KS3 ICT | Models - financial information with spreadsheets

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ICT Quiz - Models 02 (Questions)

This KS3 ICT quiz is our second on models. Spreadsheets are frequently used for financial information because of their ability to re-calculate the entire sheet automatically after a change to a single cell is made. This is a simple way for businesses to see how small changes to prices or sales could affect their profits and losses.

Models work by taking a set of data and using rules to see how things change. The rules are represented using formulae, for example, profit is equal to the total sales minus the total cost of the wages, raw materials and other expenses. The data required to calculate the result of this formula will be contained in other cells. These can be read into the formula by making reference to the addresses of the other cells. In our example above, if the total sales is in cell B1, the wages figure in cell F8 and the total of the raw materials and other expenses in cell G14, the formula would be =B1-(F8+G14). The parentheses tell the spreadsheet to add the wages and expenses before subtracting them from the total sales.

Which of these is not a formula?

[ ]	=C3+F2*H5
[ ]	=C3-F2*$H5
[ ]	-C3/F2*H5
[ ]	=C3F2H5

Models represent real life situations using .......

[ ]	data and analysis
[ ]	data and intuition
[ ]	data and rules
[ ]	data and statistics

Spreadsheet models use ....... to represent rules.

[ ]	cells
[ ]	conditional formatting
[ ]	formulae
[ ]	symbols

The values in the spreadsheet cells act as .......

[ ]	information
[ ]	input
[ ]	macros
[ ]	reports

The formulae in the models act as .......

[ ]	calculations
[ ]	data
[ ]	enquiries
[ ]	processes

The formulae can create output as charts and graphs.

[ ]	Charts and graphs are the only form of output possible
[ ]	Charts and graphs are vital to understand predictions
[ ]	Charts and graphs can improve understanding of results
[ ]	Charts and graphs make the output more accurate

Spreadsheets are good at doing ....... analysis of data.

[ ]	how-why
[ ]	what-else
[ ]	what-if
[ ]	why-when

A model rule is: profit = number sold x saleprice - cost.

[ ]	A suitable formula might be: =D5x(C5-B5)
[ ]	A suitable formula might be: =D5x(C5/B5)
[ ]	A suitable formula might be: =D5*(C5-B5)
[ ]	A suitable formula might be: =D5^(C5-B5)

Models often include many rules because .......

[ ]	a single formula can only handle simple rules
[ ]	real world situations are often very complicated
[ ]	results can be achieved much quicker with more rules
[ ]	the more rules used, the more accurate the results

10.

Predictions made by models are usually .......

[ ]	approximate
[ ]	correct
[ ]	exact
[ ]	wrong

You can find more about this topic by visiting BBC Bitesize - Spreadsheets

ICT Quiz - Models 02 (Answers)

Which of these is not a formula?

[ ]	=C3+F2*H5
[ ]	=C3-F2*$H5
[x]	-C3/F2*H5
[ ]	=C3F2H5

Doesn't start with =

Models represent real life situations using .......

[ ]	data and analysis
[ ]	data and intuition
[x]	data and rules
[ ]	data and statistics

The rules decide what happens to the data

Spreadsheet models use ....... to represent rules.

[ ]	cells
[ ]	conditional formatting
[x]	formulae
[ ]	symbols

The formulae need to be set up very carefully to avoid incorrect results

The values in the spreadsheet cells act as .......

[ ]	information
[x]	input
[ ]	macros
[ ]	reports

These can be entered manually or calculated from data that has been entered into other cells

The formulae in the models act as .......

[ ]	calculations
[ ]	data
[ ]	enquiries
[x]	processes

These are effectively the rules that dictate how a model works. If just one of these is wrong, the whole model will fail

The formulae can create output as charts and graphs.

[ ]	Charts and graphs are the only form of output possible
[ ]	Charts and graphs are vital to understand predictions
[x]	Charts and graphs can improve understanding of results
[ ]	Charts and graphs make the output more accurate

Use them when they are useful - not just for looks

Spreadsheets are good at doing ....... analysis of data.

[ ]	how-why
[ ]	what-else
[x]	what-if
[ ]	why-when

For example: What happens to sales if tax rates increase?

A model rule is: profit = number sold x saleprice - cost.

[ ]	A suitable formula might be: =D5x(C5-B5)
[ ]	A suitable formula might be: =D5x(C5/B5)
[x]	A suitable formula might be: =D5*(C5-B5)
[ ]	A suitable formula might be: =D5^(C5-B5)

The 'rule' is represented by a formula entered in a cell

Models often include many rules because .......

[ ]	a single formula can only handle simple rules
[x]	real world situations are often very complicated
[ ]	results can be achieved much quicker with more rules
[ ]	the more rules used, the more accurate the results

Even simple situations can need many rules to model

10.

Predictions made by models are usually .......

[x]	approximate
[ ]	correct
[ ]	exact
[ ]	wrong

Rules are rarely perfect and may not have complete data