1. 1 Excel Lesson 5 Using Functions Microsoft Office 2010 Introductory Pasewark & Pasewark

2. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 222 Objectives Identify the parts of a function. Enter formulas with functions. Use functions to solve mathematical problems. Use functions to solve statistical problems. Use functions to solve financial problems.

3. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 333 Objectives (continued) Use logical functions to make decisions with worksheet data. Use functions to insert times and dates in a worksheet. Use text functions to format and display cell contents.

4. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory What Are Functions? A function is a shorthand way to write an equation that performs a calculation. A formula with a function has three parts: – 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. 444

5. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory What Are Functions? If a function contains more than one argument, commas separate the arguments. 555

6. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory What Are Functions? (continued) Parts of a function 6

7. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 777 Entering Formulas with Functions To enter a formula with a function, you need to do the following. – Start the formula with an equal sign. – Select or enter the function you want to use. – Select or enter the arguments. – Enter the completed formula.

8. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 888 Entering Formulas with Functions Because Excel includes so many functions, the best way to select a function is to use the Insert Function dialog box.

9. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 999 Entering Formulas with Functions You can use the Insert Function dialog box to find a specific function. In the Search for a function box, type a brief description of what you want to do, then, click Go.

10. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 10 Entering Formulas with Functions To open the Insert Function dialog box, click the Insert Function button on the Formula Bar. If you know the function you want to enter, you can click the appropriate category button in the Function Library group on the Formula tab of the Ribbon.

11. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory Entering Formulas with Functions (continued) Insert Function dialog box 11

12. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 12 Entering Formulas with Functions (continued) You can also enter a formula with a function directly in a cell by typing an equal sign, the function name, and the argument. You can also enter a formula with the AVERAGE, COUNT, MAX, OR MIN function in a selected cell by clicking the SUM button arrow in the Editing group on the Home tab, clicking the function name, selecting the appropriate range, and then pressing the Enter key. 12

13. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 13 Entering Formulas with Functions (continued) Formula AutoComplete helps you enter a formula with a valid function name and arguments. – As you begin to type the function name, a list of function names appears below the active cell. – Example: when you type =s, all functions that begin with the letter s appear in the list box, such as SEARCH, SECON, etc. 13

14. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 14 Entering Formulas with Functions (continued) If you plan to use the Formula AutoComplete to help you enter some formulas in a worksheet, you must type the first letters in a cell to access Formula AutoComplete. 14

15. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 15 Entering Formulas with Functions (continued) The SUM function can total the values stored in up to 255 non-adjacent cells or ranges. 15

16. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 16 Entering Formulas with Functions (continued) When you find a formula you want to use in the Formula AutoComplete, you can access a screen tip to guide you in entering the necessary arguments by double-clicking the name of the function. 16

17. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 17 Types of Functions Mathematical functions and trigonometric functions manipulate quantitative data in a worksheet. Mathematical functions are functions such as the square root functions, that manipulate quantitative data in a worksheet. 17

18. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 18 Types of Functions Some mathematical operations, such as addition and subtraction, do not require functions. Mathematical and trigonometric functions are particularly useful when you need to determine values such as logarithms, factorials, and sines. 18

19. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 19 Types of Functions The Round function is considered to be a mathematical function. The rounding operation requires two arguments, which are separated by a comma. 19

20. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory Types of Functions (continued) Commonly used mathematical and trigonometric functions 20

21. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 21 Types of Functions (continued) Statistical functions are used to describe quantities of data. For example, statistical functions can determine: – the average, standard deviation, or variance of a range of data. – the number of values in a range, the largest value in a range, and the smallest value in a range. 21

22. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory Types of Functions (continued) Commonly used statistical functions 22

23. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 23 Types of Functions (continued) Financial functions are used to analyze loans and investments. Some commonly used financial functions are future value, present value, and payment. 23

24. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory Types of Functions (continued) Commonly used financial functions 24

25. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 25 Types of Functions (continued) In a PMT function, the argument indicated by fv refers to future value. If the PMT shows answer of -250, this means the entry is a payment. – See next slide 25

26. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 26 Types of Functions (continued) Note the Annual Interest Rate is 0.015 or 1.5% 26

27. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 27 Types of Functions (continued) Logical functions, such as the IF function, display text or values if certain conditions exist. – The first argument sets a condition for comparison, called a logical test. The second argument determines the value if the logical test is true. The third argument determines the value if the logical test is false. For example, the formula =IF(C4>60,“PASS”,“FAIL”) returns PASS if the value in cell C4 is greater than 60; otherwise the formula returns FAIL. 27

28. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 28 Types of Functions (continued) You must use quotation marks to enclose the text you want the IF function to return in the second and third arguments. 28

29. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory Types of Functions (continued) Commonly used logical functions 29

30. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 30 Types of Functions (continued) The NOT Logical function returns a value of TRUE if the argument is false, and FALSE, if the argument is true. In the IF function, the third argument determine the value that appears in the cell if the logical test is TRUE. 30

31. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 31 Types of Functions (continued) Date and Time functions can also be used to insert dates and times in a worksheet. 31

32. Excel Lesson 5 Pasewark & Pasewark Microsoft Office 2010 Introductory 32 Types of Functions (continued) Text functions are used to format and display cell contents. 32