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# Exp2003 exl ppt_04

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### Exp2003 exl ppt_04

1. 1. Exploring Microsoft Excel 2003 Committed to Shaping the Next Generation of IT Experts. Chapter 4: Spreadsheets in Decision Making: What If? Robert Grauer and Maryann Barber
2. 2. Objectives <ul><li>Use the PMT function to calculate the payment of a car loan or mortgage. </li></ul><ul><li>Use the FV function to determine the future value of a retirement account </li></ul><ul><li>Explain how the Goal Seek command facilitates the decision-making process </li></ul><ul><li>Use mixed references to vary two parameters in a table </li></ul><ul><li>Use the AVERAGE, MAX, MIN, and COUNT functions </li></ul>
3. 3. Objectives (continued) <ul><li>Use the IF and VLOOKUP functions to implement decision making </li></ul><ul><li>Freeze, unfreeze, hide, and unhide, rows and columns in a worksheet </li></ul><ul><li>Use the AutoFilter command to display selected records in a list </li></ul><ul><li>Describe the options in the Page Setup command used with large worksheets </li></ul>
4. 4. Case Study: Vacation Time <ul><li>In this case study, students are asked to complete a worksheet that was started by someone else. The worksheet contains information about employees. They need to use date arithmetic to calculate how long an employee has been working here, use the VLOOKUP and IF functions to make determinations on how much vacation time each employee is entitled to and if he or she has any time left. After using these functions, students create some simple statistics, using built-in statistical functions. </li></ul>
5. 5. Using Functions <ul><li>Function – a predefined computational task </li></ul><ul><li>Requires arguments </li></ul><ul><ul><li>Values the function uses to calculate answers </li></ul></ul><ul><li>Returns a value </li></ul>
6. 6. The PMT Function <ul><li>Calculates a periodic payment, such as a car or mortgage payment </li></ul><ul><li>Based on: </li></ul><ul><ul><li>Amount financed </li></ul></ul><ul><ul><li>Interest rate </li></ul></ul><ul><ul><li>Number of periods </li></ul></ul>
7. 7. Using the PMT function Interest rate divided by 12 Number of payments multiplied by 12 Amount financed expressed as a negative number Amount financed, interest rate, and the term, are all isolated as assumptions. One or more assumptions can be changed
8. 8. The FV function <ul><li>Returns the future value of a series of payments </li></ul><ul><ul><li>For example, contributions to your 401K or IRA </li></ul></ul><ul><li>Based on: </li></ul><ul><ul><li>Number of periods </li></ul></ul><ul><ul><li>Expected rate of return </li></ul></ul><ul><ul><li>Amount invested each period </li></ul></ul>
9. 9. Using the FV Function Amount of contribution, rate of return, and years contributing are all expressed as assumptions
10. 10. Inserting a Function <ul><li>Use the Insert Function command from the Insert menu </li></ul><ul><li>Use the list box to select the name of the function </li></ul><ul><ul><li>Functions are categorized </li></ul></ul><ul><li>Let the Wizard help you enter the arguments </li></ul><ul><ul><li>Point to enter cell references </li></ul></ul><ul><ul><li>Use the Collapse button to collapse the dialog box </li></ul></ul>
11. 11. The Function Wizard Enter arguments into text boxes Collapse button shrinks dialog box if necessary Value returned by the function (answer) is displayed
12. 12. The Goal Seek Command <ul><li>Allows you to set an end result and vary the inputs (assumptions) to produce that result </li></ul><ul><ul><li>Only one input can be varied at a time </li></ul></ul><ul><ul><ul><li>All other assumptions remain constant </li></ul></ul></ul><ul><ul><li>For example, set a desired monthly car payment </li></ul></ul><ul><ul><ul><li>Vary the amount financed </li></ul></ul></ul><ul><ul><ul><li>Interest rate and number of months remain the same </li></ul></ul></ul>
13. 13. Using the Goal Seek Command Enter the cell containing the desired result Enter the desired value Enter the cell containing the desired result
14. 14. Hands-on Exercise 1 <ul><li>Title of Exercise: Basic Financial Functions </li></ul><ul><li>Objective: To illustrate the PMT and FV functions; to illustrate the Goal Seek command. </li></ul><ul><ul><li>Input file: None </li></ul></ul><ul><ul><li>Output file: Basic Financial Functions </li></ul></ul>
15. 15. Developing Proficiency <ul><li>Use relative and absolute references correctly </li></ul><ul><ul><li>Use relative cell references if the value will change when a cell is copied </li></ul></ul><ul><ul><li>Use absolute references if the value remains constant (typically assumptions) </li></ul></ul><ul><li>Mixed references </li></ul><ul><ul><li>Use when either the row or the column will change </li></ul></ul><ul><li>Isolate your assumptions </li></ul><ul><ul><li>Formulas in cells refer to the assumptions area, not to the actual values </li></ul></ul>
16. 16. Using Mixed References Mixed references used for number of payments, rate of return Absolute reference used for amount of contribution
17. 17. Hands-on Exercise 2 <ul><li>Title of Exercise: Advanced Financial Functions </li></ul><ul><li>Objective: To use relative, absolute, and mixed references in conjunction with the PMT and FV functions; to practice various formatting commands. </li></ul><ul><ul><li>Input file: None </li></ul></ul><ul><ul><li>Output file: Advanced Financial Functions </li></ul></ul>
18. 18. Statistical Functions <ul><li>MAX, MIN, and AVERAGE functions </li></ul><ul><ul><li>Return highest, lowest, and average values from an argument list </li></ul></ul><ul><ul><ul><li>Argument list may include cell references, cell ranges, values, functions, or formulas </li></ul></ul></ul><ul><ul><ul><li>Cells that are empty or contain text are not included </li></ul></ul></ul><ul><li>COUNT and COUNTA functions </li></ul><ul><ul><li>COUNT returns number of cells containing numeric entries or formulas that return a number </li></ul></ul><ul><ul><li>COUNTA also includes cells with text </li></ul></ul>
19. 19. Using Functions versus Formulas <ul><li>In general, use functions instead of formulas </li></ul><ul><ul><li>Functions are adjusted as rows or columns are deleted or added within the range referenced by the function </li></ul></ul><ul><ul><li>With formulas </li></ul></ul><ul><ul><ul><li>Adding a row adjusts the cell references in the formula, but does not include the new row in the formula </li></ul></ul></ul><ul><ul><ul><li>Deleting a row causes a #REF error message </li></ul></ul></ul>
20. 20. The IF Function <ul><li>Enables decision making in a worksheet </li></ul><ul><li>Requires three arguments: </li></ul><ul><ul><li>A condition </li></ul></ul><ul><ul><li>A value if the condition is true </li></ul></ul><ul><ul><li>A value if the condition is false </li></ul></ul><ul><li>Condition must be able to be evaluated as true or false </li></ul><ul><ul><li>Uses relational operators (=, <, etc.) </li></ul></ul>
21. 21. Using the IF Function Incorrectly Value_if_true entered as a conditional test. Function will return True or False
22. 22. Using the IF Function Correctly Value_if_true entered as a value. Value_if_false entered as a cell reference
23. 23. The VLOOKUP function <ul><li>Allows Excel to look up a value in a table and return a related value </li></ul><ul><li>Requires three arguments: </li></ul><ul><ul><li>the numeric value (or cell) to look up </li></ul></ul><ul><ul><li>the range of the table </li></ul></ul><ul><ul><li>the column number containing the value you want to return </li></ul></ul>
24. 24. Using the VLOOKUP Function This argument tells the function where to look. Absolute references used for the table Look in the second column of the table, NOT in column J Look up the value found in cell I4, in this case, the semester average
25. 25. Working With Large Worksheets <ul><li>Scrolling causes the screen to move horizontally or vertically as you change the active cell </li></ul><ul><ul><li>Drag the horizontal or vertical scroll bars </li></ul></ul><ul><ul><li>Click above or below vertical scroll bars </li></ul></ul><ul><ul><li>Click to the left or right of horizontal scroll bars </li></ul></ul><ul><li>Freezing Panes allows row and column headings to remain visible while scrolling </li></ul><ul><li>Hiding rows and columns makes rows and columns invisible on the monitor or when printed </li></ul>
26. 26. Freezing Panes As you scroll back up, rows 4-8 will become visible again
27. 27. Printing Large Worksheets <ul><li>Page Preview command (View menu) lets you see where the page breaks are </li></ul><ul><li>Page Setup command (File menu) lets you change how the sheet prints </li></ul><ul><ul><li>Change from portrait (8 ½ x 11) to landscape (11 x 8 ½) </li></ul></ul><ul><ul><li>Change margins </li></ul></ul><ul><ul><li>Scale the worksheet to print on one sheet </li></ul></ul>
28. 28. The AutoFilter Command <ul><li>Allows you to display a selected set of rows within a worksheet </li></ul><ul><ul><li>Displays rows that meet selected criteria </li></ul></ul><ul><ul><li>Other rows are hidden, not deleted </li></ul></ul><ul><li>Select Filter then AutoFilter from the Data menu </li></ul><ul><li>Select criteria from the dropdown </li></ul>
29. 29. Using the AutoFilter Command Click the dropdown on the Homework column, then select Poor as the criteria
30. 30. Hands-on Exercise 3 <ul><li>Title of Exercise: The Expanded Grade Book </li></ul><ul><li>Objective: To develop the expanded grade book; to use statistical (AVERAGE, MAX, and MIN) and logical (IF and VLOOKUP functions); to demonstrate scrolling and the Freeze Panes command </li></ul><ul><ul><li>Input file: Expanded Grade Book </li></ul></ul><ul><ul><li>Output file: Expanded Grade Book Solution </li></ul></ul>
31. 31. Summary <ul><li>Financial functions (PMT and FV) </li></ul><ul><li>Goal Seek enhances decision making </li></ul><ul><li>Statistical functions (MAX, MIN, AVERAGE, COUNT, and COUNTA) </li></ul><ul><li>Decision making functions (IF, VLOOKUP, and HLOOKUP) </li></ul><ul><li>Isolate and clearly label initial assumptions </li></ul>
32. 32. Summary (continued) <ul><li>Copy using fill handle </li></ul><ul><li>Use scrolling & the Freeze Panes command to work with large worksheets </li></ul><ul><li>Page Setup controls how the worksheet prints </li></ul><ul><li>AutoFilter command displays only rows that meet certain criteria </li></ul>
33. 33. End-of-chapter Exercises <ul><li>Multiple Choice </li></ul><ul><li>Practice Exercises </li></ul><ul><ul><li>Exercise 1 – Calculating Your Retirement </li></ul></ul><ul><ul><li>Exercise 2 – Alternate Grade Book </li></ul></ul><ul><ul><li>Exercise 3 – Expanded Payroll </li></ul></ul><ul><ul><li>Exercise 4 – Fuel Estimates </li></ul></ul><ul><ul><li>Exercise 5 – The Roth IRA </li></ul></ul><ul><ul><li>Exercise 6 – Celebrity Birthdays </li></ul></ul><ul><ul><li>Exercise 7 – The Health Club </li></ul></ul><ul><ul><li>Exercise 8 – File Formats and Folders </li></ul></ul>
34. 34. End-of-Chapter Exercises (continued) <ul><li>Practice Exercises </li></ul><ul><ul><li>Exercise 9 – Nested Ifs and Other Functions </li></ul></ul><ul><ul><li>Exercise 10 – Election 2000 </li></ul></ul><ul><li>Mini Cases </li></ul><ul><ul><li>The Financial Consultant </li></ul></ul><ul><ul><li>Fun with the If Statement </li></ul></ul><ul><ul><li>The Lottery </li></ul></ul><ul><ul><li>A Penny a Day </li></ul></ul><ul><ul><li>The Rule of 72 </li></ul></ul>
35. 35. Questions?