1. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 1 Entering a Formula (continued) Formulas can include more than one operator. The mathematical rules used to calculating the value of a formula is called the order of operations. 1. Contents within parentheses are evaluated first. If there are multiple sets of parentheses, the innermost set of parentheses is evaluated first. 2. Mathematical operators are evaluated in the order of priority: Exponentiation, Positive or negative, Multiplication or division, Addition or subtraction. 3. If two or more operators have the same order of evaluation, the equation is evaluated from left to right.

2. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 2 Editing Formulas If you enter a formula with an incorrect structure, a dialog box appears, explaining the error and providing a possible correction. You can accept the correction or choose to correct the formula yourself. If you discover that you need to make a correction, you can edit the formula. Click the cell with the formula you want to edit. Press the F2 key or double-click the cell to enter editing mode.

3. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 3 Comparing Relative, Absolute, and Mixed Cell References Three types of cell references are used in formulas: relative, absolute, and mixed. A relative cell reference is a cell reference that adjusts to its new location when copied or moved. Absolute cell references is a cell reference that does not adjust to the new cell location when copied or moved. To create an absolute cell reference, you insert a dollar sign ($) before the column letter and before the row number. Mixed cell references is a cell reference that contains both relative and absolute references. When formulas with mixed cell references are copied or moved, the row or column references preceded by a dollar sign do not change.

4. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 4 What are Functions? A function is a prewritten formula that makes it easy to perform common calculations. For example, the SUM function adds values in a range of cells. A formula with a function has three parts: 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, cell reference, range or text that acts as an operand in a function formula. The argument follows the function name and is enclosed in parentheses. If a function contains more than one argument, commas separate the arguments.

5. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 5 Entering Formulas with Functions To enter a formula with a function, first, start the formula with an equal sign. Second, select the function you want to use. Third, enter the arguments. Finally, enter the completed formula. The results appear in the cell. 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. You 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.

6. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 6 Types of Functions Mathematical functions and trigonometric functions: These functions manipulate quantitative data in a worksheet. Some mathematical operations, such as addition, subtraction, multiplication, and division, do not require functions. Mathematical and trigonometric functions are particularly useful when you need to determine values such as logarithms, factorials, sines, cosines, tangents, and absolute values. – Sum Function adds all numbers in a range of cells. – AutoSum is a function that automatically adds the values in the cells directly above or to the left of the active cell.

7. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 7 Types of Functions (continued) Statistical functions: Statistical functions are used to describe large quantities of data. For example, statistical functions can determine the average, standard deviation, or variance of a range of data. Statistical functions can also determine the number of values in a range, the largest value in a, range, and the smallest value in a range. Examples are AVERAGE, MIN, and MAX. – Average function returns the average (arithmetic means) of its arguments. – Min function returns the smallest value in a set of values. – Max function returns the highest value in a set of values. – Count function returns the number of cells in a range that contains numbers.

8. Excel – Lesson 1 Types of Functions (continued) Financial functions: Financial functions are used to analyze loans and investments. The primary financial functions are future value, present value, and payment. – FV function find the future value of an investment based on equal number or payments, a fixed interest rate, and specified number of years. – PV function finds the present value of a loan or an investment based on equal payments, a fixed interest rate, and a specified number of payments – PMT function finds the amount of a monthly payment to repay a loan at a fixed interest rate, and a specified number of payments. Pasewark & PasewarkMicrosoft Office 2007: Introductory 8

9. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 9 Types of Functions (continued) Logical functions, such as the IF function, display text or values if certain conditions exist. In the IF function, the first argument sets a condition for comparison, called a logical test. The second argument determines the value that appears in the cell if the logical test is true. The third argument determines the value that appears in the cell if the logical test is false. – If function will display one value of the condition is true and another value if the condition is false.

10. Excel – Lesson 1 What If Analysis Process of changing values in cells to see how changes affect the outcome of formulas in the worksheet. Pasewark & PasewarkMicrosoft Office 2007: Introductory 10

11. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 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 and time. Text functions: Text functions are used to format and work with cell contents. A text function can be used to convert text in a cell to all uppercase or lowercase letters. Text functions can also be used to repeat data contained in another cell.

12. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 12 What is a Worksheet Chart? A chart/graph is a graphical representation of values and their relationships; pie, column, line, bar, scattered Charts make the data in a worksheet easier to understand by providing a visual picture of the data.

13. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 13 Comparing Chart Types You can create a variety of charts in Excel, each working with specific types of data. Column chart: Uses bars to illustrate values in a worksheet. Line chart: Shows points connected by a line, to illustrate values in a worksheet. Pie chart: Shows the relationship of a part to a whole. Each part is shown as a “slice” of the pie. Scatter chart (XY chart): Shows the relationship between two categories of data, one represented on the vertical axis, and the other on the horizontal axis. The points are not connected.

14. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 14 Creating Charts Selecting Chart Data: Chart data, called the data source, is stored in a range of cells in the worksheet. When you select the data source, include the text you want to use as labels. You can chart more than one series of data. A data series is a group of related information in a column or row of a worksheet that is plotted on the chart. Selecting a Chart Type: The next step is to select the type of chart you want to create, such as a column chart, a pie chart, or a line chart. Each type of chart has a variety of subtypes you can choose from. The chart types are available on the Insert tab in the Charts group.

15. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 15 Creating Charts (continued) Choosing the Chart Location: After you select a chart type and style, the chart is inserted as an embedded chart in the center of the worksheet. You can also choose to move the chart to a chart sheet, which is a separate sheet in the workbook that stores a chart.

16. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 16 Updating the Data Source Charts are closely related to their underlying data stored in a worksheet. If you need to change the data in the worksheet, the chart is automatically updated to reflect the new data. You switch between a chart sheet and a worksheet by clicking the appropriate sheet tab.

17. Excel – Lesson 1 Pasewark & PasewarkMicrosoft Office 2007: Introductory 17 Designing a Chart Charts are made up of different parts, or elements.

18. Excel – Lesson 1 Chart Elements ElementDescription AxesLines that establish a relationship between data in a chart; most charts have a horizontal axis and vertical axis TitlesDescriptive labels that identify the contents of the chart and the axes. LegendA list that identifies patterns, symbols, or colors used in a chart. Data SeriesRelated information in a column or row that is plotted on a chart Data labelText or numbers that provide additional information about the data series Data MarkerA symbol (such as bar, line, dot, or slice) that represents a single data point or value from the worksheet 18