Reference no: EM131598794
Assignment: Lab Summit Ridge Mountain Resorts
Scenario/Summary
Summit Ridge Mountain Resorts has decided to expand. Because of the popularity of the resort among the business community and families, Summit Ridge has decided to purchase some apartments for guests and seasonal employees to have an extended stay. Because these will prove to be a long-term investment, Summit Ridge has decided to put all complexes on a remodeling rotation to ensure the apartments each have a modern and functional style.
It is now your job to analyze the information regarding the apartments. The owners are looking for some specific information about rentals by apartment size (such as the number of bedrooms per apartment). Based on current housing interest rates, Summit Ridge is considering a sixth apartment complex and has asked you to perform some financial calculations and analyses to determine how adding this new complex to their portfolio enhances the resort's financial position. They will then use this information to come up with a marketing plan to attract additional customers to the resort.
Remember that you are making a professional analysis and presentation, so be sure to give some thought to what you are trying to recommend to the management of Summit Ridge and why.
Lab Resources
Microsoft Office: Excel 2016
Options for Accessing Microsoft Excel 2016
1. Use a personal copy on your PC. You can request a copy of Microsoft Office 2016 via the Student Software Store icon on the Course Resources page.
2. If you are a MAC user, click to read the MAC User Information.
3. If you do not have Excel 2016 installed locally, then access the software by going to the Course Resources page, Lab Resources section, and click the Virtual Lab Citrix icon.
Lab Steps
Preparation
You will be using Microsoft Excel 2016 for this lab.
Be sure you have read the required chapter materials and reviewed the hands-on exercise videos located on the Lesson page before you begin the lab.
Please do not rely solely on the hands-on exercise videos to complete this week's lab. The videos provide detailed examples walking you through the hands-on exercises. Applying the hands-on exercise examples will provide both practice and instruction of what to complete.
Begin: Open and Save
Download the spreadsheet Week 5 Lab - Summit Ridge Mountain Resort Student.xslx. (Links to an external site.)Links to an external site.
You will be prompted to save the file. Click yes.
Open the saved file from your Download folder on your computer.
Note: If you are using the Remote Lab environment, you will need to follow the instructions for uploading the file. These instructions can be found on the Lab page when you click on the Lab icon on Course Resources.
To save the spreadsheet with a new file name,
• open the workbook in Excel 2016; and
• in Excel, click File, then Save as, and rename it as lastname_first initial_Week5_Lab.xlsx (Jane Doe would save the file as Doe_J_Week5_Lab.xlsx).
Step 1: Insert Functions
1. Select the Search worksheet and then the Pet Deposit column. Create a formula to determine the required pet deposit for each unit. If the unit has two or more bedrooms and was remodeled after 2006, the deposit is $150; if not, it is $100.
2. The Recommendation column needs a nested function to indicate the remodeling status. If the apartment is unoccupied and has not been remodeled before 2006, then display "Please remodel" in the Recommendation column. Display " ~ No Change" for apartments that do not meet the former criteria.
3. Make sure each field has the appropriate professional formatting for titles, headers, currency, percent, and so forth. Your worksheets need to be readable, clean, and professional. Please let spell-check work for you; use this feature to check for spelling errors.
Click Image to Expand
Step 2: Quick Search
Now that all of the rental properties are listed and organized, the owners would like to be able to search through the apartment numbers and return the price of the apartment number listed.
1. Insert number 1301 in cell B3. B3 is the cell that will be used to research apartment unit prices.
2. Create a nested lookup function in cell E3. Look up the rental price in column D using the apartment unit number in cell B3. (Use the INDEX function.)
3. Make sure each field has the appropriate professional formatting for titles, headers, currency, percent, and so forth. Your worksheets need to be readable, clean, and professional. Please let spell-check work for you; use this feature to check for spelling errors.
Click Image to Expand
Step 3: Database Functions
The Database tab of the workbook contains a duplicate listing of all of the apartments listed as rental properties. The owners are looking for you to help them filter through all of this data to come up with specific pieces of information. They would like to have answers to the following questions.
• How many two- and three-bedroom apartments need to be remodeled?
• What is the value of lost rent income?
• What is the year of the oldest remodel?
You know you will need to perform an advanced filter and use some database functions to address these interests. Select the Database worksheet to begin.
1. Enter conditions in the Specify Criteria area for unoccupied two- and three-bedroom apartments that need to be remodeled. Be very careful with data entry and spelling.
2. Select cells A2:H4 and give it the Range Name Criteria.
3. Insert database functions to determine the database statistics in the range D8:D10.
4. Complete an advanced filter based on the specify criteria range; filter the database in place.
5. Put the three Rs into practice. Adjust all titles and columns for proper spacing. Double check data formats and consider grid lines.
Database Criteria
Step 4: New Apartment Loan Amortization
Summit Ridge Ski owners want to purchase a sixth apartment complex. This decision is under review. Here are the details of their offer. The loan amount is $950,000 with a down payment of $400,000 for 30 years at 5.325%, with the first payment due on January 20, 2017. Please consider the loan calculations and build a loan amortization table on the Loan worksheet. Click on the Loan worksheet to begin.
1. Enter the loan details provided above in the Input Area and place formulas to create all calculations in the Summary Calculations. The loan payment is at the end of the period.
2. Create a loan amortization table. The Payment Date column needs a date function. The Interest Paid and Principal Payment columns require financial functions.
3. Create a custom footer with your name on the left side, the page and page number in the center, and your professor's name on the right side of each worksheet. Make sure you put the page back to normal view after you insert the footer at the bottom.
Loan Details
Step 5: Conditional Functions
In addition to adding the new apartments to their financial portfolios, the owners of Summit Ridge Ski Resort would like to ensure that they are paying their employees at market value and want to continue to encourage employees to stay with the company. Another phase of your project is to research all employee salaries to see if they have any effect on job satisfaction. Employee satisfaction surveys allow the company to get a pulse for how content employees are. A voluntary survey was administered to a cross-section sample of all employees in the company. This next bit of work will be on the Employee Satisfaction Worksheet.
1. Calculate the average job satisfaction for Administrative Assistant in cell I5. Format the results with the number format and two decimal positions.
2. Use the fill handle from cell I5 to copy the function down through the range I6:I11. Make certain to consider the appropriate mixed and/or absolute cell referencing.
3. Calculate the average salary of all Administrative Assistants and place the result in cell J5.
4. Use the fill handle from cell J5 to copy the function down through the range J6:J11. Make certain to consider the appropriate mixed and/or absolute cell referencing.
5. Calculate the number of Sales and Marketing Directors in cell I14 that have a job satisfaction level of 4 or above.
6. Calculate the average salary of Sales and Marketing Directors in cell I15 that have a job satisfaction level of 4 or above.
7. Use a process like that demonstrated in steps E and F to calculate the total number and the average salary of Managers that have a job satisfaction of 4 or greater.
Employee Satisfaction
Step 6: Calculate Relative Standing and Central Tendency
Please continue your analysis and calculate both the salary rankings and the salary quartile thresholds.
1. Insert a function in cell F4 to determine the rank of the salary in cell D4 against the range of all salaries.
2. Copy the Salary Rank function down column F. Make certain to consider the appropriate mixed and/or absolute cell referencing.
3. Calculate the minimum quartile value in the list of salaries. Place your quartile function in cell I22.
4. Copy the remaining quartile values in range I23:I26. Make certain to consider the appropriate mixed and/or absolute cell referencing.
5. Insert a function in cell H29 to determine the strength of the relationship between satisfaction and salary. Format the correlation of columns D and E as number format with two decimal positions.
Statistical Functions
Step 7: Using the Analysis ToolPak
You are almost finished with your analysis. Please create a summary of descriptive statistics using the Analysis ToolPak. The Analysis ToolPak add-in must be active before completing the following.
1. Go to the Data tab and select Data Analysis. Select Descriptive Statistics, and click OK.
2. Insert the input range using the salary data in column D.
3. Select the new worksheet output option to display on a new worksheet named Descriptive Statistics. Put a check in the box to the left of Summary statistics. Click OK.
4. Create a histogram with the Analysis ToolPak. The salary column D will be the input range and the quartile range I22:I25 will be the bin range. Position the Output range in cell H31. Make sure the Chart output is checked. Click OK.
5. Format the worksheet professionally.
Descriptive Statistics
Step 8: Create a Documentation Sheet
Clean up the formatting of your Excel workbook, taking into account professional appearance.
The Minimum Requirement (per the Grading Rubric)
1. Insert a new spreadsheet into the workbook. The Documentation sheet should be the first sheet in the workbook.
2. Make certain each tab has a descriptive name and color for each tab (sheet) in the workbook.
3. Create the professional documentation worksheet. Be sure to include a description of each worksheet. An image is provided below.
Week 5 Documentation Sheet
Transcript
Finish and Submit
Save your Excel file. Make sure you are aware as to where your files are physically saved. Saving your file often is good practice (Ctrl + s).
Your Excel file should contain six worksheets.
• Documentation Page
• Search
• Database
• Loan
• Descriptive Statistics
• Employee Satisfaction
Submit one workbook. When submitting the workbook, provide a comment in the comments area explaining what you learned from completing this lab activity.
Attachment:- Student_File_Week5_Lab.rar