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# 4. Excel - Computer Application in Management Yosi Wiesel...

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1 Computer Application in Management Yosi Wiesel 1 Chapter 4: Spreadsheets in Decision Making: What If? 2 Agenda Revisit the Function concept Financial functions and applications Statistical functions Use the IF and VLOOKUP functions to implement decision making

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2 Computer Application in Management Yosi Wiesel What is the spreadsheet view of a function? A black box that computes something and returns a value Example: =a12 * 17 + sqrt(g5) - 3 The syntax of functions varies: a1+ sqrt(g12) one argument (p8+12)* power(f9,3) two arguments pv(c1,c3,k11) three arguments sum(b1:b10) a series of numbers (range/block) sqrt(power(a1*7,3))
3 Computer Application in Management Yosi Wiesel Function anatomy function argumet1 argumet1 argument3 value value = function(argument1,argument2, ..., argumentn) Note: In some special function types, an n-ary function can also work with less than n arguments. In other words, some arguments may be optional. Function types Most widely used function types: 9 Mathematical 9 Statistical 9 Financial 9 Logical Other function types: 9 Date / Time 9 Lookup & reference 9 Database 9 Text 9 Information hotel2 hotel3 Worksheet sqrt

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4 Computer Application in Management Yosi Wiesel 7 Inserting a Function Use the Insert Function command from the Insert menu Use the list box to select the name of the function Functions are categorized Let the Wizard help you enter the arguments Point to enter cell references Use the Collapse button to collapse the dialog box 8 The Function Wizard Enter arguments into text boxes Collapse button shrinks dialog box if necessary Value returned by the function (answer) is displayed
5 Computer Application in Management Yosi Wiesel Function types Most widely used function types: 9 Mathematical 9 Statistical 9 Financial 9 Logical Other function types: 9 Date / Time 9 Lookup & reference 9 Database 9 Text 9 Information Financial functions: future value Your uncle is considering saving \$5,000 a year, until he retires, which is 10 years from now. The bank offers him 8% a year. How much money will he get when he retires?

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4. Excel - Computer Application in Management Yosi Wiesel...

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