Excel ® Formulas & Functions

419 Pages·2022·12.8 MB·english

by  Ken Bluttman

®
Excel Formulas
& Functions
6th Edition
by Ken Bluttman
Excel® Formulas & Functions For Dummies®, 6th Edition
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Library of Congress Control Number: 2021948499
ISBN 978-1-119-83911-8 (pbk); ISBN 978-1-119-83912-5 (ebk); ISBN 978-1-119-83913-2 (ebk)
Contents at a Glance
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Excel® Formulas & Functions
Part 1: Getting Started with Excel Formulas
and Functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
CHAPTER 1: Tapping Into Formula and Function Fundamentals . . . . . . . . . . . . . . . . . .7
CHAPTER 2: Saving Time with Function Tools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
CHAPTER 3: Saying “Array!” for Formulas and Functions . . . . . . . . . . . . . . . . . . . . . . . . 55
CHAPTER 4: Fixing Formula Boo-Boos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Part 2: Doing the Math . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83
CHAPTER 5: Calculating Loan Payments and Interest Rates . . . . . . . . . . . . . . . . . . . . .85
CHAPTER 6: Appreciating What You’ll Get, Depreciating What You’ve Got . . . . . . . . 105
CHAPTER 7: Using Basic Math Functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
CHAPTER 8: Advancing Your Math . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139
Part 3: Solving with Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161
CHAPTER 9: Throwing Statistics a Curve . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163
CHAPTER 10: Using Significance Tests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203
CHAPTER 11: Rolling the Dice on Predictions and Probability . . . . . . . . . . . . . . . . . . . . 213
Part 4: Dancing with Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 231
CHAPTER 12: Dressing Up for Date Functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 233
CHAPTER 13: Keeping Well-Timed Functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251
CHAPTER 14: Using Lookup, Logical, and Reference Functions . . . . . . . . . . . . . . . . . . 261
CHAPTER 15: Digging Up the Facts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 297
CHAPTER 16: Writing Home about Text Functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 311
CHAPTER 17: Playing Records with Database Functions . . . . . . . . . . . . . . . . . . . . . . . . 337
Part 5: The Part of Tens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 353
CHAPTER 18: Ten Tips for Working with Formulas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 355
CHAPTER 19: Ten Ways to Get Fancy with Excel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 369
CHAPTER 20: Ten Really Cool Functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 375
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 383

Table of Contents
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
About This Book . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Foolish Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Icons Used in This Book . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Beyond the Book . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Where to Go from Here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
PART 1: GETTING STARTED WITH EXCEL FORMULAS
AND FUNCTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Tapping Into Formula and Function
CHAPTER 1:
Fundamentals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
Working with Excel Fundamentals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Understanding workbooks and worksheets . . . . . . . . . . . . . . . . . . . . 8
Introducing the Formulas tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Working with rows, columns, cells, ranges, and tables . . . . . . . . . . 13
Formatting your data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Getting help . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Gaining the Upper Hand on Formulas . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Entering your first formula . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Understanding references . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Copying formulas with the fill handle . . . . . . . . . . . . . . . . . . . . . . . . . 25
Assembling formulas the right way . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Using Functions in Formulas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Looking at what goes into a function . . . . . . . . . . . . . . . . . . . . . . . . . 30
Arguing with a function . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Nesting functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
CHAPTER 2: Saving Time with Function Tools . . . . . . . . . . . . . . . . . . . . . 39
Getting Familiar with the Insert Function Dialog Box . . . . . . . . . . . . . . .39
Finding the Correct Function . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Entering Functions Using the Insert Function Dialog Box . . . . . . . . . . . 42
Selecting a function that takes no arguments . . . . . . . . . . . . . . . . . . 43
Selecting a function that uses arguments . . . . . . . . . . . . . . . . . . . . . 44
Entering cells, ranges, named areas, and tables as
function arguments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
Getting help in the Insert Function dialog box . . . . . . . . . . . . . . . . . 50
Using the Function Arguments dialog box to edit functions . . . . . . 50
Directly Entering Formulas and Functions . . . . . . . . . . . . . . . . . . . . . . . . 51
Entering formulas and functions in the Formula Bar . . . . . . . . . . . . 51
Entering formulas and functions directly in worksheet cells . . . . . 52
Table of Contents v
CHAPTER 3: Saying “Array!” for Formulas and Functions . . . . . . . .55
Discovering Arrays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Using Arrays in Formulas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Working with Functions That Return Arrays . . . . . . . . . . . . . . . . . . . . . . 61
CHAPTER 4: Fixing Formula Boo-Boos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Catching Errors As You Enter Them . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Getting parentheses to match . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66
Avoiding circular references . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
Mending broken links . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
Using the Formula Error Checker . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72
Auditing Formulas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
Watching the Watch Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78
Evaluating and Checking Errors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79
Making an Error Behave the Way You Want . . . . . . . . . . . . . . . . . . . . . . 81
PART 2: DOING THE MATH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83
CHAPTER 5: Calculating Loan Payments and Interest Rates . . . . 85
Understanding How Excel Handles Money . . . . . . . . . . . . . . . . . . . . . . . 86
Going with the cash flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86
Formatting for currency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86
Choosing separators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88
Figuring Loan Calculations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Calculating the payment amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91
Calculating interest payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93
Calculating payments toward principal . . . . . . . . . . . . . . . . . . . . . . . 94
Calculating the number of payments . . . . . . . . . . . . . . . . . . . . . . . . . 96
Calculating the number of payments with PDURATION . . . . . . . . . 98
Calculating the interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99
Calculating the principal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .101
Appreciating What You’ll Get, Depreciating
CHAPTER 6:
What You’ve Got . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105
Looking into the Future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106
Depreciating the Finer Things in Life . . . . . . . . . . . . . . . . . . . . . . . . . . . 108
Calculating straight-line depreciation . . . . . . . . . . . . . . . . . . . . . . . . 110
Creating an accelerated depreciation schedule . . . . . . . . . . . . . . . 111
Creating an even faster accelerated depreciation schedule . . . . . 113
Calculating a midyear depreciation schedule . . . . . . . . . . . . . . . . .114
Measuring Your Internals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .116
vi Excel Formulas & Functions For Dummies
CHAPTER 7: Using Basic Math Functions . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Adding It All Together with the SUM Function . . . . . . . . . . . . . . . . . . . 121
Rounding Out Your Knowledge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126
Just plain old rounding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126
Rounding in one direction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128
Leaving All Decimals Behind with INT . . . . . . . . . . . . . . . . . . . . . . . . . . 133
Leaving Some Decimals Behind with TRUNC . . . . . . . . . . . . . . . . . . . . 134
Looking for a Sign . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135
Ignoring Signs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .137
CHAPTER 8: Advancing Your Math . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139
Using PI to Calculate Circumference and Diameter . . . . . . . . . . . . . . .140
Generating and Using Random Numbers . . . . . . . . . . . . . . . . . . . . . . . 141
The all-purpose RAND function . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141
Precise randomness with RANDBETWEEN . . . . . . . . . . . . . . . . . . . 143
Ordering Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145
Combining . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147
Raising Numbers to New Heights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .147
Multiplying Multiple Numbers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 149
Using What Remains with the MOD Function . . . . . . . . . . . . . . . . . . . . 150
Summing Things Up . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152
Using SUBTOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152
Using SUMPRODUCT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154
Using SUMIF and SUMIFS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156
Getting an Angle on Trigonometry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159
Three basic trigonometry functions . . . . . . . . . . . . . . . . . . . . . . . . .159
Degrees and radians . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .160
PART 3: SOLVING WITH STATISTICS . . . . . . . . . . . . . . . . . . . . . . . . . 161
CHAPTER 9: Throwing Statistics a Curve . . . . . . . . . . . . . . . . . . . . . . . . . . . 163
Getting Stuck in the Middle with AVERAGE, MEDIAN, and MODE . . . 164
Deviating from the Middle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169
Measuring variance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .170
Analyzing deviations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172
Looking for normal distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174
Skewing from the norm . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179
Comparing data sets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .181
Analyzing Data with Percentiles and Bins . . . . . . . . . . . . . . . . . . . . . . . 185
QUARTILE.INC and QUARTILE.EXC . . . . . . . . . . . . . . . . . . . . . . . . . . 186
PERCENTILE.INC and PERCENTILE.EXC . . . . . . . . . . . . . . . . . . . . . . . 187
RANK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 189
PERCENTRANK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .190
FREQUENCY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191
Table of Contents vii
MIN and MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195
LARGE and SMALL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 196
Going for the Count . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 198
COUNT and COUNTA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 198
COUNTIF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .198
CHAPTER 10: Using Significance Tests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203
Testing to the T . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204
Comparing Results with an Estimate . . . . . . . . . . . . . . . . . . . . . . . . . . . 208
CHAPTER 11: Rolling the Dice on Predictions and Probability . . . 213
Modeling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214
Linear model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214
Exponential model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214
Getting It Straight: Using SLOPE and INTERCEPT to
Describe Linear Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215
What’s Ahead: Using FORECAST, TREND, and GROWTH
to Make Predictions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 219
FORECAST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 219
TREND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 221
GROWTH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .223
Using NORM.DIST and POISSON.DIST to Determine
Probabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 225
NORM.DIST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .225
POISSON.DIST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 227
PART 4: DANCING WITH DATA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 231
CHAPTER 12: Dressing Up for Date Functions . . . . . . . . . . . . . . . . . . . . . . 233
Understanding How Excel Handles Dates . . . . . . . . . . . . . . . . . . . . . . . 233
Formatting Dates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 235
Making a Date with DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 236
Breaking a Date with DAY, MONTH, and YEAR . . . . . . . . . . . . . . . . . . . 238
Isolating the day . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 239
Isolating the month . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .240
Isolating the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 241
Converting a Date from Text . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 242
Finding Out What TODAY Is . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 243
Counting the days until your birthday . . . . . . . . . . . . . . . . . . . . . . . 244
Counting your age in days . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 244
Determining the Day of the Week . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 245
Working with Workdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 246
Determining workdays in a range of dates . . . . . . . . . . . . . . . . . . . 246
Workdays in the future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .248
Calculating Time Between Two Dates with the DATEDIF Function . . . 249
viii Excel Formulas & Functions For Dummies