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BUSN 135
Business Math
| Question | Answer |
|---|---|
| Why Use Excel for Business Math? | #1: Your Job will require it!!!!! #2: Make many calculations quickly #3: Make complicated calculations MUCH easier #4: What IF Analysis: Change Formula Input and Answer Instantly Updates. |
| What Excel Does: | 1) Store Raw Data 2) Make Calculations (Formulas) 3) Perform Data Analysis (Convert Raw Data into Useful Information) |
| What does a Blue Worksheet Tab mean? | You work on this sheet. You do things like make calculations / create formulas on these sheets |
| What does a Red Worksheet Tab mean? | Shows completed work |
| What does a Yellow Worksheet mean? | Sheets with Notes |
| What does a Black Worksheet mean? | Homework Problems come after the Black Sheet (BLANK) |
| What is the Dark Blue Fill with White Font Mean? | #1) Column Headers in Data Set #2) Variable (Formula Inputs) Names |
| What do Cells with no Fill Color mean? | Item typed in cell |
| What do Cells with Light Green Fill Color mean? | Calculation = Formula |
| What do Cells with Light Yellow Fill Color mean? | Instructions, like for practice homework or tests. |
| How to start a formula? | The = sign |
| Excel's Gold Rules: | -If a formula input can change, put it into a cell and refer to it in the formula with a cell reference. -If a formula input will not change, you can type it into a formula. -Always label your formula inputs! |
| What is an Excel Model? | It is an Excel solution that we build to solve a problem that we will use more than one time. |
| Data Types and Default Alignment in Excel: | -Text = Left -Numbers (Numbers, Dates, Time) = Right -Logical = TRUE or FALSE = Centered & ALL Capitals |
| Ctrl + Shift + N | Create a new folder in Save As dialog Box or Windows Explorer |
| ÿ + E | Keyboard to open Windows Explorer |
| Ctrl + S | Save Changes in File |
| Ctrl + Z | Undo |
| Ctrl + Y | Re-do |
| Arrow Keys | Put Cell References into Formulas after you type an equal sign as first character in cell. |
| Ctrl + Enter | When you have a single cell in Edit Mode and you want to enter content and keep cell selected |
| Enter | When you have a single cell in Edit Mode and you want to enter content and keep cell selected |
| F2 | Puts a cell in Edit Mode |
| F4 Key | Locks Cell Reference (makes it an Absolute Cell Reference) |
| Ctrl + C | Copy |
| Ctrl + X | Cut |
| Ctrl + V | Paste |
| Ctrl + P | |
| Ctrl + Shift + 8 or Ctrl + * (Number Pad) | Highlight Whole Table |
| Ctrl + Arrow | Jumps to end of "Current Region" (Last Cell with Data before an Empty Cell) |
| Ctrl + Shift + Arrow | Highlights to end of "Current Region" (Last Cell with Data before an Empty Cell) Note: Can be used in succession like Ctrl + Shift + Arrow, then second Arrow |
| Alt + | is for SUM Function |
| F12 | Save As |
| Ctrl + Home | Jump to cell A1 |
| Ctrl + Backspace | Jump back to Active Cell |
| What does Number Formatting do? | 1) Number Formatting allows you to change how the Number is displayed |
| When you MUST use ROUND: | 1) You are required to round, like with Money. 2) You have extraneous decimals, like past the penny position. 3) You will use formula result in a subsequent formula. |
| Rules for ROUND: | Round to penny (hundredths position) use 2 Round to dollar (ones position) use 0 Round to thousands (thousands position) use -3 |
| When not to use ROUND: | When you are just looking at number, then you can use Number Formatting |
| Examples where you often have to round your numbers: | Payroll Invoices Income Taxes |
| Formula Types: | 1) Number formulas that deliver a single number answers such as a tax deduction or a insurance expense. 2) Logical formulas (Boolean Formulas) deliver a TRUE or FALSE. |
| Excel's Golden Rule: | If a formula input can change, put it in cell, label it and refer to it with a cell reference. |
| Formula Elements: | 1) Equal sign, = 2) Cell references, like A1, $A$1 3) Math operators, -, +, /, *, ^, and ( ) 4) Numbers (if they won’t change), like 12 months 5) Built-in Functions, like SUM and ROUND 6) Comparative operators, >, <, >=, <=, =, <> |
| Math order of operations | 1 ( ) ... First, do everything in the parentheses 2 ^ ... Second, do all exponents 3 * / Left to Right... Third, do all multiplication and division, left to right 4 + - Left to Right... Fourth, do all adding and subtracting, left to right |
| When to use ROUND Function | 1) You are required to round, like with Money. 2) You have extraneous decimals, like past the penny position. 3) You will use formula result in a subsequent formula. |
| SUM Function Hints: | 1) Use SUM Function rather than many plus symbols. 2) Do not wrap SUM Function around a calculation when the SUM Function is not necessary: |
| 1ST SET OF EXCEL'S COMPLETE FORMULA ORDER OF OPERATIONS, FOR MATH, COMPARATIVE AND JOIN OPERATIONS | 1 Parenthesis ( ) 2 Reference Operators: colon, comma Example of colon in range of cells: =SUM(A1:A4) Example of comma (union): =SUM(E10:G10,E14:G14) 3 Negation (-) Example: = -2^4 = 16 Example: = -(2^4) = -16 4 Converts % (1% to .01) |
| 2ND SET OF EXCEL'S COMPLETE FORMULA ORDER OF OPERATIONS, FOR MATH, COMPARATIVE AND JOIN OPERATIONS | 5 Exponents (^) Example: 3^2 = 9 6 Multiplication (*) and Division (/), left to right 7 Adding (+) and Subtracting (-), left to right 8 Ampersand (&) 9 Comparative symbols: =, <>, >=, <=, <, > |
| Note: If you try to use the arrow keys to put a Reference in the formula and it does not work, | Hit F2 key to toggle it back to "Enter" mode as seen on the left side of the Status Bar |
Created by:
maryvrey
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