Complete the Analysis section using formulas with statistical functions.

Copy the formula to the appropriate cells for the other vehicles.

A Skills Approach: Excel 2016 Chapter 3: Using Formulas and Functions

3 | Page Challenge Yourself 3.3 Last Updated 3/19/18

a. In cell C26, enter a formula using the IF function to display “yes” if the total monthly cost (cell C24)

is less than or equal to the total monthly amount available for vehicle expenses (Data sheet, cell A4).

Display “no” if the total monthly cost is not less than or equal to the total monthly amount available.

b. Copy the formula to the appropriate cells for the other vehicles.

c. Display formulas and use the error checking skills learned in this lesson to track down and fix

any errors.

Complete the Analysis section using formulas with statistical functions. Use named ranges instead of cell

references in the formulas. Calculate the average, highest, and lowest values for each of the following:

a. Price

b. MPG City

c. MPG Highway

d. Average MPG

e. Maintenance/Year

f. Registration Fee

g. Insurance/Year

h. Amount to Borrow

i. APR

j. Years

k. Loan Payment

l. Gas

m. Maintenance/Month

n. Insurance/Month

o. Total Monthly

Hints:

• Select cells B7:F24 and use Excel’s Create from Selection command to create named ranges for each

row using the labels at the left side of the range as the names.

• Open the Name Manager and review the names Excel created. Notice that any spaces or special

characters in the label names are converted to _ characters in the names.

• To avoid typos as you create each formula, try using Formula AutoComplete to select the correct

range name.

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