XP Copyright 2003 Peter McDevitt 1 Microsoft Excel 2002 Lecture 2 – Working With Formulas and Functions

Copyright 2003 Peter McDevitt2 Overview Functions Functions Fills Fills Cell References Cell References Logical Functions Logical Functions Date Functions Date Functions

Copyright 2003 Peter McDevitt3 Excel’s functions A function is a predefined, or built-in, formula for a commonly used calculation. A function is a predefined, or built-in, formula for a commonly used calculation. Each Excel function has a name and syntax. Each Excel function has a name and syntax. The syntax : specifies the order in which you must enter the different parts of the function The location in which you must insert commas, parentheses, and other punctuation. Arguments: are numbers, text, or cell references used by the function to calculate a value. Some arguments are optional

Copyright 2003 Peter McDevitt4 Insert Function Button Functions are organized into 10 categories: Functions are organized into 10 categories: Database, Date and Time, Engineering, Financial, Math and so on. Database, Date and Time, Engineering, Financial, Math and so on. You can use the Insert Function button on the Formula bar to select from a list of functions. You can use the Insert Function button on the Formula bar to select from a list of functions. A series of dialog boxes will assist you in filling in the arguments of the function. A series of dialog boxes will assist you in filling in the arguments of the function.

Copyright 2003 Peter McDevitt5 Functions The SUM function is a very commonly used math function in Excel. The SUM function is a very commonly used math function in Excel. Use Excel's SUM function to total the values in a range of cells like this: SUM(A1:A100). Use Excel's SUM function to total the values in a range of cells like this: SUM(A1:A100). You can also use functions within functions. Consider the expression: =ROUND(AVERAGE(A1:A100),1). You can also use functions within functions. Consider the expression: =ROUND(AVERAGE(A1:A100),1). This expression would first compute the average of all the values from cell A1 through A100 and then round that result to 1 digit to the right of the decimal point

Copyright 2003 Peter McDevitt6 The Insert Function Dialog box This dialog box appears when you click the Insert Function button. It can assist you in defining your function.

Copyright 2003 Peter McDevitt7 The Insert Function Dialog Box This figure depicts how you would enter argument values for the PMT function using the Insert Function dialog box.

Copyright 2003 Peter McDevitt8 Copy & Paste Effects on Cell References Copied formulas or functions that have cell references are adjusted for the target cell or range of cells. Copied formulas or functions that have cell references are adjusted for the target cell or range of cells. This may or may not be correct for your worksheet, depending upon what you are trying to do. This may or may not be correct for your worksheet, depending upon what you are trying to do. You can control this automatic adjusting of cell references through the use of relative and absolute references. You can control this automatic adjusting of cell references through the use of relative and absolute references.

Copyright 2003 Peter McDevitt9 Relative References A relative reference is a cell reference that shifts when you copy it to a new location on a worksheet. A relative reference is a cell reference that shifts when you copy it to a new location on a worksheet. A relative reference changes in relation to the change of location. A relative reference changes in relation to the change of location. If you copy a formula to a cell three rows down and five columns to the right a relative reference will change along with it. If you copy a formula to a cell three rows down and five columns to the right a relative reference will change along with it.

Copyright 2003 Peter McDevitt10 Absolute References An absolute reference is a cell reference that does not change when you copy the formula to a new location. An absolute reference is a cell reference that does not change when you copy the formula to a new location. To create an absolute reference, you preface the column and row designations with a dollar sign ($). To create an absolute reference, you preface the column and row designations with a dollar sign ($). For example, the absolute reference for B5 would be $B$5. For example, the absolute reference for B5 would be $B$5. This cell reference would stay the same no matter where you copied the formula. This cell reference would stay the same no matter where you copied the formula.

Copyright 2003 Peter McDevitt11 Mixed References A mixed reference combines both relative and absolute cell references. A mixed reference combines both relative and absolute cell references. You can effectively lock either the row or the column in a mixed reference. You can effectively lock either the row or the column in a mixed reference. For example, in the case of $B5, the row reference would shift, but the column reference would not For example, in the case of $B5, the row reference would shift, but the column reference would not In the case of B$5, the column reference would shift, but the row reference would not In the case of B$5, the column reference would shift, but the row reference would not You can switch between absolute, relative and mixed references in the formula easily in the edit mode or on the formula bar. You can switch between absolute, relative and mixed references in the formula easily in the edit mode or on the formula bar.

Copyright 2003 Peter McDevitt12 Auto Fill When you need to copy and paste a large number of rows or columns, you can Auto Fill using the fill handle. When you need to copy and paste a large number of rows or columns, you can Auto Fill using the fill handle. The fill handle is a small black square located in the lower-right corner of a selected cell or range. The fill handle is a small black square located in the lower-right corner of a selected cell or range. When you drag the fill handle, Excel automatically fills in the formulas and formats used in the selected cells. When you drag the fill handle, Excel automatically fills in the formulas and formats used in the selected cells. The same rules for relative, absolute, and mixed references apply for Auto Fill as for copy and paste. The same rules for relative, absolute, and mixed references apply for Auto Fill as for copy and paste.

Copyright 2003 Peter McDevitt13 An example of Auto Fill This figure shows the payment schedule completed for all 240 payments of the mortgage example. Note the Auto Fill Options button to the lower right of the fill handle. If you were to click the Auto Fill Options button, you would then see the menu shown below.

Copyright 2003 Peter McDevitt14 Logical Functions Excel supports several logical functions: AND, FALSE, IF, NOT, OR and TRUE. Excel supports several logical functions: AND, FALSE, IF, NOT, OR and TRUE. The IF function uses a logical test to determine whether an expression is true or false. It returns one value if true or another value if false. The IF function uses a logical test to determine whether an expression is true or false. It returns one value if true or another value if false. The logical test is constructed using a comparison operator. The logical test is constructed using a comparison operator. The comparison operators are =, >, >=, The comparison operators are =, >, >=,

Copyright 2003 Peter McDevitt15 Excel's Date Functions Excel stores dates as integers. Excel stores dates as integers. You typically do not see these numbers, because Excel automatically formats them to appear in a date format. You typically do not see these numbers, because Excel automatically formats them to appear in a date format. This method of storing dates allows you to work with dates the same way you work with numbers. This method of storing dates allows you to work with dates the same way you work with numbers. Excel's commonly used date functions are DATE, DAY, MONTH, NOW, TODAY, WEEKDAY and YEAR. Excel's commonly used date functions are DATE, DAY, MONTH, NOW, TODAY, WEEKDAY and YEAR.

Copyright 2003 Peter McDevitt16 Today and Now Functions The TODAY and NOW functions always display the current date and time. The TODAY and NOW functions always display the current date and time. You will not normally see the time portion unless you have formatted the cell to display it. You will not normally see the time portion unless you have formatted the cell to display it. If you use the TODAY or NOW function in a cell, the date in the cell is updated to reflect the current date and time of your computer each time you open the workbook. If you use the TODAY or NOW function in a cell, the date in the cell is updated to reflect the current date and time of your computer each time you open the workbook.

Copyright 2003 Peter McDevitt17 Commonly Used Date Functions Since dates are stored as integers, you can subtract one date from another to see how many days there are separating the two dates. The figure below provides additional details about the common date functions in Excel.

Copyright 2003 Peter McDevitt18 Use a formula to enter the date On the Documentation worksheet for the mortgage analysis workbook, there is a place for the date, as shown in the figure below. If you wanted a fixed date to remain in cell B4, you would enter that date. If you wanted the date in this cell to always reflect the current date and time when you opened the workbook, you would use the expression =NOW() or =TODAY() as shown in the formula bar in the figure.

Copyright 2003 Peter McDevitt19 Recap Functions Functions Fills Fills Cell References Cell References Logical Functions Logical Functions Date Functions Date Functions Thank You Thank You