tag:blogger.com,1999:blog-54902334091660858452024-02-07T02:54:28.488-08:00Business Modeling Using ExcelDr. Umesh Rao. Hodeghatta, Ph.D (IIT Kharagpur)http://www.blogger.com/profile/12673443068097073958noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-5490233409166085845.post-47974934843779528682013-07-12T18:48:00.000-07:002013-07-13T09:35:49.148-07:00Introduction<!--[if !mso]>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Business Modeling</span></b></div>
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<span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Everyone uses models to make decisions. For example,
if you are arranging the furniture in your house, you mentally model your room
space and create a model in your mind to keep the furniture in a certain way. Similarly, a road
map, which is a visual model, helps you in reaching your destination. Miniature model of a
structure helps in visualizing the structure once it is complete.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Refer class ppt</span></b></div>
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<span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">A Data
Model allows the building of a “model” where data from different sources are
combined by creating “relationships” between the data sources.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">What is Microsoft Excel?</span></b></div>
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<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Excel is a spreadsheet program in the Microsoft Office
system. You can use Excel to create and format workbooks (a collection of
spreadsheets) in order to analyze data and make more informed business
decisions. Specifically, you can use Excel to track data, build models for
analyzing data, write formulas to perform calculations on that data, pivot the
data in numerous ways, and present data in a variety of professional looking
charts.</span></div>
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<span style="color: #444444; font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Accounting:</span></b><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-spacerun: yes;"> </span>You can use the powerful calculation features
of Excel in many financial accounting statements—for example, a cash flow
statement, income statement or profit and loss statement.</span></div>
<div class="MsoNormal" style="line-height: 150%; margin-left: 15.0pt; mso-list: l3 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<span style="color: #444444; font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Budgeting:</span></b><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-spacerun: yes;"> </span>Whether your needs are personal or business
related, you can create any type of budget in Excel—for example, a marketing
budget plan, an event budget, or a retirement budget.</span></div>
<div class="MsoNormal" style="line-height: 150%; margin-left: 15.0pt; mso-list: l3 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<span style="color: #444444; font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Billing and sales:</span></b><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-spacerun: yes;"> </span>Excel is also useful for managing billing and
sales data, and you can easily create the forms that you need—for example, sales
invoices, packing slips, or purchase orders.</span></div>
<div class="MsoNormal" style="line-height: 150%; margin-left: 15.0pt; mso-list: l3 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<span style="color: #444444; font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Reporting:</span></b><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"> You can create
various types of reports in Excel that reflect your data analysis or summarize
your data—for example, reports that measure project performance, show variance
between projected and actual results, or reports that you can use to forecast
data. </span></div>
<div class="MsoNormal" style="line-height: 150%; margin-left: 15.0pt; mso-list: l3 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<span style="color: #444444; font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Planning:</span></b><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"> Excel is a great tool
for creating professional plans or useful planners—for example, a weekly class
plan, a marketing research plan, a year-end tax plan, or planners that help you
organize weekly meals, parties, or vacations.</span></div>
<div class="MsoNormal" style="line-height: 150%; margin-left: 15.0pt; mso-list: l3 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -.25in;">
<span style="color: #444444; font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Tracking:</span></b><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"> You can use Excel to
keep track of data in a time sheet or list—for example, a time sheet for
tracking work, or an inventory list that keeps track of various equipment.</span><br />
<br />
<span style="font-size: large;"><b><span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Data Entry </span></b></span><br />
<span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Enter data in a worksheet</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: 14.25pt; margin-right: 0in; margin-top: 0in; mso-list: l0 level1 lfo2; tab-stops: list .75in; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Click
the <b style="mso-bidi-font-weight: normal;">cell</b> where you want to enter
the data.</span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: 14.25pt; margin-right: 0in; margin-top: 0in; mso-list: l0 level1 lfo2; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Type
the data in the cell – You can type numbers, texts or dates</span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: 14.25pt; margin-right: 0in; margin-top: 0in; mso-list: l0 level1 lfo2; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Press
enter or tab to move to the next cell.</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihg5sPEu7mNn7k6j8pk8p_Dvr6aKbMZWgcULDpzxM6zkeEXTw2S0u_NFMcHyEvg-vPei8VWs7RdFnlKLTv4YVxpIl-CtLSDPIAEubnqM2cyKNjqgM7emTnVTMFqXrVdfmKL2nK80wceqw/s1600/image003.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihg5sPEu7mNn7k6j8pk8p_Dvr6aKbMZWgcULDpzxM6zkeEXTw2S0u_NFMcHyEvg-vPei8VWs7RdFnlKLTv4YVxpIl-CtLSDPIAEubnqM2cyKNjqgM7emTnVTMFqXrVdfmKL2nK80wceqw/s1600/image003.png" style="cursor: move;" /></a></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt;">
<span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"><span id="goog_805240134"></span><span id="goog_805240135"></span></span><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></div>
<div class="MsoNormal" style="mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-size: large;"><b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Formatting
Data</span></b></span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in; mso-list: l5 level1 lfo3; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Select
the cells that you want to format.</span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in; mso-list: l5 level1 lfo3; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">On
the <b>Home</b> tab, in the <b>Number</b> group, click the <b>Dialog Box
Launcher</b> next to <b>Number</b> (or just press CTRL+1).<span style="mso-no-proof: yes;"> </span></span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in;">
<span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqeD6Lw2b87_s2LIBc3udmUHb6KMYNbKnbcJmMagxaETyrvfrcvSv4B52izRo2Tj2zhKQ_Q_XSEeuZjB_slzqpfLZUzY8Ijdq4EPACDOghiNoEoeqzTl5Xtj7T4hdhtveT8pme4QooVrQ/s1600/image004.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqeD6Lw2b87_s2LIBc3udmUHb6KMYNbKnbcJmMagxaETyrvfrcvSv4B52izRo2Tj2zhKQ_Q_XSEeuZjB_slzqpfLZUzY8Ijdq4EPACDOghiNoEoeqzTl5Xtj7T4hdhtveT8pme4QooVrQ/s1600/image004.png" /></a></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in; mso-list: l5 level1 lfo3; tab-stops: list .5in; text-indent: -.25in;">
<span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;"><br /><span style="font: 7.0pt "Times New Roman";"> </span></span></span></div>
<br />
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in; mso-list: l5 level1 lfo3; tab-stops: list .5in; text-indent: -.25in;">
<span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;"><br /><span style="font: 7.0pt "Times New Roman";"> </span></span></span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in; mso-list: l5 level1 lfo3; tab-stops: list .5in; text-indent: -.25in;">
<br />
<br />
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">In
the <b>Category</b> list, click the format that you want to use, and then
adjust settings, if necessary. For example, if you are using number format, you
can select different options for representing numbers – decimal points, -ve
numbers. If you’re using the Currency format, you can select a different
currency symbol, show more or fewer decimal places, or change the way negative
numbers are displayed.</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-c9CczFkWJTOpAjMdAs4ysG_gAOsqrgaYDf9JeOlEX_ZLQjCa58YwnqbMKhZaoXjlueiQJjdFC2PHlEz3tCuW_WI-h_l7aYKWpdGN63RrjUvmkScayJfvXbgTnuQX9taNqmL6vbbJN0Y/s1600/image005.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="287" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-c9CczFkWJTOpAjMdAs4ysG_gAOsqrgaYDf9JeOlEX_ZLQjCa58YwnqbMKhZaoXjlueiQJjdFC2PHlEz3tCuW_WI-h_l7aYKWpdGN63RrjUvmkScayJfvXbgTnuQX9taNqmL6vbbJN0Y/s1600/image005.png" width="320" /></a></div>
<div class="MsoNormal" style="mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3;">
<span style="color: #444444; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></b></div>
<div class="MsoNormal" style="mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3;">
<br /></div>
<div class="MsoNormal" style="mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3;">
<span style="font-size: large;"><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Create a formula</span></b></span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in; mso-list: l1 level1 lfo4; tab-stops: list 1.5in; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">In
a cell, type an equal sign (<b>=</b>) to start the formula.</span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in; mso-list: l1 level1 lfo4; tab-stops: list 1.5in; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Type
a combination of numbers and operators; for example, <b>3+5*7</b>.</span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in; mso-list: l1 level1 lfo4; tab-stops: list 1.5in; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Use
the mouse to select other cells (inserting an operator between them). For
example, select B1 and then type a plus sign (<b>+</b>), select C1 and type <b>+</b>,
and then select D1.</span></div>
<div class="MsoNormal" style="line-height: 17.15pt; margin-bottom: 5.25pt; margin-left: -3.75pt; margin-right: 0in; margin-top: 0in; mso-list: l1 level1 lfo4; tab-stops: list 1.5in; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Press
ENTER when you finish typing to complete the formula.</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifVghJbLCoADEiFZNRPd2cDF9kf5OS-vzKyB7wKjl0a3CtbiKsfUKJRdVa0si9NBGAvqWDEOs-YQF7XmUoCikCeT8JCTOHY29ID8sm5wHpqwXMcteTH6aHCpzBlJvY1-oJO11rnyFjBhc/s1600/image007.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="127" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifVghJbLCoADEiFZNRPd2cDF9kf5OS-vzKyB7wKjl0a3CtbiKsfUKJRdVa0si9NBGAvqWDEOs-YQF7XmUoCikCeT8JCTOHY29ID8sm5wHpqwXMcteTH6aHCpzBlJvY1-oJO11rnyFjBhc/s1600/image007.png" width="320" /></a></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
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<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-no-proof: yes;"></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt;"></span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-no-proof: yes;"></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt;"></span></b></div>
<div class="MsoNormal" style="line-height: 150%;">
<span style="font-family: Arial,Helvetica,sans-serif; font-size: large;"><b style="mso-bidi-font-weight: normal;">What are Excel Functions?</b></span></div>
<div class="MsoNormal" style="line-height: 150%;">
<span style="font-family: Arial,Helvetica,sans-serif;">Excel
functions are the set of formulas that are built-in inside the Excel
application to do calculations and provide only the desired values in a cell.</span></div>
<div class="MsoNormal" style="line-height: 150%;">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">T</span>he MS Excel application supports several functions which
are classified into the following categories:</span></div>
<div style="line-height: 150%; margin-left: .5in; mso-list: l2 level1 lfo5; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="-moz-font-feature-settings: normal; -moz-font-language-override: normal; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><span style="font-size: 11.0pt; line-height: 150%;">Math and trigonometry – Supports mathematical
calculations such as calculating cosines, tangents, logarithms, roots, etc.</span></span></div>
<div style="line-height: 150%; margin-left: .5in; mso-list: l2 level1 lfo5; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="-moz-font-feature-settings: normal; -moz-font-language-override: normal; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><span style="font-size: 11.0pt; line-height: 150%;">Financial – Facilitates the calculation and
generation of financial models for the calculation of interest, depreciation,
payments, etc.</span></span></div>
<div style="line-height: 150%; margin-left: .5in; mso-list: l2 level1 lfo5; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="-moz-font-feature-settings: normal; -moz-font-language-override: normal; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><span style="font-size: 11.0pt; line-height: 150%;">Statistics – To facilitate the calculation of
statistical models to calculate the mean, variance, distributions, hypothesis
testing, etc.</span></span></div>
<div style="line-height: 150%; margin-left: .5in; mso-list: l2 level1 lfo5; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="-moz-font-feature-settings: normal; -moz-font-language-override: normal; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><span style="font-size: 11.0pt; line-height: 150%;">Database - Functions to manage and calculate
list of data that are in our Excel spreadsheets.</span></span></div>
<div style="line-height: 150%; margin-left: .5in; mso-list: l2 level1 lfo5; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="-moz-font-feature-settings: normal; -moz-font-language-override: normal; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><span style="font-size: 11.0pt; line-height: 150%;">Engineering - To perform calculations
relating to engineering-based models</span></span></div>
<div style="line-height: 150%; margin-left: .5in; mso-list: l2 level1 lfo5; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="-moz-font-feature-settings: normal; -moz-font-language-override: normal; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><span style="font-size: 11.0pt; line-height: 150%;">Text - Functions to manipulate, convert and
calculate strings</span></span></div>
<div style="line-height: 150%; margin-left: .5in; mso-list: l2 level1 lfo5; tab-stops: list .5in; text-indent: -.25in;">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="-moz-font-feature-settings: normal; -moz-font-language-override: normal; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><span style="font-size: 11.0pt; line-height: 150%;">Logic – Excel functions to establish logical
conditions for calculations (such as AND, OR, IF, etc.)</span></span></div>
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<span style="font-family: Arial,Helvetica,sans-serif;"><span class="letra1"><span style="font-family: Symbol; font-size: 10.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="-moz-font-feature-settings: normal; -moz-font-language-override: normal; font-size-adjust: none; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span></span><span class="letra1"><span style="font-size: 11.0pt; line-height: 150%;">User
Defined – You can create your own functions called macros that can be
incorporated into your spreadsheets</span></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHixAVB5n2weoUx6c2kGFiJexrGiPyadN854OJKrtCHvXsdTg7OwBYdKCsLPSeRLDSxoGXCjBvLk7Hufp-Pwc2AGQn_uXlqeIuWuo4Bx1jMu0TEGt9k0zoqYSrKq1VX4_hyrS2m3lN9rg/s1600/image009.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="114" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHixAVB5n2weoUx6c2kGFiJexrGiPyadN854OJKrtCHvXsdTg7OwBYdKCsLPSeRLDSxoGXCjBvLk7Hufp-Pwc2AGQn_uXlqeIuWuo4Bx1jMu0TEGt9k0zoqYSrKq1VX4_hyrS2m3lN9rg/s1600/image009.png" width="320" /></a></div>
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<span style="font-size: large;"><b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Function: AVERAGE</span></b></span></div>
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<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Returns the average (arithmetic mean) of the arguments. For
example, if the </span><span style="color: windowtext; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman"; text-decoration: none; text-underline: none;">range<span style="display: none; mso-hide: all;"> (range: Two or more cells on a sheet. The
cells in a range can be adjacent or nonadjacent.)</span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">
B2:B12 contains numbers, the formula <b>=AVERAGE(B2:B12)</b> returns the
average of those numbers.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Syntax</span></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhckI1nvHXN3rnMnEF5UWWTa_5bLeXT5Tcb0Bn0aDXd_WJ2JaQ3BSwBO1-D8uvChg5bmTl-9igfh_7x9lMVARpreThq2tPqZQyQibySjVV-3rs6azBwoFpQxNLS4rNT0BDG0kYKw6mm4wY/s1600/image011.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhckI1nvHXN3rnMnEF5UWWTa_5bLeXT5Tcb0Bn0aDXd_WJ2JaQ3BSwBO1-D8uvChg5bmTl-9igfh_7x9lMVARpreThq2tPqZQyQibySjVV-3rs6azBwoFpQxNLS4rNT0BDG0kYKw6mm4wY/s1600/image011.png" /></a></div>
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<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">The AVERAGE function syntax has the following </span><span style="color: windowtext; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman"; text-decoration: none; text-underline: none;">arguments<span style="display: none; mso-hide: all;"> (argument: A value that provides information to an action, an
event, a method, a property, a function, or a procedure.)</span></span><a href="http://www.blogger.com/null"><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">:</span></a></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Number1:
Required.</span></b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"> The first number, cell reference, or range for which you
want the average</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Number2:
Optional:</span></b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"> Additional number, cell references or ranges</span></div>
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<span style="font-family: "Arial","sans-serif"; mso-no-proof: yes;"></span><span style="font-family: "Arial","sans-serif";"></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjCHVa0PEcBe3kNvpKnEATpBr22mOC3wg68XTxBJBrtEL-XafJaOwAQjfaduNkD2GxYTxKWfcmIAwzgL08yY-Sck31ADdbv9AfLn8EY9jzPFOb5V7YZ6e1zoDdjrXReNOwcff-AQK5sVaI/s1600/image012.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjCHVa0PEcBe3kNvpKnEATpBr22mOC3wg68XTxBJBrtEL-XafJaOwAQjfaduNkD2GxYTxKWfcmIAwzgL08yY-Sck31ADdbv9AfLn8EY9jzPFOb5V7YZ6e1zoDdjrXReNOwcff-AQK5sVaI/s1600/image012.png" /></a></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Step 1:</span></b><span style="font-family: "Arial","sans-serif";"> In cell B13, enter = AVERAGE(B2:B12)</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Step 2:</span></b><span style="font-family: "Arial","sans-serif";"> Hit enter</span></div>
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<span style="font-size: large;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Function: MAX</span></b></span></div>
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<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Returns the largest value in a set
of values</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">Syntax</span></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4U1XRbcdx7frE_ftG7heVI12n155BzJgptRAcT_9dFZ4AeiGVGNKbrrTwJyJfMoA0oGsLojYvhersGFP9Qnt6W2urWjYMiP548R2lhD6WiqFqLxJWzPW7vivEIJI_VIWfveUQRR8qFMo/s1600/image013.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4U1XRbcdx7frE_ftG7heVI12n155BzJgptRAcT_9dFZ4AeiGVGNKbrrTwJyJfMoA0oGsLojYvhersGFP9Qnt6W2urWjYMiP548R2lhD6WiqFqLxJWzPW7vivEIJI_VIWfveUQRR8qFMo/s1600/image013.png" /></a></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";"></span></b></div>
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<span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">The
MAX function syntax has the following </span><span style="color: windowtext; font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman"; text-decoration: none; text-underline: none;">arguments<span style="display: none; mso-hide: all;"> (argument: A value that provides
information to an action, an event, a method, a property, a function, or a
procedure.)</span></span><a href="http://www.blogger.com/null"><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">:</span></a></div>
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<span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">Number1,
number2…</span></div>
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<span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">Number1,
number2, ...</span></b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";"> Number1
is required, subsequent numbers are optional.</span><span style="font-family: "Arial","sans-serif";"></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Example:</span></b><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXWqFNSCeCDOp0a62l1WXIWFnZJd3bPyVyaxtgum8-16zpa_zSah9mOJfVSTSetjGU7sQjzy_-ackqLFNYj5ZlZSwjPkWDwBWTR1LS07CCoQDqlnEWbczGhexLlZghijmBQVB9Ac6S5JE/s1600/image015.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXWqFNSCeCDOp0a62l1WXIWFnZJd3bPyVyaxtgum8-16zpa_zSah9mOJfVSTSetjGU7sQjzy_-ackqLFNYj5ZlZSwjPkWDwBWTR1LS07CCoQDqlnEWbczGhexLlZghijmBQVB9Ac6S5JE/s1600/image015.jpg" /></a><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Step 1:</span></b><span style="font-family: "Arial","sans-serif";"> To find maximum number from a series
of values, B2 to B12, enter =MAX(B2:B12) in cell B13</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Step 2:</span></b><span style="font-family: "Arial","sans-serif";"> Hit enter</span></div>
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";"> </span></b><span style="font-family: "Arial","sans-serif"; mso-no-proof: yes;"> </span></div>
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The answer is 20<br />
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<span style="font-family: "Arial","sans-serif"; mso-no-proof: yes;"></span><span style="font-family: "Arial","sans-serif";"></span></div>
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<span style="font-family: "Arial","sans-serif";">To find the
maximum number of B2 to B12 and 25:</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Step 1:</span></b><span style="font-family: "Arial","sans-serif";"> =MAX(B2:B12,25)</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-no-proof: yes;"></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";"></span></b></div>
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<span style="font-size: large;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Function: MIN</span></b></span></div>
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<span style="font-family: "Arial","sans-serif";">MIN function
Returns <b style="mso-bidi-font-weight: normal;">the smallest number</b> in a set
of values.</span></div>
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<span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">The
MIN function syntax has the following </span><span style="color: windowtext; font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman"; text-decoration: none; text-underline: none;">arguments<span style="display: none; mso-hide: all;"> (argument: A value that provides
information to an action, an event, a method, a property, a function, or a
procedure.)</span></span><a href="http://www.blogger.com/null"><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">:</span></a></div>
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<span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">Number1,
number2…</span></div>
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<span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">Number1,
number2, ...</span></b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";"> Number1
is required, subsequent numbers are optional.</span><span style="font-family: "Arial","sans-serif";"></span></div>
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<span style="font-size: large;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Function: SUM</span></b></span></div>
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<span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt;">The <b>SUM</b>
function adds all the numbers that you specify. </span><span style="font-family: "Arial","sans-serif"; line-height: 115%; mso-bidi-font-size: 9.5pt;">Each argument can be a </span><span style="color: windowtext; font-family: "Arial","sans-serif"; line-height: 115%; mso-bidi-font-size: 9.5pt; text-decoration: none; text-underline: none;">range<span style="display: none; mso-hide: all;"> (range: Two or more cells on a sheet. The cells in a range
can be adjacent or nonadjacent.)</span></span><span style="font-family: "Arial","sans-serif"; line-height: 115%; mso-bidi-font-size: 9.5pt;">, a </span><span style="color: windowtext; font-family: "Arial","sans-serif"; line-height: 115%; mso-bidi-font-size: 9.5pt; text-decoration: none; text-underline: none;">cell reference<span style="display: none; mso-hide: all;"> (cell reference: The set of coordinates
that a cell occupies on a worksheet. For example, the reference of the cell
that appears at the intersection of column B and row 3 is B3.)</span></span><span style="font-family: "Arial","sans-serif"; line-height: 115%; mso-bidi-font-size: 9.5pt;">,
an </span><span style="color: windowtext; font-family: "Arial","sans-serif"; line-height: 115%; mso-bidi-font-size: 9.5pt; text-decoration: none; text-underline: none;">array<span style="display: none; mso-hide: all;"> (array: Used to build single formulas
that produce multiple results or that operate on a group of arguments that are
arranged in rows and columns. An array range shares a common formula; an array
constant is a group of constants used as an argument.)</span></span><a href="http://www.blogger.com/null"><span style="font-family: "Arial","sans-serif"; line-height: 115%; mso-bidi-font-size: 9.5pt;">.</span>
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<b><span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt;">SUM(B2:B12)</span></b><span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt;"> adds all the
numbers that are contained in cells B2 through B12.</span><br />
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<span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt;">For
another example, <b>SUM(B2, B3, B7)</b> adds the numbers that are contained in
cells B2, B3, and B7.</span><span style="font-family: "Arial","sans-serif"; font-size: 16.0pt; mso-bidi-font-size: 12.0pt;"></span></div>
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<span style="font-size: large;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Function: IF</span></b></span></div>
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<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">The <b>IF</b> function returns one
value if a condition you specify evaluates to TRUE, and another value if that
condition evaluates to FALSE. For example, the formula <b>=IF(B2>17,"Greater
than 10", "Less than 10")</b> returns "Greater than
10" if B2 is greater than 10, and "Less than 10" if B2 is less
than or equal to 10.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-no-proof: yes;"></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt;"></span></b></div>
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<span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">The
IF function syntax has the following </span><span style="color: windowtext; font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman"; text-decoration: none; text-underline: none;">arguments<span style="display: none; mso-hide: all;"> (argument: A value that provides
information to an action, an event, a method, a property, a function, or a
procedure.)</span></span><span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">:</span></div>
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<span style="font-family: Symbol; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">logical_test
(</span></b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">Required)<b style="mso-bidi-font-weight: normal;">:</b> Any value or expression that can be
evaluated to TRUE or FALSE. </span></div>
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<span style="font-family: Symbol; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">value_if_true</span></b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";"> (Optional): The value that
you want to be returned if the <b><i>logical_test</i></b> argument evaluates to
TRUE. </span></div>
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<span style="font-family: Symbol; line-height: 150%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">value_if_false</span></b><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";"> (Optional): The value that
you want to be returned if the <b><i>logical_test</i></b> argument evaluates to
FALSE. </span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">Example:</span></b></div>
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<span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">Step 1: B2 = 15</span></div>
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<span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; line-height: 150%; mso-bidi-font-size: 9.5pt; mso-fareast-font-family: "Times New Roman";">Step 2: Enter in C3
=IF(B2>=17,"greater than 17”, “Less than 17”)</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpaA-mxa2N6ieY_J10qWgnEfaYBHO6Gtjrjz6SUmYzV78wACLyZKtoBW_MiN4Sc2p6_6ZpbbDD6hKdk5FbTj6GOSG11epWnmBof8mtj0YS8JjoJ8IdbxQJgJ3NWPkoryfXqYN8KKz0VAQ/s1600/image023.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="54" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpaA-mxa2N6ieY_J10qWgnEfaYBHO6Gtjrjz6SUmYzV78wACLyZKtoBW_MiN4Sc2p6_6ZpbbDD6hKdk5FbTj6GOSG11epWnmBof8mtj0YS8JjoJ8IdbxQJgJ3NWPkoryfXqYN8KKz0VAQ/s1600/image023.png" width="320" /></a></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">If
you want to assign grade for cell B2 > 15 = A+, if less than 15 is B</span></div>
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Dr. Umesh Rao. Hodeghatta, Ph.D (IIT Kharagpur)http://www.blogger.com/profile/12673443068097073958noreply@blogger.com1tag:blogger.com,1999:blog-5490233409166085845.post-37995945025222972032013-07-11T11:27:00.000-07:002015-10-28T09:07:23.373-07:00COUNTIF Function <div class="MsoListParagraphCxSpFirst">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Function <b style="mso-bidi-font-weight: normal;">COUNTIF</b></span></div>
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<span style="color: #555555; font-family: "Arial","sans-serif";">Counts the number of cells within a range that meet the given
criteria.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbNXYB1g-BiUp6A04khUAnJ0CA5bySQAG3OQrs8iEVOvqAa6m8kTcgoCsLfJh5gr3AK10V84Dt36wq5aXf0RM82LMvkDv_VGaZqUqBWzxbbUYkoTEuqK4V8zsc1zvwIN1XfOsUYUu_0E0/s1600/image001.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbNXYB1g-BiUp6A04khUAnJ0CA5bySQAG3OQrs8iEVOvqAa6m8kTcgoCsLfJh5gr3AK10V84Dt36wq5aXf0RM82LMvkDv_VGaZqUqBWzxbbUYkoTEuqK4V8zsc1zvwIN1XfOsUYUu_0E0/s1600/image001.png" height="138" width="320" /></a></div>
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<b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">COUNTIF</span></b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">(<b>range</b>,<b>criteria</b>)</span></div>
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<b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Range</span></b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"> is the number of cells to count – in this example,
B2 to B9</span></div>
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<b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Criteria</span></b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"> is the criteria we define to count the number of cells
– here, we specify the criteria as “>17” i.e, <span style="mso-spacerun: yes;"> </span>any cell containing a number greater than 17. </span></div>
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<span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">The answer therefore
is 5.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4cQIeE-hHlMNJEZ5EGUsAVmnbxx63oRuV7x0gFSL2wv0Op4LXRsK78JeM3BcB2UQXsxlkgc-Rcu3guCmIomEzeRkDtlT2vj8wknU9dC7NtUtnIXLsFPcOQi6ZDlhvDD61LY2TrltbzYw/s1600/image003.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4cQIeE-hHlMNJEZ5EGUsAVmnbxx63oRuV7x0gFSL2wv0Op4LXRsK78JeM3BcB2UQXsxlkgc-Rcu3guCmIomEzeRkDtlT2vj8wknU9dC7NtUtnIXLsFPcOQi6ZDlhvDD61LY2TrltbzYw/s1600/image003.png" height="242" width="320" /></a></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-no-proof: yes;"><br /></span></b></div>
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<span style="font-family: "Arial","sans-serif";">Another
example of the Countif function using text – the criteria being “B+” where the
cells containing B+ are being counted. The answer for this is 3.</span></div>
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Dr. Umesh Rao. Hodeghatta, Ph.D (IIT Kharagpur)http://www.blogger.com/profile/12673443068097073958noreply@blogger.com0tag:blogger.com,1999:blog-5490233409166085845.post-13355639714819453052013-07-10T11:44:00.000-07:002013-08-08T21:47:28.131-07:00SUMIF Function<div class="Section1">
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<span style="font-family: "Arial","sans-serif";">Function <b style="mso-bidi-font-weight: normal;">SUMIF</b></span></div>
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<span style="color: #555555; font-family: "Arial","sans-serif";">Adds the cells specified by a given criteria.</span></div>
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<b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">SUMIF</span></b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">(<b>range</b>,<b>criteria, sum_range</b>)</span></div>
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<b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Range</span></b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"> is the number of cells to count – in this example, C2
to C22</span></div>
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<b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Criteria</span></b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"> is the criteria we specify to define which cells
will be added – here, we specify the criteria as “>125000” i.e,<span style="mso-spacerun: yes;"> </span>any cell containing a number greater than 125000
are added to get the sum. </span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">Sum_range </span></b><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">are the actual cells whose
data is being summed up only if their data matches with the criteria specified.
If this is not mentioned, the range specified in the “<b style="mso-bidi-font-weight: normal;">range</b>” is considered and their data is summed up if the criterion
is matched. Here the sum_range is F2 to F22</span></div>
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<span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">The answer therefore
is 2129508.30 </span></div>
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<span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span><span style="color: #555555; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"></span></div>
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<span style="font-family: "Arial","sans-serif";">Another
example of the SUMIF function using text – the criteria being “Attorney” where
the cells containing the data “Attorney” are being considered and their salaries
are summed up. The answer for t<span style="font-size: small;">hi</span>s is </span><span style="color: black; font-family: "Arial","sans-serif"; font-size: xx-small; line-height: 115%; mso-fareast-font-family: "Times New Roman";">1252372.15. Notice that the range has changed from “C” cells to “B”
cells.</span></div>
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Dr. Umesh Rao. Hodeghatta, Ph.D (IIT Kharagpur)http://www.blogger.com/profile/12673443068097073958noreply@blogger.com0tag:blogger.com,1999:blog-5490233409166085845.post-1037878625974451382013-07-09T20:35:00.000-07:002015-10-28T09:07:40.073-07:00Case - Coffee Beans Pricing<br />
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<b>Contribution:</b><br />
u11321-Paarki Malhotra, paarkhimerotra11@gmail.com <br />
u113099-Prachi Agarwal, prachi.agarwal09@gmail.com<br />
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<span lang="EN-IN">Coffee beans can be purchased according to
this price schedule: </span></div>
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<span lang="EN-IN">For the first 500 Quintal, Rs.5000 per quintal</span></div>
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<span lang="EN-IN">For the next 1000 quintal, Rs 4000 per quintal</span></div>
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<span lang="EN-IN">For anything beyond 1000, Rs 3000 per quintal</span></div>
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<span lang="EN-IN">Create a spreadsheet model that will
calculate the total price of buying x quintals of coffee, where x is a number
to be entered into a cell on the spreadsheet. (x = 800, x= 1200, x = 300).</span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN">STEP
1</span></b></div>
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<span lang="EN-IN">Create a table array indicating the rates
of coffee beans at different levels of quantity purchased, or simply, the rate
list.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN">STEP
2</span></b></div>
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<span lang="EN-IN">Create the output table, where quantity
purchased is a variable input and the output is the total cost of the purchase,
subject to the rate list created above.</span></div>
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<span style="mso-ansi-language: EN-US; mso-no-proof: yes;"></span></div>
<span lang="EN-IN" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-IN; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br clear="all" style="mso-special-character: line-break; page-break-before: always;" />
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<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN">STEP
3</span></b></div>
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<span lang="EN-IN">Use ‘IF’ function, as shown below, to model
the total cost of coffee.</span></div>
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Dr. Umesh Rao. Hodeghatta, Ph.D (IIT Kharagpur)http://www.blogger.com/profile/12673443068097073958noreply@blogger.com0tag:blogger.com,1999:blog-5490233409166085845.post-56312136588848644062013-07-09T07:56:00.000-07:002015-10-28T09:07:54.055-07:00Case 1 - What-If-Analysis<!--[if !mso]>
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<br />
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3;">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">WHAT-IF Scenarios - Create Different
Scenarios</span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3;">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">BOOK STORE<span style="mso-tab-count: 3;"> </span></span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3;">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">"Assume you own a book store
and have 1000 books in storage. You sell a certain % for the highest price of
2500 and a certain % for the lower price of 100."<span style="mso-tab-count: 4;"> </span></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; mso-add-space: auto; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3; text-indent: -.25in;">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span></b><b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">If
you sell 60% for the highest price, revenue will be:-------------<span style="mso-tab-count: 4;"> </span></span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; mso-add-space: auto; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">WHAT-IF you sell 70% of highest
priced book?<span style="mso-tab-count: 2;"> </span></span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; mso-add-space: auto; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">WHAT-IF you sell 80% of the highest
priced book?<span style="mso-tab-count: 2;"> </span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">You can simply type in a different percentage (books sold) into
cell XX (E9) to see the corresponding result of a scenario (revenues) in cell YY(D14).
OR, use <b style="mso-bidi-font-weight: normal;">what-if analysis</b> to easily
compare the results of different scenarios.</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">WHAT-IF
Analysis</span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">
</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";"></span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman";">1. On the Data tab, click What-If Analysis and select
Scenario Manager from the list.</span></div>
<div class="MsoNormal">
<span style="mso-no-proof: yes;">
</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipqim9RPnZ1jF8a1ydalfb88j1ogljSHl67mcNzVunf44R_EjGi7klhzrMLImr3cv5edOcGMolQdNst2Lve2_TNuXf4aHsb3gx3aW4Yi2ZawY2ixJKjStrmJO1e-u2YKlMzjF46yXO4sE/s1600/image001.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="257" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipqim9RPnZ1jF8a1ydalfb88j1ogljSHl67mcNzVunf44R_EjGi7klhzrMLImr3cv5edOcGMolQdNst2Lve2_TNuXf4aHsb3gx3aW4Yi2ZawY2ixJKjStrmJO1e-u2YKlMzjF46yXO4sE/s1600/image001.png" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaQYkWbOMBbndKE9PgbDRgsQjrjqJofSpAE3P2eIWQJiOxXyBXTOuZKZSCi0U2OiKodvdJbKXlDE58zxn-QSlwslrMiPA9cuTXKLtTN8AB3Qfg7Yd1Zt34uVJKO61VVicF43sC0J57WRs/s1600/image002.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="98" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaQYkWbOMBbndKE9PgbDRgsQjrjqJofSpAE3P2eIWQJiOxXyBXTOuZKZSCi0U2OiKodvdJbKXlDE58zxn-QSlwslrMiPA9cuTXKLtTN8AB3Qfg7Yd1Zt34uVJKO61VVicF43sC0J57WRs/s1600/image002.png" width="320" /></a></div>
<div class="MsoNormal">
<span style="font-family: "Arial","sans-serif";">2. Add a <b style="mso-bidi-font-weight: normal;">scenario</b> by clicking on Add</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgO1SpRA2HUJKP0f_4g9HFd3tIjaRoErlwG6-urrdKZ0bmsGahGSgTDP8IEunLyxV3yjNe_DxIym0SZmddUlWEQ7awJZsr4BSZ4ED6hVqkv7eVPB7YUTkllQ1_3hpPnNc-Ppp9fDUSdHDU/s1600/image003.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="287" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgO1SpRA2HUJKP0f_4g9HFd3tIjaRoErlwG6-urrdKZ0bmsGahGSgTDP8IEunLyxV3yjNe_DxIym0SZmddUlWEQ7awJZsr4BSZ4ED6hVqkv7eVPB7YUTkllQ1_3hpPnNc-Ppp9fDUSdHDU/s1600/image003.png" width="400" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Arial","sans-serif"; mso-no-proof: yes;">
</span><span style="font-family: "Arial","sans-serif";"></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "Arial","sans-serif";">3. Type a
name (Highest price 60%), select the corresponding cell XX (E9 % sold for the
highest price) for the Changing cells and click on OK.</span></div>
<div class="MsoNormal">
<span style="font-family: "Arial","sans-serif";">4. Enter the
corresponding value 0.6 and click on OK again.</span></div>
<div class="MsoNormal">
<span style="font-family: "Arial","sans-serif";">5. ADD other
scenarios – 70%, 80%, 90% by repeating steps 3 to 5</span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiEojCQFYYY24MXaKCAJiE3CYKHLzoQOUJ6rz0-7y186tbX92HUeqfYItbU4PRI1HuxjnYL593Num0U7bz6xVMcZqycyjAw6SLkHULn7S7sS6kqwYUWqOdIJry_EKVJmr14npmtZ-D-m3I/s1600/image004.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="348" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiEojCQFYYY24MXaKCAJiE3CYKHLzoQOUJ6rz0-7y186tbX92HUeqfYItbU4PRI1HuxjnYL593Num0U7bz6xVMcZqycyjAw6SLkHULn7S7sS6kqwYUWqOdIJry_EKVJmr14npmtZ-D-m3I/s1600/image004.png" width="400" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; mso-no-proof: yes;">
</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";"></span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Note:</span></b><span style="font-family: "Arial","sans-serif";"> to see the result of a scenario,
select the scenario and click on the <b style="mso-bidi-font-weight: normal;">Show
</b>button. Excel will change the value of cell C4 accordingly for you to see
the corresponding result on the sheet.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">SUMMARY</span></b></div>
<div class="MsoNormal">
<span style="font-family: "Arial","sans-serif";">Step 6: <b style="mso-bidi-font-weight: normal;"><span style="mso-spacerun: yes;"> </span></b>Click
the <b style="mso-bidi-font-weight: normal;">Summary</b> button in the Scenario
Manager.</span></div>
<span style="font-family: "Arial","sans-serif";">Step 7: Select cell YY (D14:<span style="mso-spacerun: yes;"> </span>total revenues) for the result cell and click
on OK.</span><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTjnBF92j4KxU_Yfgu7_Pd_2eD_GkzMCjs7ej6EMDl5H8_d3zpBd3tY_i7XrWzS0V65-Nh3K_wWxqRViz6DU9ki-B1pIKP2mYoYJRBC17mTU1yMJFcAsGBg-29eHWOFsugLmyWcwT4Nh4/s1600/image005.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTjnBF92j4KxU_Yfgu7_Pd_2eD_GkzMCjs7ej6EMDl5H8_d3zpBd3tY_i7XrWzS0V65-Nh3K_wWxqRViz6DU9ki-B1pIKP2mYoYJRBC17mTU1yMJFcAsGBg-29eHWOFsugLmyWcwT4Nh4/s1600/image005.png" width="400" /></a></div>
<br />
<div class="MsoNormal">
<span style="mso-no-proof: yes;">
</span></div>
<div class="MsoNormal">
Step 8: RESULTS </div>
<div class="MsoNormal">
<span style="mso-no-proof: yes;">
</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDVdQctBsSRG5UiW1vnRBDBPDKNihlNwqF1C40ukIh97M_WJFSoHirMGjnBSQP3jPt28D862CUdDch7Ar1egQ170nOmKLxzBrHShpd4qAKBZJ50XHqtCbqkQvYvNRbd2hkYaU1VwLq4yo/s1600/image006.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="243" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDVdQctBsSRG5UiW1vnRBDBPDKNihlNwqF1C40ukIh97M_WJFSoHirMGjnBSQP3jPt28D862CUdDch7Ar1egQ170nOmKLxzBrHShpd4qAKBZJ50XHqtCbqkQvYvNRbd2hkYaU1VwLq4yo/s1600/image006.png" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Conclusion:</span></b><span style="font-family: "Arial","sans-serif";"> if you sell 70% for the highest
price, you obtain total revenue of: 1780000.</span></div>
<div class="MsoNormal">
<span style="font-family: "Arial","sans-serif";">If you sell
80% for the highest price, you obtain total revenue of: 2020000</span></div>
<div class="MsoNormal">
<b><span style="font-family: "Arial","sans-serif";">Excel's
Goal Seek</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
<span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;">What if you
want to know how many books you need to sell for the highest price, to obtain a
total profit of exactly 1060000? </span><br />
<div style="margin-left: .5in; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; font-size: 11.0pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;">On
the Data tab, click What-If Analysis, <b style="mso-bidi-font-weight: normal;">Goal
Seek</b>.</span></div>
<div style="margin-left: .5in;">
<span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;">The
Goal Seek dialog box appears.</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIB38pB9oaISqzG1a-FSwCbyUCqWYktpmBK4oMR11DWKC-ZSgPRv0TuI4ALYt7bDQyN3YQ7SvFS6bXa0jhv1IqRq7b9rxtxYqL61I2LaKPR_l6wphXngNcy0KI64CcCqGbq0SOaSan3Cc/s1600/image007.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="290" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIB38pB9oaISqzG1a-FSwCbyUCqWYktpmBK4oMR11DWKC-ZSgPRv0TuI4ALYt7bDQyN3YQ7SvFS6bXa0jhv1IqRq7b9rxtxYqL61I2LaKPR_l6wphXngNcy0KI64CcCqGbq0SOaSan3Cc/s1600/image007.png" width="640" /></a></div>
<div style="margin-left: .5in;">
<br /></div>
<div style="margin-left: .5in;">
<br /></div>
<div style="margin-left: .5in;">
<span style="font-family: "Arial","sans-serif"; font-size: 11.0pt; mso-no-proof: yes;">
</span><span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;"></span></div>
<div style="margin-left: .5in; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; font-size: 11.0pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;">Select
cell E9 (YY)</span></div>
<div style="margin-left: .5in; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; font-size: 11.0pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;">Click
in the 'To value' box and type 1060000</span></div>
<div style="margin-left: .5in; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; font-size: 11.0pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;">Click
in the 'By changing cell' box and select cell D14 (XX).</span></div>
<div style="margin-left: .5in; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<span style="font-family: "Arial","sans-serif"; font-size: 11.0pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;">Click
OK.</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9iBN5x9fGP530A6HOwEP-Qv4ZNPs6GmDDBFbZeaO2bvYz5DCcS9sv9GMCBXP5mvM27fawUsovkCnx5ZghMSA0VIEbkk2iX58Yx5-WI0z4Wo1gwDVBG1cFSHLKMYJloK9v0wAnPTrbof8/s1600/image008.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="286" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9iBN5x9fGP530A6HOwEP-Qv4ZNPs6GmDDBFbZeaO2bvYz5DCcS9sv9GMCBXP5mvM27fawUsovkCnx5ZghMSA0VIEbkk2iX58Yx5-WI0z4Wo1gwDVBG1cFSHLKMYJloK9v0wAnPTrbof8/s1600/image008.png" width="640" /></a></div>
<div style="margin-left: .5in; mso-list: l1 level1 lfo1; text-indent: -.25in;">
<br /></div>
<span style="font-family: "Arial","sans-serif"; font-size: 11.0pt; mso-no-proof: yes;">
</span><span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;"></span><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;">RESULT:</span></b><span style="font-family: "Arial","sans-serif"; font-size: 11.0pt;"> <span style="mso-spacerun: yes;"> </span>You need to sell 40% of the books for the
highest price to obtain a total profit of exactly 1060000.</span><br />
<br />Dr. Umesh Rao. Hodeghatta, Ph.D (IIT Kharagpur)http://www.blogger.com/profile/12673443068097073958noreply@blogger.com0tag:blogger.com,1999:blog-5490233409166085845.post-4712988375922036472013-07-08T21:44:00.000-07:002015-10-28T09:08:09.031-07:00WHAT-IF using Data Tables<br />
<div class="WordSection1">
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 2;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; mso-fareast-font-family: "Times New Roman";"></span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 2;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 18.0pt; mso-fareast-font-family: "Times New Roman";">Data
Tables in Excel</span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">A Data Table is very useful when we
have to see the results by altering input variables. Following example
illustrates an example of using data table to find out the profit by varying
selling price of a product.</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Suppose you are a manager in a
manufacturing company which produces product P. The demands for Product P are
120 units per week at $85 per unit. The overhead (fixed) cost is around $3500. P
requires two raw materials: Steel Widget and Rubber Gasket. Steel Widget costs
$20.00 and Rubber gasket is $12.00. You are going to decide how many Ps to make
given:</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">a. To break-even (the net profit is
zero)<span style="mso-tab-count: 8;"> </span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">b. In order to make a profit of
$20000<span style="mso-tab-count: 8;"> </span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">c. If you have a limitation of
manufacturing 200 products only and want a minimum profit of 12000, what would
be your selling price?</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Answer:</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">A and B can be solved using
“Scenario manager” and “Goal Seek” methods of WHAT-IF analysis that was
discussed in my earlier posts.</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">To solve C. We can use DATA TABLE.</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step 1:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"> Enter
Number of Products in Cell F14, Selling Price in J14. Calculate Total cost,
Total Revenue and Net Profit using appropriate formulas. </span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"><span id="goog_1319142711"></span><span id="goog_1319142712"></span></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></div>
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<br /></div>
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<br /></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step 2:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"> Prepare a
Table first by entering Selling price on each columns (O24 to S24) and product
on the rows (M24:M32) as shown below:</span></div>
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<br /></div>
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<br /></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step 3:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"> In Cell
D18 enter, reference to the Net Profit cell (N18) as shown below. Cell N24
should have 2860 value (Net profit).</span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></div>
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<br /></div>
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<br /></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step 4:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"> Select
the Table N23:S30 as shown.</span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></div>
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<b style="mso-bidi-font-weight: normal;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_EwLxdMkdJcm4TEcGZMmlRcdOpey7WGLnM8aSKos5soYULYdVwrvyqH3WFolPLWwDwZl-zT5BFJvXdh9QDv9VwIAZaK-KM47Vfg26_qYslmC1hSsGD3vKyTGaUtJxXEMoQpbsoG7Nl4g/s1600/image007.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="254" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_EwLxdMkdJcm4TEcGZMmlRcdOpey7WGLnM8aSKos5soYULYdVwrvyqH3WFolPLWwDwZl-zT5BFJvXdh9QDv9VwIAZaK-KM47Vfg26_qYslmC1hSsGD3vKyTGaUtJxXEMoQpbsoG7Nl4g/s640/image007.png" width="640" /></a></b></div>
<br />
<b style="mso-bidi-font-weight: normal;">Step 5: </b>From the Excel menu bar,
click on <b>Data</b><br />
<b>Step 6: </b>Locate the <b>Data Tools</b> panel<br />
<b style="mso-bidi-font-weight: normal;">Step 7:</b> Click on the "What
if Analysis" item<br />
<b style="mso-bidi-font-weight: normal;">Step 8:</b> Click on “Data Table” <br />
<div align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></div>
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<br /></div>
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<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step 9: </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">You will
get this window </span></div>
<span style="mso-no-proof: yes;"></span><br />
<span style="mso-no-proof: yes;"></span><br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-tQUMKp2eRLg71yNtc2_QGyYXXLGTRRym1CBQmQLp9GoEBdhyphenhyphen78uflFJnb_67LossU4q4-39zUTbJrwon9T2aZdfqET8LP9KRLyYPrHBv0pyD_gTM5e9nKiciFcxAzYmml5BSqrY5smE/s1600/image010.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="184" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-tQUMKp2eRLg71yNtc2_QGyYXXLGTRRym1CBQmQLp9GoEBdhyphenhyphen78uflFJnb_67LossU4q4-39zUTbJrwon9T2aZdfqET8LP9KRLyYPrHBv0pyD_gTM5e9nKiciFcxAzYmml5BSqrY5smE/s320/image010.gif" width="320" /></a></b></div>
<br />
<b style="mso-bidi-font-weight: normal;">Step 10: E</b>nter the row and column
values. In Column input cell, enter NetProfit cell reference = N18.<br />
<br />
Step 11: In Row Input cell, enter selling price cell reference:<br />
Step 12: In Column Input Cell, enter product manufactured cell reference:<br />
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkxzxSTSqjKs43e8XhVz2MsLZINx8PY8joAM4g7aiwfuzARL9qknB6P2k6iCWtRgHqk-PpzS7CZ3ng-qzx1ppCeJ4sNCvnxXEjY5iC5Fx0qywOqBjLkHy-0aEILLv7Z7WFUcz9rEUkoGc/s1600/image011.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkxzxSTSqjKs43e8XhVz2MsLZINx8PY8joAM4g7aiwfuzARL9qknB6P2k6iCWtRgHqk-PpzS7CZ3ng-qzx1ppCeJ4sNCvnxXEjY5iC5Fx0qywOqBjLkHy-0aEILLv7Z7WFUcz9rEUkoGc/s640/image011.png" width="640" /></a></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step 13: </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Enter
OK to get the complete Table with Netprofit Values filled.</span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;"></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMQaAd4PkeyWblgS7w6fCD8IwgeD2Sf9y-SeIMjHg7p-t-GwEQkJ2obW4xv73x5aCH9JkKciexs_qBx7CTtfxV4ZDMAATUD10YRyPCoVXSuDgCaagnh-ZzZ4LCJ2UE8mp_gnrGTRkqAWc/s1600/image013.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="314" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMQaAd4PkeyWblgS7w6fCD8IwgeD2Sf9y-SeIMjHg7p-t-GwEQkJ2obW4xv73x5aCH9JkKciexs_qBx7CTtfxV4ZDMAATUD10YRyPCoVXSuDgCaagnh-ZzZ4LCJ2UE8mp_gnrGTRkqAWc/s640/image013.png" width="640" /></a></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step 14: </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">In
the table go horizontal on Product 200 row (N30) to get the Net Profit you are
looking for (12000). You will find this value under “selling price” of 110.</span></div>
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<br /></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Conclusion: </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">With
a limitation of manufacturing capacity of 200, expecting a Net profit of around
12000, selling value of the product will be 110.</span></div>
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Dr. Umesh Rao. Hodeghatta, Ph.D (IIT Kharagpur)http://www.blogger.com/profile/12673443068097073958noreply@blogger.com0tag:blogger.com,1999:blog-5490233409166085845.post-63124510438052193772013-07-08T21:00:00.000-07:002013-07-19T21:11:13.113-07:00Case - Shoe Demand and Supply<div class="WordSection1">
<br />
<b>Contribution:</b><br />
u11321-Paarki Malhotra, paarkhimerotra11@gmail.com <br />
u113099-Prachi Agarwal, prachi.agarwal09@gmail.com<br />
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Sachin owns a shoe store in Bhubaneswar. He recently opened a store in
Pal Heights and for XIMBians. Sachin plans to offer a new promotion for the
month of July. Sachin can order shoes directly from the wholesaler for
Rs.1000/-. During the promotion period, he wants to sell the shoes for Rs
1500/-, an attractive discount from the MRP of Rs.2500/- a pair.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">To get shoes at Rs.1000/- from the wholesaler, he must place an order
two month in advance. If customer demand exceeds the quantity Sachin ordered,
then he has to get the shoes from another dealer for Rs. 1500/- per pair. After
the promotion period is over, remaining shoes he has to sell it at Rs.1800/-.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Your task</span></b><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">:
Build a spreadsheet that captures the information above and allows Sachin to
change the values of quantity Ordered and Demand in the model to see how
revenues and costs are affected under different conditions. </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l5 level1 lfo2; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">a.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">What happens if Sachin orders 200 pairs of shoes
but demand is only 240? </span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l5 level1 lfo2; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">b.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">If he orders 100 pairs of shoes and demand is 50?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Solution
– </span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<i style="mso-bidi-font-style: normal;"><u><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">To compute</span></u></i><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";"> –
revenues and costs of pairs of shoes</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Notice that the problem covers the following scenarios. The output
(revenue and cost) under all these scenarios will be different so, we need to
determine it under all these scenarios.</span></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l2 level1 lfo3; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Shoe sale during the promotion period</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l2 level2 lfo3; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">a.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";"><span style="mso-spacerun: yes;"> </span>demand
exceeds the quantity ordered by Sachin</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l2 level2 lfo3; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">b.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">quantity with Sachin exceeds the demand</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l2 level1 lfo3; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Shoe sale after the promotion period</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l2 level2 lfo3; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">a.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">demand exceeds the quantity ordered by Sachin</span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l2 level2 lfo3; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">b.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">quantity with Sachin exceeds the demand</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<i style="mso-bidi-font-style: normal;"><u><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Steps to taken - </span></u></i></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: 21.3pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-indent: -14.2pt;">
<span lang="EN-IN" style="mso-ansi-language: EN-IN; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-language: EN-IN; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Make a table for recording </span><b><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">Demand and
Stock Records for Sachin during promotion period. </span></b><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">It should have the following columns – </span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: Calibri; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><span style="mso-list: Ignore;">a.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">Demand</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: Calibri; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><span style="mso-list: Ignore;">b.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">Stock available with
Sachin (Stock)</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: Calibri; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><span style="mso-list: Ignore;">c.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">Total cost price to be
incurred on the demanded number of shoes (CP)</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: Calibri; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><span style="mso-list: Ignore;">d.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">Total selling price of
the demanded number of shoes (SP)</span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; margin-left: 4.65pt; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-yfti-tbllook: 1184; width: 426px;">
<tbody>
<tr style="height: 15.0pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td colspan="6" nowrap="nowrap" style="height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 319.7pt;" valign="bottom" width="426"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">Demand and
Stock Records for Sachin during promotion period</span></b></div>
</td>
</tr>
<tr style="height: 15.0pt; mso-yfti-irow: 1;">
<td nowrap="nowrap" style="height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 74.85pt;" valign="bottom" width="100"><br /></td>
<td nowrap="nowrap" style="height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 49.05pt;" valign="bottom" width="65"><br /></td>
<td nowrap="nowrap" style="height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 24.6pt;" valign="bottom" width="33"><br /></td>
<td nowrap="nowrap" style="height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 31.65pt;" valign="bottom" width="42"><br /></td>
<td nowrap="nowrap" style="height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 23.45pt;" valign="bottom" width="31"><br /></td>
<td nowrap="nowrap" style="height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 116.1pt;" valign="bottom" width="155"><br /></td>
</tr>
<tr style="height: 15.0pt; mso-yfti-irow: 2; mso-yfti-lastrow: yes;">
<td nowrap="nowrap" style="border: solid windowtext 1.0pt; height: 15.0pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 74.85pt;" valign="bottom" width="100"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">Demand</span></b></div>
</td>
<td nowrap="nowrap" style="border-left: none; border: solid windowtext 1.0pt; height: 15.0pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 49.05pt;" valign="bottom" width="65"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">Stock</span></b></div>
</td>
<td nowrap="nowrap" style="border-left: none; border: solid windowtext 1.0pt; height: 15.0pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 24.6pt;" valign="bottom" width="33"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">CP</span></b></div>
</td>
<td nowrap="nowrap" style="border-left: none; border: solid windowtext 1.0pt; height: 15.0pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 31.65pt;" valign="bottom" width="42"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">MP</span></b></div>
</td>
<td nowrap="nowrap" style="border-left: none; border: solid windowtext 1.0pt; height: 15.0pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 23.45pt;" valign="bottom" width="31"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">SP</span></b></div>
</td>
<td nowrap="nowrap" style="border-left: none; border: solid windowtext 1.0pt; height: 15.0pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 116.1pt;" valign="bottom" width="155"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN-IN" style="color: black; mso-ansi-language: EN-IN; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;">Profit/Loss</span></b></div>
</td>
</tr>
</tbody></table>
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<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: 21.3pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-indent: -14.2pt;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">
</span></span></span>If the demand is 240 and the sock available is
200 the total cost price incurred by Sachin will be (200*1000)+(40*1500) =
26000. </div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 21.3pt; mso-add-space: auto;">
However, if the demand had been less than or equal to the stock
available, CP would have been only demand*1000.</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 21.3pt; mso-add-space: auto;">
So we use an ‘if’ condition as shown.</div>
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<span style="mso-no-proof: yes;"></span><span style="mso-spacerun: yes;"> </span></div>
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<span id="goog_595671027"></span><span id="goog_595671028"></span><span style="mso-no-proof: yes;"></span>
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<span style="mso-no-proof: yes;"></span><span style="mso-spacerun: yes;"> </span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj6aMPu57T7b_5HwUJYaWWLGOJZxpYek9ZxypoJxtwygCiPQjOGtBwX7aIaaxyWZsD1sxLjHiMJBKwgw5HuplaAEWJGoojzXlZIQ15Ur5o2Xh5OXglJu47RmVupIoIj5HQWIaicc_CL_PA/s1600/image004.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="96" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj6aMPu57T7b_5HwUJYaWWLGOJZxpYek9ZxypoJxtwygCiPQjOGtBwX7aIaaxyWZsD1sxLjHiMJBKwgw5HuplaAEWJGoojzXlZIQ15Ur5o2Xh5OXglJu47RmVupIoIj5HQWIaicc_CL_PA/s320/image004.jpg" width="320" /></a></div>
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<br /></div>
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<br /></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo6; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><br /></span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: left; text-indent: -0.25in;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: left; text-indent: -0.25in;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: left; text-indent: -0.25in;">
3. <span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"></span></span></span>Total selling price of the demanded quantity of
shoes during<span style="mso-spacerun: yes;"> </span>the promotional period will
be quantity demanded*1500.</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 10.0pt; margin-left: 0in; margin-right: -30.65pt; margin-top: 0in; mso-add-space: auto;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCqEejvDamfOeWw2KqAc3JrnDQxr7WUbJBRa_WJJVl1XTh1YZkn5yNsQVr4lqEKltlTdIO-_eEhqEIhb_CABvjadAafRYDtevHKrq1lYenOvZwUKsENH2ye9_eBJ2LGUBdFOsrLONRrbg/s1600/image006.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="99" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCqEejvDamfOeWw2KqAc3JrnDQxr7WUbJBRa_WJJVl1XTh1YZkn5yNsQVr4lqEKltlTdIO-_eEhqEIhb_CABvjadAafRYDtevHKrq1lYenOvZwUKsENH2ye9_eBJ2LGUBdFOsrLONRrbg/s320/image006.jpg" width="320" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYjJ6FdgW0UVA-hhGjwqsKf090Tcb-cJQcAZ9Qly7TelR3BV5SumFCVAz_5qwpGBv5pFzY2YO9CPrISsY5rd6ko6D_HrFRm-h2IZvn8515ejW0HwX47VlyOhGCvzt6bgBUO2q2Q0xzV4I/s1600/image005.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="99" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYjJ6FdgW0UVA-hhGjwqsKf090Tcb-cJQcAZ9Qly7TelR3BV5SumFCVAz_5qwpGBv5pFzY2YO9CPrISsY5rd6ko6D_HrFRm-h2IZvn8515ejW0HwX47VlyOhGCvzt6bgBUO2q2Q0xzV4I/s320/image005.png" width="320" /></a><span style="mso-no-proof: yes;"></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo6; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";">
</span></span></span> </div>
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<br /></div>
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<br /></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo6; text-indent: -.25in;">
4. So, the profit or loss is SP-CP.</div>
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<br /></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi02QlGOEbT3l0A1pYdpEgVumxDSJHyafYEGKmYdZZlyiNtZJD9NNIdblgLA5xmjeejUKHylym4HW1a1UyDmAhm4Cxmz91f1TB7S4XOhH1AtmhBXvJoJYGmGXjgfiLfVpYRH6c3u0iFWQ8/s1600/image009.png"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi02QlGOEbT3l0A1pYdpEgVumxDSJHyafYEGKmYdZZlyiNtZJD9NNIdblgLA5xmjeejUKHylym4HW1a1UyDmAhm4Cxmz91f1TB7S4XOhH1AtmhBXvJoJYGmGXjgfiLfVpYRH6c3u0iFWQ8/s320/image009.png" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfy4Dfq67hNXxZPaQmaQxXFpc_gjLgCAYUVRGlDd4BvvLkkwIgmSJZmiNbllKPMv71bXanVEideeZK-Bd35SIIkAtubjG0em6FdbqVjnwO0kkx0ijG0xPGVgJ1JnTHC2m-6K6dn5bHXkE/s1600/image010.gif"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfy4Dfq67hNXxZPaQmaQxXFpc_gjLgCAYUVRGlDd4BvvLkkwIgmSJZmiNbllKPMv71bXanVEideeZK-Bd35SIIkAtubjG0em6FdbqVjnwO0kkx0ijG0xPGVgJ1JnTHC2m-6K6dn5bHXkE/s320/image010.gif" /></a> </div>
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<br /></div>
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<br /></div>
<span lang="EN-IN" style="mso-ansi-language: EN-IN; mso-fareast-language: EN-IN; mso-no-proof: yes;"><span style="mso-spacerun: yes;"></span></span><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"> </span></span></span><br />
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0in; mso-add-space: auto;">
5. <span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"> </span></span></span>Now, enter a case where stock is more than
demand, say demand = 50, stock = 100. Copy and paste the cells under CP, SP and
Profit/Loss down. </div>
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<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0in; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="mso-no-proof: yes;"></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo6; text-indent: -.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"> 6.<span style="font: 7.0pt "Times New Roman";">
</span></span></span>Now, make a similar table for modeling sales
after the promotion period. Enter values of demand and stock as shown in the
image below. The total cost price will be same as computed earlier. The total
selling price in this case will be (50*1500)+(50*1800)=165000.</div>
<div class="MsoListParagraphCxSpMiddle">
If the quantity available would have been
less than or equal to the demand, the selling price would simply have been
demand*1500.</div>
<div class="MsoListParagraphCxSpMiddle">
So, we use an ‘if’ condition – </div>
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<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"> </span></span></div>
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<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"> 7. <span style="font: 7.0pt "Times New Roman";">
</span></span></span>Copy the cells under CP, SP and Profit/Loss for
other values of Demad and Stock.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvQS1E2IylK3IgIwBECnw6WlAgQcunCtp-S5mpvVvSMmumnEGBoD3_6ypAp1AYmhqQRIGwuGTJ_PHeQFnTyIs3Y3YBimrEQla7Zgaub94D4yhNJHywh5AZQKALRtnsF_w9OVVTGdnH_Gc/s1600/image027.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="120" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvQS1E2IylK3IgIwBECnw6WlAgQcunCtp-S5mpvVvSMmumnEGBoD3_6ypAp1AYmhqQRIGwuGTJ_PHeQFnTyIs3Y3YBimrEQla7Zgaub94D4yhNJHywh5AZQKALRtnsF_w9OVVTGdnH_Gc/s400/image027.png" width="400" /></a></div>
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Final Results:</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEif-8ZaV9gyaXkmCffcR08jx3BxamWadXr6FNDYf3wyRR25BNYqZOfq7K0ScAeNp687aVveKAbbTYdCeTkwDJLKwvwOVQqKZ2dLpPqP9MrFK7Kcem__mGxCIvkxcaTrxo3cVVp03dXKwBk/s1600/image029.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="356" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEif-8ZaV9gyaXkmCffcR08jx3BxamWadXr6FNDYf3wyRR25BNYqZOfq7K0ScAeNp687aVveKAbbTYdCeTkwDJLKwvwOVQqKZ2dLpPqP9MrFK7Kcem__mGxCIvkxcaTrxo3cVVp03dXKwBk/s640/image029.png" width="640" /></a></div>
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Dr. Umesh Rao. Hodeghatta, Ph.D (IIT Kharagpur)http://www.blogger.com/profile/12673443068097073958noreply@blogger.com0