KEY_Homework 1 - =Sumproduct(B3:D3,B4:D4 3 Write an Excel formula for Unit Cost of each of the products given the levels indicated in the

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
KEY CORRECT ANSWERS ARE IN BOLD Homework 1 AGEC 352 1. Why is the XY (Scatter) the most appropriate tool for graphing economic functions.  To get some insight into this you might try graphing a function with irregular X  intervals and comparing the line graph (using the X values as labels) to the XY  (Scatter). The XY Scatter is the most appropriate graphing tool for economic functions  because it recognizes the numerical nature of items plotted on both axes.  2. Given the Excel spreadsheet below, write the sumproduct formula that calculates  Total Variable Cost.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: =Sumproduct(B3:D3,B4:D4) 3. Write an Excel formula for Unit Cost of each of the products given the levels indicated in the spreadsheet in Question 3. The unit cost is the average cost per unit. Therefore we can calculate Total cost and divide by the quantity for each product. This formula for product A is given below: =(B2+B3*B4)/B4 Alternatively, since we already know the variable cost per unit, we could calculate the fixed cost per unit and add the two together. This formula for product A is given below: =B3+B2/B4...
View Full Document

This note was uploaded on 02/25/2010 for the course AGEC 352 taught by Professor Staff during the Fall '08 term at Purdue University-West Lafayette.

Page1 / 2

KEY_Homework 1 - =Sumproduct(B3:D3,B4:D4 3 Write an Excel formula for Unit Cost of each of the products given the levels indicated in the

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online