The document discusses using functions in Excel. It defines what functions are and their key parts. It explains the different types of functions including mathematical, statistical, financial, logical, and text functions. It also outlines how to enter formulas with functions using the Insert Function dialog box or directly in cells.

1. Excel Lesson 5
Using Functions
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Introductory
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2. Objectives
 Identify the parts of a function.
 Enter formulas with functions.
 Use functions to solve mathematical
Excel – Lesson 5
problems.
 Use functions to solve statistical problems.
 Use functions to solve financial problems.
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3. Objectives (continued)
 Use logical functions to make decisions with
worksheet data.
 Use functions to insert times and dates in a
worksheet.
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 Use text functions to format and work with
cell contents.
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4. Vocabulary
 Argument  Logical functions
 Date and time  Mathematical
functions functions
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 Financial functions  Statistical functions
 Formula  Text functions
AutoComplete  Trigonometric
 Function functions
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5. What are Functions?
 A shorthand way to write an equation that performs a
calculation.
– For example, the SUM function adds values in a range of cells.
 A formula with a function has three parts
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– an equal sign, a function name, and at least one argument.
 The equal sign identifies the cell contents as a
formula. The function name identifies the operation to
be performed.
 The argument is the value the function uses to
perform a calculation, including a number, text, or a
cell reference that acts as an operand.
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6. Entering Formulas with Functions
 The best way to select a function is from the
Insert Function dialog box.
– Click the Insert Function button on the Formula Bar
to open the Insert Function dialog box.
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 Can also enter a formula with a function directly in a
cell by typing an equal sign, the function name, and
the argument.
 Formula AutoComplete helps you enter a formula
with a valid function name and arguments.
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7. Types of Functions
 Mathematical functions and trigonometric functions:
These functions manipulate quantitative data in a
worksheet.
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8. Types of Functions (continued)
 Statistical functions: Statistical functions are used to
describe large quantities of data.
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9. Financial functions
 Financial functions are used to analyze loans
and investments. The primary financial functions
are future value, present value, and payment.
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10. Types of Functions (continued)
 Logical functions, such as the IF function, display
text or values if certain conditions exist.
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11. Types of Functions (continued)
 Date and Time functions: Functions can be used to
insert dates and times. For example, date and time
functions can be used to convert serial numbers to a
month, a day, or a year. A date function can also be
used to insert the current date or the current date
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and time.
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12. Text functions
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13. Summary
 A function is a shorthand way to write an equation that performs a
calculation. A formula with a function has three parts: an equal
sign, a function name, and at least one argument, which acts as
an operand.
 The best way to select a function is from the Insert Function dialog
box. The Function Arguments dialog box provides a description of
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each argument you enter for the function.
 When you type a formula with a function directly in a worksheet
cell, Formula AutoComplete helps you enter a formula with a valid
function name and arguments.
 Functions can be used to perform mathematical, statistical,
financial, and logical operations. They can also be used to insert
and calculate dates and times and to format text.
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