IT133 Software Applications - Professor Kurt Brandquist - Unit 6 Seminar: Formulas and Functions Wednesday, 4/6/11 WELCOME Please hold all comments so we can get started.

Create and copy formulas Use relative and absolute cell addresses Outline Create and copy formulas Use relative and absolute cell addresses Use AutoSum Insert basic statistical functions Use date functions Use the IF function Use the VLOOKUP function Use the PMT function Use the FV function Welcome to CS114 - Academic Strategies for the IT Professional. My name is Kurt Brandquist and I will be your instructor over the next 10 weeks. I have an undergraduate degree in Operations Research from the Naval Academy and a master’s degree in Computer Systems Management from the University of Maryland. I am married, have 2 daughters, 3 stepsons, 1 grandson and live outside Annapolis, MD. My contact information is as follows: Email: kbrandquist@kaplan.edu Office Hours: Via AIM, twice a week. Mondays from 9-10pm and Wednesdays from 9-10pm. My AIM ID is kbquist84. Phone: 410-279-0877

Must begin with an equals (=) sign Contain mathematical operators Formula Basics Formulas are used to perform mathematical operations and arrive at a calculated result Must begin with an equals (=) sign Contain mathematical operators Used to automate calculations that were once done manually Welcome to CS114 - Academic Strategies for the IT Professional. My name is Kurt Brandquist and I will be your instructor over the next 10 weeks. I have an undergraduate degree in Operations Research from the Naval Academy and a master’s degree in Computer Systems Management from the University of Maryland. I am married, have 2 daughters, 3 stepsons, 1 grandson and live outside Annapolis, MD. My contact information is as follows: Email: kbrandquist@kaplan.edu Office Hours: Via AIM, twice a week. Mondays from 9-10pm and Wednesdays from 9-10pm. My AIM ID is kbquist84. Phone: 410-279-0877 3

Creating a Formula Rather than typing a cell address, use an alternative method that involves minimal typing Pointing uses the mouse or arrow keys to select the cell directly when creating a formula

Copy Formulas with Fill Handle Use the fill handle, a small black square in the bottom right corner of a selected cell, to copy formulas Provides a clear-cut alternative method for copying the contents of a cell Can be used to duplicate formulas 5

Relative vs. Absolute Addressing Relative cell references change relative to the direction in which the formula is copied Absolute cell references are exact; they do not change when a formula is copied Indicated by dollar ($) signs in front of the column letter and row number Most often used when the value need not change, such as a sales tax percentage. Use the F4 key to toggle between relative and absolute cell referencing 6

Using Absolute References 7

Functions A predefined formula that can be selected from a list Already has the formula information; just requires cell references Do not replace all formulas Take values, perform operations, and return results 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 Function Wizard automates entering the function formulas 8

Inserting a Function 9

Inserting a Function 10

Automates the SUM function Click the cell where you want the result Using 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 An example of AutoSum, =Sum(C4:C10) represents sum of all the cells in the cell range C4 to C10 11

Basic Statistical Functions Perform a variety of calculations to aide in decision making process AVERAGE calculates the average of a range of numbers 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 MEDIAN finds the midpoint value in a range 12

Efficiently handle time-consuming procedures Date Functions Efficiently handle time-consuming procedures Help analyze data related to the passing of time TODAY function places the current date in the selected cell =TODAY() Updates when file is opened again NOW function displays current date and time, side by side 13

Logical and Lookup Functions Logical functions help in decision making Lookup functions are very useful for looking up data entered in a specific range of cells Example: Well suited well for tax tables Searches for a value based on a cell reference Two types: VLOOKUP and HLOOKUP VLOOKUP arranges data vertically HLOOKUP arranges data horizontally 14

Working with Logical Functions A comparison operator is a symbol that indicates the relationship between two values 15

Working with Logical Functions 16

Used to determine whether a condition has been met IF Function Used to determine whether a condition has been met Has three arguments: =IF(condition,value_if_true,value_if_false) 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 When the condition is met, the formula performs one task; when it is not met, the formula performs another task 17

Allows for lookup within a vertical table of information VLOOKUP Allows for lookup within a vertical table of information Well suited for large tables of data, such as tax tables Has three required arguments and one optional argument: VLOOKUP(lookup_value,table_array,col_index_num,r ange_lookup) a lookup value stored in a cell a range of cells containing a lookup table the number of the column within the lookup table that contains the value to return 18

The lookup value ─ value to look up in a reference table VLOOKUP (continued) The lookup value ─ value to look up in a reference table The lookup table ─ a range of cells containing the reference table A breakpoint ─ is the lowest numeric value for a category or series The column index number ─ the column number in the lookup table that contains return values 19

Allows you to consider several alternatives Financial Functions Used for decisions involving payments, investments, interest rates, etc. Allows you to consider several alternatives 20

Used to calculate loan payments Has three arguments: PMT Function Used to calculate loan payments Has three arguments: PMT(rate,nper,pv,fv,type) the interest rate per period the number of periods the amount of the loan Computes the associated payment on a loan 21

Used to determine the future value of an amount, such as an investment FV Function Used to determine the future value of an amount, such as an investment Has three arguments: FV(rate,nper,pmt,pv,type) The interest rate (also called the rate of return) The number of periods (how long you will pay into the investment) The periodic investment (how much you will invest per year) 22

Using the PMT Function to Determine a Monthly Loan payment 23

UNIT 5 Unit 6 Complete the Assigned Readings (Chapter 6) Complete the MyITLab Tutorial For MS Excel 2007 Participate in the Discussion Board (25 Points) Attend the Seminar or Complete the FLA Quiz (15 Points) Complete the Assignment (65 Points) 24