Fundamental Quantitative Concepts Exercises

  

Fundamental Quantitative Concepts Exercises Purpose of Assignment The purpose of this assignment is for students to learn how to use Microsoft Excel® for solving formulas. Managers and staff need to work with percentages daily in professional settings. Skills such as finding the percentage increase/decrease and using Excel® to convert from decimals to percentages and vice versa have become necessary. This assignment provides students with the practice of such fundamental quantitative concepts. Assignment Steps Resources: Fundamental Quantitative Concepts Exercises Excel® Template Save the Fundamental Quantitative Concepts Exercises Excel® Template to your computer. Read the instructions on the first tab. Complete the ten Excel® exercises
qrb501_r10_fundamental_quantitative_concepts_exercises_excel_template.xlsx

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Instructions
1. You have ten problems – one on each tab of this Excel file.
2. Please show your work in the cells. Use Excel formulas instead of writing the values/answers directly in the cell.
The instructor will then know where you made a mistake and provide you valuable feedback and partial credit (if
3. The grey cells are data values which are given (known values). The yellow cells are unknowns and have to be dete
Total Points: 6
e feedback and partial credit (if appropriate).
A scale drawing of an office building is not labeled, but indicates 0.25 inch = 5 feet.
On the drawing, one wall measures 2 inches. How long is the actual wall?
Inches
Feet
0,25
2
5
=A6*B5/A5
Refer to the Solved Example 5 on Page 166 of your text.
Marcus James purchased 2,500 pounds of produce. Records indicate he purchased 800 pounds of potatoes,
150 pounds of broccoli, and 390 pounds of tomatoes. He also purchased apples. How many pounds of apples
did he purchase?
Total produce
Potatoes
Broccoli
Tomatoes
Apples
pounds
pounds
pounds
pounds
pounds
=C5-C6-C7-C8
Refer to the Solved Example 1 on Page 163 of your text.
nds of potatoes,
pounds of apples
The formula for the installment price of an item purchased with financing is Installment price = Total of installment p
The formula can be written in symbols as I = T + D.
Part a
Find the installment price I if T = $24,846.38 and D = $2,500.
Installment Price (I)
Part b
+
+ Down Payment (D)
Find the down payment for an installment loan if the installment price is $13,846.76 and the total of instal
Installment Price (I)
Part c
=
= Total Installment Payments (T)
=
= Total Installment Payments (T)
+
+ Down Payment (D)
Find the total installment payments if I = $6,508.72 and D = $2,250.
Installment Price (I)
=
= Total Installment Payments (T)
+
+ Down Payment (D)
= Total of installment payments + Down payment.
6 and the total of installment payments is $10,673.26.
Wallpaper costs $12.97 per roll and a kitchen requires 9 rolls. What is the cost of the wallpaper needed to paper the k
Cost
Total rolls needed
Total cost to paper kitchen
per roll
=Cost*Total rolls needed
er needed to paper the kitchen?
Wilson’s Auto, Inc., has 37 employees and a weekly payroll of $10,878. If each employee
makes the same amount, how much does each make?
Total no. of employees
Total weekly payroll
Earnings per employee
=Total weekly payroll/Total no. of employees
Jacob Kennedy borrowed $30,000 to start up his consulting business. The loan had a simple interest
rate of 6.2% for 3 years. Use the formula I = PRT to find the amount of interest he will pay on the loan.
I = interest; P = principal; R = rate (expressed as a decimal 0.062); T = time in years
Principal (P)
Interest (R)
Time (T)
Simple Interest (I)
years
=P*R*T
A car odometer increased from 37,580.3 to 42,719.6. What was the increase?
New Value
Original Value
Amount of increase
=New value – Original Value
Absolute Change
A number decreased from 486 to 104. Find the amount of decrease.
New Value
Original Value
Amount of change
=New value – Original Value
Absolute Change
A number increased from 224 to 336. Find the percent of increase.
New Value
Original Value
Amount of increase
Absolute Change
Percentage increase
=Absolute Change/Original Value
Relative Change
A number decreased from 250 to 195. Find the rate of decrease.
New Value
Original Value
Amount of change
Absolute Change
Percentage change
=Absolute Change/Original Value
Relative Change
…
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