Operations Management: An Integrated Approach, 5th Edition

IMPORTANT EXCEL FORMULAS

The examples in this supplement demonstrate sound spreadsheet modeling and analysis practices. Two features of Excel that are probably new to most of you were introduced: Goal Seek and Data Table. These two features are valuable when analyzing quantitative models with Excel. Another key feature that many people have not used extensively is Relative and Absolute Referencing.

Our examples used only a few Excel functions. You should get familiar with the Insert Function box as a way to learn about the many different functions (Insert/ Function from menu, or click the f_x button on the toolbar). Table A-3 serves as a reference for some of the most often used Excel functions in quantitative modeling. You may be familiar with some of these already. One of the most important aspects of modeling with spreadsheets is to understand what is possible. You don't have to memorize how to do everything, but if you know what is possible, you can figure the details out when needed.

TABLE A-3 Selected Important Excel Functions