1.

Start Excel and open the file named Practice 2 in your Excel 2003 Practice folder.

File->Open

The first thing to do is calculate the average income, the average expenses, and the average profit.

2.

Select cell B26 making it the active cell, type =AVERAGE (B2:B25) in the formula bar and press Enter.

If you prefer, you can select the cell range with the mouse rather than typing it in.

Next, select cell C27 and type =AVERAGE (C2:C25) into the formula bar. You can type the function name in lowercase letters if you wish, and Excel will change them to uppercase for you after you press Enter.

Finally, select cell D28 and enter =AVERAGE (D2:D25) into the formula bar.

You should now see figures for the average income, expenses, and profit. Notice that the expenses have been the same for all of the 24 months. If you select any cell in this column and change the values, the average function will recalculate and incorporate the new data into the average. This is true for the profit/loss and income columns as well.

3.

Now suppose that you want to know the profits earned separately, under the supervision of each Manager.

First, select cell F3 making it active. Type = SUM (into the formula bar and make sure the curser is flashing next to the first parenthesis. Now, use your mouse to select the range D2:D5 (the profit figures corresponding to the name Bob Smith) and you will see the range entered into the sum function. In the formula bar, type a comma after the range, and then use your mouse to select the range D23:D25.

You should see two ranges entered into the sum function, with both of the ranges outlined on the grid area of the Excel screen. Press Enter to implement the sum. Now follow a similar procedure for the other managers. Select cell F7, type =SUM (and select the cell ranges from the profit column with the name Jill Jones next to them. Select F12 and repeat the process for the name Brad Baker. Remember to type a comma in the function between range selections.

4.

When you are finished the function in cell F3 should read =SUM (D11:D15, D18:D22), the function in F7 should read =SUM (D6:D10, D16:D17), and the function in F12 should read =SUM (D11:D15, D18:D22).

The final worksheet should look like the following.

Please keeping in mind the following points:

·              You can display a formula or function in a cell by making the cell active

·              The best place to edit a formula or function is the formula bar

·               If the source data for a function is changed, the function will recalculate to incorporate the changes

·              If your function causes an error, it is most likely a problem with the way you entered the function’s arguments. ( recheck the requirements of the function and make changes as needed)

5.

Save your work and exit Excel