4. Excel - 1 Computer Application in Management Yosi Wiesel...

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Unformatted text preview: 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 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 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? fv (rate, nper, pmt ) fv (0.08, 10, 5000) How much will he get if he saves on a monthly basis?...
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This note was uploaded on 10/25/2009 for the course BUSINESS 772 taught by Professor Sadeh during the Spring '07 term at Interdisciplinary Center Herzliya.

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4. Excel - 1 Computer Application in Management Yosi Wiesel...

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