Mastering Excel Essentials

to Enhance Business Value

MODULE I
READING MATERIALS

Instructor: Elizabeth Durango-Cohen

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Terminology and Shortcuts– Module 1: Lesson 1

Workbook: A spreadsheet program file that you create in Excel. A workbook contains
worksheets of rows and columns in which you can enter and calculate data.

Worksheet: The primary document that you use in Excel to store and work with data. Also
called a spreadsheet. A worksheet consists of cells that are organized into columns and rows; a
worksheet is always stored in a workbook.

Cell: A box formed by the intersection of a row and column in a worksheet or a table, in which
you enter information.

Cell reference or address: The set of coordinates that a cell occupies on a worksheet. For
example, the reference of the cell that appears at the intersection of column B and row 3 is B3.

Active cell: The selected cell in which data is entered when you begin typing. Only one cell is
active at a time. The active cell is bounded by a heavy border.

Active sheet: The sheet that you're working on in a workbook. The name on the tab of the
active sheet is bold.

Name box: Box at left end of the formula bar that identifies the selected cell, chart item, or
drawing object. To name a cell or range, type the name in the Name box and press ENTER. To
move to and select a named cell, click its name in the Name box.

Range: Two or more cells on a sheet. The cells in a range can be adjacent or nonadjacent.

Fill handle: The small black square in the lower-right corner of the selection. When you point to
the fill handle, the pointer changes to a black cross.

Format Painter: is used to quickly apply the same formatting, such as color, font style and size, or
border style, to multiple pieces of text or graphics. The format painter is located under the Home tab in
the Clipboard group. To use the format painter, click on the cell you want to copy the format from, then
drag to select the cell or range you want to apply the formatting to. Release the mouse button and the
formatting should then be applied.

Excel Ribbon
The Excel Ribbon is Excel’s commands’ user interface. It encompasses the row of tabs at the top
of the Excel interface that helps users to navigate and locate the commands when using Excel.
The Excel ribbon contains the following tabs, from left to right:

• File – allows you to jump into the backstage view that contains the essential file-related
commands and Excel options. Most common features: Save, Open, and Print

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• Home – contains the most frequently used commands such as copying and pasting,
sorting and filtering, formatting, etc.
• Insert – is used to insert as images, charts, PivotTables, hyperlinks, special symbols,
equations, headers and footers into a spreadsheet
• Page Layout – provides tools to manage the worksheet appearance, both onscreen and
printed. These tools control theme settings, gridlines, page margins, object aligning, and
print area.
• Formulas – contains tools for inserting functions, defining names and controlling the
calculation options.
• Data – holds the commands for managing the worksheet data as well as connecting to
external data.
• Review – allows you to check spelling, track changes, add comments and notes, protect
worksheets and workbooks.
• View – provides commands for switching between worksheet views, freezing panes,
viewing and arranging multiple windows. Most common feature: Add and Remove
gridlines
• Help – only appears in Excel 2019 and Office 365. This tab provides quick access to the
Help Task Pane and allows you to contact Microsoft support, send feedback, suggest a
feature, and get quick access to training videos.
• Developer –This tab is hidden by default and you have to enable it first. For advanced
users who want to create macros with VBA

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Excel Navigation Shortcuts

Shortcut Key (PC) MAC (if different) Action
Arrow keys – ➔ Move Up, down, right, left one cell
PgUp / PgDown Fn-down arrow / Fn-up arrow up one screen / down one screen

CTRL + Page Down Option-right arrow Move to the next worksheet

CTRL + Page Up Option-Left arrow Move to the previous worksheet
CTRL + Tab Switch between Excel Workbooks
CTRL +  Move to the (top, bottom, right, left) of the data region

CTRL + Shift +  Move to the bottom of the data region and
highlight the range in between
CTRL + A ⌘-A Select data in current region
Home Home or Fn-left arrow Move to the first cell in the same row
CTRL + Home Control-Fn-Left arrow Move to cell A1
CTRL + End Control-Fn-right arrow Move to the last used cell on the worksheet
CTRL + Backspace Show active cell
Tab right arrow Move one cell to the right
Shift + Tab left arrow Move one cell to the left
Enter Move one cell down
Shift + Enter Move one cell up
F2 ⌘ -F2 Edit a cell’s content (same as double clicking on the cell)

F2 Key + Home Go to start of a cell line in edit mode

Alt + Enter Inside the formula bar to

create a new line
CTRL + N ⌘-N Open a new workbook
CTRL + O ⌘-O Open a workbook (Open menu)
CTRL + S ⌘-S Save a workbook
CTRL + W ⌘-W Close a workbook
Shift + F11 Insert a new worksheet
CTRL + Shift + Plus Sign Insert a new cell/row/column
CTRL Minus Sign Delete a cell/row/column
Shift + Space Select the row
CTRL + Space Select the column

CTRL + B ⌘-B Bold

CTRL + 1 ⌘-1 Format cells dialog box
F4 Repeat last edit

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Other Navigation Shortcuts

Press…. To…
Ctrl + Mouse Wheel
Zoom in or out on cells by pressing Ctrl key and rolling mouse
wheel up or down

Reset the cell value when editing the cell, or leave Backstage
Esc
view when on File tab
Shift + arrow key select adjoining cell(s) from active cell(s), one row/column at
a time (repeat as needed)
Shift + PgUp / PgDown extend current selection up/down one page

Ctrl + Shift + Home extend selection from active cell to beginning of data
(Mac: Control-Shift-Fn-left arrow)

Ctrl + Shift + End extend selection from active cell to end of data
(Mac: ⌘-Shift-Fn-right arrow)
Move Worksheet Click worksheet tab and drag it to move it to another location
in the workbook
Copy Worksheet Hold Ctrl Key, click worksheet tab and drag it to copy it

Move worksheet to Right-click on worksheet tab, select Move or Copy, then select
another workbook destination Workbook
Hide a Worksheet Right-click on worksheet tab, select Hide

Unhide a Worksheet Right-click on worksheet tab, select Unhide

Ctrl + Z (⌘-Z) Undo previous action

Ctrl + Y (⌘-Y) Redo previous action

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Entering Basic Formulas in Excel:

 Start by selecting the cell where you want the result of the formula to appear.
 Begin the formula with an equal sign (=). This tells Excel that you are entering a formula.
 Choose the appropriate function or mathematical operator to perform the desired
calculation.
 After selecting the function or operator, specify the cell range or values that you want to
include in the calculation. You can do this by manually typing the cell references or by
selecting the cells with your mouse.
 Use mathematical operators such as addition (+), subtraction (-), multiplication (*), and
division (/) to combine values or perform arithmetic calculations within the formula.
 Close the formula by pressing Enter. The result of the formula will be displayed in the
selected cell.

Order of Operations
Be mindful of the order of operations in complex formulas. Excel follows the standard
mathematical rules (PEMDAS/BODMAS) to evaluate formulas, where Parentheses, Exponents,
Multiplication and Division, and Addition and Subtraction are performed in a specific order.
You can also utilize the AutoSum feature to quickly insert common formulas like SUM,
AVERAGE, COUNT, etc. It can be found in the Editing group on the Home tab.

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Terminology and Shortcuts– Module 1: Lesson 2

Press…. To…
Opens the Format Cells dialogue box and choose to format your
Ctrl + 1 (⌘-1)
Numbers, Dates, Alignment, etc.
Ctrl + C (⌘-C) Copy cell value
Ctrl + V (⌘-V) Paste cell value
Ctrl + Alt + V Launch Paste Special Dialog Box
(⌘-Option-V or Control-
Option-V)

Ctrl + ; Timestamp current/system date

(Control + ;)

Ctrl + Shift + ; Timestamp with current/system time

(⌘-;)

Ctrl + # Change date format to D-MMM-YY

Ctrl + E Apply Flash Fill

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Auto Fill Functionality

Use the Auto Fill feature to fill cells with data that follows a pattern or are based on data in
other cells. To fill series:
1. Type in either the first element (e.g. January or any month) or the first two or three
elements (e.g. 1, 2) of a series.
2. Select the cell(s) you just typed in.
3. Move the cursor over the little block in the lower right corner of the active cell, and the
cursor changes to a hairline plus sign (+).
4. Click and hold on the fill handle and drag to the right (or down) to fill in the series. Note
that Excel can only extend series by adding to the sequence (that is, the next month,
adding the same number, etc.), not other math operations.

Auto Fill can also be used to fill cells with formatting, such as colors or patterns. To do this,
select the cell(s) with the desired formatting, and then drag the fill handle over the range of
cells where you want to apply the formatting.
Auto Fill can also be used with formulas. Excel will automatically adjust the formula for the row
it is on. Caution: It’s important to check that the appropriate cell referencing is used (see
Module 1, lesson 3).

Dates in Excel
Excel stores dates as serial numbers, with each date assigned a unique numeric value.

• The underlying numeric value represents the number of days since the base date, which is
January 1, 1900 (for Windows version of Excel). The base date is represented by the serial
number 1.
• Each whole number represents a specific date, with decimal values representing the time
portion of the date. For example, the serial number 45108 corresponds to the date July 1,

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2023. The time portion is stored as a decimal fraction of a day, where 0 represents
midnight and 1 represents the end of the day.

Excel provides various date and time formatting options to display dates in different formats,
such as short date, long date, or custom formats.
Custom Date Formats:
If one enters the date: 3/14/2024 in a cell, we can change the date formatting under custom formatting,
using the following conventions:

Month Day Year

m→3 d → 24 yy→ 24
dd→ 24 yyyy→ 2024
mm → 03 ddd→ Sun
mmm →Mar dddd→ Sunday

mmmm → March

To do so, use the shortcut key Ctrl + 1, or right click on the cell and select Format Cells… then click on
Custom, and apply the desired format under Type

Date Functions

Excel provides various date functions that allow you to perform calculations, manipulations,
and formatting with dates and times. Here are some commonly used Excel date functions along
with examples:
Date Function Description
TODAY() Returns the current date.

NOW() Returns the current date and time.

YEAR(date) Returns the year from a given date.

=YEAR("06/15/2023") returns 2023.
MONTH(date) Returns the month from a given date.
=MONTH("06/15/2023") returns 6.

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DAY(date) Returns the day from a given date.
=DAY("06/15/2023") returns 15.

DATE(year, month, day) Returns a date based on the specified year, month, and day.
=DATE(2023, 6, 15) returns the date 06/15/2023.
WEEKDAY(date, [return_type]) Returns the day of the week from a given date.
=WEEKDAY("06/15/2023") returns 4 (assuming Sunday is first week
day)
EOMONTH(start_date, months): Returns the last day of the month a specified number of months
before or after a given date.
=EOMONTH("06/15/2023", -1) returns 05/15/2023
=EOMONTH("06/15/2023", 2) returns 08/15/2023
NETWORKDAYS(start_date, Calculates the number of working days between two dates,
end_date, [holidays]) excluding weekends and specified holidays.
=NETWORKDAYS("06/15/2023", "06/30/2023") returns 12

These are just a few examples of Excel date functions. Excel offers many more functions to
handle various date and time operations.

Custom Lists in Excel

In Excel, there are several built-in custom lists that are predefined and can be accessed when
using certain features or functions in Excel. Here are some of the common built-in custom lists:

• Days of the week: Excel includes a custom list for the days of the week (Monday,
Tuesday, Wednesday, etc.), which can be used when filling a series.
• Months: Excel has a custom list for the months of the year (January, February, March,
etc.). One can also use the month abbreviations (Jan, Feb, Mar, etc.)
• Quarters: Use Q1, Q2, Q3, Q4.

Using the custom list:

• To populate a column with the custom list, enter the first value of the list in a cell.
• Select the cell, move the mouse cursor over the fill handle, and drag it down to fill the
desired range.
• Excel will automatically populate the cells with the values from your custom list.

You can also create user-defined custom lists in Excel that allow you to define your own
sequences or sets of values that can be easily populated in a column or row. Here's an overview
of how to create custom lists in Excel:

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1. Click on the File tab in the Excel ribbon.

2. Select Options from the menu.
3. In the Excel Options dialog box, choose Advanced from the left-hand panel.
4. Scroll down to the General section and click on the Edit Custom Lists button.
5. In the Custom Lists dialog box, you'll find three options: Import, Export, and Custom
lists.
• To create a new custom list, select the Custom lists option.
• In the List entries field, enter the values for your custom list. Each value should
be entered on a separate line.
• You can also type the values directly in an Excel worksheet and then select and
copy them.
6. Click the Add button to add your custom list to Excel. The custom list will be displayed in
the Custom lists box.
7. Click OK to close the Custom Lists dialog box.

Paste Functionality – Paste Special

The Paste Special feature in Excel provides a range of options to customize the way data is
pasted, allowing you to choose specific elements or operations for pasting, which can be helpful
in various data manipulation scenarios.
To use Paste Special:
1. Select the cells or range of cells that you want to copy.
2. Press Ctrl+C to copy cell/range.
3. Move the cursor to the location where you want to paste the copied data.
4. Right-click on the cell where you want to paste the data and choose Paste, or press
Ctrl+Alt+V to launch dialog box.
5. Select the desired paste option from the list, such as:
 Values: Paste only the values from the copied cells.
 Formulas: Paste the formulas from the copied cells.

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 Formats: Paste the formatting (including

colors, fonts, and other formatting) from
the copied cells.
 Comments: Paste any comments
associated with the copied cells.
 Transpose: Paste the copied data in a
transposed manner, switching rows and
columns.
 All using Source theme: Paste with the
source theme formatting.
 Operation: Perform mathematical
operations on the copied data, such as
adding, subtracting, multiplying, or dividing.
 Skip blanks: Paste only the data from the copied cells, skipping any blank cells.
6. After selecting the desired option, click the "OK" button.

The data will be pasted according to the selected Paste Special option in the specified location.

You can also use the Paste Link feature in Paste Special to establish a dynamic link between the
source data and the destination location in your spreadsheet. When you use Paste Link, any
changes made to the source data will automatically update in the destination location, ensuring
that the linked information remains current and accurate.

That means that any changes made to the source data will be automatically reflected in the
linked destination location. This eliminates the need to manually update the data, ensuring
accuracy and consistency. In addition, by linking data instead of copying and pasting it, you
avoid duplication and potential errors that can arise from manually updating multiple instances
of the same information.
Linked data can be used to create dynamic reports and perform analysis. As the source data
changes, any reports or analyses based on the linked data will automatically reflect those
changes, providing up-to-date insights.

Flash Fill Functionality

Flash Fill automatically fills your data when it senses a pattern. For example, you can use Flash
Fill to separate first and last names from a single column, or combine first and last names from

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two different columns. It used predictive technology to help you fill cells with information
efficiently, rather than having you spend much time typing everything manually.
For formatting and concatenating:

For Parsing:

To use Flash Fill, you must have your data set up properly:

• Flash Fill will take data from the columns to the immediate left. There can be no empty
columns between your Flash Fill location and the original data set.

There are multiple ways to use Flash Fill. The easiest way is using the fill handle.
1. Select the example cells you want to use for your Flash Fill. You can select multiple cells
by holding the Shift key on your keyboard and clicking on 2 or more cells.
2. Position the mouse cursor in the bottom-right corner of the last selected cell. You
should see the cursor transform into a + sign.

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It’s also available under the Data tab, in the Data Tools group. One can also launch it by
pressing Ctrl +E.
The steps to use Flash Fill from the shortcut are similar to what we’ve done before.

• Select the column where you want to use the Flash Fill tool.
• Press the combination of CTRL + E on your keyboard and the data will be populated.

Once can also select Flash Fill from the Auto Fill Options.

When using Flash Fill with dates and numbers, one may need to format the destination cells
with the same format of the original data. For example, if the dates are formatted using
M/D/YYYY originally, one must change the destination cells’ formats from General to M/D/YYYY
using the Format Cells dialog box.
Sometimes, Excel Flash Fill does not recognize patterns in the data.

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Data Validation:
Allows you to control the type of data entered into your worksheet. In other words, you can
define restrictions on what data can or should be entered in a cell, and display messages that
prompt users for correct entries and notify users about incorrect entries. In other words, by
setting up data validation rules, you can prevent users from inputting invalid or incorrect data,
ensuring data accuracy and consistency.
Data Validation is available under the Data tab, in the Data Tools group, click Data Validation.

There are three tabs in the Data Validation Window:

 Settings: Restrict inputs (e.g., range of cell values)
 Input Message: Create message when cursor hovers cell. This message can provide
instructions or explanations about the expected input.
 Error Alert: Alert for invalid entry. The options include "Stop" (which prevents invalid
entries), "Warning" (which shows a warning but allows invalid entries), and
"Information" (which displays an informative message).

One can restrict inputs to be:

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• Whole Number - to restrict the cell to accept only whole numbers.

• Decimal - to restrict the cell to accept only decimal numbers.
• List - to pick data from the drop-down list.
• Date - to restrict the cell to accept only date.
• Time - to restrict the cell to accept only time.
• Text Length - to restrict the length of the text.
• Custom – for custom formula.

The most useful data validation option is to define lists of inputs. To create a Dropdown List
using data validation.
1. In the Data Validation dialog box, select the Settings tab.
2. In the Allow dropdown menu, choose List.
3. In the Source field, you can define the list values. There are two ways to do this:
• Manually enter the values: Type the list values directly into the Source field,
separating them by commas. For example, if you want a list of company markets,
you can enter North, South, East, West, Midwest in the Source field.
• Alternatively, you can refer to a range of cells: If you have the list values in a
specific range of cells, you can select those cells by clicking the range selection
icon (small icon at the right end of the Source field). This will populate the
"Source" field with the cell references of the selected range, such as $B$2:$B$6.
4. Optionally, you can check the In-cell dropdown box if you want to display a dropdown
arrow in the selected cell(s). This allows users to choose a value from the list.
5. Click OK to apply the data validation and create the list.

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Terminology and Shortcuts– Module 1: Lesson 3

Function Description
SUM Calculates the sum of a range of cells.
AVERAGE Calculates the average of a range of cells.
SUMPRODUCT Multiplies corresponding values in given arrays and returns the sum of those
products.
MEDIAN Finds the middle value in a range of cells.
MIN Returns the smallest value in a range of cells.
MAX Returns the largest value in a range of cells.
FORMULATEXT Returns the formula as text in a specified cell.
COUNT Counts the number of cells in a range that contain numbers.
COUNTA Counts the number of cells in a range that are not empty.
COUNTBLANK Counts the number of blank cells in a range.
ROUND Rounds a number to a specified number of decimal places.
ROUNDUP Rounds a number up to a specified number of decimal places.
ROUNDDOWN Rounds a number down to a specified number of decimal places.
TRUNC Truncates a number to a specified number of decimal places.
INT Returns the integer part of a number.
ABS Returns the absolute value of a number.
TEXT Converts a value to text in a specified number format.
IFERROR Returns a value if no error is encountered, otherwise returns an alternative
value.
CONCATENATE Joins multiple strings into one.
TRIM Removes leading and trailing spaces from a text string.
PROPER Converts the first letter of each word to uppercase.
UPPER Converts text to uppercase.
LOWER Converts text to lowercase.
LOWER Converts text to lowercase

TEXT FUNCTION
The TEXT function allows you to format a numeric value or a date/time value into a text string
with a specific format. It enables you to customize the appearance of your data by applying
various formatting options such as date formats, number formats, currency symbols, and more.
Syntax: TEXT(value, format_text)

• value: The numeric value or date/time value that you want to format.
• format_text: The format code that determines how the value should be displayed.

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Formatting a Date:
=TEXT(A1, "dd-mm-yyyy")
For example, if A1 contains the date 06/28/2023, the formula will convert the date into
a text string with the format "dd-mm-yyyy," displaying 28-06-2023.
Formatting a Time:
=TEXT(A2, "hh:mm AM/PM")
If cell A2 contains the time value 14:30, the formula will display it as "02:30 PM".
Formatting a Number:
=TEXT(A3, "$#,##0.00")
If A3 contains the number 1234.56, the formula will display it as "$1,234.56" with the
dollar sign, comma separator, and two decimal places.
Combining Text and Formatted Values:
=TEXT(TODAY(), "Today is dd-mmm-yyyy")
This formula combines the current date (using the TODAY() function) with the text
"Today is" and formats the result as "Today is 28-Jun-2023".

CONCATENATION in Excel
In Excel, the ampersand symbol (&) is used to concatenate, or join, text strings together. It
allows you to combine different pieces of text into a single cell or formula result.
To use the ampersand (&) to join text strings in Excel, follow these steps:

• For example, in cell A1, you could have the text "Quarterly Report," and in cell B1, you
could have the text "Sales Division"
• To display the concatenated text, select an empty cell, say C1, and enter the formula
using the ampersand symbol (&) to join the text strings. Type: =A1 & B1
• Press Enter to complete the formula. Cell C1 will display the concatenated text
"Quarterly ReportSales Division"

As you can see, with concatenation, you need to explicitly enter spaces. So, instead, out
formula needs to be: =A1 & " " & B1 ➔ "Quarterly Report Sales Division"

• If we want to have the text read "Quarterly Report --- Sales Division"
We need to use the formula: =A1 & " --- " & B1

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You can also use the ampersand symbol (&) with the TEXT function to format text strings in
Excel. To do so,

• Enter a number, date, or time value in a cell. For example, in cell A1, you could have the
number 1234.5678.
• In another cell where you want to display the formatted text, select an empty cell. Let's
use cell B1.
• In cell B1, enter the formula using the TEXT function and the ampersand symbol (&) to
concatenate the text strings. Type the following formula:

="The formatted number is: "&TEXT(A1,"0.00")

This formula concatenates the text "The formatted number is: " with the formatted
version of the value in cell A1.

• Press Enter to complete the formula. Cell B1 will display the concatenated and
formatted text: "The formatted number is: 1234.57".

Error Types in Excel

There are various types of errors in Excel:

Error Description
#DIV/0! This error occurs when attempting to divide a number by zero, which is not
a valid operation.
#VALUE! This error arises when an inappropriate argument type is used, such as
attempting to perform a mathematical operation on a text value, such as
adding a string to a number.
#REF! This error occurs when a formula refers to a cell or range that is invalid,
such as a deleted or moved cell.
#NAME? This error occurs when you misspell the name of a function, such as typing
AVG for AVERAGE, or attempt to use a name that you have not defined.
#N/A! This error commonly appears in lookup formulas like VLOOKUP when a
matching value cannot be found
#NULL! This error arises from incorrectly specifying ranges in a formula, such as
omitting the colon in a range reference
#NUM! This error occurs when an invalid number is supplied to a formula, such as
using negative values where positive values are expected, such as taking
the square root of a negative number.
#SPILL This error is specific to Office 365 with Dynamic Arrays and occurs when a
spilled range is blocked by text or values in cells below it. To fix it, remove
the contents below the cell.

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IFERROR Function
We can use the IFERROR function to handle errors in formulas and calculations. Its purpose is to
check whether a formula or expression produces an error and, if so, return a specific value or
perform an alternative action.
Syntax: IFERROR(value, value_if_error)

• value is the expression or formula you want to evaluate.

• value_if_error is the value or action you want to perform if the value results in an error.

The IFERROR function evaluates the value parameter. If the value produces an error, such as a
#VALUE!, #DIV/0!, or #N/A error, the function returns the value_if_error. This allows you to
handle errors gracefully and display custom messages or perform specific actions when errors
occur.’
For Example, if cells B2:B10 contain the total $ sales for items, and cells C2:C10 contain the
number of units sold for each item, we can use IFERROR to display the message should our
calculation for Price per Unit (B2/C2) result in an error.

• In C2, we can enter: =IFERROR (B2/C2, "No Units Sold for this Item").
• We can use the Auto Fill to fill the rest of the range
• If the Excel encounters an error in any of the rows, such as if C7 contains zero, the
IFERROR function will return the value "No Units Sold for this Item" instead of the error
message. For cells where the value in column C is non-zero, it will return the calculated
value of price per unit.

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Cell Referencing
An Excel worksheet is composed of cells. Each cell has a cell reference that includes a letter followed by
a number, where the letter indicates the column and the number represents the row. For example, A1
refers to the cell at the intersection of column A and row 1; whereas B5 refers to the second column and
the fifth row.

When you create a formula by that uses a function, you can refer to data in worksheet cells by including
cell references in the formula arguments. For example, when you enter =SUM(A2:A10), the formula
sums the values in the range of cells from A2 to A10.

Types of Cell Reference in Excel

Relative Cell Referencing

By default, a cell reference is a relative reference, which means that the reference is relative to the
location of the cell. If, for example, you refer to cell A2 from cell C2, you are actually referring to a cell
that is two columns to the left (C minus A)—in the same row (2). When you copy a formula that contains
a relative cell reference, that reference in the formula will change.

As the example below shows, if you enter the formula =SUM(B4:B7) in cell B8, it will sum the values in
cells B4 to B7, and return the total operating expenses in January. If you copy the formula from cell B8
to C8 (click on B8, press CTRL + C, click on C8, press CTRL+V), the formula in C8 adjusts to the right by
one column and becomes =SUM(C4:C7).

$45.230.00
00

ASIDE: SUMPRODUCT Function

At its most basic functionality, the SUMPRODUCT function returns the sum of the products of corresponding
ranges or arrays.
Syntax:
=SUMPRODUCT(array1, [array2], [array3], ...)

array1: Required -- The first array argument whose

components you want to multiply and then add.

[array2], [array3]: Optional -- Array arguments 2 to 255

whose components you want to multiply and then add.

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Absolute Cell Referencing

In the example below, each salesperson’s commission is given by the Commission Rate * Sales Revenue.
Note that we want to maintain the cell reference to cell B5 the same as we copy the formula down for
the other salespeople. In other words, we want to make the reference to B5 absolute. To do so, we
precede column (B) and row (5) with a dollar sign ($). Then, when you copy the formula =$B$5*B9 from
C9 to C13, the formula keeps the reference to B5 the same.

Mixed Cell Referencing

In the example below, a firm plans to offer different quarterly discounts to the regular price of products.
In QTR 1, the firm will discount the price by 90%, in QTR 2 by 80% and son on. For the first item, the
Discounted Price can be found by entering the formula =C7*D4 in cell D7. This returns a value of $39.08.
We need to modify the formula so that we can copy it for the other nine items, for the three remaining
quarters (cells D7:G16).

If we just copy the formula over from D7 (Select D7;

press CTRL + C) go to D8 (press CTRL + V).

We see that we are no longer pointing to the discount rate in D4.

Note that we do not want to use an absolute reference ($D$4). While this would be fine if we copied the
formula for the remaining products for QTR1 (in column D), when we copied the formula to calculate
the discounted price for QTR 2 (in column E), we would continue to point to cell $D$4 instead of
pointing to cell E4.

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 Durango-Cohen
We want to lock only the row value. We want the formula to show D$4.
Thus, we go back to cell D7 and change the formula to =C7*D$4.
When we copy the formula in D7 down to D8 and over to E7, we see that the discount cell updated
correctly to E$4. Unfortunately, the price in E7 is not being computed using the regular price. The C7
updated to D7.

We need to lock the column. We want the formula to show $C7.

Thus, we go back to cell D7 and change the formula to $C7*D$4

In Excel, mixed cell references contain dollar signs attached to either the letter or the number in a
reference. E.g., $B2 or B$4. It is a combination of relative and absolute references.

Below is a screenshot from Excel’s Help showing how a reference type updates if a formula containing
the reference is copied two cells down and two cells to the right.

IMPORTANT SHORTCUT:

• Clicking on F4, cycles through the four possible combinations of absolute and relative
references; for example,
o B2 ➔ $B$2 ➔ B$2 ➔ $B2
o $B$2 – Locks cell position
o B$2 – Locks row value as cell is copied
o $B2 – Locks column value as cell is copied

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