Business analysis with microsoft excel pdf

Microsoft Excel 2019 Data Analysis and Business Modeling, 6th Edition

English | 2019 | ISBN: 978-1509305889 | 880 Pages | PDF, EPUB | 237 MB

Master business modeling and analysis techniques with Microsoft Excel 2019 and Office 365 and transform data into bottom-line results. Written by award-winning educator Wayne Winston, this hands-on, scenario-focused guide helps you use Excel to ask the right questions and get accurate, actionable answers. New coverage ranges from Power Query/Get & Transform to Office 365 Geography and Stock data types. Practice with more than 800 problems, many based on actual challenges faced by working analysts.
Solve real business problems with Excel—and build your competitive advantage:

• Quickly transition from Excel basics to sophisticated analytics
• Use PowerQuery or Get & Transform to connect, combine, and refine data sources
• Leverage Office 365’s new Geography and Stock data types and six new functions
• Illuminate insights from geographic and temporal data with 3D Maps
• Summarize data with pivot tables, descriptive statistics, histograms, and Pareto charts
• Use Excel trend curves, multiple regression, and exponential smoothing
• Delve into key financial, statistical, and time functions
• Master all of Excel’s great charts
• Quickly create forecasts from historical time-based data
• Use Solver to optimize product mix, logistics, work schedules, and investments—and even rate sports teams
• Run Monte Carlo simulations on stock prices and bidding models
• Learn about basic probability and Bayes’ Theorem
• Use the Data Model and Power Pivot to effectively build and use relational data sources inside an Excel workbook
• Automate repetitive analytics tasks by using macros

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Microsoft excel 2019 data analysis and business modeling pdf

Название: Microsoft Excel 2019 Data Analysis and Business Modeling
Автор: Winston W.
Издательство: Microsoft Press
Год: 2018
Формат: PDF
Страниц: 880
Для сайта: vtome.ru
Размер: 64 mb
Язык: английский

Master business modeling and analysis techniques with Microsoft Excel 2019 and Office 365 and transform data into bottom-line results. Written by award-winning educator Wayne Winston, this hands-on, scenario-focused guide helps you use Excel to ask the right questions and get accurate, actionable answers. New coverage ranges from Power Query/Get & Transform to Office 365 Geography and Stock data types. Practice with more than 800 problems, many based on actual challenges faced by working analysts.

Solve real business problems with Excel—and build your competitive advantage:
Quickly transition from Excel basics to sophisticated analytics
Use PowerQuery or Get & Transform to connect, combine, and refine data sources
Leverage Office 365’s new Geography and Stock data types and six new functions
Illuminate insights from geographic and temporal data with 3D Maps
Summarize data with pivot tables, descriptive statistics, histograms, and Pareto charts
Use Excel trend curves, multiple regression, and exponential smoothing
Delve into key financial, statistical, and time functions
Master all of Excel’s great charts
Quickly create forecasts from historical time-based data
Use Solver to optimize product mix, logistics, work schedules, and investments—and even rate sports teams
Run Monte Carlo simulations on stock prices and bidding models
Learn about basic probability and Bayes’ Theorem
Use the Data Model and Power Pivot to effectively build and use relational data sources inside an Excel workbook
Automate repetitive analytics tasks by using macros

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Microsoft Excel 2019 Business Modeling

Microsoft Excel 2019Data Analysis andBusiness ModelingSixth EditionWayne L. Winston

Microsoft Excel 2019 Data Analysis and Business Modeling, Sixth EditionPublished with the authorization of Microsoft Corporation by:Pearson Education, Inc.Copyright 2019 by Pearson Education, Inc.All rights reserved. This publication is protected by copyright, and permission must be obtained from the publisher prior toany prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. For information regarding permissions, request forms, and the appropriate contacts within the Pearson Education Global Rights & Permissions Department, please visit www.pearsoned.com/permissions/.No patent liability is assumed with respect to the use of the information contained herein. Although every precaution hasbeen taken in the preparation of this book, the publisher and author assume no responsibility for errors or omissions. Nor isany liability assumed for damages resulting from the use of the information contained herein.ISBN-13: 978-1-5093-0588-9ISBN-10: 1-5093-0588-2Library of Congress Control Number: 20199334671 19TrademarksMicrosoft and the trademarks listed at http://www.microsoft.com on the “Trademarks” webpage are trademarks of theMicrosoft group of companies. All other marks are property of their respective owners.Warning and DisclaimerEvery effort has been made to make this book as complete and as accurate as possible, but no warranty or fitness is implied.The information provided is on an “as is” basis. The author, the publisher, and Microsoft Corporation shall have neither liability nor responsibility to any person or entity with respect to any loss or damages arising from the information containedin this book.Special SalesFor information about buying this title in bulk quantities, or for special sales opportunities (which may include electronicversions; custom cover designs; and content particular to your business, training goals, marketing focus, or branding interests), please contact our corporate sales department at corpsales@pearsoned.com or (800) 382-3419.For government sales inquiries, please contact governmentsales@pearsoned.com.For questions about sales outside the U.S., please contact intlcs@pearson.com.Editor-in-Chief: Brett BartowExecutive Editor: Loretta YatesSponsoring Editor: Charvi AroraDevelopment Editor: Rick KughenManaging Editor: Sandra SchroederSenior Project Editor: Tracey CroomProject Editor: Charlotte KughenCopy Editor: Rick KughenIndexer: Cheryl LenserProofreader: Gill Editorial ServicesTechnical Editor: David FransonEditorial Assistant : Cindy TeetersCover Designer: Twist Creative, SeattleCompositor: Bronkella Publishing LLCGraphics: TJ Graham Art

To Vivian, Jen, and Greg, You are all so great, and I love all of youso much!

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Contents at a glanceIntroductionxxiiiCHAPTER 1Basic worksheet modeling1CHAPTER 2Range names9CHAPTER 3Lookup functions21CHAPTER 4The INDEX function29CHAPTER 5The MATCH function33CHAPTER 6Text functions and Flash Fill39CHAPTER 7Dates and date functions57CHAPTER 8NPV and XNPV functions65CHAPTER 9IRR, XIRR, and MIRR functions71CHAPTER 10More Excel financial functions77CHAPTER 11Circular references89CHAPTER 12IF, IFERROR, IFS, CHOOSE, and SWITCH functions93CHAPTER 13Time and time functions115CHAPTER 14The Paste Special command121CHAPTER 15Three-dimensional formulas and hyperlinks127CHAPTER 16The auditing tool and the Inquire add-in133CHAPTER 17Sensitivity analysis with data tables143CHAPTER 18The Goal Seek command155CHAPTER 19Using the Scenario Manager for sensitivity analysis161CHAPTER 20 he COUNTIF, COUNTIFS, COUNT, COUNTA, andTCOUNTBLANK functions167 he SUMIF, AVERAGEIF, SUMIFS, AVERAGEIFS,TMAXIFS, and MINIFS functions175CHAPTER 22The OFFSET function181CHAPTER 23The INDIRECT function193CHAPTER 24Conditional formatting203CHAPTER 25Sorting in Excel229CHAPTER 26Excel tables and table slicers237CHAPTER 27 pin buttons, scrollbars, option buttons, check boxes,Scombo boxes, and group list boxes253CHAPTER 28The analytics revolution263CHAPTER 29An introduction to optimization with Excel Solver269CHAPTER 21v

viCHAPTER 30Using Solver to determine the optimal product mix273CHAPTER 31Using Solver to schedule your workforce283CHAPTER 32 sing Solver to solve transportation or distributionUproblems289CHAPTER 33Using Solver for capital budgeting295CHAPTER 34Using Solver for financial planning303CHAPTER 35Using Solver to rate sports teams309CHAPTER 36 arehouse location and the GRG Multistart andWEvolutionary Solver engines313CHAPTER 37Penalties and the Evolutionary Solver321CHAPTER 38The traveling salesperson problem327CHAPTER 39Importing data from a text file or document331CHAPTER 40Get & Transform337CHAPTER 41Geography and Stock data types345CHAPTER 42Validating data351CHAPTER 43 Summarizing data by using histograms and Pareto charts359CHAPTER 44Summarizing data by using descriptive statistics373CHAPTER 45Using pivot tables and slicers to describe data391CHAPTER 46The Data Model435CHAPTER 47Power Pivot443CHAPTER 48Filled and 3D Power Maps459CHAPTER 49Sparklines471CHAPTER 50Summarizing data with database statistical functions477CHAPTER 51Filtering data and removing duplicates485CHAPTER 52Consolidating data501CHAPTER 53Creating subtotals507CHAPTER 54Charting tricks513CHAPTER 55Estimating straight-line relationships549CHAPTER 56Modeling exponential growth557CHAPTER 57The power curve561CHAPTER 58Using correlations to summarize relationships567CHAPTER 59Introduction to multiple regression573CHAPTER 60 Incorporating qualitative factors into multiple regression579CHAPTER 61Modeling nonlinearities and interactions589CHAPTER 62Analysis of variance: One-way ANOVA597CHAPTER 63Randomized blocks and two-way ANOVA603

CHAPTER 64Using moving averages to understand time series613CHAPTER 65Winters method and the Forecast Sheet617CHAPTER 66Ratio-to-moving-average forecast method625CHAPTER 67Forecasting in the presence of special events629CHAPTER 68An introduction to probability637CHAPTER 69An introduction to random variables647CHAPTER 70 he binomial, hypergeometric, and negative binomialTrandom variables653CHAPTER 71The Poisson and exponential random variable661CHAPTER 72The normal random variable and Z-scores665CHAPTER 73 eibull and beta distributions: Modeling machineWlife and duration of a project675CHAPTER 74Making probability statements from forecasts681CHAPTER 75 Using the lognormal random variable to model stock prices 685CHAPTER 76Importing historical stock data into Excel689CHAPTER 77Introduction to Monte Carlo simulation693CHAPTER 78Calculating an optimal bid703CHAPTER 79 Simulating stock prices and asset-allocation modeling709CHAPTER 80 un and games: Simulating gambling and sportingFevent probabilities717CHAPTER 81Using resampling to analyze data725CHAPTER 82Pricing stock options729CHAPTER 83Determining customer value741CHAPTER 84The economic order quantity inventory model747CHAPTER 85Inventory modeling with uncertain demand753CHAPTER 86Queuing theory: The mathematics of waiting in line759CHAPTER 87Estimating a demand curve765CHAPTER 88Pricing products by using tie-ins771CHAPTER 89 Pricing products by using subjectively determined demand 777CHAPTER 90Nonlinear pricing783CHAPTER 91Array formulas and functions791CHAPTER 92Recording macros811CHAPTER 93Advanced sensitivity analysis823Index825vii

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ContentsIntroduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxiiiChapter 1Basic worksheet modeling1Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Chapter 2Range names9How can I create named ranges? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Chapter 3Lookup functions21Syntax of the lookup functions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26Chapter 4The INDEX function29Syntax of the INDEX function. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31Chapter 5The MATCH function33Syntax of the MATCH function . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38Chapter 6Text functions and Flash Fill39Text function syntax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54ix

Chapter 7Dates and date functions57Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63Chapter 8NPV and XNPV functions65Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70Chapter 9IRR, XIRR, and MIRR functions71Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75Chapter 10 More Excel financial functions77Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85Chapter 11 Circular references89Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91Chapter 12 IF, IFERROR, IFS, CHOOSE, and SWITCH functions93Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110Chapter 13 Time and time functions115Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120Chapter 14 The Paste Special command121Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126Chapter 15 Three-dimensional formulas and hyperlinks127Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127xContents

Chapter 16 The auditing tool and the Inquire add-in133Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142Chapter 17 Sensitivity analysis with data tables143Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151Chapter 18 The Goal Seek command155Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158Chapter 19 Using the Scenario Manager for sensitivity analysis161Answer to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165Chapter 20 The COUNTIF, COUNTIFS, COUNT, COUNTA, andCOUNTBLANK functions167Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172Chapter 21 The SUMIF, AVERAGEIF, SUMIFS, AVERAGEIFS,MAXIFS, and MINIFS functions175Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179Chapter 22 The OFFSET function181Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190Chapter 23 The INDIRECT function193Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202Contentsxi

Chapter 24 Conditional formatting203Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224Chapter 25 Sorting in Excel229Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 229Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 236Chapter 26 Excel tables and table slicers237Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 237Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251Chapter 27 Spin buttons, scrollbars, option buttons, check boxes,combo boxes, and group list boxes253Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 254Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 262Chapter 28 The analytics revolution263Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 263Chapter 29 An introduction to optimization with Excel Solver269Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 272Chapter 30 Using Solver to determine the optimal product mix273Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 273Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 281Chapter 31 Using Solver to schedule your workforce283Answers to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 283Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 285Chapter 32 Using Solver to solve transportation or distributionproblems289Answer to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 289Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 292xiiContents

Chapter 33 Using Solver for capital budgeting295Answer to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 295Problems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300Chapter 34 Using Solver for financial planning303Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 307Chapter 35 Using Solver to rate sports teams309Answer to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 310Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 312Chapter 36 Warehouse location and the GRG Multistart andEvolutionary Solver engines313Understanding the GRG Multistart and Evolutionary Solver engines. . . . 313Answer to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 317Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320Chapter 37 Penalties and the Evolutionary Solver321Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 321Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 324Chapter 38 The traveling salesperson problem327Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 327Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 330Chapter 39 Importing data from a text file or document331Answers to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 331Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 335Chapter 40 Get & Transform337Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 338Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 344Contentsxiii

Chapter 41 Geography and Stock data types345Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 345Remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 348Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 349Chapter 42 Validating data351Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 351Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 357Chapter 43 Summarizing data by using histograms andPareto charts359Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 359Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 371Chapter 44 Summarizing data by using descriptive statistics373Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 374Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 388Chapter 45 Using pivot tables and slicers to describe data391Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 392Remarks about grouping . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 420Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 431Chapter 46 The Data Model435Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 435Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 442Chapter 47 Power Pivot443Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 444Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 457Chapter 48 Filled and 3D Power Maps459Questions answered in this chapter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 459Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 469xivContents

Chapter 49 Sparklines471Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 471Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 476Chapter 50 Summarizing data with database statistical functions477Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 479Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 484Chapter 51 Filtering data and removing duplicates485Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 487Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 498Chapter 52 Consolidating data501Answer to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 501Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 505Chapter 53 Creating subtotals507Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 507Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 511Chapter 54 Charting tricks513Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 514Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 546Chapter 55 Estimating straight-line relationships549Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 555Chapter 56 Modeling exponential growth557Answers to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 557Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 560Chapter 57 The power curve561Answer to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 563Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 565Contentsxv

Chapter 58 Using correlations to summarize relationships567Answer to this chapter’s question. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 569Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 572Chapter 59 Introduction to multiple regression573Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 573Chapter 60 Incorporating qualitative factors into multipleregression579Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 579Chapter 61 Modeling nonlinearities and interactions589Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 589Problems for Chapters 59 through 61. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 592Chapter 62 Analysis of variance: One-way ANOVA597Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 598Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 601Chapter 63 Randomized blocks and two-way ANOVA603Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 604Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 612Chapter 64 Using moving averages to understand time series613Problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 615Chapter 65 Winters method and the Forecast Sheet617Remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 621Excel’s Forecast Sheet Tool. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 621Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 624Chapter 66 Ratio-to-moving-average forecast method625Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 625Problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 628xviContents

Chapter 67 Forecasting in the presence of special events629Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 629Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 636Chapter 68 An introduction to probability637Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 637Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 643Chapter 69 An introduction to random variables647Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 647Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 650Chapter 70 The binomial, hypergeometric, and negative binomialrandom variables653Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 654Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 659Chapter 71 The Poisson and exponential random variable661Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 661Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 664Chapter 72 The normal random variable and Z-scores665Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 665Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 673Chapter 73 Weibull and beta distributions: Modeling machinelife and duration of a project675Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 675Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 679Chapter 74 Making probability statements from forecasts681Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 681Problems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 683Contentsxvii

Chapter 75 Using the lognormal random variable to modelstock prices685Answers to this chapter’s questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 685Remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 688Problems. . . . . . . . . . . . . . . . . . . . .

Microsoft Excel 2019 . Data Analysis and Business Modeling . Sixth Edition. Wayne L. Winston. Microsoft Excel 2019 Data Analysis and Business Modeling, Sixth Edition . CHAPTER 10 More Excel financial functions 77 CHAPTER 11. Circular references 89 CHAPTER 12 IF,

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