Use the excel sheet as a reference.

question one:

<Use LIST worksheet>

Let’s calculate the Closing Cost (in column M) for ALL properties. It is determined based on the Style of the property and is summarized in the look-up table in R24:T26. Note that on th elook-up table, the first column is the style of the property, the second column is the county code, and the third column is the corresponding closing cost. The county code is not used for the calculation. Select ALL of the correct answers below. You will have to get all the answers right in order to receive credit for this question.

a. The correct formula for property #101 is:

=VLOOKUP(M2,$R$24:$T$26,3,TRUE)

b. The correct formula for property #101 is:

=VLOOKUP(E2,$R$24:$T$26,3,FALSE)

c. The correct formula for property #101 is:

=VLOOKUP(M2,$R$24:$T$26,2,FALSE)

d.

The closing cost for property #125 is $400.

e.

The correct formula for property #101 is:

=VLOOKUP(E2,$R$24:$T$26,2,TRUE)

Question number two:

<Use LIST worksheet>

Go to the bottom of the list. The average of all the Sales Price is listed in cell J120. Notice that Propery #218 is listed but not sold yet. How much does Property #218 need to be sold at (to be shown in cell J119) in order for the average sales price to become $100,800? Only enter whole number in the answer box; no dollar sign, no comma, no decimal point.

<Hint: use goal seek to calculate the Sales Price of Property #218 in J119 based on the conidtion given above>

answer: __________

question three:

<Use TABLE worksheet>

Add a Total Row to the table. Display only the properties with 1 bathroom. What is the Average Sales Price of all the 1 bathroom properties? Write your answer in whle number; no dollar sign, no comma, no decimal.

answer: _____

question four :

<Use TABLE Worksheet>

Create a PivotTable to calculate summary statistics. Use the following filed as labels: Style, Bedroom, and Date Sold. And use the Sales Price as the value field. Answer the following questions:

1. What is the number of Condo properties with 2 bedrooms that were sold in May 2013? answer: ______

2. What is the average sales price for all the Ranch properties with 2 bedrooms sold in April 2013? answer: _______

Make sure you enter whole number only; no dollar sign, no comma, no decimal. You will need to get both answers right to receive credit for this question.

<Hint: Group the Date Sold field!>

question five:

<Use LIST worksheet>

Conditional format the column Sales Price to highlight the bottom 7% of the price in green. How many properties have a green highlighted cell?

a. 11

b. 10

c. 9

d. 8

e. 7

question six:

<Use LIST worksheet>

Calculate Condo Fee in column O. Only those properties that are condos with 2 or more bedrooms have to pay a condo fee of $150, listed in cell S7. Enter a formula to calculate condo fees for ALL the properties. What is the correct formula (use property #101 as an example)?

<Hint: Use IF statement to check two conditions: (1) if the property is a condo, and (2) if the property has 2 or more bedrooms.>

a. =IF(E2="Condo",150,IF(F2>=2,0,0)

b. =IF(AND(F2>=2,E2="Condo"),S7,0)

c. =IF(OR(E2="Condo",F2>=2),S7,0)

d. =IF(AND(E2="Condo",F2>=2),$S$7,0)

e. =IF(OR(F2<2,E2="Condo"),S$7,0)

question seven:

<Use LIST worksheet>

To calculate the warranty cost, the following criteria are used (as in R10:T12):

If a warranty is purchased (that is, the value in Warranty purchase is Y), then the warranty cost is determined by the age of the property. The cost is $200 when the age of the property is less than 5 years old, and $300 when it is greater than or equal to 5 years old. When a warranty is not purchased (that is, the value in Warranty purchase is N), the warranty cost is 0.

Use a nested IF formula to calculate the warranty cost in column L for All the properties (remember to autofill). Choose ALL the correct answers below. You have to pick all the correct answers to receive credit for this question.

1. The correct formula (using propery #121 as an example) is:

=IF(D22<5,200,IF(K22>=5,300,IF(K22="N",0)))

2. The correct formula (using propery #121 as an example) is:

=IF(K22="N",0,IF(D22>=5,300,200))

3. The correct formula (using propery #121 as an example) is:

=IF(D22="Y",300,IF(D22<5,200,0))

4. The warranty cost for property #119 is $300.

5. The warranty cost for property #158 is $200.

question eight:

<Use TABLE worksheet>

Sort the table in the following order:

Square Feet, largest to smallest

Style, A to Z

Age, smallest to largest

Date Sold, newset to oldest

Make sure you use the exact order with the correct criteria for each. What is the ID number (in column A) for the first property on the sorted list?

a. 128

b. 140

c. 153

d. 217

e. 193

question nine:

<Use LIST worksheet>

Enter a formula in the cell T29 to calculate the average Sales Price for all the properties with 2 bedrooms. Note that the number of Bedrooms is recorded in column F, and the Sales Price is in column J. Write the result shown in T29 in the answer box in whole number; no dollar sign, no comma, no decimal point.

<Hint: use AVERAGEIF>

answer: _____

Attachments:

ism_3011_lcvs_excel_exam_i_3.xlsx

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