Final answer:
Sure, here's a formula using nested IF functions and structured references to achieve what you've described:
```excel
=IF([(at)[Elected]]="Yes", "Elected", IF([(at)[Finance Certified]]="Yes", "Yes", "No"))
```
Step-by-step explanation:
This formula checks if the value in the "Elected" column is "Yes". If it is, it displays "Elected". If not, it checks if the value in the "Finance Certified" column is "Yes" and returns "Yes" if true or "No" if false.
The formula in cell M2 checks a student's eligibility for running for office in student groups. If the "Elected" column displays "Yes," the formula returns "Elected." If not, it examines the "Finance Certified" column. If this column shows "Yes," it indicates the student is qualified to run, returning "Yes"; otherwise, it displays "No." The formula employs structured references to dynamically refer to the respective columns.
Nested IF functions allow sequential checks: first, verifying if a student is already elected, then determining eligibility based on finance certification. This approach provides a clear indication of a student's current status ("Elected") or potential eligibility ("Yes"/"No") for future office roles in the student groups.