Creating Formulas Referencing Data from Other Worksheets

Creating Formulas Referencing Data from Other Worksheets

Functions

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

Challenge Yourself 3.3 In this project you will complete a vehicle shopping workbook to compare the purchase of several vehicles. After completing the project, you can make a copy of the file and use it to compare vehicle purchases you are considering for yourself. Be sure to save your work often!

Skills needed to complete this project: • Naming Ranges of Cells

• Calculating Averages

• Finding Data Using the VLOOKUP Function

• Working with Named Ranges

• Using the Function Arguments Dialog to Enter Functions

• Using the Logical Function IF

• Calculating Loan Payments Using the PMT Function

• Creating Formulas Referencing Data from Other Worksheets

• Displaying and Printing Formulas

• Finding Errors Using Trace Precedents and Trace Dependents

• Finding Minimum and Maximum Values

• Using Formula AutoComplete to Enter Functions

• Updating Named Ranges with the Name Manager

• Editing and Deleting Names with the Name Manager

• Checking Formulas for Errors

  1. Open the start file EX2016-ChallengeYourself-3-3. The file will be renamed automatically to include your

name. Change the project file name if directed to do so by your instructor, and save it.

  1. If the workbook opens in Protected View, click the Enable Editing button in the Message Bar at the

top of the workbook so you can modify it.

  1. The registration fee information in cells B11:C17 on the Data sheet will be used in lookup formulas later in

this project. Name the range RegistrationFees to make it easier to use later.

  1. Return to the Purchase worksheet.
  2. Calculate the average MPG for each vehicle.

a. Enter a formula in cell C10 using the AVERAGE function to calculate the average value of C8:C9.

Use only one argument.

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

c. Excel will detect a possible error with these formulas. Use the SmartTag to ignore the error. Hint: Use

the SmartTag while cells C10:F10 are selected and the error will be ignored for all the selected cells.

  1. Calculate the registration fee for each vehicle.

a. Enter a formula in cell C13 to look up the registration fee for the first vehicle. Use the vehicle type in

cell C4 as the Lookup_value argument. Use the RegistrationFees named range as the Table_array

argument. The registration fees are located in column 2 of the data table. Require an exact match.

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

Step 1

Download start file

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

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

  1. Determine whether or not you will need a loan for each potential purchase.

a. In cell C15, enter a formula using an IF function to determine if you need a loan. Your available cash is

located on the Data sheet in cell A3. If the price of the car is less than or equal to your available cash,

display “no”. If the price of the car is more than your available, cash, display “yes”. Use absolute

references where appropriate—you will be copying this formula across the row.

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

  1. Calculate how much you would need to borrow for each purchase.

a. In cell C16, enter a formula to calculate the price of the vehicle minus your available cash (from cell A3

in the Data worksheet). Use absolute references where ap

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