Now that you have learned about the basics of formulas, learned how to perform some basic calculations, and how to select ranges and copy formulas, next we will have an introduction to functions, including using some common statistical functions. And then we will learn about some more advanced functions that a Data Analyst might also use. First, letâ€™s look at some common functions used for statistical calculations. So, weâ€™ll add some row headings for average, minimum, maximum, count, and median. Then in cell B20, letâ€™s work out the average of the car sales for the year, from the table above. On the Home tab, in the Editing group, we click the AutoSum drop-down list and choose Average. Now, because AutoSum tries to add up the values directly above it in the column, we need to modify the cell range here to B2 to B13. Then we can use the Fill Handle as weâ€™ve seen before to copy the formula across to column E. For the minimum calculation in B21, we select Min from the AutoSum list. And again, we need to modify the cell range. So this calculates the lowest value in our range. And fill across to column E. And for the maximum calculation, we select Max from the list. And then modify the range. And once again, copy the formula across. This calculates the highest value in our range. In B23 we will calculate the Count, which basically just means the number of values that exist in the selected range. So, we select Count Numbers from the list. Then modify the range. For the median calculation, we can select â€˜More Functionsâ€™ from the AutoSum list,then select â€˜Statisticalâ€™ as the category, and scroll down to find the MEDIAN function. The â€˜medianâ€™ returns the exact middle of a range of selected values. Note that if youâ€™re selecting an odd number of values it will return the figure that is the middle value in your selected range, but if you have selected an even number of values in your range, it will return the middle figure between the two middle values in your range. Once again, we need to change the cell range to B2 to B13. And we can then copy this formula across to column E. Youâ€™ve seen AutoSum and some of the common statistical functions in Excel, but there are another 400-plus other functions available, so letâ€™s explore just a few of those now. On the Formulas tab, in the Function Library group, there are drop-down lists for several function categories. The first is a list of â€˜Recently Usedâ€™ functions, which updates automatically as you use them. Then you have functions related to â€˜Financialâ€™ calculations. If you hover over the name of a function, you see a short description for each one; so here we have the accrued interest function, and here is the interest rate function. The â€˜Logicalâ€™ list has BOOLEAN operator functions such as AND, IF, and OR. There are several functions related to Text, such as CONCAT, which is an updated version of a previous function called CONCATENATE (which is still supported by the way for backwards compatibility), FIND, and SEARCH. There are also several functions related to dates and times, such as NETWORKDAYS, WEEKDAY, and WEEKNUM. In the â€˜Lookup & Referenceâ€™ list there are functions such as AREAS, HLOOKUP, SORTBY, and VLOOKUP. In the â€˜Math & Trigâ€™ list youâ€™ll find lots of useful mathematical functions, such as POWER, SUMIF, and SUMPRODUCT, alongside many functions for trigonometric purposes, such as cosine, sine and tangent. There is also a â€˜More Functionsâ€™ list which provides several more function categories, such as Statistical, Engineering, and Information. In the â€˜Statisticalâ€™ list youâ€™ll find functions such as Average, Count, Max, Median, and Min; we saw some of these used earlier in this video. If youâ€™re struggling to find the function you want in these lists, you can also search for a function; just click the â€˜Insert Functionâ€™ button on the Formulas tab, and then either browse the category lists available, or choose â€˜Allâ€™ and look down the alphabetical list for the function you want. Alternatively, type the name of a function you want to find, and click â€˜Goâ€™ to search for it, then select the one you want from the returned search. In this video, we learned about the basics of functions, how to use some of the more common functions that a Data Analyst might employ, and looked at some of the more advanced functions available in Excel. In the next video, we will look at referencing data in formulas; specifically differentiating between relative and absolute references, and error handling in formulas.