Microsoft Office Tutorials and References

In Depth Information

**Using Functions in Formulas**

You do not have to use the Insert Function dialog box to enter functions into

cells. It is there for convenience. As you become familiar with certain

functions that you use repeatedly, you may find it faster to just type the function

directly into the cell.

Nesting functions

Nesting is something a bird does, isnâ€™t it? Well, a bird expert would know the

answer to that one, but we do know how to nest Excel functions. A
nested

function
is tucked inside another function, as one of its arguments. Nesting

functions let you return results you would have a hard time getting to

otherwise. (Nested functions are used in examples in various places in the topic.

The COUNTIF, AVERAGE, and MAX functions are discussed in Chapter 9.)

Figure 1-26 shows the daily closing price for the S&P 500, for the month of

September 2004. A possible analysis is to see how many times the closing

price was higher than the average for the month. Therefore, the average

needs to be calculated first, before you can compare any single price. By

embedding the AVERAGE function inside another function, the average is

first calculated.

When a function is nested inside another, the inner function is calculated first.

Then that result is used as an argument for the outer function.

Figure 1-26:

Nesting

functions.