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.
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.