1. Open a new excel spreadsheet file.

2. Save this file as "yourname, Excel Lab 01.xls"

3. Right click on the tab on the bottom of the spreadsheet and rename it "Part A" 4. Set up the following columns within the spreadsheet. Record the following price, demand and supply figures.

5. Graph the data contained in the table you have created by following the steps outlined below:

1. Highlight all three columns, including the column titles and all of the data.
2. With the table still highlighted, click on the chart wizard button in the tool bar .
3. A Chart Wizard window will appear. Under the [Standard Types] tab, select the [XY (Scatter)] option,
4. Under [Chart Sub Type] select the option that shows straight lines connected by data points.
5. Click the [Next] button.
6. A new window will appear. Click the [Series] tab at the top.
7. In the series window, make sure that "Quantity Demanded" is highlighted, then click on the button to the right of the "X Values" cell.
8. The window will disappear. Don't worry. Just highlight all of the data under the "Quantity Demanded" Column. (Do not highlight the column heading!) Then hit the enter key on your keyboard.
9. The Chart Wizard Window will reappear.
10. In the series window, make sure that "Quantity Demanded" is highlighted once again, then click on the button to the right of the "Y Values" cell.
11. The window will disappear. Don't worry. Just highlight all of the data under the "Price" Column. (Do not highlight the column heading!) Then hit the enter key on your keyboard.
12. The Chart Wizard Window will reappear.
13. In the series window, make sure that "Quantity Supplied" is highlighted, then click on the button to the right of the "X Values" cell.
14. The window will disappear. Don't worry. Just highlight all of the data under the "Quantity Supplied" Column. (Do not highlight the column heading!) Then hit the enter key on your keyboard.
15. The Chart Wizard Window will reappear.
16. In the series window, make sure that "Quantity Supplied" is highlighted once again, then click on the button to the right of the "Y Values" cell.
17. The window will disappear. Don't worry. Just highlight all of the data under the "Price" Column. (Do not highlight the column heading!) Then hit the enter key on your keyboard.
18. The Chart Wizard Window will reappear.
19. (At this point the preview window should be showing you a graph that looks similar to the one illustrated below.)
20. Click the [Next] button.
21. Under the [Titles] tab, fill in the following information:
    • Chart Title: Supply and Demand for Oh Henry Bars
    • Value (X) Axis: Quantity
    • Value (Y) Axis: Price
22. Click the [Next] button.
23. Click the [Finish] button.

    

    That's that! You should now have a graph pasted into your worksheet. You can manipulate the size of the graph by clicking on any of the black squares on the graph's border and dragging the mouse.

    
    

    

    
    

    Analyses:
    1. At what price is equilibrium found?
    2. At what quantity is equilibrium found?

    
    

    
    

1. Open a new worksheet within this same spreadsheet file by clicking on another tab on the bottom of the screen.

2. Right click on this tab and rename it "Part B"

3. Set up the following columns within the spreadsheet:

4. Fill in five different prices in the price column. Space the prices out evenly, and place the price you would hope to sell your product/service at in the middle.

5. Survey ten different students in the class. Ask them if they would purchase your product at the various prices you indicated above.

6. Once your survey is complete, use the spreadsheet to total the numbers obtained in your survey. The totals should be placed under the column titled "Total Demand."

7. Graph the results of the price and total demand columns only! Follow the steps outlined below:

1. Highlight the first two columns only (Price and Total Demand. Include the column titles and all of the data under these headings.)
2. With the table still highlighted, click on the chart wizard button in the tool bar .
3. A Chart Wizard window will appear. Under the [Standard Types] tab, select the [XY (Scatter)] option,
4. Under [Chart Sub Type] select the option that shows straight lines connected by data points.
5. Click the [Next] button.
6. A new window will appear. Click the [Series] tab at the top.
7. In the series window, make sure that "Total Demand" is highlighted, then click on the button to the right of the "X Values" cell.
8. The window will disappear. Don't worry. Just highlight all of the data under the "Total Demand" Column. (Do not highlight the column heading!) Then hit the enter key on your keyboard.
9. The Chart Wizard Window will reappear.
10. In the series window, make sure that "Total Demand" is highlighted once again, then click on the button to the right of the "Y Values" cell.
11. The window will disappear. Don't worry. Just highlight all of the data under the "Price" Column. (Do not highlight the column heading!) Then hit the enter key on your keyboard.
12. The Chart Wizard Window will reappear.
13. (At this point the preview window should be showing you a graph that looks similar to the one illustrated below.)
14. Click the [Next] button.
15. Under the [Titles] tab, fill in the following information:
    • Chart Title: Supply and Demand for _______________
    • Value (X) Axis: Quantity
    • Value (Y) Axis: Price
16. Click the [Next] button.
17. Click the [Finish] button.

That's that! You should now have a graph pasted into your worksheet. You can manipulate the size of the graph by clicking on any of the black squares on the graph's border and dragging the mouse.