Microsoft Office Excel 2013 Expert Microsoft Office Excel 2013 Expert Courseware # 3254 Lesson 5: Pivot Charts and Advanced Formulas

Microsoft Office Excel 2013 Expert Lesson Objectives Create a pivot chart Change pivot chart options and styles Use financial functions Nest functions inside other functions Use AND, NOT, and OR functions Use conditional summary functions Insert, modify, and remove links to external workbooks Consolidate data from multiple workbooks © CCI Learning Solutions Inc. 2

Microsoft Office Excel 2013 Expert Creating a PivotChart Data in a PivotTable can be put into a PivotChart – Essentially a chart tied to PivotTable – Has PivotChart Filter Pane to control data series in chart Can be created from PivotTable, or directly from source data Changes made to PivotTable are immediately reflected in PivotChart – Changes to PivotChart affect PivotTable as well – This link enables analysis © CCI Learning Solutions Inc. 3

Microsoft Office Excel 2013 Expert Changing Pivot Chart Options Chart elements can be switched on or off using the Chart Elements button © CCI Learning Solutions Inc. 4

Microsoft Office Excel 2013 Expert Pivot Chart Styles Easily select from a list of available chart styles and colors © CCI Learning Solutions Inc. 5

Microsoft Office Excel 2013 Expert Financial Functions PMTCalculate the payment required for a given principal, interest rate, and number of time periods. NPVCalculate the Net Present Value of a stream of cash flows. PVCalculate the Present Value of an ordinary annuity or series of payments. FVCalculate the Future Value of an ordinary annuity or series of payments. © CCI Learning Solutions Inc. 6

Microsoft Office Excel 2013 Expert Nesting Functions Nesting is embedding a function inside another function Useful because Excel functions only perform one calculation Examples: =IF(A1=10,"text A",IF(A1=20,"text B","text C")) =MID(A1,FIND(" ",A1)+1,10) Extracts the second word (to a maximum of 10 characters) in which a space separates the first from second word © CCI Learning Solutions Inc. 7 If A1 containsThen this will display 10text A 20text B 30text C

Microsoft Office Excel 2013 Expert Using Conditional Logic Functions IF function performs one logic test, then executes one of two calculations If you need to perform two or more different logic tests – Must nest number of IF functions, or – Use AND or OR functions to combine them AND(logical test 1, logical test 2, ….) – returns TRUE only if all of the logical tests are TRUE, otherwise returns FALSE NOT(logical test) - reverses a logical result, TRUE becomes FALSE and vice versa OR(logical test 1, logical test 2, ….) – returns FALSE only if all of the logical tests are FALSE, otherwise returns TRUE © CCI Learning Solutions Inc. 8

Microsoft Office Excel 2013 Expert Using Conditional Summary Functions Conditional versions of AVERAGE, COUNT, and SUM Works more like filtering – For given range of cells, only rows that meet criteria are selected – Then summary function applied only on these rows – Remaining rows not meeting criteria are ignored – E.g. SUM will sum every cell in the range, SUMIF will sum only cells that meet the criteria The IF version only allows one criterion, the IFS allows multiple criteria Differences between two sets: – Criteria test is part of function or in worksheet – Sequence of arguments different from single criterion versions – Allows multiple selection criteria to be entered as arguments © CCI Learning Solutions Inc. 9

Microsoft Office Excel 2013 Expert Using Conditional Summary Functions DescriptionOne Criterion Multiple Criteria Calculate the average value of a range of cells in which the criterion value(s) is/are met. AVERAGEIFAVERAGEIFS Count the number of cells that contain a non- blank value in a range of cells where the criterion value(s) is/are met. COUNTIFCOUNTIFS Calculate the sum total of all cells containing a numeric value in a range of cells where the criterion value(s) is/are met. SUMIFSUMIFS © CCI Learning Solutions Inc. 10

Microsoft Office Excel 2013 Expert Opening a Workspace A workspace file will open an entire group of workbooks at the same time – Useful when you are frequently using the same group of workbooks – The workspace file contains the names of each workbook, its window size, and its position on the screen As of Excel 2013, you can no longer create and save workspaces, but you can still open workspaces created with earlier versions of Excel © CCI Learning Solutions Inc. 11

Microsoft Office Excel 2013 Expert Referencing Other Worksheets in Formulas Formulas can reference cells in a different worksheet in the same workbook General format: ‘ ’! – ! (exclamation) symbol (or “bang” symbol) indicates this cell is found in a different worksheet – Single quotes are needed if worksheet name contains blank spaces Can use the point-and-click method to enter the cell reference © CCI Learning Solutions Inc. 12

Microsoft Office Excel 2013 Expert Linking Other Workbooks Formulas can reference cells in other workbooks Creates tool for consolidating information where links can be automatically updated Links source and dependent worksheets – Worksheet with linking formula is dependent worksheet – Referenced worksheet is source – If data in source worksheet is changed, the dependent worksheet is automatically updated when it is opened. Moving source workbook can cause linking errors © CCI Learning Solutions Inc. 13

Microsoft Office Excel 2013 Expert Modifying Workbook Links When source workbook changes locations, dependent workbook link has to be changed To change link references: – change address reference directly in the cell, or – on Data tab, in Connections group, click Edit Links © CCI Learning Solutions Inc. 14

Microsoft Office Excel 2013 Expert Removing Workbook Links To keep data while breaking link, use Paste Special To break links, on Data tab, in Connections group, click Edit Links, select all source workbooks and click Break Link © CCI Learning Solutions Inc. 15

Microsoft Office Excel 2013 Expert Consolidating Data Summarize large amounts of data into single table Consolidate from different areas in a worksheet, separate worksheets, or other workbooks © CCI Learning Solutions Inc. 16

Microsoft Office Excel 2013 Expert Consolidating Data Consolidating by position method: – Source ranges must be same layout as destination range – Processes cell for cell of source range to destination range using selected function – Data in each source worksheets must all be in same positions Consolidating by labels method: – Uses column and row labels to match source to destination – Position of the cells does not matter – Labels must match exactly, but not case-sensitive © CCI Learning Solutions Inc. 17

Microsoft Office Excel 2013 Expert Consolidating Data Considerations: – Only numeric values are consolidated – Each consolidation area must be separate from other consolidation areas – Excel uses same numeric format in consolidated area as in first source area – Formulas are not consolidated – When consolidating different workbooks, click the Create links to source data check box to ensure dependent workbook is automatically updated – Can specify maximum of 255 source areas – When referencing other workbooks, workbooks do not need to be opened – Can use category or range names in source and destination © CCI Learning Solutions Inc. 18

Microsoft Office Excel 2013 Expert Lesson Summary Create a pivot chart Change pivot chart options and styles Use financial functions Nest functions inside other functions Use AND, NOT, and OR functions Use conditional summary functions Insert, modify, and remove links to external workbooks Consolidate data from multiple workbooks © CCI Learning Solutions Inc. 19

Microsoft Office Excel 2013 Expert Review Questions 1.You can create a pivot chart directly from the source data without creating a pivot table first. a.True.b.False. 2.Which of the following design or formatting changes can be made to a pivot chart? a.Change the chart background color. b.Remove the legend. c.Change the chart style. d.Add a chart title. e.Move the pivot chart to its own worksheet. f.All of the above. © CCI Learning Solutions Inc. 20

Microsoft Office Excel 2013 Expert Review Questions 3.Which of the following statements is incorrect about the PMT function? a.The function is accurate even for a loan with a term of 100 years. b.If the interest rate is 6% per year and the term of the loan is 60 months, then you must divide the 6% by 12. c.You can specify a remaining unpaid loan balance (for example, still owing $5,000) at the end of the term. d.The function can automatically adjust for inflation (that is, increases in the consumer price index). e.The principal amount must be entered as a negative value, in order to calculate the payment amount as a positive number. © CCI Learning Solutions Inc. 21

Microsoft Office Excel 2013 Expert Review Questions 4.If cell C5 contained the value 33, then the formula =IF(C5<10,"Red",IF(C5<20,"Green",IF(C5<30,"Blue",IF(C5<40,"Orange","Brown")))) will result as: a.Redd.Orange b.Greene. Brown c.Blue © CCI Learning Solutions Inc. 22

Microsoft Office Excel 2013 Expert Review Questions 5.Suppose you created a worksheet in which cell D2 can contain any value from 1 to 50. But if that cell contains a number greater than 40, then the value in cell E2 must not exceed 20 because that is an error situation. Which of the following formulas would you use to check for this error situation? a.=IF(D2>=40,"Error"," ") b.=IF(AND(D2>40,E2>20),"Error"," ") c.=IF(OR(D2>40,E2>20),"Error"," ") d.=IF(AND(E2>40,D2>20),"Error"," ") e.=IF(NOT(E2>20),"Error"," ") 6.How do conditional summary functions such as SUMIFS or AVERAGEIFS differ from SUM or AVERAGE? © CCI Learning Solutions Inc. 23

Microsoft Office Excel 2013 Expert Review Questions 7.Which of the following is the correct workbook link to obtain the value in cell B12 in Sheet1 of the January Sales workbook? a.='January Sales'!B12 b.='[Total Sales.xlsx]Sheet1'!B12 c.=[January Sales.xlsx]!B12 d.='[January Sales.xlsx]Sheet1'!B12 e.=[January Sales.xlsx]Sheet1!B12 f.='[January Sales]Sheet1'!G12 8.Describe what consolidating data means. © CCI Learning Solutions Inc. 24