Chapter 4 Problem 8-1
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Chapter 4 Problem 8-1
Project Description:
In this problem, you will calculate the number of paintings with known utility and the given set of number of carpets. You will also draw indifference curves for different values of utility.
Steps to Perform:
Step | Instructions | Points Possible |
1 | Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you will not receive full credit for your answers.
Start Excel. |
0 |
2 | In cell D9, by using relative and absolute cell references, calculate the number of paintings if U is equal to 4 and the number of carpets is equal to the value in cell C9. Copy the formula from cell D9 down the column to cell D12. | 1 |
3 | In cell E9, by using relative and absolute cell references, calculate the number of paintings if U is equal to 6 and the number of carpets is equal to the value in cell C9. Copy the formula from cell E9 down the column to cell E12. | 1 |
4 | In cells C16-I16, insert a Scatter Chart for the indifference curves.
Inserting a Chart Selecting Data Series Edit Chart Elements Chart Position |
4 |
5 | Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed. | 0 |
Total Points | 6 |
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