Day 55

Upon completion of Lesson 5, you will be able to:

  • Identify the parts of a function.
  • Enter formulas with functions.
  • Use functions to solve mathematical problems.
  • Use functions to solve statistical problems.
  • Use functions to solve financial problems.
  • Use logical functions to make decisions with worksheet data.
  • Use functions to insert times and dates in a worksheet.
  • Use text functions to format and work with cell contents.

Activity 5-1

  1. You are considering purchasing a car and want to compare prices offered by different manufacturers. Manufacturers have cars that start with a base model and then allow you to add accessories you want.  Go to five car manufacturer’s websites, choose a car you’d like, identify it’s base price, and then build the exact car you want with the options given.  Then prepare  a  worksheet  similar  to  that  shown  in Figure 5-12.  


Perform the following operations to provide information that will be useful to making the car purchase decision.

  • In the range C3:C6, enter formulas that subtracts the values in column B from the values in column D.
  • In cell D9, enter a function that determines the highest price in the range D3:D6.
  • In cell D10, enter a function that determines the lowest price in the range D3:D6.
  • In cell D11, enter a function that determines the average price in the range D3:D6.

Name the workbook as Car Purchase followed by your initials. Close the workbook.

Activity 5-2

  1. A manufacturing company prepares a budget each month. At the end of the month, the Accounting Department prepares a report similar to the one shown in Figure 5-13, which compares the actual amount spent to the budgeted amount.  

Figure 5-13

Create this worksheet and then use the financial numbering format to identify items that exceeded the budget to be shown with parenthesis and in red as shown in the picture above.  Name the workbook Manufacturing Expense Report followed by your initials.