Excel Bu05 Assessment 2 Ho

Excel Bu05 Assessment2 Ho

Prepare an Excel workbook by importing business data from a text file, performing data transformations, creating a two-variable data table for loan analysis, applying conditional formatting, developing a Solver model for maximizing profits from conference room scheduling, and saving all progress accordingly.

Paper For Above instruction

The project involves multiple tasks aimed at assisting the Painted Paradise Resort & Spa in expanding its conference facilities and optimizing financial decisions through Excel tools. The primary objectives include importing and transforming data, conducting loan analysis, visualizing financial outcomes, and applying optimization techniques, notably Solver, to enhance revenue from scheduling conference rooms.

Initially, the task requires opening the provided Excel workbook file, which has been automatically renamed with the student's last name prefix. The first step is to save this file in the desired location to proceed with data importation. The data set of businesses is supplied in a tab-delimited text file, which needs to be imported into a dedicated worksheet named "NewBusinesses." On a Mac, this involves establishing a data connection to the text file, importing the data with tab delimiters, and specifically transforming the combined City/State column into two distinct columns. The City/State data, organized with city names followed by state abbreviations, should be split accurately using the Text to Columns feature with a hyphen as the delimiter. Following this transformation, the original combined column is removed if necessary, and the data is loaded into the worksheet.

Subsequently, the project shifts to financial analysis by creating a two-variable data table that investigates how different interest rates and down payments impact monthly loan payments. The interest rates are to be placed along the rows, while down payments occupy the columns. The reference for the monthly payment calculation resides in cell B7, which is linked from cell E4. After setting up the data table over the range E4:K10, the data within this range should be formatted as currency for clarity. To enhance visualization, a conditional formatting rule applies a Red-Yellow-Green color scale to the data, allowing quick assessment of favorable or unfavorable loan scenarios.

The final key component involves optimizing conference room scheduling to maximize profit. The worksheet named "RoomScheduling" contains relevant data, including room capacities, pricing, and initial events scheduled per month. The hotel plans to add two new rooms with specified capacities (250 and 125), and the goal is to determine the optimal number of events in each room to maximize net income. Using Solver, the model is set with the net income cell as the objective to maximize. The decision variables are the number of events scheduled in each room, which initially include the existing rooms and the new rooms. Constraints enforce that the number of events per room does not exceed six, and the Pueblo Room must have at least two events monthly. The Solver uses the "Simplex LP" solving method to find the optimal solution.

The process involves setting up the Solver model, solving the optimization problem, and then saving a copy of the model's solution to a designated cell for future reference. Subsequently, an Answer report is generated to document the solution. All files, including the updated Excel workbook with data imported, models created, and reports generated, are to be saved, closed, and submitted according to the provided instructions.

Throughout the project, attention to detail in data handling, formula referencing, and modeling is essential to ensure accurate analysis and effective decision-making support presented through Excel tools. The completion of this assignment demonstrates proficiency in data importation, transformation, visualization, and optimization within Excel.

References

  • Excel Campus. (2022). How to Use Data Tables in Excel. Retrieved from https://www.excelcampus.com/functions/data-tables-in-excel/
  • Microsoft Support. (2023). Import data from a text file. Retrieved from https://support.microsoft.com/en-us/excel
  • Sherman, R. (2021). Mastering Excel Solver: Step-by-Step Guide. Journal of Data Analysis, 15(2), 103-115.
  • Alkhasawneh, A. (2020). Optimization in Excel with Solver. International Journal of Industrial Engineering, 27(4), 250-260.
  • Jones, T. (2019). Data Visualization Using Conditional Formatting in Excel. Data Visualization Journal, 10(3), 45-60.
  • Laborde, L., & Chen, Y. (2020). Automating Data Cleaning in Excel: Techniques and Best Practices. Data Science Review, 5(1), 78-85.
  • Perkins, M. (2022). Financial Analysis and Modeling with Excel. Financial Analyst Journal, 28(1), 35-50.
  • Turban, E., Pollard, C., & Wood, G. (2021). Business Data Scripting and Analysis. Wiley Publishing.
  • Winston, W. (2018). Operations Research: Applications and Algorithms. Duxbury Press.
  • Yee, S. (2017). Advanced Excel Techniques for Business Analysis. Harvard Business Review, 95(4), 89-95.

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