Exploring Microsoft Office Excel 2010 by Robert Grauer, Keith Mulbery, and Mary Anne Poatsy. Chapter 7 Specialized Functions INSERT BOOK COVER

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1 INSERT BOOK COVER Exploring Microsoft Office Excel 2010 by Robert Grauer, Keith Mulbery, and Mary Anne Poatsy Chapter 7 Specialized Functions Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 1

2 Objectives Use conditional math and statistical functions Calculate relative standing with statistical functions Create a nested logical function Use MATCH and INDEX lookup functions Use advanced filtering Manipulate data with database functions Create a loan amortization table Perform other financial calculations Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 2

3 Use Conditional Math and Statistical Functions With Excel s math and statistical functions, you can: Perform conditional calculations Indicate relative standing When one condition must be met use: SUMIF AVERAGEIF COUNTIF The above functions require a: Range argument to specify the range of cells to evaluate Criteria argument that specifies the condition The SUMIF and AVERAGEIF functions also contain an optional argument to specify the range of values to sum or average Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 3

4 Use Conditional Math and Statistical Functions When more than one condition must be met use: SUMIFS AVERAGEIFS COUNTIFS COUNTIFS contains at lest four arguments (two ranges and their respective criteria) SUMIFS and AVERSGEIFS contain at least five arguments with the additional argument that specifies the range to sum or average being first Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 4

5 Use Conditional Math and Statistical Functions Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 5

6 Use Conditional Math and Statistical Functions To enter SUMIF and SUMIFS: On the Formulas tab, click Math & Trig in the Function Library group Select the desired function Enter the arguments in the Functions dialog box Click OK Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 6

7 Use Conditional Math and Statistical Functions To enter AVERAGEIF, AVERAGEIFS, COUNTIF, and COUNTIFS: On the Formulas tab, click More Functions in the Function Library group Point to Statistical and select the desired function Enter the arguments in the Functions dialog box Click OK Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 7

8 Calculate Relative Standing With Statistical Functions Excel contains four sets of statistical functions to indicate relative standing: RANK.EQ and RANK.AVG calculate ranking for individual values within a list PERCENTRANK.INC and PERCENTRANK.EXC calculate rank as a percentage for each value in a list QUARTILE.INC and QUARTILE.EXC identify the value at a specific quartile PERCENTILE.INC and PERCENTILE.EXC identify the k th percentile of a value Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 8

9 Calculate Relative Standing With Statistical Functions Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 9

10 Calculate Relative Standing With Statistical Functions Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 10

11 Calculate Relative Standing With Statistical Functions Analysis ToolPak an add-in that contains tools for performing complex statistical analyses such as: ANOVA Correlation F-tests To use one of the data-analysis tools from the add in: On the Data tab, click Data Analysis in the Analysis group Select the desired tool, and then click OK Enter the parameters, and then click OK Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 11

12 Create a Nested Logical Function A nested IF function one that contains one or more additional IF functions nested inside one or more arguments Excel permits up to 64 IF statements in one formula You can nest the AND, OR, or NOT logical functions The AND and OR functions allows you to test up to 255 conditions Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 12

13 Create a Nested Logical Function Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 13

14 Use MATCH and INDEX Lookup Functions The MATCH function identifies a search item s position in a list The INDEX function returns a value or reference to a value within a range Nest the MATCH function inside the INDEX function to identify a location and then return related data Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 14

15 Use MATCH and INDEX Lookup Functions Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 15

16 Use MATCH and INDEX Lookup Functions To nest functions in other functions: 1. Click Insert Function, select the outer function, and then click OK 2. Click in the argument box where the nested function is needed, click the Name Box arrow, and then select the desired function, and then click OK 3. Enter the arguments for the nested function; click in the outer function s name in the Formula Bar to display the Function Arguments dialog box for the outer function again 4. Continuing entering or nesting other arguments 5. When the entire function is complete, click OK Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 16

17 Use Advanced Filtering Use advanced filtering to keep the original dataset visible and extract a copy of data that meet certain criteria in another location: 1. Create a separate criteria range that contains column labels and lists the conditions 2. Create duplicate labels for an output range in an area that contains sufficient empty rows Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 17

18 Use Advanced Filtering To apply the advanced filter and copy the selected records to another area of the worksheet: 1. Click in a cell in the data table 2. On the Data tab, click Advanced in the Sort & Filter group 3. Click Copy to another location 4. Enter the criteria range, including the criteria labels, in the Criteria range box 5. Specify the Copy to range 6. Click OK Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 18

19 Use Advanced Filtering Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 19

20 Manipulate Data with Database Functions Database functions calculate aggregates for databases that have advanced filter(s) Some of the most common database functions: DSUM DAVERAGE DMIN DMAX DCOUNT Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 20

21 Manipulate Data with Database Functions Database functions have three arguments: 1. Database the entire table including column labels 2. Field indicates which column is used in the function a. Enter the column label in quotation marks or as a number that represents the position of the column in the table 3. Criteria the range of cells that contains the conditions you specify a. It includes at least one column label and at least one cell below the column label that specifies the condition Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 21

22 Manipulate Data with Database Functions To insert a database function: Click Insert function in the Function Library group Click the Or select a category arrow Select Database Click the desired function Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 22

23 Manipulate Data with Database Functions Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 23

24 Create a Loan Amortization Table A loan amortization table a schedule of monthly payments, interest per period, principal repayment per period, and balances Specialized financial functions include: IPMT PPMT CUMIPMT CUMPRINC Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 24

25 Create a Loan Amortization Table Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 25

26 Perform Other Financial Calculations Other financial functions: PV: calculates the present value of an investment FV: calculates the future value of an investment NPV: calculates the net present value of an investment with given cash flows and a discount rate NPER: calculates the number of payment periods for a loan or an investment RATE: calculates the periodic rate for an investment or loan Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 26

27 Perform Other Financial Calculations Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 27

28 Summary In this chapter, you learned numerous functions from the following categories: Math & Trig Logical, Lookup & Reference Statistical, Database, and Financial Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 28

29 Questions Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 29

30 Copyright All rights reserved. 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, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall. 30