Formulas: Comprehensive Examples [12]
Topics: Formula Elements, Formula Types and Cell References, Assumption Tables/Formula Elements, and Scenario Manager
Download Excel File (contains notes, class projects, video projects, homework, and homework solutions):
Busn214-Week02.xlsx
Busn214-Week02-SecondWorkbookWithTableTricks.xlsx
Topics in this video:
Overview: (00:39 min)
1. Hours worked formula. Type of Formula: Calculating. Formula Elements: Equal sign, parenthesis, cell reference, math operator, cell reference, parenthesis, math operator, number that does not change. (03:31 min)
2. Gross pay formula. Type of Formula: Calculating. Formula Elements: Equal sign, cell reference, math operator, cell reference. (5:13 min)
3. Number of sales each sales rep made formula. Type of Formula: Calculating. Formula Elements: Equal sign, function, absolute range of cells, relative cell reference. (05:38 min)
4. Text extracting formula. Type of Formula: Text Formula. Formula Elements: Equal sign, RIGHT function, relative cell reference, number that does not change. (07:31 min)
5. Text join formula. Type of Formula: Text Formula. Formula Elements: Equal sign, relative cell reference, join symbol, ampersand ( & ), relative cell reference. (09:05 min)
6. Over Hurdle formula. Type of Formula: Logical Formula. Formula Elements: Equal sign, relative cell reference, comparative operator, absolute cell reference. (10:03 min)
7. IF function to show “over” or “under” text formula. Text Formula that contains the formula elements: equal sign, IF function, relative cell reference, comparative operator, absolute cell reference, “text”. (11:19 min)
8. VLOOKUP to retrieve employee record formula. Type of Formula: Lookup Formula. Formula Elements: Equal sign, VLOOKUP function, absolute cell reference, absolute range of cells, function argument element. and Drop-down arrow: Data Ribbon, Data Validation, List. (13:50min)
9. Robust Net Income Formula. Type of Formula: Calculating. Formula Elements: Equal sign, cell reference, math operator, built-in function, range of cells. (17:54 min)
10. Add Top 3 Sales Formula. Type of Formula: Array Formula. Formula Elements: Equal sign, SUM function, LARGE function, range of cells, array constant. (20:51 min)
11. Add with 2 criteria (conditions) formula. Type of Formula: Calculating formula. Formula Elements: Equal sign, SUMIFS function (add with 2 criteria), range of cells, cell reference. (26:02 min)
12. Count with 2 criteria formula (count numbers between a lower and upper limit) formula. Type of Formula: Calculating formula. Formula Elements: Equal sign, COUNTIFS function (count with 2 criteria), absolute range of cells, relative cell reference. (29:05 min)
Types of formulas:
1. Calculating Formulas that calculate a number answer (like adding)
2. Logical Formulas that give you a logical value, either TRUE or FALSE (like formulas that say whether two accounts are in balance)
3. Text Formulas that deliver a word to a cell or create labels for reports (like a label for a loan payment).
4. Lookup Formulas that look up an item in a table (like looking up a price for a product).
5. Array Formulas are advanced formulas that contain a formula element that operate on arrays instead of individual items and produce an array of answers.
Formula elements:
1. Equal sign (starts all formulas).
2. Cell references (also defined names, sheet references, workbook references, table nomenclature).
3. Math operators.
4. Numbers (if the number will not change; for example, 12 months, 24 hours).
5. Functions (IF, MATCH, INDEX, COUNTIF, and so on).
6. Function argument elements (such as a 0 in the third argument of MATCH to tell function to do an “Exact Match” lookup,or FALSE in the 4th argument of VLOOKUP to do an “Extact Match” lookup).
7. Comparative operators.
8. Join operator: Ampersand (join symbol: &).
9. Text within quotation marks (for example, “For the Month Ended”).
10. Array constants (for example, {1,2,3}).