Please note that the values shown are not actual market data (I made them up!).

Continuing with the automobile purchase example, take a look at the following worksheet: The statement has three parts, each separated by a comma, as shown in the formula above: the logical test, the value if true, and the value if false. This nifty formula in Excel allows the user to specify a logical condition, either numerical or textual, and returns a value, also specified by the user, for whether the condition is met (TRUE) or not met (FALSE). Let’s begin with a review of the IF formula by itself. This lesson will explain how to properly utilize this combination. While it is possible to scan through the data and mark each observation that meets these requirements, a simpler and faster way is to use an IF/AND or IF/OR function combination. For example, an analysis of a person’s ideal automobile purchase may require that the price is below a specific dollar amount, the engine has a minimum horsepower rating, and the transmission to be automatic.

Many insights derived from data analyses include determining the number of observations that meet specific characteristics.

Excel if then formula with range