This document discusses formulas and functions in Excel. It defines formulas as mathematical expressions that perform calculations using values, cell references, and operators. Functions are predefined Excel formulas that can quickly perform common tasks like summing or averaging ranges of cells. Examples of commonly used functions include SUM, AVERAGE, MAX, MIN, and COUNT. The document also distinguishes between contiguous and non-contiguous cell ranges and identifies common symbols used in formulas like exponents, parentheses, multiplication, and more.