Chapter 5

Question 0

What is an argument ?

Answer 0

The value the function used to perform a calculation, including g a number text it cell reference that acts as an operand.

The argument follows the function name and is enclosed in parenthesis.
( if more then 1 argument, commas separate the arguments)

Question 1

What is a function ?

Answer 1

A shorthand way to write an equation that performs a calculation 
3 parts:
1. An equal sign =
2. Function name 
3. Atleast 1 argument

Question 2

Example of mathematical and trigonometric functions:

Answer 2

SQRT- square root
ROUND-(#,Num-digits) # in 1st argument rounded to the # of decimal places designated in the 2nd argument
Ex: =ROUND (14,23433,2) returns 14.23
LN-(#) the natural logarithm of #

Question 3

What are statistical functions used for ? Example of ?

Answer 3

Used to describe quantities of data

Ex:
AVERAGE 
COUNT
MIN
MAX
COUNTA
STDEV.
VAR.P

Question 4

What is the purpose of a financial function ? Example of?

Answer 4

Used to analyze loans and investments.
Ex:
FV
PV
PMT

Question 5

What are logical functions ?

Answer 5

Such as IF function, displays texts or values if certain conditions exist.