Last Week: Excel 101 with Prof. Bliley: Workbooks, worksheets, rows, columns Cells: Text, Value, Formulas Formulas, Ranges OK? Survive Alive? Questions? Excel MyITLab is available, get on it!! Looking ahead: This week  Chapter 2 11/2, Next week  Chapter 3 11/9, Two weeks out  Excel Exam Copyright © 2008 Pearson Prentice Hall. All rights reserved. 1

Word Exam Most common mistakes: Date in footer not set to auto-update to system date Footers hand made, or otherwise creatively inserted Table style not chosen / incorrect Not justified alignment Grades Breakdown: 100%4 98%521 A’s 95%12 89%48 B’s 85%2 80% C’s 70%17 F’s (no shows) Copyright © 2008 Pearson Prentice Hall. All rights reserved. 2

Formulas and Functions Copyright © 2008 Pearson Prentice Hall. All rights reserved. 3 Excel 2007: Chapter 2

Class Objectives Copyright © 2008 Pearson Prentice Hall. All rights reserved. 4 Formulas Absolute, Relative, and Mixed Cell References Introduction to functions Finding functions Common Functions Statistical Functions

Formulas Formulas in Excel They always start with an equal sign (=) Example: Almost always contain some mathematical operators: - + / * ^ Order of operations is important! Should be the same as you recall from Math classes for the most part. Brackets, Exponents, Division, Multiplication, Addition, Subtraction (BEDMAS).

Simple Example

In Class Lab Copyright © 2008 Pearson Prentice Hall. All rights reserved. 7 What we’ll learn: How to create formulas How to copy formulas What relative, absolute, and mixed cell references are

Questions on Lab? Copyright © 2008 Pearson Prentice Hall. All rights reserved. 8 You should know: What a formula is What the fill handle is, what it looks like The difference between relative, absolute, and mixed references

The Fill Handle Copyright © 2008 Pearson Prentice Hall. All rights reserved. 9 When used it will copy the values/functions/formulas from one cell to another

Cell References Copyright © 2008 Pearson Prentice Hall. All rights reserved. 10 Relative – will change relative to where it’s copied/pasted A1 Absolute – will not change when copied/pasted around $A$1 Mixed A$1 $A1 The “$” (dollar sign) indicates to Excel that you’d like that portion of your cell reference to remain ABSOLUTE

Introduction to Functions What we’ll learn: What is a function? Methods of creating functions How to Find Functions Intro to Basic Statistical Functions

What is a function? “A pre-constructed formula that makes difficult computations less complicated” Functions take values as input, performs an operation, and outputs a value. Most used function? SUM: Adds up all numeric entries within a range of cells and displays the results. =A1+A2+A3+A4+A5  =SUM(A1:A5)

Finding Functions Guess how many functions are available? Categories of Functions Available: There is a way to search for functions, I will show you how in our lab! CubeDatabase Date and Time Engineering FinancialInformationalLogical Lookup / Reference Math and TrigStatisticalText

Basic Functions AVERAGE MIN MAX COUNT COUNTA MEDIAN NOW TODAY

Lightening Review =SUM(B2:B4) =COUNT(B1:B4) =AVERAGE(B2:B4) =MAX(D2:D4)

In Class Lab Copyright © 2008 Pearson Prentice Hall. All rights reserved. 16 What we’ll learn: Methods of creating functions Hand typed Point-to-Create Auto-sum Fill Handle How to find functions Intro into statistical functions

Questions on Functions? You should know: What a function is, how it’s different than a formula. How to find and use Excel’s built in functions. Understand how the AutoSum and Insert Formula tools work.

Using AutoSum (  ) Copyright © 2008 Pearson Prentice Hall. All rights reserved. 18 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 Copyright © 2008 Pearson Prentice Hall. All rights reserved. 19 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

Date Functions Copyright © 2008 Pearson Prentice Hall. All rights reserved. 20 TODAY function places the current date in the selected cell Updates when file is opened again NOW function displays current date and time, side by side Usage: =TODAY() =NOW()

Introduction Logical Functions A Special Breed of Functions… Return an answer when a particular condition is true. One of the most common, and easiest to understand is the “IF” function. Format: IF(logical_test, value_if_true, value_if_false) “If true output ‘value_if_true’, if false output ‘value_if_false’”

IF Function Format: =IF(logical_test, value_if_true, value_if_false) Example: =IF(B2=5,“5 Cats!”,“Not 5 Cats!”)

IF Function =IF(logical_test, value_if_true, value_if_false) Notes: value_if_true and value_if_false can contain text, a value, a formula, or a nested function. if you are comparing for text be sure to enclose it in quotes (“”)

Comparison Operators In order to use the IF statement we need to make a comparison. Comparison Operators available in Excel: =Equal <>Not Equal <Less Than >Greater Than <=Less Than OR Equal To >=Greater Than or Equal To

Lightening Review =IF(B1=“Cats”,25,10) =IF(C4<>2,”Yes”,”No”) =IF(A4=“Family 2”,2,0) =IF(MAX(D2:D4)>=30,”Abuse?”,”Safe!”)

VLOOKUP Copyright © 2008 Pearson Prentice Hall. All rights reserved. 26 Allows for lookup within a vertical table of information Well suited for large tables of data, such as tax tables Has three arguments: 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

VLOOKUP Example Copyright © 2008 Pearson Prentice Hall. All rights reserved. 27

VLOOKUP Example Copyright © 2008 Pearson Prentice Hall. All rights reserved. 28

Financial Functions Copyright © 2008 Pearson Prentice Hall. All rights reserved. 29 Used for decisions involving payments, investments, interest rates, etc. Common functions: PMT – used to calculate loan payments FV – used to calculate the “future value” of an investment

PMT Function Copyright © 2008 Pearson Prentice Hall. All rights reserved. 30 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(periodic rate, number of pay periods, amount of loan) =PMT(.09/12, 36, )

FV Function Copyright © 2008 Pearson Prentice Hall. All rights reserved. 31 Used to determine the future value of an amount, such as an investment Has three arguments: 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) =FV(periodic rate, number of pay periods, investiment) =FV(.10,36,-2000)

Copyright © 2008 Pearson Prentice Hall. All rights reserved. 32