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Use the What-if Scenario Manager feature to show the individual and total costs if the number of hours required by the test personnel were 20% lower or 20% higher than the vendor estimate. Use the Goal Seek feature to determine the number of hours each tester should use if you wanted to be exactly on-budget.

Use the What-if Scenario Manager feature to show the individual and total costs if the number of hours required by the test personnel were 20% lower or 20% higher than the vendor estimate. Use the Goal Seek feature to determine the number of hours each tester should use if you wanted to be exactly on-budget.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Answer the following:  

  1. Use the What-if Scenario Manager feature to show the individual and total costs if the number of hours required by the test personnel were 20% lower or 20% higher than the vendor estimate.
  2. Use the Goal Seek feature to determine the number of hours each tester should use if you wanted to be exactly on-budget.
Vendor Cost Estimate: Test 1 Test 2 Skill Required Senior Analyst Junior Analyst Senior Analyst Mid Analyst Labor Rate ($/hr) $150.00 $90.00 $150.00 $122.00 Estimated Hours 16 16 Test 1 Cost 16 18 Test 2 Cost Total Cost Cost $2400.00 $1440.00 $3840.00 $2400.00 $2196.00 $4596.00 $8436.00
Transcribed Image Text:Vendor Cost Estimate: Test 1 Test 2 Skill Required Senior Analyst Junior Analyst Senior Analyst Mid Analyst Labor Rate ($/hr) $150.00 $90.00 $150.00 $122.00 Estimated Hours 16 16 Test 1 Cost 16 18 Test 2 Cost Total Cost Cost $2400.00 $1440.00 $3840.00 $2400.00 $2196.00 $4596.00 $8436.00
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