Question

Complete the Analysis section using formulas with statistical functions. Use named ranges instead of cell references in the formulas. Calculate the average, highest, and lowest values for each of the following:a. Price b. MPG City c. MPG Highway d. Average MPG e. Maintenance/Year f. Registration Fee g. Insurance /Year h. Amount to Borrow i. APR j. Years k. Loan Payment l. Gas m. Maintenance/Month n. Insurance/Month o. Total Monthly

Answer 1

Answer:

The formula for average is =AVERAGE(E15,E16).

The formula for highest is =MAX(F15,F16).

The formula for lowest is =MIN(G15,G16).

Explanation:

In MS Excel, on the left hand side below the tool bar there is a small box which tells the cell name where the cursor is clicked, the name of the cell can be changed from here easily, click on the desired cell and then by clicking on the box you can enter the name of the cell. After a cell is renamed the formula can be written by simply putting the name of the cell instead of the original e.g. E13

The formula for average is =AVERAGE(E15,E16).

The formula for highest is =MAX(F15,F16).

The formula for lowest is =MIN(G15,G16).

The cells provided in the formula above is just an example and more than two cells can be selected.