Microsoft Office Tutorials and References

In Depth Information

**Typing a Function**

◗

6.
Click the
OK button. The formula =AVERAGE(C32:N32) is entered in cell F14,

displaying the value 3,763. This represents the average expenses per month under

Diane’s budget. See Figure 3-14.

Figure 3-14

Average family income and expenses

AVERAGE function formula

returns the average of the

values in the range C32:N32

average monthly income

average monthly expenses

The average monthly expense, 3,763, is displayed to the nearest dollar amount. This

is because Diane has formatted the workbook to not display decimal values. The actual

value, 3,762.50, is stored in the cell although it is not displayed.

Typing a Function

After you become more familiar with functions, it is often faster to type the functions

directly in cells rather than using the Insert Function dialog box or the Function Library.

As you begin to type a function name within a formula, a list of functions that begin with

the letters you typed appears. For example, when you type
S, the list shows all of the

functions starting with the letter
S; when you type
SU, the list shows only those

functions starting with the letters
SU, and so forth. This helps to ensure that you’re entering a

legitimate Excel function name.

The income and expenses averages show that the couple will bring in about $500

more than they spend each month. That does not leave much money to deal with an

unexpected expense, so Diane wants to know how much variation is in the budget.

What is the most money she could expect to take home during a single month in the

upcoming year? What is the least? And what are the highest and lowest values for the

monthly expenses? You’ll use the MAX and MIN functions to calculate those values.

To calculate the minimum value for monthly income and expenses:

◗

1.
Click cell
F11
. This is the cell in which you want to enter the monthly income.

◗

2.
Type
. As you type a formula, a list with function names starting with
M
opens.
=M

◗

3.
Type
I. The list shows only those functions starting with
MI. See Figure 3-15. As

soon as the function you want appears in the list, you can double-click its name to

enter it in the cell without typing the rest of its name.