Exploring Advanced Data Analysis

A Skills Approach: Excel 2016 Chapter 8: Exploring Advanced Data Analysis1 | Page Challenge Yourself 8.4 Last Updated 4/9/18Challenge Yourself 8.4 In this project, you will use scenarios and a scenario summary to analyze car purchasing options. The data forthis project were downloaded from: https://www.fueleconomy.gov/feg/download.shtml You will use customfiltering to find the data you are interested in and copy it from this very large data set to another worksheet.You will then use Advanced Filter, conditional formatting, sorting, and subtotals to further analyze this subsetof data. You will manipulate a PivotTable created from the main vehicle data set. Finally, you will use Solverto solve a business problem to help you pay for your new car.Skills needed to complete this project: • Creating What-If Analysis Scenarios• Creating Scenario Summary Reports• Creating a Custom Filter• Using Advanced Filter• Creating New Conditional Formatting Rules• Sorting Data on Multiple Criteria• Adding Subtotals• Changing the Look of a PivotTable• Filtering PivotTable Data• Activating the Solver Add-Inn• Using Solver1. Open the start file EX2016-ChallengeYourself-8-4. The file will be renamed automatically to includeyour name. Change the project file name if directed to do so by your instructor, and save it.2. If the workbook opens in Protected View, click the Enable Editing button in the Message Bar at the]top of the workbook so you can modify the workbook.3. You want to purchase a new car. Your current car is worth $3,500 as a trade-in. The base sticker price onthe car you want is $24,595. The first financing offer from the dealer is 1.9% APR for 24 months, withno cash back. The original financing offer terms are listed in cells A3:B9 on the Car Loan worksheet. CellB10 contains a formula with a PMT function to calculate the monthly payment. Use what-if analysis toolsto compare financing options. Create scenarios to compare financing options for the car loan.a. Create names for the following cells on the Car Loan worksheet to make the scenarios easier to For more information on Exploring Advanced Data Analysis check on:https://en.wikipedia.org/wiki/Data_analysis

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