Key Terms

Key Terms

absolute cell reference

one in which the cell reference is fixed, regardless of where you copy the formula

array

selection of rows or columns that do not have to be contiguous

auditing formulas

process of using Excel tools to monitor and fix errors in worksheets

average

number found by adding up a group of values, and then dividing it by the number of values you added up; also called the mean

background

canvas that is displayed behind the cell contents of a worksheet

basic financial functions

main functions used for calculating loan installments, investment returns, net present value of capital investments, mortgage payment comparisons, and many more real-world applications

cell range

selection of rows or columns that is given a name to make it easier for the worksheet designer to find that specific group of cells later

Cell Style

tool that lets you select other font sizes and background colors

comparison operators

inequality symbols used in math; includes <, >, $\ge$, $\le$, =, and <>

complex formula

one that uses several operators to calculate an output

Data Table

scenario-building tool in Excel that lets users choose a set of cells on the spreadsheet, and then outputs different solutions or forecasts depending on different scenarios

filter

tool in Excel that lets the user select certain criteria so that only data with that criteria is shown

Format Painter

tool that lets you copy a certain range’s formatting and apply it to a new range

logical functions

long formulas with embedded logical tests that often use comparison operators to search for delimited data

MAX

function that finds the highest value in a dataset

MIN

function that finds the lowest value in a dataset

mixed cell reference

one that uses a combination of both relative and absolute cell references

order of operations

universal law of math used to prescribe the order of doing each calculation in an equation

PivotTable

tool in Excel that lets users create interactive charts and tables from raw datasets

relative cell reference

one in which the cell reference in a formula or function updates automatically to reference an adjacent cell when you copy that formula or function to another cell

standard deviation

common statistical tool used by many data analysts that calculates the variability of the figures in a dataset from the arithmetic mean

tracing dependent functions

finding the source of an error in a formula by finding any cells affected by the active cell

tracing precedent functions

finding the source of an error in a formula by locating the cells that provide the data to perform the calculation in the active cell