attend, using the same changing cells. Enter these values for the scenario: 400, 17.95, 85, and 12500. 5
14 Create a third scenario named 300 Attend, using the same changing cells. Enter these values for the scenario: 300, 19.95, 90, and 11995, respectively. 5
15 Create a fourth scenario named 200 Attend, using the same changing cells. Enter these values for the scenario: 200, 22.95, 95, and 11995, respectively. 5
16 Generate a scenario summary report using the total revenue, total expenses, and balance as the results. 6
17 Load the Solver add-in if it is not already loaded. Click the Budget worksheet and set the objective to calculate the highest balance possible.

Hint: What is the highest balance possible? (i.e., get objective cell to be greatest number possible).

 5
18 Use the number of attendees and the ticket price per person as changing variable cells.

Hint: Solver will change the values of these decision variables until a ‘best’ solution is found:
– the number of attendees, and
– the ticket price per person.

 5
19 Set a constraint so that the number of attendees entered in the Input Section of the workbook does not exceed the specified limitation in cell B12. 5
20 Set constraints so that the ticket price per person entered in the Input Section meets the requirements set in the range A14:B15. 5
21 Set an appropriate integer constraint. 5
22 Set a constraint that ensures the valet parking expense is less than or equal to the product of the number of parking stalls and the valet price per vehicle. 5
23 Solve the problem, but keep the original values in the Budget worksheet. Generate the Answer Report. 5
24 Ensure that the worksheets are correctly named and placed in the following order in the workbook: Scenario Summary, Answer Report 1, Budget.  Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed. 0
Total Points 100
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  • File Format: Microsoft Excel .xlsx
  • Version Used: 2013
  • Custom Solution Available: Yes