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BUS1MIS Management Information Systems Semester 1, 2012 Excel: Business Problem Solving Week 4 Lecture 2

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In this lecture the key ideas are: The use of the VLOOKUP formula Presenting data as Charts (graphs)

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We have been using a spreadsheet to model the financial operations of a business. The model needs to be flexible so that we can try out different business scenarios. A way of adding flexibility to our model is to use the VLOOKUP formula.

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There is still some inflexibility in our current model The Income and Expenses section still contains values. We are trying to avoid this situation. Any changes need to occur in the Key Values area of our spreadsheet only. Lecture Example – Queye’s Airport Car Park

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Solution: Use a lookup Table and the VLOOKUP formula The table goes in the Key Values area of the spreadsheet model. Lecture Example – Queye’s Airport Car Park

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VLOOKUP formula The formula =VLOOKUP(17, A1:C4, 2) is in a cell. What value replaces the formula? 56 What????

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VLOOKUP formula =VLOOKUP(17, A1:C4, 2) specifies the lookup table as A1:C4 The formula searches down the first column of the specified table (column A), looking for the largest number less than or equal to 17. It stops at cell A2, then moves across the specified number of columns (2). It stops at cell B2 and returns the value 56.

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VLOOKUP formula Find the values of the following: =VLOOKUP(20, A1:C4, 2) =VLOOKUP(5, A1:C4, 1) =VLOOKUP(50, A1:C4, 3)

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VLOOKUP formula The VLOOKUP formula has the general format of: =VLOOKUP(valueX, TableRange, ColNum, NotExact) NotExact can be TRUE or FALSE. If it is left out of the formula it is TRUE by default. This means that if an exact match with valueX in the first column is not found the formula will match the largest value less than valueX.

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VLOOKUP formula If we only want Excel to find an exact match in the first column we make the NotExact criteria FALSE. =VLOOKUP(20, A1:C4, 3, FALSE) is replaced by “there” =VLOOKUP(21, A1:C4, 3, FALSE) is replaced by #N/A

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VLOOKUP formula Using the NotExact criteria we can lookup text values. Find: =VLOOKUP("Tuesday",A1:C4,2,FALSE) Answer:

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Charts To use Excel to help solve business problems data is often best presented in Chart form How to produce charts in Excel will be demonstrated in the lecture. The steps are listed on the next slide.

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Steps in Creating a Chart in Excel: 1.Enter the numbers into a workbook. 2.Choose your data (including labels where possible). 1.From the Insert tab choose the appropriate type of Chart. 2.Define parameters such as titles, scaling color, patterns, and legend. Note that since the chart is linked to the workbook data, any subsequent changes made to the workbook are automatically reflected in the chart.

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A Bar Chart is usually used to display a change (growth or decline) over a time period. You can quickly compare the numbers of two different bar charts to each other.

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Stacked Column Graph Shows total of all data ranges as well as the proportion of each data range

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Line Chart Shows the relationship of one factor against another

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A PIE Chart is usually used to look at what makes up a whole Something. If you had a pie chart of where you spent your money you could look at the percentages of dollars spent on food (or any other category). For example: Expenses in January

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