1. Excel Lesson 5
Using Functions
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Introductory
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2. Objectives
 Identify the parts of a function.
 Enter formulas with functions.
 Use functions to solve mathematical
Excel – Lesson 5
problems.
 Use functions to solve statistical problems.
 Use functions to solve financial problems.
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3. Objectives (continued)
 Use logical functions to make decisions with
worksheet data.
 Use functions to insert times and dates in a
worksheet.
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 Use text functions to format and work with
cell contents.
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4. Vocabulary
 Argument  Logical functions
 Date and time  Mathematical
functions functions
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 Financial functions  Statistical functions
 Formula  Text functions
AutoComplete  Trigonometric
 Function functions
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5. What are Functions?
 A shorthand way to write an equation that performs a
calculation.
– For example, the SUM function adds values in a range of cells.
 A formula with a function has three parts
Excel – Lesson 5
– an equal sign, a function name, and at least one argument.
 The equal sign identifies the cell contents as a
formula. The function name identifies the operation to
be performed.
 The argument is the value the function uses to
perform a calculation, including a number, text, or a
cell reference that acts as an operand.
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6. Entering Formulas with Functions
 The best way to select a function is from the
Insert Function dialog box.
– Click the Insert Function button on the Formula Bar
to open the Insert Function dialog box.
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 Can also enter a formula with a function directly in a
cell by typing an equal sign, the function name, and
the argument.
 Formula AutoComplete helps you enter a formula
with a valid function name and arguments.
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7. Types of Functions
 Mathematical functions and trigonometric functions:
These functions manipulate quantitative data in a
worksheet.
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8. Types of Functions (continued)
 Statistical functions: Statistical functions are used to
describe large quantities of data.
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9. Financial functions
 Financial functions are used to analyze loans
and investments. The primary financial functions
are future value, present value, and payment.
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10. Types of Functions (continued)
 Logical functions, such as the IF function, display
text or values if certain conditions exist.
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11. Types of Functions (continued)
 Date and Time functions: Functions can be used to
insert dates and times. For example, date and time
functions can be used to convert serial numbers to a
month, a day, or a year. A date function can also be
used to insert the current date or the current date
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and time.
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12. Text functions
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13. Summary
 A function is a shorthand way to write an equation that performs a
calculation. A formula with a function has three parts: an equal
sign, a function name, and at least one argument, which acts as
an operand.
 The best way to select a function is from the Insert Function dialog
box. The Function Arguments dialog box provides a description of
Excel – Lesson 5
each argument you enter for the function.
 When you type a formula with a function directly in a worksheet
cell, Formula AutoComplete helps you enter a formula with a valid
function name and arguments.
 Functions can be used to perform mathematical, statistical,
financial, and logical operations. They can also be used to insert
and calculate dates and times and to format text.
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