A: Describe the critical elements of a well designed excel model B: Give an example of...

A: Describe the critical elements of a well designed excel model

B: Give an example of a model you could prepare to help in the work environment and describe how it would help and/or could be used?

Expert Solution

A. Critical elements of a well designed model are calculated below:

Consistency:

Good excel models are built in a consistent manner. It helps the users to become familiar with the model and change the data easily.

Robustness:

The models should be free from all material error, be mathematically accurate. Error messages such as #value! should not be present in the model.

Flexibility:

A good model should always consider which inputs shall be variable and how they should vary, in what range etc.

Transparency:

A model should be clear, extremely concise and it should be tailor made for the purpose intended.

B. I work in the telecom industry. A model which I can prepare would be validation for site rent which is required to be paid every month. The rent is based on agreements. Key statistics of the agreement should be present in the model. This will help me to just enter the site ID and validate the rent being billed by the vendor.

ekkarill92 answered 2 years ago

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