Homework answers / question archive / Excel Tutorial 4: Analyzing and Charting Financial Data   TRUE/FALSE        1)   Each slice in a pie chart represents a single value from a data series

Excel Tutorial 4: Analyzing and Charting Financial Data   TRUE/FALSE        1)   Each slice in a pie chart represents a single value from a data series

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TRUE/FALSE

 

     1)   Each slice in a pie chart represents a single value from a data series.

 

 

     2.   Excel charts are either placed in their own chart sheets or embedded in a worksheet.

 

 

     3.   Every chart contains elements that can be formatted, added to the chart, or removed

from the chart.

 

     4.   In pie charts, it’s best to make the slice colors as similar as possible.

 

 

     5.   A column chart turned on its side is called a bar chart, with the length of the bar determined by the data value.

 

 

     6.   You can move a chart from one worksheet to another, or you can place the chart in its own chart sheet.

 

 

     7.   Sparklines differ from data bars in that the sparklines are always placed in the cells containing the value they represent.

 

 

     8.   Line charts are best suited for representing data that follows some nonsequential order.

 

 

     9.   Interest is the amount of money being loaned.

 

 

   10.   The PMT function calculates the payment required in each period to pay back the loan.

 

 

MODIFIED TRUE/FALSE

 

     1.   Interest is the amount added to the principal by the lender. _________________________

 

 

     2.   A color bar is a conditional format that adds a horizontal bar to the background of a cell containing a numeric value. _________________________

 

 

     3.   Pie charts are most effective with ten or fewer slices. _________________________

 

 

     4.   By default, Excel inserts a chart as an embedded chart. _________________________

 

     5.   You can quickly change the appearance of the entire chart by selecting a different chart style in the Chart Design gallery. _________________________

 

 

     6.   When you create sparklines, clicking any cell in the data range selects all of the sparklines in the group. _________________________

 

 

     7.   The cell with the largest value contains a data marker that extends across the entire width of the cell, and the lengths of the other bars in the selected range are determined relative to that bar. _________________________

 

     8.   In a line chart, the data markers are the points connected by the line. _________________________

 

 

     9.   A watermark can be inserted into the header or footer of a worksheet. _________________________

 

 

   10.   Combination charts enable you to show three sets of data using the chart type that is best for each data set. _________________________

 

 

MATCHING

 

Identify the letter of the chart type that best matches the phrase or definition.

a.	Scatter	f.	Pie
b.	Column	g.	Stock
c.	XY	h.	Bar
d.	Line	i.	Surface
e.	Radar	j.	Area

 

 

     1.   Compares values from different categories. A value is indicated by the height of each ____.

 

     2.   Often used to show trends and changes over time

 

     3.   Compares relative values of different categories to the whole. A value is indicated by the area of a(n) ____

 

     4.   Compares values from different categories. A value is indicated by the length of the ____

 

     5.   Compares values from different categories. Areas under the lines contain a fill color

 

     6.   Similar to a Scatter chart

 

     7.   Compares a collection of values from several different data sets.

 

     8.   Compares three sets of values in a three-dimensional chart

 

     9.   Displays stock market data

 

   10.   Shows patterns or relationship between two or more sets of values. Often used in scientific studies and statistical analyses.

 

MULTIPLE CHOICE

 

     1.   A ________ contains the actual values that are plotted on the chart

a.	data source
b.	data series
c.	category values
d.	legend

 

 

 

     2.   Category values are usually located in the ____ of the data source.

a.	first row	c.	either a or b
b.	first column	d.	neither a nor b

 

 

 

 

 

     3.   Referring to the figure above, if you were to create a Wine Production Chart pie chart using the information in B28:C34, the data source for that chart would be ____.

a.	B28:C34	c.	B28:B34
b.	B29:C33	d.	B29:C34

 

 

 

     4.   In the figure above, the biggest slice is the cases of _______.

a.	Riesling	c.	Pinot Grigio
b.	Chardonnay	d.	Ruby Cabernet

 

 

 

     5.   In the lower right corner, below C34, the _____ tool displays.

a.	Screen Tip	c.	What-If
b.	Quick Analysis	d.	Quick Chart

 

 

 

     6.   The ____ is the only one of the following charts to compare relative values from different categories to the whole.

a.	pie	c.	line
b.	column	d.	area

 

 

 

     7.   To add and remove chart elements, you can use the Add Chart Element button in the Charts Layout group on the ____ tab.

a.	CHART TOOLS LAYOUT	c.	INSERT
b.	CHART TOOLS DESIGN	d.	HOME

 

 

 

     8.   The ____ CHART TOOLS contextual tabs appear on the Ribbon when you select a chart.

a.	INSERT and DESIGN	c.	INSERT and FORMAT
b.	DESIGN and FORMAT	d.	FORMAT and PRINT

 

 

 

     9.   The ____ dialog box provides options for moving charts between worksheets and chart sheets.

a.	Insert New	c.	Move Chart
b.	Tab	d.	Change Chart

 

 

 

   10.   Placing a chart in a ____ displays only the chart and no worksheet cells.

a.	new worksheet	c.	graph display
b.	tabbed view	d.	chart sheet

 

 

 

   11.   Excel supports all of the following  types of sparklines EXCEPT ____.

a.	A win/loss sparkline for highlighting positive and negative values
b.	A column sparkline used for column charts
c.	A line sparkline for highlighting trends
d.	a true/false sparkline for help making decisions

 

 

 

   12.   To resize an embedded chart, ____.

a.	select the chart and drag the corner sizing handle of the selection box
b.	right click the chart and then click Resize on the shortcut menu
c.	select the chart and press Tab
d.	both a and b

 

 

 

   13.   The columns and pie slices in the charts above are ____.

a.	data markers	c.	major tick marks
b.	chart areas	d.	minor tick marks

 

 

 

   14.   Referring to the figure above, the rectangular area to the right of the pie chart is the ____.

a.	perspective	c.	legend
b.	plot area	d.	data marker

 

 

 

   15.   Referring to the figure above, in the column chart, the values along the left side ($200,000, $400,000, $600,000, etc.) are ____.

a.	plot markers	c.	data markers
b.	plot marks	d.	axis labels

 

 

 

   16.   Referring to the figure above, the entry 31.5%, shown next to the largest pie slice, is a ____.

a.	data label	c.	legend
b.	chart key	d.	series value

 

 

 

   17.   Referring to the figure above, the chart title for the pie chart is ____.

a.	Estimated Production	c.	Total Revenue
b.	Projected Revenue and Expenses	d.	Production

 

 

 

   18.   To reposition the legend to the left-hand side of a chart, click the _________ button, point to Legend, click the right arrow icon, and click Left.

a.	Legend	c.	Formatting
b.	Chart Elements	d.	Layout

 

 

 

   19.   ____provide descriptive text for the individual data markers, such as pie slices

a.	Asset labels	c.	Data labels
b.	Legend values	d.	Leader lines

 

 

 

   20.   A pie slice is a data marker that represents ____ from a data series.

a.	only one value	c.	no more than three values
b.	at least one value	d.	no more than five values

 

 

   21.   To move one slice of a pie chart away from the pie creates a(n) ____.

a.	spontaneous pie chart	c.	exploded pie chart
b.	perfect pie chart	d.	exponential pie chart

 

 

 

   22.   You already created a line chart, but now decide that you want to change this chart to a pie chart. To do this, you click ____ from the Type group in the Chart Tools Design tab.

a.	Change Chart Type	c.	Alter Existing Chart
b.	New Chart	d.	Modify Chart

 

 

 

   23.   A chart that compares three set of values in a three-dimensional chart is _____.

a.	Stock	c.	Surface
b.	Radar	d.	Scatter

 

 

 

   24.   Which of the following shows the correct order of steps for adding a data series to a chart?

a.	Select the chart, Click the Add button, Click the Select Data button, Select the range
b.	Select the chart, Click the Select Data button, Click the Add button, Select the range
c.	Select the range, Click the Select Data button, Click the Add button, Select the chart
d.	Select the range, Select the chart, Click the Select Data button, Click the Add button

 

 

 

   25.   Edward Tufte was concerned with what he termed as “chart ____,” in which a proliferation of chart elements—chosen because they look “nice”—confuse and distract the reader.

a.	espionage	c.	confusion
b.	clutter	d.	junk

 

 

 

   26.   Edward Tufte said that ____ ink is any part of the chart that does not convey information about the data.

a.	data	c.	information
b.	non-data	d.	non-information

 

 

 

   27.   A chart sheet can contain ____.

a.	only one chart	c.	one to four charts
b.	one or two charts	d.	one to six charts

 

 

 

   28.   Which of the following represents the pointer when it is over the chart area?

a.		c.
b.		d.

 

 

 

   29.   You can choose Center, Inside End, Outside End, or Best Fit for the data label positions in the in the ____ pane.

a.	Format Data Labels	c.	Format Chart Area
b.	Format Legend	d.	Format Axis

 

 

 

   30.   The range of values or _______, of an axis is based on the values in the data source.

a.	scale
b.	defined range
c.	series
d.	length

 

 

 

   31.   To format an individual sparkline, select the sparkline you want to format, and then click the Ungroup button in the Group group on the SPARKLINE TOOLS ____ tab.

a.	CREATE	c.	LAYOUT
b.	VIEW	d.	DESIGN

 

 

 

   32.   When combination charts have data series with vastly different values, you can create ____ charts.

a.	dual axis
b.	secondary
c.	multivalued
d.	multiple axis

 

 

 

   33.   The ____ identifies which data markers are associated with each data series.

a.	x-axis	c.	chart area
b.	y-axis	d.	legend

 

 

 

   34.   ____ is the amount added to the prinicpal of a loan by the lender.

a.	Rate	c.	Interest
b.	Simple	d.	Maximum

 

 

   35.   The FV function stands for ____.

a.	function value	c.	financial value
b.	future value	d.	formulated value

 

 

 

   36.   The amount of money being loaned is known as the ____.

a.	mortgage	c.	loan amount
b.	principal	d.	proposed principal

 

 

 

   37.   In the figure above, nper stands for the ____.

a.	total number of payment periods
b.	total number of payments that have already been made
c.	number of payments per year
d.	number of interest payments per year

 

 

 

   38.   In the figure above, pv stands for the ____.

a.	payments verified	c.	present value of the loan
b.	principal value of the loan	d.	primary interest rate of the loan

 

 

 

   39.   In the figure above, fv and type are ____.

a.	financial functions	c.	comparison operators
b.	required arguments	d.	optional arguments

 

 

 

   40.   The possible values for the type argument in the function above are.

a.	0 or null	c.	0, 1, or 2
b.	0 or 1	d.	0, 1, 2, or 3

 

 

 

   41.   The _______ displays the data series in separate columns side-by-side so that you can compare the relative heights of the columns in the three series.

a.	clustered column chart	c.	100% stacked column chart
b.	stacked column chart	d.	column chart

 

 

 

   42.   Generally, _____ are given a “washed-out” appearance and are placed behind text or charts on the sheet so that they do not obscure any of the other content on the sheet.

a.	charts	c.	graphics
b.	watermarks	d.	pictures

 

 

Critical-Thinking Case Based Questions

 

Case 4-1

Simon has just started a job with the police department. His director has given him the last six months of test results from four local precincts. Simon has organized the results as four data series and needs to display the trends in a graphic format.

 

   43.   Simon’s boss wants him to compare the values in this chart with several different data sets.  Simon should prepare a(n) ____ for his boss.

a.	Radar chart	c.	Pie chart
b.	Line graph	d.	XY scatter chart

 

 

 

   44.   It’s difficult to read the exact scale on some of Simon’s data. Adding ____ would make it easier to read.

a.	a legend	c.	colors
b.	major tick marks	d.	more numbers

 

 

 

   45.   Simon has finished his chart but needs to save some space. What’s the most effective way for Andy to reduce space without losing important data?

a.	Delete parts of the data	c.	Delete the title
b.	Delete the legend	d.	Overlay the legend in areas without data

 

 

 

   46.   Simon wants to change the chart’s border. To do this, he should select the CHART TOOLS ____ tab.

a.	FORMAT	c.	DESIGN
b.	EDIT	d.	LAYOUT

 

 

Case-Based Critical Thinking Questions

 

Case 4-2

Mya has just surveyed 100 students to get their reaction to a new textbook she is reviewing. She has one data series that she wants to represent graphically, and she needs to display her data in a way that lets her visually compate the data values and see how much contributes to the whole.

 

   47.   Since it’s important for Mya to keep percentages of her whole reviewer base in mind, she wants to represent data as parts of a whole. What chart type would you suggest to Mya?

a.	bar	c.	scatter
b.	column	d.	pie

 

 

 

   48.   Since Mya is still reviewing her data, she wants to make sure that her chart reflects any changes she makes in her data source. She should ____.

a.	paste her chart in as a picture
b.	do nothing since charts in Excel remain linked to data sources
c.	manually adjust data in a chart
d.	create a new chart each time she modifies her data

 

 

 

   49.   Mya has decided she needs to move her chart so that it appears below her data source.  Before she can move or resize her chart she must ______.

a.	select the chart
b.	hold down the SHIFT key
c.	adjust the sizing handles
d.	move the mouse pointer to the center of the chart.

 

 

 

   50.   Sometimes Mya might want to see information on only specific slices. Rather than creating a new chart that includes only those selections, she can _____ an existing chart.

a.	search	c.	find
b.	filter	d.	examine

 

 

 

   51.   Mya has asked for your advice. A colleague told her to remove the legend from her pie chart because it takes up too much space. What would be a better piece of advice to give Mya?

a.	Resize the legend to be as tiny as possible.
b.	Remove data from the legend.
c.	Overlay the legend on a part of the chart that’s empty.
d.	You agree with the colleague; Mya should remove the legend.

 

 

 

   52.   Mya needs to call attention to one category above all others. For this purpose, she should use a(n) ____.

a.	line chart	c.	scatter chart
b.	exploded pie chart	d.	banded chart

 

 

 

COMPLETION

 

     1.   Excel supports ____________________ types of charts into 10 categories..

 

 

     2.   In cases where a label placed outside a pie might appear farther from its slice than is easily readable, a(n) ____________________ might be added to connect the data to its corresponding slices.

 

 

     3.   The range of values, or ___________________, of an axis is based on the values in the data source.

 

     4.   You can add ___________________ to identify smaller intervals between the major tick marks.

 

     5.   To compare values from several categories with a sequential order, such as dates and times occurring at evenly spaced intervals, you would use a(n) ____________________ chart.

 

     6.   A chart that combines two or more chart types into a single graph is called a(n) ____________________ chart.

 

 

     7.   Since scientific data is often plotting two numeric values against one another, it is oftentimes best to represent this data type with a(n) ____________________ chart.

 

     8.   Each data source is a collection of ____________________, which is a range of values plotted as a single unit on a chart.

 

 

     9.   A(n) ____________________ chart shows patterns or relationships between two or more sets of values, much like an XY chart, except the size of the data marker is determined by a third value.

 

   10.   A ____________ displays data values as columns with the height of each column based on the data value.

 

 

   11.   ______ are horizontal and vertical lines that help you compare data and category

values.

 

   12.   Each value from a data series is represented by a ________.

 

 

   13.   The _______ covers the entire background of the chart, whereas the plot area includes

only that portion of the chart in which the data markers, such as the columns in a

column chart, have been placed or plotted.

 

 

   14.   An _______ chart takes up less space than a chart sheet.

 

 

   15.   The goal of a ______ is to convey the maximum amount of information within a very small space.

 

 

ESSAY

 

     1.   Consider the impact of a poorly designed chart. Explain why it is important to have a well-designed chart, and name at least four tips for creating a good chart.        

 

 

     2.   When selecting a chart, it’s important to choose the right type of chart to represent your data.  If choosing between a pie chart and a line chart, what factors would you evaluate in choosing which chart to use? How would each chart differ in representing your data?

ritical Thinking

 

     3.   Describe the some of the concepts and definitions associated with loans before using a PMT function.