Using Functions

A function is a pre-defined formula that helps perform common mathematical functions. Functions save you the time of writing lengthy formulas. You could use an Excel function called Average, for example, to quickly find the average of range of numbers. Or you could use the Sum function to find the sum of a cell range. Excel 2003 contains many different functions.

Each function has a specific order, called syntax, which must be strictly followed for the function to work correctly.

Syntax Order:

1. All functions begin with the = sign.
2. After the = sign define the function name (e.g., Sum).
3. One or more arguments-numbers, text or cell references-enclosed by parentheses. If there is more than one argument, separate each by a comma.

An example of a function with one argument that adds a range of cells, B3 through B10:

An example of a function with more than one argument that calculates the average of numbers in a range of cells, B3 through B10, and C3 through C10:

Excel literally has hundreds of different functions to assist with your calculations. Building formulas can be difficult and time-consuming. Excel's functions can save you a lot of time and headaches.

Excel's Different Functions

There are many different functions in Excel 2003. Some of the more common functions include:

Statistical Functions:

• SUM - summation adds a range of cells together.
• AVERAGE - average calculates the average of a range of cells.
• COUNT - counts the number of chosen data in a range of cells.
• MAX - identifies the largest number in a range of cells.
• MIN - identifies the smallest number in a range of cells.

Financial Functions:

• Interest Rates
• Loan Payments
• Depreciation Amounts

Date and Time functions:

• DATE - Converts a serial number to a day of the month
• Day of Week
• DAYS360 - Calculates the number of days between two dates based on a 360-day year
• TIME - Returns the serial number of a particular time
• HOUR - Converts a serial number to an hour
• MINUTE - Converts a serial number to a minute
• TODAY - Returns the serial number of today's date
• MONTH - Converts a serial number to a month
• YEAR - Converts a serial number to a year

You don't have to memorize the functions but should have an idea of what each can do for you.

Accessing Excel 2003 Functions

To Access Other Functions in Excel:

• Using the point-click-drag method, select a cell range to be included in the formula.
• On the Standard toolbar, click on the drop-down part of the AutoSum button.
• If you don't see the function you want to use (Sum, Average, Count, Max, Min), display additional functions by selecting More Functions.
  
  
• The Paste Function dialog box opens.
• There are three ways to locate a function in the Insert Function dialog box:

You can type a question in the Search for a function box and click GO, or

You can scroll through the alphabetical list of functions in the Select a function field, or

You can select a function category in the Select a category drop-down list and review the corresponding function names in the Select a function field.

• Select the function you want to use and then click the OK button.