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Questions and Answers
What does the AVERAGE function do in Excel?
What is the purpose of the DATEDIF function in Excel?
Which Excel function returns the count of the numbers in a given cell range?
What does the DAY function in Excel do?
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What does the YEAR function in Excel do?
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What is the purpose of the MEDIAN function in Excel?
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Which function in Excel finds the smallest value in a given cell range?
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'COUNT', 'MAX', and 'SUM' are examples of which type of Excel functions?
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'TODAY' and 'NOW' are examples of which type of Excel functions?
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What should you do if you were expecting a date but got a number?
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How does the IF function determine if a statement is TRUE or FALSE?
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What does the 'Range Lookup' argument indicate in the VLOOKUP function?
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In the PMT function, what does 'rate' represent?
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What happens if you omit the Range Lookup argument in VLOOKUP?
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What is the purpose of the 'future value' argument in the PMT function?
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What is used to compare values in a logical test within the IF function?
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When would you use absolute cell referencing in a table array for VLOOKUP?
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What does 'nper' represent in the PMT function?
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'Type' argument in the PMT function specifies what about the payments?
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Study Notes
Excel Functions
- The AVERAGE function calculates the average of a set of numbers in a cell range.
- The DATEDIF function calculates the difference between two dates in a specified interval (e.g., years, months, days).
Counting and Aggregation
- The COUNT function returns the count of numbers in a given cell range.
- The MAX function finds the largest value in a cell range.
- The SUM function calculates the total of a set of numbers in a cell range.
Date and Time Functions
- The DAY function returns the day of the month as a number (1-31).
- The YEAR function returns the year of a date as a four-digit number.
Statistical Functions
- The MEDIAN function returns the middle value in a dataset when it is arranged in order.
Logical Functions
- The IF function determines if a statement is TRUE or FALSE based on a logical test.
- The IF function uses logical operators (=, <, >, etc.) to compare values in a logical test.
Lookup and Reference Functions
- The VLOOKUP function looks up a value in a table and returns a value from a corresponding column.
- The 'Range Lookup' argument in the VLOOKUP function indicates whether to perform an exact match or an approximate match.
- If you omit the Range Lookup argument in VLOOKUP, it defaults to an approximate match.
Financial Functions
- The PMT function calculates the fixed monthly payment for a loan or investment.
- In the PMT function, 'rate' represents the interest rate.
- In the PMT function, 'nper' represents the number of payments.
- In the PMT function, 'type' specifies whether the payment is made at the beginning or end of the period.
- The 'future value' argument in the PMT function specifies the future value of the loan or investment.
Cell Referencing
- Absolute cell referencing is used to fix a cell reference in a formula, so it does not change when the formula is copied or moved.
- Absolute cell referencing is useful in table arrays for VLOOKUP.
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Description
Learn the basic Excel formulas with this cheat sheet. Understand the formula structure and how to use AVERAGE, COUNT, MAX, MEDIAN, MIN, and SUM functions for calculations in Excel.
