Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the accompanying spreadsheet 1 3 5 1 HW 1 . xlsx , on the worksheet labeled Problem 1 , I provide data on sixty

In the accompanying spreadsheet 1351 HW1.xlsx, on the worksheet labeled Problem 1, I
provide data on sixty salespeople in a small firm. They are identified by serial numbers in Column
B, while their respective sales dollar amounts are shown in Column C.
As area sales manager, your task is to categorize these members of your team into three buckets
Fair, Good and Excellent based on their sales amounts. For this purpose, you need to:
a) Determine cutoff sales amounts which will decide which category they fall into. These sales
amounts must be entered into cells H5:H7(highlighted in yellow.)
b) Determine which bucket each salesperson falls into based on the cutoffs you specified. Do
this in column D using the =IF() function, column E using the =IFS() function, and column
F using the =VLOOKUP() function. Note that the results in columns D, E and F must be
identical, for the assumed cutoff levels of sales.
c) Having set up the categorization in a) and b), adjust your cutoffs such that the percentages of
salespeople (of the total of 60) in each bucket are as close as possible to the desired
percentages shown in cells J5:J7

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Get Rich With Dividends

Authors: Marc Lichtenfeld

3rd Edition

1119985552, 978-1119985556

More Books

Students also viewed these Finance questions

Question

Describe each benefit classification, and include two examples.

Answered: 1 week ago