DAY 5: EXCEL CHAPTER 2 Sravanthi Lakkimsetty Feb 1, 2016

ANNOUNCEMENTS Make sure that you have updated your student ID in MYITLAB after registration. MYITLAB Lesson A is due today by 11:59 PM. Homework 1 is due on Saturday, Feb 6, Homework 2 has been released and is due on Friday, Feb 12.

OVERVIEW Relative, absolute and mixed cell references Functions Statistical Functions Date Functions Logical Functions IF Function Nested IF Function

CELL REFERENCES Used in formulas so that they can be copied and reused easily. In some cases, we want the references to cells to move down, or over as we copy the formula. In other cases, we do not want the reference to change even if we do move.

RELATIVE VS ABSOLUTE ADDRESSING Relative cell references indicate a cell’s relative location from the cell containing the formula; the cell reference changes when the formula is copied Absolute cell references indicates a cell’s specific location; the cell reference does not change when you copy the formula - Indicated by dollar ($) signs in front of the column letter and row number - Most often used when the value need not change Mixed cell references contains both an absolute and relative cell references in a formula

CELL REFERENCES(CONTD) Relative referenceA1 Column absolute mixed reference$A1 Row absolute mixed referenceA$1 Absolute reference$A$1

AVOIDING CIRCULAR REFERENCES A circular reference error occurs if a formula refers to itself

FUNCTION Function is a predefined formula that performs a calculation. Syntax is a set of rules that govern the structure and components for properly entering a function. An Argument is an input, such as cell reference or value, needed to complete a function. A function begins with the equal sign (=) followed by the function name and arguments in parentheses Example: =SUM(A1:A3)

INSERTING A FUNCTION When a function is typed, Formula AutoComplete displays a list of functions matching the partial entry Use the Insert Function dialog box to search for a function or select one from a list.

FUNCTION CATEGORIES AND DESCRIPTION CategoryDescription CompatibilityContains functions compatible with Excel 2007 and earlier. CubeReturns values based on data in a cube. DatabaseAnalyses records stored in a database format in Excel. Date & TimeProvides methods for manipulating date and time values. EngineeringCalculates values commonly used by engineers. FinancialPerforms financial calculations. InformationProvides information about the contents of a cell. LogicalPerforms logical tests and returns the value of tests. Lookup & Reference Looks up values, creates links to cells, provides references to cells. Math & TrigPerforms standard math and trigonometry functions. StatisticalPerforms common statistical calculations. TextManipulates text strings.

SUM SUM is the most commonly used function –represented by a sigma (  ) –Adds values within a specified range Syntax refers to the grammatical structure of a formula –Must adhere to stated structure of formula Arguments are values ─ used as input and returned as output Example: = Sum (B1:B10) Function Name Arguments

AUTOSUM Automates the SUM function Click the cell where you want the result Click AutoSum button Select the range of cells you want to sum Press Enter to complete

BASIC STATISTICAL FUNCTIONS Perform a variety of calculations to aid in decision making process –AVERAGE calculates the average of a range of numbers –MEDIAN finds the midpoint value in a range –MIN calculates the minimum value in a range –MAX calculates the maximum value in a range –COUNT counts the number of values within a range

COUNT Statistical Functions – COUNT, COUNTA COUNT function counts the number of cells in a range that contain numerical data. COUNTA function counts the number of cells in a range that are not blank. COUNTBLANK counts the number of blanks in the given range. Ex: COUNT(C6:C24) COUNTA(E2:E10) COUNTBLANK(J9:J16)

DATE/TIME FUNCTIONS Function SyntaxDescription =TODAY()Displays today’s date: month, day, year =NOW()Displays today’s date and current military time =DATE(year,month,day)Returns serial number for a date =EDATE(start_date,months)Displays serial number of a date a specified number of months in future or past =DAY(serial_number)Displays the day within a month for a serial number =MONTH(serial_number)Returns the month for a serial number =YEAR(serial_number)Identifies the year for a serial number

LOGICAL FUNCTIONS IF function Logical Operators OperatorDescription =Equal to <>Not equal to <Less than >Greater than <=Less than or equal to >=Greater than or equal to

IF FUNCTION Used to determine whether a given condition has been satisfied or not When the condition is met, the formula performs one task; when it is not met, the formula performs another task Has three arguments: –a condition tested to determine if it is true or false –the resulting value if the condition is true –the resulting value if the condition is false

IF (CONTD.) Syntax: IF(condition, value_if_true, value_if_false) Value when condition is false Value when condition is true Condition is true or false IF(H4=100, “Good”, “Bad”)

LOOKUP FUNCTIONS Lookup functions are used to look up values in a table to perform calculations or display results A Lookup table is a range that contains data for the basis of the lookup and data to be retrieved.

VLOOKUP(CONTD.) Syntax =VLOOKUP(lookup value, lookup table, column index number, [range lookup]) The lookup value ─ value to look up in a reference table The lookup table ─ a range of cells containing the reference table The column index number ─ the column number in the lookup table that contains return values

EXAMPLE Converting the Number grades to the letter grades

HLOOKUP FUNCTION The HLOOKUP function is used when the breakpoints and return data are placed in rows The third argument now lists the row index

FINANCIAL FUNCTIONS Used for decisions involving payments, investments, interest rates, etc. Allows you to consider several alternatives PMT

PMT FUNCTION Used to calculate loan payments Has three arguments: –the interest rate per period –the number of periods –the amount of the loan Computes the associated payment on a loan

PMT(CONTD.) Syntax: Pmt( interest_rate, number_payments, PV, [FV],[Type] ) Example: –Pmt(7%/12, 2*12, 5000, 0, 0) –returns the monthly payment on a $5,000 loan at an annual rate of 7%. The loan is paid off in 2 years (ie: 2 x 12). – E2 - 7% ; E ; E4 - $5, – PMT ( E2/12, E3, - E4 )

RANGE NAMES A range name is a word or phrase used to identify a cell or cell range Range names make formulas easier to read Range names use the following rules: –1to 255 characters –Begin with a letter or underscore (_) –Contain letters, digits, period, underscore.

CREATING AND MAINTAINING A RANGE NAME Type the range name in the Name Box area Enter the name using New Name dialog box Name Manager dialog box is used to edit or delete a range name Insert a table of Range Names ( Use in Formula -> Paste Names)

RANK FUNCTION The RANK function is useful for producing a ranking by using a formula Syntax =RANK(number, range, order) number: the number/cell for which you want to find the ranking within the “range” range: range of numbers/cells within which the “number” will be ranked order: not really required for our purposes. Leave it blank do not put anything.