Next generation excel modeling in excel for analysts and MBAs, 2nd edition

Next Generation Excel ® Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States With offices in North America, Europe, Australia and Asia, Wiley is globally committed to developing and marketing print and electronic products and services for our customers’ professional and personal knowledge and understanding The Wiley Finance series contains books written specifically for finance and investment professionals as well as sophisticated individual investors and their financial advisors Book topics range from portfolio management to e-commerce, risk management, financial engineering, valuation and financial instrument analysis, as well as much more For a list of available titles, visit our Web site at www.WileyFinance.com Next Generation Excel ® Modeling in Microsoft® Excel® for Analysts and MBAs (for Windows® and Mac® OS) Second Edition ISAAC GOTTLIEB John Wiley & Sons Singapore Pte Ltd To my father, Yeshayahu Gottlieb, and to Gilda, Edon, Sivan, David, Jonah, Ruby, and Lev Copyright ª 2013 by John Wiley & Sons Singapore Pte Ltd Published by John Wiley & Sons Singapore Pte Ltd Fusionopolis Walk, #07-01, Solaris South Tower, Singapore 138628 All rights reserved First edition published by John Wiley & Sons Singapore Pte Ltd in 2010 No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as expressly permitted by law, without either the prior written permission of the Publisher, or authorization through payment of the appropriate photocopy fee to the Copyright Clearance Center Requests for permission should be addressed to the Publisher, John Wiley & Sons Singapore Pte Ltd., Fusionopolis Walk, #07-01, Solaris South Tower, Singapore 138628, tel: 65–6643–8000, fax: 65–6643–8008, e-mail: enquiry@wiley.com Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose No warranty may be created or extended by sales representatives or written sales materials The advice and strategies contained herein may not be suitable for your situation You should consult with a professional where appropriate Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages Microsoft and Excel are registered trademarks of Microsoft Corporation Mac and Mac OS are trademarks of Apple Inc., registered in the U.S and other countries Other Wiley Editorial Offices John Wiley & Sons, 111 River Street, Hoboken, NJ 07030, USA John Wiley & Sons, The Atrium, Southern Gate, Chichester, West Sussex, P019 8SQ, United Kingdom John Wiley & Sons (Canada) Ltd., 5353 Dundas Street West, Suite 400, Toronto, Ontario, M9B 6HB, Canada John Wiley & Sons Australia Ltd., 42 McDougall Street, Milton, Queensland 4064, Australia Wiley-VCH, Boschstrasse 12, D-69469 Weinheim, Germany Library of Congress Cataloging-in-Publication Data ISBN ISBN ISBN ISBN 978-1-118-46910-1 978-1-118-46909-5 978-1-118-46907-1 978-1-118-46908-8 (Hardcover) (ePDF) (Mobi) (ePub) Typeset in 10/12pt SabonLTStd by MPS Limited, Chennai, India Printed in the United States of America 10 “For wisdom is better than rubies, and all the things one may desire cannot be compared with her.” Bible, Proverbs (Chapter VIII, Verse 11) Contents Foreword xv Preface xvii Acknowledgments xxi PART ONE Using Excel Efficiently CHAPTER AutoFill AutoFill Options Right-Drag AutoFill Appendix: AutoFill in Excel 2003 and Excel Mac 2011 Review Questions Answers 8 10 13 14 CHAPTER Selecting Efficiently in Excel 15 Review Questions Answers 18 19 CHAPTER Formulas, Functions, and Relative and Absolute Addressing Relative and Absolute Addressing Other Functions Appendix: Doing It in Mac Excel 2011 Review Questions Answers CHAPTER Naming Cells and Ranges Naming a Single Cell Naming a Range of Cells Using the Name Menu to Create Names Appendix: Using the Names Menu in Excel 2003 and Mac Excel 2011 Review Questions Answers 21 22 25 28 29 30 31 31 33 34 38 41 42 vii CONTENTS viii CHAPTER Conditional and Advanced Conditional Formatting in Excel Simple Conditional Formatting; Adding a Rule New Conditional Formatting Features Advanced Conditional Formatting Appendix: Using the Conditional Formatting in Excel 2003 Review Questions Answers CHAPTER Excel Charts Quick/Instant Chart Creating a Chart Using the Menu Adding More Data to an Existing Chart More about Charts Three-Dimensional Charts—Column and Pie Pie Charts Appendix: Generating Charts in Excel 2003 and Mac Excel 2011 CHAPTER Sparklines and Advanced Topics in Excel Charts Sparklines More about Charts Review Questions Answers 45 45 46 49 52 53 55 57 57 57 61 64 66 70 73 81 81 83 90 91 PART TWO IF Functions and Text Manipulations CHAPTER IF Functions Simple IF Functions Nested IF Functions Nested IF—Payroll Example Appendix: Using the IF Function in Mac Excel 2011 Review Questions Answers CHAPTER Text Manipulation Text to Columns Appendix: Using Text to Column in Excel 2003 Review Questions Answers 93 95 95 98 99 101 102 102 103 103 108 111 112 380 APPENDIX ANSWERS First, I created a scatter chart After the map was inserted, I had to adjust the location of a couple of cities on the spreadsheet so that the map will show all the cities in the correct location Summary Case Study—Supply Chain Management Example See the figure The two menus show Format Controls for the scroll bars 381 382 APPENDIX First, I created the Data Table Second, I copied it over and deleted the top-left cell value See figure Summary Case Study—Supply Chain Management Example 383 Next, I created the two Surface Charts and added the map for the 3-D wireframe Surface Chart About the Author Dr Isaac D Gottlieb PhD is a professor of management and statistics at the Fox Business School of Temple University in Philadelphia, PA, USA He was previously the Director of the International Executive MBA programs at Rutgers University Business School He has been part of the teaching faculty at Rutgers for over 10 years, and was the recipient of a number of teaching excellence awards Over the past 15 years, he has taught how to use Excel—and how to apply it effectively to various business disciplines—to thousands of MBA and Executive MBA students at Rutgers, Temple, NYU, Columbia, and other universities He has also instructed Excel application in business settings to over 20,000 participants in corporate seminars, conferences, and workshops The participants are professionals from leading multinational companies as well as small private business corporations Among them are Johnson & Johnson, Merck, Pfizer, Procter & Gamble, Caterpillar, Vornado, El-Al Airlines, Microsoft, Intel, Boeing, NCR, Chrysler, Sealed Air, JPMorgan, Morgan Stanley, 3M, H-P, and the New York City Economic Development Corporation Dr Gottlieb has an Excel-Tip-Of-The-Month newsletter that goes to over 50,000 recipients Dr Gottlieb has earned his PhD and two Masters Degrees from Columbia School of Engineering He has more than 20 years of business and industry experience as a CEO of manufacturing companies and as a senior consultant 385 Index zA, 15, 16 zỵShiftỵdown arrow, 1517 zỵShiftỵleft arrow, 16 zỵShiftỵright arrow, 16, 17 zỵShiftỵup arrow, 16 zỵT, 24 Absolute addressing, 2225, 31, 32 Activating and installing Add-ins, generally, 141, 315 Analysis ToolPak, 141, 142, 148, 315 AutoFilter, 241, 242 Data Form, 249–251 Solver, 343, 345, 349, 350 ActiveX controls, 200 Add-Ins activating/installing, 141, 315 Analysis ToolPak See Analysis ToolPak menu, 141 Solver See Solver Add Mode, 18 Addressing absolute, 22–25, 31, 32 relative, 22–24, 26 Advanced Options menu, 3, 4, 10 ALTỵ, 117, 118, 251, 267 ALTỵẳ, 117, 118 ALTỵDỵO, 249 ALTỵF1, 58 Amortization tables, 325333 Analysis ToolPak about, 141 activation and installation, 141, 142, 148, 315 descriptive statistics, 141–146 Excel 2003, 148 Histogram feature, 143, 144, 146, 147 Mac Excel 2011, 148, 315 multi-regression, 151–160 XIRR (IRR for uneven intervals), 315–318 XNPV (NPV for uneven intervals), 315–317 AnalystSoft, 148, 151, 160 Animation, 85–89, App A Apply Names, 170–172, 174 Arguments Function Arguments, 115, 117, 122, 133, 187, 222, 316, 319, 330, 333 IF function, 95 Payment Function, 178 Rate, 167, 177 Array functions, 122, 123, 127 See also FREQUENCY (statistical function) Ascending order, sorting in, 232, 233, 236, 237 Attributes charts, 73, 75 Scroll Bar, 202 Auto Outline, 255–259 AutoFill Custom Lists, 3–5, 7, 8, 10–12 dates, 328, 329 Excel 2003, 10, 11 linear regressions, 134, 135 Mac Excel 2011, 12 menu, options, 8–10 right-drag, 8–10 AutoFilter about, 241 activating, 241, 242 below and above average, 243 colors, 243, 244 dates, 241, 243 Excel 2003, 244–246 AutoSum (Σ), 25, 26, 215, 217 Average function (MEAN), 26, 27, 29, 31, 33, 115–117 Average Summary function, 263 Axis See also Charts Format Axis menu, 86, 87 x-axis, 57, 60–62, 65, 66, 73, 75, 123, 125, 126 y-axis, 60–62, 65, 73, 75, 126 BEP See Break-Even Point (BEP) Bin (binary) option, selecting, 355 Bin Range, 143 Binary values (0 or 1), 320, 326, 330, 354, 355 Bins, 121–127, 146 Bins_array, 122, 123, 127 Break-Even Point (BEP) on charts, 85–89 using Goal Seek, 180, 181, 343 using Solver, 343, 344, 346–348 Budgets, 180, 181, 213 See also Break-Even Point (BEP); Capital budgeting Buttons See specific buttons 387 388 Capital budgeting, 309, 353–358 Cash flow, 312, 316, 317 Cell Link, 87, 202 Cells AutoFill See AutoFill AutoFilter See AutoFilter changing names of, 168–170 copying formulas, 21–25 dummy cell, 203 formatting, 45–53 naming, 31–34, 37–41, 133, 167–174 selecting, 15–18 sorting See Sorting data text manipulation, 103–111 variable See Variables visible, 267–272 Charts animating, 85–89 changing type of, 57, 58 Chart Tools ribbon, 57, 59, 60 Chart Wizard, 70, 73, 77, 78 column charts, 57–62, 66–70 creating, 57–61 data, adding to existing chart, 61–64 data series, selecting, 62–64, 71 data tables, 61 See also Data tables Excel 2003, 73–78 Format Axis, 86 Format Data Point, 64, 69, 71, 77 frequency distributions, 123–129 inserting into pivot table, 291–297 legends, 60–61, 73 line charts, 65, 66 Mac Excel 2011, 79 options, 57–59, 65–67, 71, 73–75, 77 pictures in, 67–71 pie charts, 70–72 quick/instant, 57, 58 scatter charts, 65, 66, 131, 132, 136–139 Sparklines, 81–84 supply chain management case study, App A Surface Charts, 84, 85 three-dimensional, 66–72, 84, 85, 291, 296, 297 titles and labels, 60 two-dimensional, 59, 79, 123, 127 See also Charts x-axis, 57, 60–62, 65, 66, 73, 75, 123, 125, 126 y-axis, 60–62, 65, 73, 75, 126 Clear Outline, 257, 258 Col index num, 223, 225 Collapsing data, 257, 258, 265 Color filtering by, 241, 243, 244 formatting, 45–51, 53 scales, 49–51 sorting by (Excel 2010 and 2007), 233–235 Column charts, 57–62, 66–70 INDEX Columns AutoFill See AutoFill AutoFilter See AutoFilter AutoSum function See AutoSum (Σ) changing names of cells in, 168–174 formatting See Formatting formulas, copying, 21–25 highlighting, 4, 6, 16 labels, 276, 277, 279, 281, 283 naming cells and ranges, 31–41 outlining See Outlining data relative addressing See Relative Addressing selecting See Selecting separating data in, 93, 103–111 sorting data See Sorting data Command key z (Mac), 16 Commands and command icons, 103, 249, 250 Conditional formatting about, 45 advanced, 49–52 Color Scales, 49–51 Data Bars, 49, 50 Excel 2003, 52, 53 Icon Sets, 49–52 new features (Excel 2010/11 and 2007), 46–52 simple, 45, 46 Constraints, 346–348, 353–355 Contour charts, 84, 85 Copying CTRLỵC, 62, 76, 267 data and adding to chart, 62, 76, 77 formulas, 21–25 grouped data, 265, 267, 268 pictures and inserting into chart, 67–71 Count function, 263 Create Names See also Names menu, 34, 35, 38, 39, 170, 171, 173 from Selection, 34–36, 310 Crosshair cursor, 3, 4, 22, 201, 206, 223, 328 See also Drag handle CTRLỵ (CTRLỵaccent mark), 22, 97, 98, 117, 167, 170, 177 CTRLỵB (CTRLỵtilde), 22, 97, 98, 117, 167, 170, 177, 216 CTRL key, 16, 18, 213, 301, 302 CTRLỵ1, 278 CTRLỵA, 15 CTRLỵC (copy), 62, 76, 267 CTRLỵEnd, 16 CTRLỵEnter, 21, 25 CTRLỵG (go to), 267 CTRLỵH (replace), 156 CTRLỵHome, 16 CTRLỵShift, 123 CTRLỵShiftỵ*, 15, 16, 33, 123 CTRLỵShiftỵdown arrow, 1517 CTRLỵShiftỵEnd, 16 Index CTRLỵShiftỵEnter, 127 CTRLỵShiftỵleft arrow, 16 CTRLỵShiftỵright arrow, 1517 CTRLỵShiftỵup arrow, 16 CTRLỵV (paste), 62, 76, 85, 267 CUMIPMT function (cumulative interest), 332, 333 CUMPRINC function (cumulative principal), 332, 333 Cumulative Interest function (CUMIPMT), 332, 333 Cumulative Principal function (CUMPRINC), 332, 333 Curled brackets, 123 Custom Lists, 3–5, 7, 8, 10–12 Customize Quick Access toolbar, 249, 268 Customize Ribbon, 200 Data Analysis (Analysis ToolPak) about, 141 button, 142 descriptive statistics, 141–146 Excel 2003, 148 Histogram feature, 143, 144, 146, 147 installation and activation, 141–142, 148, 315 Mac 2011, 148 menu, 142 multi-regression, 151–160 Data Bars, 49, 50 Data Form activating, 249–251 Excel 2003, 251, 252 Mac Excel 2011, 252 Data menu about, 229 AutoFilter See AutoFilter Data Table, 186, 192 PivotTable See Pivot tables Sort See Sorting data Subtotals, 269–272 Text to Column, 103, 108, 110 Data mining, 289–297 Data point, 63, 64, 67, 69, 71, 77, 133, 190 Data ribbon AutoFilter, 241, 243, 244 Data Analysis, 141, 142, 145, 153 Group menu, 255, 259 Pivot Table, 283 Solver, 345, 346, 349, 355, 359, 372 Sort, 231 See also Sorting data Subtotal, 263 Text to Column menu, 104, 110 Ungroup menu, 257 What-If Analysis menu, 179, 186, 193, 196 Data series, 62, 65, 77, 79, 124–126 Data tables, 165, 185–193, 199 Data_array, 122, 127 389 Databases Data Form, 249–252 data mining, 289–297 filtering, 241–246 grouping data, 255–259 outlining data, 255–259 pivot tables See Pivot tables setup rules, 229 sorting data, 231–238 subtotals, 263–272 Decision making charts, use of, 85 IF function, 93, 95 See also IF function and naming cells and ranges, use of, 31, 167 and sensitivity analysis, 185, 199 Solver, use of, 353 See also Solver statistical tools, use of, 113 What-if analysis, use of, 165 Define Name menu, 38–41, 170 Delimited data, 103–105, 109 Depreciation, 337–339 Descending order, sorting in, 232, 233, 236, 237 Descriptive statistics Data Analysis (Excel add-in), 141–146 statistics functions, 115–119 Developer Ribbon, 86, 200, 206, 207 Distribution See Frequency distributions Distribution centers and supply chain distribution, 85, App A Double-click, 3, 4, 6, 22, 25, 32, 98 Drag handle, 3–6, 22, 26, 98, 216, 223, 328, 330, 332 See also Crosshair cursor Dummy cells, 203 Edit, 37, 126, 270, 271 Edit Custom Lists button, 3, Edit Rule, 48, 52 End-of-period payments, 167, 177, 319 Excel options See Options menu Excel XIRR (internal rate of return for uneven intervals), 315–318 Excel XNPV (net present value for uneven intervals), 315–317 Exponential trend, 10 Extend mode, 18 F1 key, 58 F3 key, 26, 28, 34, 98, 115, 117, 122, 222 F4 key, 24 F8 key, 18 F10 key, 233, 234 F11 key, 57, 58, 79, 213 Fields Data Form, 250, 251 See also Data Form field list, 275, 278, 301 pivot tables, 275–285, 293 See also Pivot tables File extensions, 141 INDEX 390 Fill Series, 326, 327 Filter button, 241 Filtering See also AutoFilter by color, 241, 243, 244 databases, 241–246 fields in pivot tables, 281, 282 Slicers, use of, 301–305 Sort and Filter icon (Home ribbon), 233, 234 Financial Tools about, 307 amortization tables, 325–333 depreciation, 337–339 Excel XIRR (internal rate of return for uneven intervals), 315–318 Excel XNPV (net present value for uneven intervals), 315–317 frequently used financial functions, 319–322 internal rate of return (IRR), 309, 311, 312 net present value (NPV), 309–311 FORECAST (statistical function), 133–135 Forecasting multi-regression model, 152 See also MultiRegression using Data Analysis statistical regression models, 132, 136, 137 Form Controls, 201 Format Axis, 86 Format Control, 201, 202 Format Data Point, 64, 69, 71, 77 Format Data Series, 77, 79 Formatting color, 45–51, 53 conditional See Conditional formatting Number Format button, 279, 280 pivot tables, 278–280 Slicers, 302–304 Forms Toolbar, 205 Formulas, 21–25, 167, 177 Formulas ribbon, 22, 28, 29, 34, 41, 168, 170 FREQUENCY (statistical function), 122, 123, 127 Frequency distributions about, 121 bins_array, 122, 123, 127 charts, 123–129 See also Charts data_array, 122, 127 frequency bins, 121, 122 Function Arguments, 115, 117, 122, 133, 187, 222, 316, 319, 330, 333 Function icon (fx), 25, 26, 28, 117 Functions Arguments, 115, 117, 122, 133, 187, 222, 316, 319, 330, 333 array functions, 122, 123, 127 See also FREQUENCY (statistical function) AutoSum (Σ), 25, 26, 215, 217 Average function, 26, 27, 29, 31, 33, 115–117 Average Summary, 263 Count, 263 CUMIPMT (cumulative interest), 332, 333 CUMPRINC (cumulative principal), 332, 333 descriptive statistics, 115–119 financial functions, 167, 319–322 See also specific functions FORECAST (statistical function), 133–135 FREQUENCY (statistical function), 122, 123, 127 Future Value (FV), 321 HLOOKUP, 222 IF function, 95–101 Insert, 115, 116, 118, 122 INTERCEPT (statistical function), 133 IPMT function (interest payment), 319, 330, 331 IRR (Internal Rate of Return), 39, 311, 312 Lookup & Reference, 211, 222–226 Mac Excel 2011, 28, 29 MAX (highest value in a range), 117, 121 MEAN (average function), 26, 27, 29, 31, 33, 115–117 MEDIAN, 117 menus, 26 MIN (lowest value in a range), 117, 121 MODE, 117 Payment function (PMT), 167, 168, 177, 178, 319, 320, 325, 326, 329 statistical, 26, 29, 115, 117, 122, 133 See also specific functions Future value (fv, in Payment function), 319, 320, 325, 326 Future Value function (FV), 321 FV (Future Value function), 321 fv (future value), in PPMT function, 329, 330 fx (function icon), 25, 26, 28, 117 Go To Special, 267 Go To Visible Cells only, 267 See also Visible cells Goal Seek about, 165, 177–180 break-even point analysis, 180, 181, 343 Excel 2003, 182 Mac Excel 2011, 182 Gridline menu, 73 Grouping buttons, 265, 266 Grouping data, 255–259, 263, 265–268 Grouping menu, 265, 293–295 Growth Trends, 8–10 Histograms, 143, 144, 146, 147, 160 HLOOKUP function, 222 Home key, 16 Home ribbon Conditional Formatting, 45 Fill Series, 326, 327 Sort and Filter icon, 233–234, 241 Index Icon Sets, 49–52, 243 IF function about, 95 Mac Excel 2011, 101 nested, 98–101 simple, 95–98 Import button, custom lists, 4, 11, 12 Text Import Wizard, 105, 109 Incremental change, 87, 165, 202 Insert Controls, 200 Insert function, 115, 116, 118, 122 Insert Tool Box, 86 Installing See Activating and installing Instant chart (quick chart), 57, 58 Intercept, 131, 133, 153, 154, 158 INTERCEPT (statistical function), 133 Interest CUMIPMT (Cumulative Interest function), 332, 333 IPMT (interest payment function), 319, 330, 331 Interest payment function (IPMT), 319, 330, 331 Internal Rate of Return (IRR), 39, 311, 312 IPMT function (interest payment), 319, 330, 331 IRR (Internal Rate of Return), 39, 311, 312 Legends, 60, 61, 73 Line charts, 65, 66 Linear optimization See Solver Linear regression, 133–137 Lookup & Reference functions, 211, 222–226 Lookup tables about, 221 approximate match (range lookup), 221–224 exact match, 224–227 Macros, 141, 200, 315 MAX (highest value in a range), 117, 121 MEAN (average function), 26, 27, 29, 31, 33, 115–117 MEDIAN, 117 MIN (lowest value in a range), 117, 121 MODE, 117 Multi-page spreadsheets, 213–218 Multi-Regression using Data Analysis about, 151 calculation, 152–160 coefficients, 154, 158 Excel 2003, 160 independent variables, 153 Mac Excel 2011, 160 R2, 152, 155–157 single variable regression (simple regression), 151–152, 155 Multivariate regression, 152 See also Multi-Regression using Data Analysis 391 Name Manager, 37, 168 Names cells, 31–34, 37–41, 167–174 changing, 168–170 Create Names from Selection, 34–36, 310 Create Names menu, 34, 35, 38, 39, 170, 171, 173 deleting or modifying, 37 Excel 2003, 38, 170–173 Mac Excel 2011, 38–41, 172–174 Name Manager, 37, 168 pasting, 37 range of cells, 31–41 single cell, 31–33 Slicers, changing names of, 304 use of, 31–33 Nested IF functions, 98–101 Net Present Value (NPV), 309–311, 353–355 Next button, 73 Non-linear optimization See Solver nper (number of payment periods) in PMT function, 319, 325 in PPMT function, 329, 330 NPER (Number of Periods function), 321, 322 NPV (Net Present Value), 309–311, 353–355 Number Format button, 279, 280 Number of payment periods (nper), 319, 325, 329, 330 Number of Periods function (NPER), 321, 322 Office icon, 4, 141, 206, 315 One-way data table, 165, 186 Optimizations using Solver, 353–360, App A Options AutoFill, 8–10 charts, 57–59, 65–67, 71, 73–75, 77, 137 conditional formatting, 50, 52–53 Slicers, 302–304 Solver, 355, 357, 359 sorting See Sorting data Text to Column, 104 Options menu, 3, 4, 10, 11, 141, 200, 206, 315, 345, 355, 357 Outlining data, 255–259, 263, 265–267 P-values, 155, 157 Page change, 87, 202, 203 Parameters Goal Seek, 178, 343 menu (in Solver), 346, 355, 359 regression, 131, 133, 152, 153 sensitivity analysis, 188, 189, 199, 201, 202 sorting See Sorting data What-if analysis, 178, 186 Parsing, 108 Payment function (PMT), 167, 168, 177, 178, 319, 320, 325, 326, 329 INDEX 392 Payroll example, 213–215, 217 per (period in PPMT function), 329 Pie charts, 70–72 Pivot tables about, 275 classic layout, 276, 277 creating, 275–282 data mining, 289–297 Excel 2003, 282, 296, 297 filtering data with Slicer, 301–305 formatting, 278–280 grouping data, 293–296 inserting charts into, 291–297 Mac Excel 2011, 283–285 PivotTable menu, 275–285 PMT (payment function), 167, 168, 177, 178, 319, 320, 325, 326, 329 PPMT function (principal payment), 329–331 Preferences menu, 12, 206 Present value (pv), 319, 325, 326, 329, 330, 333 Present Value function (PV), 319–321 Principal CUMPRINC function (cumulative principal), 332, 333 PPMT (principal payment function), 329–331 Principal payment function (PPMT), 329–331 pv (present value) in CUMIPMT function, 333 in CUMPRINC function, 333 in IPMT function, 330 in PMT function, 319, 325, 326 in PPMT function, 329, 330 PV (Present Value function), 319–321 Pythagorean Theorem, 50, 365 Quick Access menu, 249, 250, 268 See also Data Form Quick Access toolbar, 249 Quick chart (Instant chart), 57, 58 R2 (R-squared), 131–137 Range lookups, 221–225 Ranges, naming, 34–41 Rate in PMT function, 177, 319, 320, 325 in PPMT function, 329 of return, 322 in XNPV function, 316 RATE function, 319, 322 Regression line, 131, 132, 136, 137, 152 linear, 133–137 multi-regression See Multi-Regression using Data Analysis multivariate, 152 parameters, 131, 133, 152, 153 statistical, 131–140 Relative Addressing, 22–24, 26 Reports payroll, 213–217 pivot tables See Pivot tables Right-click, 233, 234 Rows formatting See Formatting highlighting, 16 labels, 276–277, 279, 281, 283, 389 naming cells and ranges, 31–41 selecting See Selecting RSQ (statistical function), 133 Salvage value, 337, 338 Scatter charts, 65, 66, 131–132, 136–139 Scroll bars, 165, 199–207, App A Select all, 15, 213, 214 Select Visible Cells, 268–271 Selecting data series (in charts), 62–64, 71 sections, 15 select all, 15, 213, 214 selection button, 250 selection shortcuts, 15–18 sheets, 15, 213, 214 visible cells, 268–271 Selection button, 250 Sensitivity analysis about, 185 break-even point analysis, 189–191 break-even point chart, 190, 192 data tables, 165, 185–191, 199 Excel 2003, 192 Mac Excel 2011, 193 scroll bars, 199–207 supply chain management case study, App A Surface Charts, use of, 84, 85 two-way sensitivity table, 187–189 Sheets, 15, 213–218 Shift key, 1518, 123, 215, 217, 301 Shiftỵdown arrow, 15 ShiftỵF3, 26, 28, 34, 98, 115, 117, 122, 222 ShiftỵF8, 18 ShiftỵF10, 233, 234 ShiftỵF11, 213 Shiftỵright arrow, 17 ShiftỵTab, 250 Shortcuts, 15, 26, 33, 58, 79, 98, 117, 222, 233, 234, 249, 267 See also specific shortcuts Show Formulas, 22 Skewness, 121, 127, 129 Slicer, 301–305 SLN (Straight Line Depreciation function), 337, 338 Slope (statistical function), 133 393 Index Solve button, 355, 359 Solver about, 341, 343 activating/installing, 343, 345, 349, 350 break-even point analysis, 343, 344, 346–348 capital budgeting, 353–358 constraints, adding, 347, 348 Excel 2003, 349, 350, 360 Mac Excel 2011, 349, 350, 360 menu, 347 nonlinear relationships, 355, 357–359 optimizations, 353–360, App A parameters menu, 346, 355, 359 Solve button, 355, 359 Sorting data about, 231 by color (Excel 2010 and 2007), 233–235 Excel 2003, 236, 237 Home ribbon, Sort and Filter icon, 233, 234 Mac Excel 2011, 237, 238 sort icons, 231–234 sorting by multiple parameters, 233 Sparkline charts, 81–84 Standard deviation (STDEV), 117 Standard deviation population (STDEVP), 117 Statistical functions, 26, 29, 115, 117, 122, 133 See also specific functions Statistical regression about, 131 Excel 2003, 137, 138 FORECAST function, 133–135 INTERCEPT function, 133 linear regression, 133–137 MacExcel 2011, 137, 139 R2, 131–137 RSQ function, 133 scatter charts, 131, 132, 136–139 SLOPE function, 133 trend lines, 131, 133, 136–139 Statistical tools Data Analysis, 141–149 Data Analysis, multi-regression, 151–163 descriptive statistics, 115–118 frequency distributions, 121–129 statistical regression, 131–140 StatPlus:mac LE, 148, 151, 160 STDEV (standard deviation), 117 STDEVP (standard deviation population), 117 Straight Line Depreciation function (SLN), 337, 338 Subtotal about, 263 calculating, 263–265, 269 copying grouped data, 265, 267, 268 Excel 2003, 269–271 grouping and outlining data, 263, 265–267 Mac Excel 2011, 270–272 menu, 265 SUM, 27, 34, 36, 117, 215, 263 See also AutoSum (Σ) Sum of the Years Digits function (SYD), 337–339 Summary functions, 263 Summary sheet, 213, 217 SUMPRODUCT, 354 Supply chain management case study, App A Surface Charts, 84, 85 SYD (Sum of the Years Digits function), 337–339 Table array, 222, 225 Templates, 213, 214 Text files, 103–111 Text Import Wizard, 105, 109 Text Manipulation Excel 2003, 108–110 Mac 2011, 110, 111 opening text files, 105–111 Text to Column, 103–109 Text to Column, 103–109 Third dimension (sheets), 213–218 Three-dimensional charts, 66–72, 84, 85, 291, 296, 297 See also Charts Time Value of Money functions, 309–311 Toolbars Customize Access, 268 Customize Quick Access, 249, 268 Customize Toolbars and Menus, 271 on Developer Ribbon, 200 Forms, 205 PivotTable, 296 ToolPak See Analysis ToolPak Tools Chart Tools, 57, 59, 60 Data Analysis See Data Analysis (Analysis ToolPak) financial See Financial Tools formatting, 49 Goal Seek See Goal Seek scroll bars, 165, 199–207, App A Slicer Tools, 302–304 statistical See Statistical tools What-If See What-if Analysis Tools menu, 11, 141, 147, 160, 182, 349, 350 Trend lines, 131, 133, 136–139 Two-dimensional charts, 59, 79, 123, 127 See also Charts Two-way data tables, 165, 187–189, 192, 193 Type (when payments are due) in PMT function, 320, 326 in PPMT function, 329, 330 Ungroup, 257 INDEX 394 Value Field Settings, 278, 279 Variables Data Tables, 165, 187 Goal Seek, 165, 169, 343 linear regression, 131, 151 multi-regression, 151–157 in pivot tables, 275, 289 scroll bars, 165, 199, 202 Solver, 343, 346, 353–355 VBA code, 141 Visible cells, 267–272 Visible Cells only icon, 268–272 VLOOKUP function, 222–226 What-if Analysis about, 165 and Goal Seek, 177–182 naming cells, 167–174 sensitivity analysis, 185–193, 199–207 supply chain management case study, App A Windows button, 141 Windows icon, Wireframe Contour charts, 84, 85 X-axis, 57, 65, 66, 123, 125, 126 See also Charts XIRR (IRR for uneven intervals), 315–318 xla file extension, 141 xlas file extension, 141 XNPV (NPV for uneven intervals), 315–317 Y-axis, 61, 65, 126 See also Charts Y-intercept, 151, 153, 154 Yes button, 141, 301, 315 Yes/No data, 96, 156, 157, 301 ... committed to developing and marketing print and electronic products and services for our customers’ professional and personal knowledge and understanding The Wiley Finance series contains books written... AutoFilter in Excel 2003 Review Questions Answers CHAPTER 23 Data Forms and Features Eliminated in Excel 2007 and 2010 Appendix: The Data Form in Excel 2003 or Earlier versions and Mac Excel 2011... Formatting; Adding a Rule New Conditional Formatting Features Advanced Conditional Formatting Appendix: Using the Conditional Formatting in Excel 2003 Review Questions Answers CHAPTER Excel Charts