Excel Formulas & Functions

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3 Microsoft Excel Formulas & Functions 4th Edition

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5 Microsoft Excel Formulas & Functions 4th Edition by Ken Bluttman

6 Microsoft Excel Formulas & Functions For Dummies, 4th Edition Published by: John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ , Copyright 2016 by John Wiley & Sons, Inc., Hoboken, New Jersey Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the Publisher. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) , fax (201) , or online at Trademarks: Wiley, For Dummies, the Dummies Man logo, Dummies.com, Making Everything Easier, and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and may not be used without written permission. Excel is a registered trademark of Microsoft Corporation. All other trademarks are the property of their respective owners. John Wiley & Sons, Inc. is not associated with any product or vendor mentioned in this book. LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: THE PUBLISHER AND THE AUTHOR MAKE NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE ACCURACY OR COMPLETENESS OF THE CONTENTS OF THIS WORK AND SPECIFICALLY DISCLAIM ALL WARRANTIES, INCLUDING WITHOUT LIMITATION WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE. NO WARRANTY MAY BE CREATED OR EXTENDED BY SALES OR PROMOTIONAL MATERIALS. THE ADVICE AND STRATEGIES CONTAINED HEREIN MAY NOT BE SUITABLE FOR EVERY SITUATION. THIS WORK IS SOLD WITH THE UNDERSTANDING THAT THE PUBLISHER IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING, OR OTHER PROFESSIONAL SERVICES. IF PROFESSIONAL ASSISTANCE IS REQUIRED, THE SERVICES OF A COMPETENT PROFESSIONAL PERSON SHOULD BE SOUGHT. NEITHER THE PUBLISHER NOR THE AUTHOR SHALL BE LIABLE FOR DAMAGES ARISING HEREFROM. THE FACT THAT AN ORGANIZATION OR WEBSITE IS REFERRED TO IN THIS WORK AS A CITATION AND/OR A POTENTIAL SOURCE OF FURTHER INFORMATION DOES NOT MEAN THAT THE AUTHOR OR THE PUBLISHER ENDORSES THE INFORMATION THE ORGANIZATION OR WEBSITE MAY PROVIDE OR RECOMMENDATIONS IT MAY MAKE. FURTHER, READERS SHOULD BE AWARE THAT INTERNET WEBSITES LISTED IN THIS WORK MAY HAVE CHANGED OR DISAPPEARED BETWEEN WHEN THIS WORK WAS WRITTEN AND WHEN IT IS READ. For general information on our other products and services, please contact our Customer Care Department within the U.S. at , outside the U.S. at , or fax For technical support, please visit Wiley publishes in a variety of print and electronic formats and by print on demand. Some material included with standard print versions of this book may not be included in e books or in print on demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at For more information about Wiley products, visit Library of Congress Control Number: ISBN: (pbk); (ebk); (ebk) Manufactured in the United States of America

7 Contents at a Glance Introduction... 1 Part I: Getting Started with Formulas and Functions... 5 Chapter 1: Tapping Into Formula and Function Fundamentals...7 Chapter 2: Saving Time with Function Tools...37 Chapter 3: Saying Array! for Formulas and Functions...55 Chapter 4: Fixing Formula Boo-Boos...65 Part II: Doing the Math Chapter 5: Calculating Loan Payments and Interest Rates...85 Chapter 6: Appreciating What You ll Get, Depreciating What You ve Got Chapter 7: Using Basic Math Functions Chapter 8: Advancing Your Math Part III: Solving with Statistics Chapter 9: Throwing Statistics a Curve Chapter 10: Using Significance Tests Chapter 11: Rolling the Dice on Predictions and Probability Part IV: Dancing with Data Chapter 12: Dressing Up for Date Functions Chapter 13: Keeping Well-Timed Functions Chapter 14: Using Lookup, Logical, and Reference Functions Chapter 15: Digging Up the Facts Chapter 16: Writing Home about Text Functions Chapter 17: Playing Records with Database Functions Part V: The Part of Tens Chapter 18: Ten Tips for Working with Formulas Chapter 19: Ten Functions You Really Should Know Chapter 20: Some Really Cool Functions Index

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9 Table of Contents Introduction... 1 About This Book...1 Foolish Assumptions...2 How to Use This Book...2 Icons Used in This Book...2 Beyond the Book...3 Where to Go from Here...3 Part I: Getting Started with Formulas and Functions... 5 Chapter 1: Tapping Into Formula and Function Fundamentals... 7 Working with Excel Fundamentals...8 Understanding workbooks and worksheets...8 Introducing the Formulas Ribbon...11 Working with rows, column, cells, ranges, and tables...12 Formatting your data...17 Getting help...18 Gaining the Upper Hand on Formulas...18 Entering your first formula...19 Understanding references...21 Copying formulas with the fill handle...24 Assembling formulas the right way...25 Using Functions in Formulas...27 Looking at what goes into a function...29 Arguing with a function...29 Nesting functions...33 Chapter 2: Saving Time with Function Tools Getting Familiar with the Insert Function Dialog Box...37 Finding the Correct Function...39 Entering Functions Using the Insert Function Dialog Box...40 Selecting a function that takes no arguments...41 Selecting a function that uses arguments...43 Entering cells, ranges, named areas, and tables as function arguments...45 Getting help in the Insert Function dialog box...48 Using the Function Arguments dialog box to edit functions...49

10 viii Excel Formulas & Functions For Dummies, 4th Edition Directly Entering Formulas and Functions...50 Entering formulas and functions in the Formula Bar...50 Entering formulas and functions directly in worksheet cells...51 Chapter 3: Saying "Array!" for Formulas and Functions Discovering Arrays...55 Using Arrays in Formulas...57 Working with Functions That Return Arrays...60 Chapter 4: Fixing Formula Boo-Boos 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 II: Doing the Math Chapter 5: Calculating Loan Payments and Interest Rates 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...90 Calculating interest payments...92 Calculating payments toward principal...94 Calculating the number of payments...95 Calculating the number of payments with PDURATION...97 Calculating the interest rate...98 Calculating the principal Chapter 6: Appreciating What You ll Get, Depreciating What You ve Got Looking into the Future Depreciating the Finer Things in Life Calculating straight-line depreciation Creating an accelerated depreciation schedule Creating an even faster accelerated depreciation schedule Calculating a midyear depreciation schedule Measuring Your Internals...114

11 Table of Contents ix Chapter 7: Using Basic Math Functions Adding It All Together with the SUM Function Rounding Out Your Knowledge Just plain old rounding Rounding in one direction Leaving All Decimals Behind with INT Leaving Some Decimals Behind with TRUNC Looking for a Sign Ignoring Signs Chapter 8: Advancing Your Math Using PI to Calculate Circumference and Diameter Generating and Using Random Numbers The all-purpose RAND function Precise randomness with RANDBETWEEN Ordering Items Combining Raising Numbers to New Heights Multiplying Multiple Numbers Using What Remains with the MOD Function Summing Things Up Using SUBTOTAL Using SUMPRODUCT Using SUMIF and SUMIFS Getting an Angle on Trigonometry Three basic trigonometry functions Degrees and radians Part III: Solving with Statistics Chapter 9: Throwing Statistics a Curve Getting Stuck in the Middle with AVERAGE, MEDIAN, and MODE Deviating from the Middle Measuring variance Analyzing deviations Looking for normal distribution Skewing from the norm Comparing data sets Analyzing Data with Percentiles and Bins QUARTILE.INC and QUARTILE.EXC PERCENTILE.INC and PERCENTILE.EXC RANK PERCENTRANK...187

12 x Excel Formulas & Functions For Dummies, 4th Edition FREQUENCY MIN and MAX LARGE and SMALL Going for the Count COUNT COUNTIF Chapter 10: Using Significance Tests Testing to the T Comparing Results with an Estimate Chapter 11: Rolling the Dice on Predictions and Probability Modeling Linear model Exponential model Getting It Straight: Using SLOPE and INTERCEPT to Describe Linear Data What s in the Future: Using FORECAST, TREND, and GROWTH to Make Predictions FORECAST TREND GROWTH Using NORM.DIST and POISSON.DIST to Determine Probabilities NORM.DIST POISSON.DIST Part IV: Dancing with Data Chapter 12: Dressing Up for Date Functions Understanding How Excel Handles Dates Formatting Dates Making a Date with DATE Breaking a Date with DAY, MONTH, and YEAR Isolating the day Isolating the month Isolating the year Converting a Date from Text Finding Out What TODAY Is Counting the days until your birthday Counting your age in days Determining the Day of the Week Working with Workdays Determining workdays in a range of dates Workdays in the future Calculating Time between Two Dates with the DATEDIF Function...245

13 Table of Contents xi Chapter 13: Keeping Well-Timed Functions Understanding How Excel Handles Time Formatting Time Keeping TIME Converting Text to Time with TIMEVALUE Deconstructing Time with HOUR, MINUTE, and SECOND Isolating the hour Isolating the minute Isolating the second Finding the Time NOW Calculating Elapsed Time over Days Chapter 14: Using Lookup, Logical, and Reference Functions Testing on One Condition Choosing the Right Value Let s Be Logical NOT AND and OR XOR Finding Where It Is ADDRESS ROW, ROWS, COLUMN, and COLUMNS OFFSET Looking It Up HLOOKUP and VLOOKUP MATCH and INDEX FORMULATEXT NUMBERVALUE Chapter 15: Digging Up the Facts Getting Informed with the CELL Function Getting Information about Excel and Your Computer System Finding What IS and What IS Not ISERR, ISERROR, and ISNA ISBLANK, ISNONTEXT, ISTEXT, and ISNUMBER Getting to Know Your Type Chapter 16: Writing Home about Text Functions Breaking Apart Text Bearing to the LEFT Swinging to the RIGHT Staying in the MIDdle Finding the long of it with LEN...311

14 xii Excel Formulas & Functions For Dummies, 4th Edition Putting Text Together with CONCATENATE Changing Text Making money Turning numbers into text Repeating text Swapping text Giving text a trim Making a case Comparing, Finding, and Measuring Text Going for perfection with EXACT Finding and searching Chapter 17: Playing Records with Database Functions Putting Your Data into a Database Structure Working with Database Functions Establishing your database Establishing the criteria area Fine-Tuning Criteria with AND and OR Adding Only What Matters with DSUM Going for the Middle with DAVERAGE Counting Only What Matters with DCOUNT Finding Highest and Lowest with DMIN and DMAX Finding Duplicate Values with DGET Being Productive with DPRODUCT Part V: The Part of Tens Chapter 18: Ten Tips for Working with Formulas Master Operator Precedence Display Formulas Fix Formulas Use Absolute References Turn Calc On/Turn Calc Off Use Named Areas Use Formula Auditing Use Conditional Formatting Use Data Validation Create Your Own Functions Chapter 19: Ten Functions You Really Should Know SUM AVERAGE COUNT...362

15 Table of Contents xiii INT and ROUND INT ROUND IF NOW and TODAY HLOOKUP and VLOOKUP ISNUMBER MIN and MAX SUMIF and COUNTIF Chapter 20: Some Really Cool Functions Work with Hexadecimal, Octal, Decimal, and Binary Numbers Convert Units of Measurement Find the Greatest Common Divisor and the Least Common Multiple Easily Generate a Random Number Convert to Roman Numerals Factor in a Factorial Determine Part of a Year with YEARFRAC Find the Data TYPE Index