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Formulas and Functions with Microsoft Office Excel 2007

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Formulas and Functions with Microsoft Office Excel 2007

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Description

  • Copyright 2007
  • Dimensions: 7" x 9-1/8"
  • Edition: 1st
  • Book
  • ISBN-10: 0-7897-3668-3
  • ISBN-13: 978-0-7897-3668-0

“If you’ve never quite grasped formulas and functions, Paul McFedries will radically expand your understanding and use of Excel. And if you’re already an expert and you’re moving up to Excel 2007, this book will quickly show you features you’ve only dreamed of until now...”

—Thomas ‘Duffbert’ Duff, Duffbert’s Random Musings, http://www.twduff.com

Develop your Microsoft Excel expertise instantly with proven techniques

  • Master Excel Ranges
  • Create Powerful Arrays
  • Troubleshoot Formula Problems
  • Validate Worksheet Data
  • Perform What-If Analysis
  • Model Your Business
  • Track Trends and Make
  • Forecasts
  • Analyze Data
  • Find Optimal Solutions
  • Build Dynamic Loan
  • Schedules 

Most Microsoft® Excel users learn only a small percentage of the program’s features. They know they could get more out of Excel if they could just get a leg up on building formulas and using functions. Unfortunately, this side of Excel appears complex and intimidating to the uninitiated—shrouded in the mysteries of mathematics, finance, and impenetrable spreadsheet jargon.

Sound familiar? If you’re a businessperson who needs to use Excel as an everyday part of your job, then you’ve come to the right book.  Formulas and Functions with Microsoft® Office Excel 2007 demystifies worksheet formulas and presents the most useful Excel functions in an accessible,  jargon-free way.  This book not only takes you through Excel’s intermediate and advanced formula-building features, it also tells you why these features are useful to you and shows you how to use them in everyday situations. Throughout the book you’ll find no-nonsense, step-by-step tutorials and lots of practical examples aimed directly at business users.

     •    Focuses like a laser on the four technologies that you must master to get the most out of Excel: ranges, formulas, functions, and data analysis tools.

     •    Shuns spreadsheet theory in favor of practical know-how that you can put to use right away.

     •    Provides numerous real-world examples and techniques to help you learn and understand the importance of each section.

 


Introduction

1    Getting the Most Out of Ranges

2    Using Range Names

3    Building Basic Formulas

4    Creating Advanced Formulas

5    Troubleshooting Formulas
II    Harnessing the Power of Functions   

6    Understanding Functions

7    Working with Text Functions

8    Working with Logical and Information Functions

9    Working with Lookup Functions

10  Working with Date and Time Functions
11  Working with Math Functions

12  Working with Statistical Functions

III    Building Business Models   

13  Analyzing Data with Tables

14  Analyzing Data with PivotTables

15  Using Excel’s Business-Modeling Tools

16  Using Regression to Track Trends and Make Forecasts

17  Solving Complex Problems with Solver

IV    Building Financial Formulas   

18   Building Loan Formulas

19   Building Investment Formulas

20   Building Discount Formulas


Paul McFedries is well-known as a teacher of Windows and Office, particularly Excel, and is the president of Logophilia Limited, a technical writing company. Paul has been working with spreadsheets for more than 20 years and has been developing Excel solutions since the late 1980s. Now primarily a writer, Paul has written more than 50 books that have sold more than three million copies worldwide. These books include Microsoft Office Access 2007 Forms, Reports, and Queries; Tricks of the Microsoft Office 2007 Gurus (all from Que); and Microsoft Windows Vista Unleashed (Sams).

Category  Office Productivity Suite

Covers    Microsoft Office Excel 2007

User Level         Intermediate - Advanced

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Example(s)

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Sample Content

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Building Basic Formulas in Excel 2007

Downloadable Sample Chapter

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Table of Contents

Introduction

    What’s in the Book

    This Book’s Special Features

    I    Mastering Excel Ranges and Formulas

1    Getting the Most Out of Ranges

    Advanced Range-Selection Techniques

        Mouse Range-Selection Tricks

        Keyboard Range-Selection Tricks

        Working with 3D Ranges

        Selecting a Range Using Go To

        Using the Go To Special Dialog Box

    Data Entry in a Range

    Filling a Range

    Using the Fill Handle

        Using AutoFill to Create Text and Numeric Series

        Creating a Custom AutoFill List

        Filling a Range

    Creating a Series

    Advanced Range Copying

        Copying Selected Cell Attributes

        Combining the Source and Destination Arithmetically

        Transposing Rows and Columns

    Clearing a Range

    Applying Conditional Formatting to a Range

        Creating Highlight Cells Rules

        Creating Top/Bottom Rules

        Adding Data Bars

        Adding Color Scales

        Adding Icon Sets

        From Here

2    Using Range Names

    Defining a Range Name

        Working with the Name Box

        Using the New Name Dialog Box

        Changing the Scope to Define Sheet-Level Names

        Using Worksheet Text to Define Names

        Naming Constants

    Working with Range Names

        Referring to a Range Name

        Working with Name AutoComplete

        Navigating Using Range Names

        Pasting a List of Range Names in a Worksheet

        Displaying the Name Manager

        Filtering Names

        Editing a Range Name’s Coordinates

        Adjusting Range Name Coordinates Automatically

        Changing a Range Name

        Deleting a Range Name

        Using Names with the Intersection Operator

        From Here

3    Building Basic Formulas

    Understanding Formula Basics

        Formula Limits in Excel 2007

        Entering and Editing Formulas

        Using Arithmetic Formulas

        Using Comparison Formulas

        Using Text Formulas

        Using Reference Formulas

    Understanding Operator Precedence

        The Order of Precedence

        Controlling the Order of Precedence

    Controlling Worksheet Calculation

    Copying and Moving Formulas

        Understanding Relative Reference Format

        Understanding Absolute Reference Format

        Copying a Formula Without Adjusting Relative References

    Displaying Worksheet Formulas

    Converting a Formula to a Value

    Working with Range Names in Formulas

        Pasting a Name into a Formula

        Applying Names to Formulas

        Naming Formulas

    Working with Links in Formulas

        Understanding External References

        Updating Links

        Changing the Link Source

    Formatting Numbers, Dates, and Times

        Numeric Display Formats

        Date and Time Display Formats

        Deleting Custom Formats

        From Here

4    Creating Advanced Formulas

    Working with Arrays

        Using Array Formulas

        Using Array Constants

        Functions That Use or Return Arrays

    Using Iteration and Circular References

    Consolidating Multisheet Data

        Consolidating by Position

        Consolidating by Category

    Applying Data-Validation Rules to Cells

    Using Dialog Box Controls on a Worksheet

        Using the Form Controls

        Adding a Control to a Worksheet

        Linking a Control to a Cell Value

        Understanding the Worksheet Controls

        From Here

5    Troubleshooting Formulas

    Understanding Excel’s Error Values

        #DIV/0!

        #N/A

        #NAME?

        Avoiding #NAME? Errors When Deleting Range Names

        #NULL!

        #NUM!

        #REF!

        #VALUE!

    Fixing Other Formula Errors

        Missing or Mismatched Parentheses

        Erroneous Formula Results

        Fixing Circular References

    Handling Formula Errors with IFERROR()

    Using the Formula Error Checker

        Choosing an Error Action

        Setting Error Checker Options

    Auditing a Worksheet

        Understanding Auditing

        Tracing Cell Precedents

        Tracing Cell Dependents

        Tracing Cell Errors

        Removing Tracer Arrows

        Evaluating Formulas

        Watching Cell Values

        From Here

    II    Harnessing the Power of Functions   

6    Understanding Functions

    About Excel’s Functions

    The Structure of a Function

    Typing a Function into a Formula

    Using the Insert Function Feature

    Loading the Analysis ToolPak

        From Here

7    Working with Text Functions

    Excel’s Text Functions

    Working with Characters and Codes

        The CHAR() Function

        The CODE() Function

    Converting Text

        The LOWER() Function

        The UPPER() Function

        The PROPER() Function

    Formatting Text

        The DOLLAR() Function

        The FIXED() Function

        The TEXT() Function

        Displaying When a Workbook Was Last Updated

    Manipulating Text

    Removing Unwanted Characters from a String

        The TRIM() Function

        The CLEAN() Function

        The REPT() Function: Repeating a Character

        Padding a Cell

        Building Text Charts

    Extracting a Substring

        The LEFT() Function

        The RIGHT() Function

        The MID() Function

        Converting Text to Sentence Case

        A Date-Conversion Formula

    Generating Account Numbers

    Searching for Substrings

        The FIND() and SEARCH() Functions

        Extracting a First Name or Last Name

        Extracting First Name, Last Name, and Middle Initial

        Determining the Column Letter

    Substituting One Substring for Another

        The REPLACE() Function

        The SUBSTITUTE() Function

        Removing a Character from a String

        Removing Two Different Characters from a String

        Removing Line Feeds

    Generating Account Numbers, Part 2

        From Here

8    Working with Logical and Information Functions

    Adding Intelligence with Logical Functions

        Using the IF() Function

        Performing Multiple Logical Tests

        Combining Logical Functions with Arrays

    Building an Accounts Receivable Aging Worksheet

        Calculating a Smarter Due Date

        Aging Overdue Invoices

    Getting Data with Information Functions

        The CELL() Function

        The ERROR.TYPE() Function

        The INFO() Function

        The IS Functions

        From Here

9    Working with Lookup Functions

    Understanding Lookup Tables

    The CHOOSE() Function

        Determining the Name of the Day of the Week

        Determining the Month of the Fiscal Year

        Calculating Weighted Questionnaire Results

        Integrating CHOOSE() and Worksheet Option Buttons

    Looking Up Values in Tables

        The VLOOKUP() Function

        The HLOOKUP() Function

        Returning a Customer Discount Rate with a Range Lookup

        Returning a Tax Rate with a Range Lookup

        Finding Exact Matches

        Advanced Lookup Operations

        From Here

10    Working with Date and Time Functions

    How Excel Deals with Dates and Times

        Entering Dates and Times

        Excel and Two-Digit Years

    Using Excel’s Date Functions

        Returning a Date

        Returning Parts of a Date

        Calculating the Difference Between Two Dates

    Using Excel’s Time Functions

        Returning a Time

        Returning Parts of a Time

        Calculating the Difference Between Two Times

    Building an Employee Time Sheet

        From Here

11    Working with Math Functions

    Understanding Excel’s Rounding Functions

        The ROUND() Function

        The MROUND() Function

        The ROUNDDOWN() and ROUNDUP() Functions

        The CEILING() and FLOOR() Functions

        Determining the Fiscal Quarter in Which a Date Falls

        Calculating Easter Dates

        The EVEN() and ODD() Functions

        The INT() and TRUNC() Functions

        Using Rounding to Prevent Calculation Errors

        Setting Price Points

    Rounding Billable Time

    Summing Values

        The SUM() Function

        Calculating Cumulative Totals

        Summing Only the Positive or Negative Values in a Range

    The MOD() Function

        A Better Formula for Time Differences

        Summing Every nth Row

        Determining Whether a Year Is a Leap Year

        Creating Ledger Shading

    Generating Random Numbers

        The RAND() Function

        The RANDBETWEEN() Function

        From Here

12    Working with Statistical Functions

    Understanding Descriptive Statistics

    Counting Items with the COUNT() Function

    Calculating Averages

        The AVERAGE() Function

        The MEDIAN() Function

        The MODE() Function

        Calculating the Weighted Mean

    Calculating Extreme Values

        The MAX() and MIN() Functions

        The LARGE() and SMALL() Functions

        Performing Calculations on the Top k Values

        Performing Calculations on the Bottom k Values

    Calculating Measures of Variation

        Calculating the Range

        Calculating the Variance with the VAR() Function

        Calculating the Standard Deviation with the STDEVP() and STDEV() Functions

    Working with Frequency Distributions

        The FREQUENCY() Function

        Understanding the Normal Distribution and the NORMDIST() Function

        The Shape of the Curve I: The SKEW() Function

        The Shape of the Curve II: The KURT() Function

    Using the Analysis ToolPak Statistical Tools

        Using the Descriptive Statistics Tool

        Determining the Correlation Between Data

        Working with Histograms

        Using the Random Number Generation Tool

        Working with Rank and Percentile

        From Here

    III    Building Business Models   

13    Analyzing Data with Tables

    Converting a Range to a Table

    Basic Table Operations

    Sorting a Table

        Sorting a Table in Natural Order

        Sorting on Part of a Field

        Sorting Without Articles

    Filtering Table Data

        Using Filter Lists to Filter a Table

        Using Complex Criteria to Filter a Table

        Entering Computed Criteria

        Copying Filtered Data to a Different Range

    Referencing Tables in Formulas

        Using Table Specifiers

        Entering Table Formulas

    Excel’s Table Functions

        About Table Functions

        Table Functions That Don’t Require a Criteria Range

        Table Functions That Accept Multiple Criteria

        Table Functions That Require a Criteria Range

        Applying Statistical Table Functions to a Defects Database

        From Here

14    Analyzing Data with PivotTables

    What Are PivotTables?

        How PivotTables Work

        Some PivotTable Terms

    Building PivotTables

        Building a PivotTable from a Table or Range

        Building a PivotTable from an External Database

        Working with and Customizing a PivotTable

    Working with PivotTable Subtotals

        Hiding PivotTable Grand Totals

        Hiding PivotTable Subtotals

        Customizing the Subtotal Calculation

    Changing the Data Field Summary Calculation

        Using a Difference Summary Calculation

        Using a Percentage Summary Calculation

        Using a Running Total Summary Calculation

        Using an Index Summary Calculation

    Creating Custom PivotTable Calculations

        Creating a Calculated Field

        Creating a Calculated Item

    Budgeting with Calculated Items

    Using PivotTable Results in a Worksheet Formula

        From Here

15    Using Excel’s Business-Modeling Tools

    Using What-If Analysis

        Setting Up a One-Input Data Table

        Adding More Formulas to the Input Table

        Setting Up a Two-Input Table

        Editing a Data Table

    Working with Goal Seek

        How Does Goal Seek Work?

        Running Goal Seek

        Optimizing Product Margin

        A Note About Goal Seek’s Approximations

        Performing a Break-Even Analysis

        Solving Algebraic Equations

    Working with Scenarios

        Understanding Scenarios

        Setting Up Your Worksheet for Scenarios

        Adding a Scenario

        Displaying a Scenario

        Editing a Scenario

        Merging Scenarios

        Generating a Summary Report

        Deleting a Scenario

        From Here

16    Using Regression to Track Trends and Make Forecasts

    Choosing a Regression Method

    Using Simple Regression on Linear Data

        Analyzing Trends Using Best-Fit Lines

        Making Forecasts

    Trend Analysis and Forecasting for a Seasonal Sales Model

    Using Simple Regression on Nonlinear Data

        Working with an Exponential Trend

        Working with a Logarithmic Trend

            Working with a Power Trend

        Using Polynomial Regression Analysis

    Using Multiple Regression Analysis

        From Here

17    Solving Complex Problems with Solver

    Some Background on Solver

        The Advantages of Solver

        When Do You Use Solver?

    Loading Solver

    Using Solver

    Adding Constraints

    Saving a Solution as a Scenario

    Setting Other Solver Options

        Controlling Solver

        Selecting the Method Solver Uses

        Working with Solver Models

    Making Sense of Solver’s Messages

    Solving the Transportation Problem

    Displaying Solver’s Reports

        The Answer Report

        The Sensitivity Report

        The Limits Report

        From Here

    IV    Building Financial Formulas   

18    Building Loan Formulas

    Understanding the Time Value of Money

    Calculating the Loan Payment

        Loan Payment Analysis

        Working with a Balloon Loan

        Calculating Interest Costs, Part I

        Calculating the Principal and Interest

        Calculating Interest Costs, Part 2

        Calculating Cumulative Principal and Interest

    Building a Loan Amortization Schedule

        Building a Fixed-Rate Amortization Schedule

        Building a Dynamic Amortization Schedule

    Calculating the Term of the Loan

    Calculating the Interest Rate Required for a Loan

    Calculating How Much You Can Borrow

    Working with Mortgages

        Building a Variable-Rate Mortgage Amortization Schedule

        Allowing for Mortgage Principal Paydowns

        From Here

19    Building Investment Formulas

    Working with Interest Rates

        Understanding Compound Interest

        Nominal Versus Effective Interest

        Converting Between the Nominal Rate and the Effective Rate

    Calculating the Future Value

        The Future Value of a Lump Sum

        The Future Value of a Series of Deposits

        The Future Value of a Lump Sum Plus Deposits

    Working Toward an Investment Goal

        Calculating the Required Interest Rate

        Calculating the Required Number of Periods

        Calculating the Required Regular Deposit

        Calculating the Required Initial Deposit

        Calculating the Future Value with Varying Interest Rates

    Building an Investment Schedule

        From Here

20    Building Discount Formulas

    Calculating the Present Value

        Taking Inflation into Account

        Calculating Present Value Using PV()

        Income Investing Versus Purchasing a Rental Property

        Buying Versus Leasing

    Discounting Cash Flows

        Calculating the Net Present Value

        Calculating Net Present Value Using NPV()

        Net Present Value with Varying Cash Flows

        Net Present Value with Nonperiodic Cash Flows

    Calculating the Payback Period

        Simple Undiscounted Payback Period

        Exact Undiscounted Payback Point

        Discounted Payback Period

    Calculating the Internal Rate of Return

        Using the IRR() Function

        Calculating the Internal Rate of Return for Nonperiodic Cash Flows

        Calculating Multiple Internal Rates of Return

    Publishing a Book

        From Here

0789736683, TOC, 2/19/2007

Index

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Introduction

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Updates

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