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- 1. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.excel 2010Chapter 2Chapter 2Using FormulasUsing Formulasand Functionsand Functions
- 2. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel 2010 Using Formulas and FunctionsExcel 2010 Using Formulas and Functions• Skill 2.1 Using Functions inFormulas• Skill 2.2 Using AutoSum to Inserta SUM Function• Skill 2.3 Creating FormulasUsing the AVERAGE Function• Skill 2.4 Creating FormulasUsing Counting Functions• Skill 2.5 Using Other StatisticalFunctions• Skill 2.6 Using Date and TimeFunctions• Skill 2.7 Using Absolute andRelative References• Skill 2.8 Naming Ranges of Cells• Skill 2.9 Working with NamedRanges• Skill 2.10 Using LogicalFunctions• Skill 2.11 Calculating LoanPayments Using the PMTFunction• Skill 2.12 Finding Data Using theVLOOKUP Function• Skill 2.13 Creating FormulasReferencing Data from AnotherWorksheet• Skill 2.14 Displaying and PrintingFormulas• Skill 2.15 Checking Formulas forErrors2-2
- 3. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.• Functions arepreprogrammed shortcuts forcalculating complex equations(like the monthly paymentamount for a loan).• Most functions require you toprovide input called thearguments.Excel Skill 2.1Excel Skill 2.1Using Functions in FormulasUsing Functions in Formulas2-3
- 4. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Type the formula directly inthe cell or the formula bar.2. Use Formula AutoCompleteby typing = and then a letter.Formula AutoCompletedisplays a list of potentialmatches.3. On the Formulas tab, select afunction from the FunctionLibrary group, or click theInsert Function button toselect a function from theInsert Function dialog box.4. Use AutoSum to insertcommon functions (SUM,AVERAGE, COUNT, MIN,and MAX) with a singlemouse click.Four Basic Ways to Add a Function to a FormulaFour Basic Ways to Add a Function to a Formula2-4
- 5. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.2Excel Skill 2.2Using AutoSum to Insert a SUM FunctionUsing AutoSum to Insert a SUM Function• SUM function - used to add several cells together.=SUM(A3:A6)– The range A3:A6 tells Excel to add the values in all ofthe cells between A3 and A6 ( A3 1 A4 1 A5 1 A6 ).• Ways to Create a SUM Function– Using the Function Arguments dialog box– Using Formula AutoComplete– Using the AutoSum button (much easier because Excelenters the function arguments for you.)2-5
- 6. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Select the cell in which youwant to enter the function.2. On the Formulas tab, in theFunction Library group, or onthe Home tab, in the Editinggroup, click the AutoSumbutton.3. Excel automatically inserts aformula with the SUMfunction, using the range ofcells contiguous to (next to)the selected cell as thearguments for the function.You can increase or decreasethe range of cells selected byclicking & dragging the cornerof the highlighted cell range.4. Press Enter to accept theformula.To Insert a SUM Function Using AutoSumTo Insert a SUM Function Using AutoSum2-6
- 7. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.3Excel Skill 2.3Creating Formulas Using the AVERAGE FunctionCreating Formulas Using the AVERAGE Function• AVERAGE function - used to calculate the average valueof a group of values.=AVERAGE(A3:A6)–The value of this formula is the average of the values of cells A3through A6: (A3 + A4 + A5 + A6)/4.–Average is calculated by adding the values, and then dividing thesum by the number of values.• To calculate the average of numbers in more than onerange of values, use a comma to separate arguments:=AVERAGE(A3:A6,B3:B6)–The value is the average of the values of cells A3 through A6 and B3through B6: (A3+A4+A5+A6+B3+B4+B5+ B6)/8.2-7
- 8. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Select the cell in which youwant to enter the function.2. On the Formulas tab, in theFunction Library group, clickthe AutoSum button arrow,or on the Home tab, in theEditing group, click theAutoSum button arrow, andthen click Average.3. Excel will automatically inserta formula using theAVERAGE function, using therange of cells contiguous to(next to) the selected cell asthe arguments for thefunction. Press Enter toaccept the formula.To Insert an AVERAGE Function Using AutoSumTo Insert an AVERAGE Function Using AutoSum2-8
- 9. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.4Excel Skill 2.4Creating Formulas Using Counting FunctionsCreating Formulas Using Counting Functions• Counting functions are useful when you need toknow how many numbers or items are in a list, orhow many rows are missing data for a particularcolumn• Three basic counting functions in Excel:– COUNT —Counts the number of cells that containnumbers within a specified range of cells.– COUNTA —Counts the number of cells that are notblank within a specified range of cells. Use COUNTA ifyour cell range includes both numbers and text data.– COUNTBLANK —Counts the number of blank cellswithin a specified range of cells.2-9
- 10. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Click in the cell where you wantthe formula.2. Type = COUNT to display theFormula AutoComplete list offunctions that begin with “count”.3. Double-click the function youwant to use.4. Excel enters the beginning ofthe formula in the cell. Click thefirst cell in the range of cells youwant to use for your arguments,and then drag and release themouse button when you reachthe last cell in the range.5. Press Enter. Excel enters thecell range as the functionarguments, and adds ) to theend of the formula.Use Formula AutoComplete to Enter Counting FunctionsUse Formula AutoComplete to Enter Counting Functions2-10
- 11. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.5Excel Skill 2.5Using Other Statistical FunctionsUsing Other Statistical Functions• The MIN (minimum) statistical function will giveyou the lowest value in a range of values.= MIN(A3:A6)• The MAX (maximum) statistical function will giveyou the highest value in a range of values.= MAX(A3:A6)• To explore the wide variety of complex statisticalfunctions available in Excel:–On the Formulas tab, in the Function Library group, clickthe More Functions button and point to Statistical, oropen the Insert Function dialog box and select theStatistical category.2-11
- 12. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Select the cell in which you wantto enter the function.2. On the Formulas tab, in theFunction Library group, click theAutoSum button arrow, or on theHome tab, in the Editing group,click the AutoSum button arrow,and then click Min to display thesmallest value or Max to displaythe highest value.3. Excel automatically inserts aformula, using the range of cellscontiguous to (next to) theselected cell as the argumentsfor the function. Increase ordecrease the range of cellsselected by clicking and draggingthe corner of the highlighted cellrange.4. Press Enter to accept theformula.To Use AutoSumTo Use AutoSum2-12
- 13. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.6Excel Skill 2.6Using Date and Time FunctionsUsing Date and Time Functions• NOW function - inserts the current date and time.= NOW()• TODAY function - inserts only the current date.= TODAY()• Both functions are volatile —that is, they are notconstant.• These functions do not require arguments.2-13
- 14. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Select the cell where youwant the date and time toappear.2. On the Formulas tab, in theFunction Library group, clickthe Date & Time button.3. Click NOW.4. When the FunctionArguments dialog boxappears, click OK.5. If necessary, format the cellto display both the date andtime.To insert just the current date,follow the same steps, butselect the TODAY functioninstead.To Insert the Current Date and TimeTo Insert the Current Date and Time2-14
- 15. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.7Excel Skill 2.7Using Absolute and Relative ReferencesUsing Absolute and Relative References• A cell’s address, its position in the workbook, is referred toas a cell reference when it is used in a formula.• Cell references can be relative, absolute, or mixed.– Relative reference - a cell reference that adjusts to the newlocation in the worksheet when the formula is copied.• Example: A1– Absolute reference - a cell reference whose location remainsconstant when the formula is copied.• Example: $A$1• The $ character before a letter or number in the cell addressmeans that part of the cell’s address is absolute (nonchanging).– A mixed reference is a combination cell reference with a rowposition that stays constant with a changing column position (orvice versa).• Example: $A12-15
- 16. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.• When you type a formula into a cell, ituses relative references by default.• Excel calculates the position of thereferenced cell relative to the activecell.• For example, if cell B17 is the activecell and you type the formula = B16,Excel displays the value of the cell thatis up one row from the active cell.• If you add another row, shifting theposition of cell B17 to cell B18, Exceladjusts the reference in the formula toreflect the new cell address that is upone row from the current position.• If you copy the formula = B16 from cellB17 and paste it into cell C17, thepasted formula will update to = C16 toreflect the cell address that is up onerow from the new position.How Relative and Absolute References WorkHow Relative and Absolute References Work2-16
- 17. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.• But what if you don’t want the cellreference to adjust?• For example, cell B13 contains a valuethat you want to use in calculations formultiple cells in a row.• If you copy the formula =B13*B16 fromcell B17 to cell C17, the formulaupdates to =C13*C16 (not what youintended) because both of the cellreferences are relative.• The reference in cell B13 needs to beabsolute, so it doesn’t update whencopied.• Use the formula =$B$13*B16 insteadand copy it from cell B17 to cell C17.The pasted formula will only update therelative reference (B16).• The absolute reference ($B$13) willremain constant. The formula in cellC17 will be =$B$13*C16.How Relative and Absolute References WorkHow Relative and Absolute References Work2-17
- 18. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.8Excel Skill 2.8Naming Ranges of CellsNaming Ranges of Cells• Cell references like A4 and J34 do not provide muchinformation about what data the cell contains—theyjust tell you where the cell is located in the worksheet.• However, you can assign names to cells or ranges ofcells to give your cell references names that are moreuser-friendly.• These names (also called range names or namedranges) act as a list of shortcuts to the cell locations.2-18
- 19. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Select the cell or range ofcells to which you want toassign a name.2. Type the name in the Namebox to the left of the formulabar.3. Press Enter to apply thename to the cell(s).To Create a Named RangeTo Create a Named Range2-19
- 20. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Select the range of cells youwant to name including therow or column label.2. On the Formulas tab, in theDefined Names group, clickthe Create from Selectionbutton .3. In the Create Names fromSelection dialog box, click thecheck box(es) to indicatewhere the names are (toprow, left column, bottom row,or right column).4. Click OK.Automatically Create Named Ranges Using LabelsAutomatically Create Named Ranges Using Labels2-20
- 21. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.9Excel Skill 2.9Working with Named RangesWorking with Named Ranges• Rather than using a range of cells in your formulas, you can use anamed range. The name will always refer to the cells, even if theirposition in the worksheet changes.• Using named ranges in your formulas also makes it easier for othersto use your workbook. Which formula is easier to understand:SUM(B5:B8) or SUM(JAN)?• Formula AutoComplete lists named ranges as well as functions.• Using the AutoComplete list is a good way to avoid typographicalerrors and ensure that you enter the name correctly.• When you copy and paste a formula containing a named range, thename does not change with the new position in the workbook (similarto using an absolute reference).• If you move a named cell, the name updates with the new cell locationautomatically.2-21
- 22. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Click the cell where you wantto enter the new formula.2. Type the formula, substitutingthe range name for the cellreferences.3. Press Enter to accept theformula.To Use a Named Range in a FormulaTo Use a Named Range in a Formula2-22
- 23. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Type an = sign to begin theformula. As you typealphabetical characters, Excelwill offer name suggestions.2. When you find the name youwant, double-click it.3. Excel inserts the name intothe formula.To Use Formula AutoComplete with NamesTo Use Formula AutoComplete with Names2-23
- 24. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.10Excel Skill 2.10Using Logical FunctionsUsing Logical FunctionsThe logical functions group includes:•IF — Returns one value if a condition is true and anothervalue if the condition is false.•AND —Returns TRUE if the all of the arguments are true,and FALSE if at least one of the arguments is not true.•OR —Returns TRUE if at least one of the arguments is true,and FALSE if all of the arguments are false.•NOT —Returns TRUE if the argument is false, and FALSE ifthe argument is true.•IFERROR —Returns an error message or specified value ifthe value of the referenced cell is an error; else it returns thevalue of the referenced cell.2-24
- 25. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Select the cell where you want toenter the formula.2. On the Formulas tab, in theFunction Library group, click theLogical button.3. Select IF from list of functions.4. Enter Logical_test argument. Thisargument states the condition totest for. Use cell references and/orvalues with logical operators.5. Enter Value_if_true argument.This is the text string or valuedisplayed if the Logical_testargument is true.6. Enter Value_if_ false argument.This is the text string or valuedisplayed if the Logical_testargument is false.7. Click OK.To Use the IF FunctionTo Use the IF Function2-25
- 26. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.11Excel Skill 2.11Calculating Loan Payments Using the PMT FunctionCalculating Loan Payments Using the PMT Function• PMT (payment) function - use to calculate loan payments.• PMT is based upon constant payments and a constant interest rate.• Example formula to calculate payments for a $250,000 loan paid in120 installments at 12 installments per year with an annual percentageinterest rate of 7%:= PMT(7%/12,120,250000)• Example formula using named ranges & cell references where–Interest rate is stored in a cell named Interest_Rate,–Total number of payments is stored in cell H7–Amount of the loan is in a cell named Loan= PMT(Interest_Rate/12,H7,Loan,0,0)• The result of both of these formulas is –2,902.71.• Because the result of the formula is a payment, it is expressed as anegative number.2-26
- 27. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Select the cell where you want toenter the formula.2. On the Formulas tab, in the FunctionLibrary group, click the Financialbutton.3. Select PMT from the list. Exceldisplays the appropriate FunctionArguments dialog box.4. In the Rate box, enter interest ratedivided by number of payments peryear. In the Nper box, enter totalnumber of payments over life ofloan.5. In the Pv box, enter the presentvalue of the loan.6. (Optional) In the Fv box, enter thefuture value of the loan.7. (Optional) In the Type box, enter 1 ifpayment is at beginning of period.8. Click OK to enter the formula.To Use the PMT FunctionTo Use the PMT Function2-27
- 28. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.12Excel Skill 2.12Finding Data Using the VLOOKUP FunctionFinding Data Using the VLOOKUP Function• Lookup and reference functions return values based on a cell’sposition in a table or array.• Example: Use the VLOOKUP function to look up the part of a loanpayment that is applied to the principal of the loan by:– returning the value of column 7 (the Principal column)– within the range named Loan_Data (cells A20:I123),– where the value in the first column of the data array (the PmtNo column) isthe value in cell D13:= VLOOKUP(D13,LoanRange,7)2-28
- 29. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Select cell to enter the formula in.2. On the Formulas tab, in the FunctionLibrary group, click Lookup &Reference button.3. Select VLOOKUP from list. Exceldisplays the appropriate FunctionArguments dialog box.4. In Lookup_value box, enter value infirst column to return a correspondingvalue for.5. In Table_array box, enter range of cellsfor array (or table or range name).6. In Col_index_num box, enter columnnumber from which function shouldreturn matching value.7. (optional) In Range_lookup box, enterFALSE to find only an exact match forvalue entered in Lookup_value box.8. Click OK.To Use the VLOOKUP FunctionTo Use the VLOOKUP Function2-29
- 30. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.13Excel Skill 2.13Creating Formulas Referencing Data from Another WorksheetCreating Formulas Referencing Data from Another Worksheet• Cell references are not limited to cells within the sameworksheet.• Reference cells in other worksheets in a workbook or otherworkbooks. This is useful when creating summary sheetsor performing analysis on data from multiple sheets.• For example, this formula will display the value of cell B3from the Cash Flow worksheet:= ‘Cash Flow’!B3• If multiple workbooks are open, click a cell in anotherworkbook to create an external reference. The referencewill look like this:= B17 + ‘[Four Year Profit Projections.xlsx]Salaries’!$D$62-30
- 31. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. Click the cell where you wantthe formula.2. Type an equal sign ( = ).3. Navigate to the cell you wantto reference by clicking thesheet tab and then clickingthe cell.4. Press Enter to complete theformula.To Include a Reference to a Cell From Another SheetTo Include a Reference to a Cell From Another Sheet2-31
- 32. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.14Excel Skill 2.14Displaying and Printing FormulasDisplaying and Printing Formulas• How do you troubleshoot a worksheet that isdisplaying unexpected values?• When you look at a worksheet, you see only theresults of formulas—cells display the values, not theformulas themselves.• When you click a cell, the formula is displayed in theformula bar. But what if you want to view all of theformulas in your worksheet at once?– To display the formulas in the current worksheet insteadof values, on the Formulas tab in the Formula Auditinggroup, click the Show Formulas button.2-32
- 33. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. First display the formulas inthe worksheet by clicking theShow Formulas button.2. Next, print the worksheet:a. Click the File tab.b. Click Print.c. At the right side of thepage is a preview of howthe printed file will look.Adjust the print settings ifnecessary.d. Click the Print button tosend the file to yourdefault printer.To Print a Copy of the Worksheet with FormulasTo Print a Copy of the Worksheet with Formulas2-33
- 34. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel Skill 2.15Excel Skill 2.15Checking Formulas for ErrorsChecking Formulas for Errors• Some worksheet errors are easily identifiable—such asdivide by zero errors: #DIV/0! (Excel cannot calculate avalue to display).• Other potential errors, like formulas that leave out part of acell range, are harder to find.• Use Excel’s Error Checking function to review a worksheetfor errors.– The Error Checking dialog box displays each error it finds,allowing you to resolve or ignore each error in turn.– If Excel is able to offer a solution to the error, the dialog boxwill include a button to accept the suggested fix.• Click Help on this error button to open Microsoft Office Help.• Click Ignore Error to dismiss error.• Click Edit in Formula Bar to fix the error manually.2-34
- 35. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. On the Formulas tab in theFormula Auditing group, clickthe Error Checking button.2. The Error Checking dialogbox displays informationabout the first error. Thebuttons available in the dialogbox will differ, depending onthe type of error found.3. Click the Next button to seethe next error in yourworksheet.4. When you have reviewed allerrors, Excel displays amessage that the error checkis complete. Click OK todismiss the message box.To Use Error Checking to Find Errors in WorksheetTo Use Error Checking to Find Errors in Worksheet2-35
- 36. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.1. When a Smart Tag appears, movemouse over icon to display a ToolTipdescribing possible error.2. Click Smart Tag arrow to displaypossible error resolutions.3. To keep formula as it is, select IgnoreError.4. To resolve error, select an option:1. The first option is usually a suggestionof how to resolve error. Click toaccept Excel’s suggestion.2. Select Help on this error to openMicrosoft Office Help.3. Select Edit in Formula Bar tomanually edit the formula.4. Select Error Checking Options. . . toopen Options dialog box and modifythe way Excel checks for errors.5. After making selection from Smart Tagoptions, the Smart Tag is dismissed.To Use Smart Tags to Resolve Errors in FormulasTo Use Smart Tags to Resolve Errors in Formulas2-36
- 37. askillsapproach© 2012 The McGraw-Hill Companies, Inc. All rights reserved.Excel 2010 Using Formulas and Functions RecapExcel 2010 Using Formulas and Functions Recap• Skill 2.1 Using Functions inFormulas• Skill 2.2 Using AutoSum to Insert aSUM Function• Skill 2.3 Creating Formulas Usingthe AVERAGE Function• Skill 2.4 Creating Formulas UsingCounting Functions• Skill 2.5 Using Other StatisticalFunctions• Skill 2.6 Using Date and TimeFunctions• Skill 2.7 Using Absolute and RelativeReferences• Skill 2.8 Naming Ranges of Cells• Skill 2.9 Working with NamedRanges• Skill 2.10 Using Logical Functions• Skill 2.11 Calculating LoanPayments Using the PMT Function• Skill 2.12 Finding Data Using theVLOOKUP Function• Skill 2.13 Creating FormulasReferencing Data from AnotherWorksheet• Skill 2.14 Displaying and PrintingFormulas• Skill 2.15 Checking Formulas forErrors2-37

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