Practice Midterm
Functions
AND(logical1, [logical2],…)
AVERAGE(number1, [number2]…)
AVERAGEIF(range, criteria, [average_range])
COUNT(value1, [value2],…)
COUNTIF(range, criteria)
RANK.EQ(Number, Ref, [Order])
ROUND(number,num_digits)
SMALL(array, k)
LARGE(array, k)
SUM(number1, [number2],…)
SUMIF(range, criteria, [sum_range])
AVERAGEIF(range, criteria, [average_range])
MAX(number1, [number2],…)
MIN(number1, [number2],…)
NOT(logical)
OR(logical1, [logical2],…)
FV(rate, nper, pmt, [pv], [type])
NPER(rate, pmt, pv, [fv], [type])
PMT(rate, nper, pv, [fv], [type])
PV(rate, nper, pmt, [fv], [type])
RATE(nper, pmt, pv, [fv], [type])
IF(logical_test,[value_if_true],[value_if_false])
HLOOKUP(lookup_value, table_array, row_index_no,[ range_lookup_type])
VLOOKUP(lookup_value, table_array, col_index_no, [range_lookup_type])
SUMIFS(sum_range,criteria_range1,criteria1,…)
AVERAGEIFS(average_range,criteria_range1,criteria1,…)
COUNTIFS(criteria_range1,criteria,…)
1
Practice Midterm
Problem:
Congratulations, you’ve just accepted a new job in Florida; the only hitch is you’ve got to sell your
lovely 3 bedroom home here in Columbus. The realtors who have been through have commented on
the cleanliness and urged you to hire professional cleaning services to clean your floors, heating duct
system, windows and lighting fixtures. Before embarking on this plan you’d like to get an estimate
of the costs that are involved, hence you have developed an Excel workbook and input the quotes
you have received from local cleaning service specialties.
You have created an Excel workbook with five spreadsheets as listed below and now will be writing
formulas to calculate by room the costs involved.
 Sheet dim contains information regarding the purpose of each room (public or private), the type
of floor (carpet, wood, or tile), the number of lighting fixtures, and the number of windows, in
that room. Dimensions for the room height are given in feet. Dimensions for room length and
width are given the number of feet and inches. You will need to convert these dimensions to feet
(ex: 12 foot 3 inches equals 12.25 feet) when calculating area. You will also be estimating the
number of heating registers (vents) for each room based on the volume of the room (length *
width * height).
 Sheet price contains the unit pricing you have obtained from local cleaning services including tile
floor cleaning, carpet cleaning, general floor cleaning, wall cleaning, light fixture cleaning and
window cleaning.
You also have a quote from a company to clean the ductwork. They have two pricing schemes
and they will apply the lower of the two based on the total number of registers estimated for your
home. A table of these pricing schemes is given in cells price!B10:E12 and has been named
register. The table lists the costs per register. If your home contains less than 10 registers the
cost per register is $25 for bid#1 and $20 for bid #2, if your home contains at least 10 registers
but less than 20 the cost per register is $21 for bid#1 and $19 for bid#2.
 Sheet units contains several conversion factors you may need in your calculations.
 Sheet calc is where you will complete most of your calculations and summarize your data.
 Sheet logic contains an analysis that you will complete comparing these costs to amounts you
have already budgeted.
Please note that for ease of use the order of the room areas for sheet dim, sheet calc and sheet logic
are the same.
2
Practice Midterm
1. Write an Excel formula in cell dim!K3, which can be copied down the column, to determine
the area of the corresponding room in square feet (SF).
=(F3+G3/units!B$2) * (H3+I3/units!B$2)
2. Write an Excel formula in cell dim!L3, which can be copied down the column, to determine
the estimated number of heating duct registers in a room based on the following algorithm:
Each room has one register plus one additional register for every 75 CY (cubic yards) of
room volume (length * width * height). Round the number of registers to the nearest whole
number.
=ROUND (K3*J3/units!B$6/units!B$7, 0 ) + 1
3. Write an Excel formula in cell calc!B3, which can be copied down the column, to determine
the cost of cleaning the floor of the corresponding room. The costs will depend on the type
of flooring (carpet, tile, and all other types) in the corresponding room and the price per unit
for that type of floor surface. ($/SF or $/SY).
=IF(dim!C3=”carpet”, dim!K3/units!B$4*price!C$3,
IF(dim!C3=”tile”, dim!K3*price!C$4, dim!K3*price!C$5)))
4. Your quote for the costs of cleaning the heating ducts (registers and associated ductwork) is
based on the estimated number of total registers in your home (dim!L11). Write an Excel
formula in cell calc!C3, which can be copied down the column, to determine cost of cleaning
your ducts for the corresponding room. Remember you have two possible pricing schemes
both based on the total number of ducts in your home. The scheme you will use is the
minimum cost scheme which your formula should determine automatically.
=dim!L3*MIN(HLOOKUP(dim!L$11,register,2,TRUE),
HLOOKUP(dim!L$11,register,3,TRUE))
5. Write an Excel formula in cell calc!D3, which can be copied down the column, to calculate
the cost to clean the light fixtures in the corresponding room.
=dim! D3 * price!C$7
6. Write an Excel formula in cell calc!E3, which can be copied down the column, to calculate
the cost to clean the windows in the corresponding room.
=dim!E3 * price!C$6
3
Practice Midterm
7. Write an Excel formula in cell calc!G3, which can be copied down the column, to determine
total cost of cleaning this room as a percentage of total cleaning costs. You many assume the
total costs of cleaning your home has already been calculated in cell calc!F11.
=F3/F$11
8. Write an Excel formula in cell calc!F12 (not shown) to automatically determine the total
cost to clean only those rooms which are “public” (Column B worksheet dim). The formula
should work even if you later redefine a room’s purpose.
=SUMIF(dim!B3:B10,"public",F3: F10)
9. Write an Excel formula in cell logic!D3, which can be copied down the column, to determine
if the cost of cleaning this room exceeded your budget. Your budget is given in column C.
=calc!F3>C3
10. Write an Excel formula in cell logic!E3, which can be copied down the column, to determine
if the cost of cleaning this room is within 10% of your budget (higher or lower).
=AND (calc!F3>=0.9*C3,calc!F3<=1.1*C3)
11. One way to finance this cleaning project is to pay 20% now and finance the rest with a bank.
You will pay back the loan over the next 18 months at an interest rate of 15% per year
compounded monthly. Write an Excel formula in cell calc!J15 (not shown) to determine
your monthly payment.
=PMT(0.15/12,18, 0.8*F11,0,0)
12. Another way to finance this unexpected expense is to cash in a bank CD which you started
two years ago. The CD was originally worth $500 and has been accumulating interest at the
rate of 5% per year compounded quarterly. Each quarter you have put in an additional $60.
Write an Excel formula in cell calc!J16 (not shown) to determine if the value of the CD today
covers the costs of the cleaning (true is will cover/false if it will not)?
=FV(0.05/4,8,-60,-500,0)>=F11
4
Practice Midterm
dim
A
1
2
3
4
5
6
7
8
9
10
11
12
B
C
Type of
Area
Purpose Floor
bedroom1
private carpet
bedroom2
private carpet
bedroom3
private carpet
living room public
wood
dining room public
wood
kitchen
public
vinyl
bath1
private tile
bath2
public
tile
totals
D
E
Number of
Number of
F
Light Fixtures Windows
1
1
1
1
1
2
0
2
1
1
2
2
1
1
1
0
G
H
Room Length
I
Room Width
Feet Inches
12
3
11
9
17
2
20
0
12
0
15
3
8
6
6
6
J
K
Height
Area
Feet
SF
131.7
176.3
230.3
308.3
144.0
282.1
46.8
35.8
1355.2
Feet
Inches
10
9
15
0
13
5
15
5
12
0
18
6
5
6
5
6
8
8
8
12
8
8
8
8
logic
price
1
2
3
4
5
6
7
8
9
10
11
12
A
Cleaning:
Floors
Carpet
Tile
All other Floor types
Windows
Light Fixtures
# Registers in Home
Cost per Register - Bid#1
Cost per Register - Bid#2
L
Number of
Registers
2
2
2
3
2
2
1
1
15
B
Unit
$/SY
$/SF
$/SF
$/each
$/each
$
$
C
Price/Unit
$
$
$
$
$
D
E
10
21 $
19 $
20
18 $
19 $
B
Room
bedroom1
bedroom2
bedroom3
living room
dining room
kitchen
bath1
bath2
totals
Purpose
private
private
private
public
public
public
private
public
C
D
E
Cost $ Clean
Cost $ Clean
Light Fixtures
$
12.50
$
12.50
$
12.50
$
$
12.50
$
25.00
$
12.50
$
12.50
$
100.00
Windows
$
25.00
$
25.00
$
50.00
$
50.00
$
25.00
$
50.00
$
25.00
$
$
250.00
1
2
3
4
5
6
7
8
9
10
11
5.00
1.25
1.00
25.00
12.50
0
25 $
20 $
A
50
15
17
C
Analysis:
Budget
$ 100.00
$ 200.00
$ 300.00
$ 500.00
$ 200.00
$ 500.00
$ 125.00
$ 100.00
$ 2,025.00
D
E
Over
Budget
TRUE
FALSE
FALSE
FALSE
TRUE
FALSE
FALSE
FALSE
Within 10% of
Budget
FALSE
FALSE
FALSE
FALSE
TRUE
FALSE
TRUE
FALSE
calc
A
units
1
2
3
4
5
6
7
A
Unit Conversions
inches per foot
feet per yard
square feet per square yard
square inches per square foot
cubic feet per cubic yard
cubic yard per register
B
12
3
9
144
27
75
1
2
3
4
5
6
7
8
9
10
11
B
Cost $ Clean Cost $ Clean
Room
bedroom1
bedroom2
bedroom3
living room
dining room
kitchen
bath1
bath2
totals
Floor
$
73.16
$
97.92
$
127.96
$
308.33
$
144.00
$
282.13
$
58.44
$
44.69
$ 1,136.61
Registers
$
38
$
38
$
38
$
57
$
38
$
38
$
19
$
19
$
285.00
5
F
G
H
% of
Total
$ 148.66
$ 173.42
$ 228.46
$ 415.33
$ 219.50
$ 395.13
$ 114.94
$ 76.19
$ 1,771.61
Total
8%
10%
13%
23%
12%
22%
6%
4%
Room
bedroom1
bedroom2
bedroom3
living room
dining room
kitchen
bath1
bath2