Question

To have Excel enter the lowest price from a range of prices, which of the following would you use?

a) MIN function
b) MAX function
c) AVERAGE function
d) SUM function

Answer 1

To find the lowest price in a range of prices in Excel, the MIN function would be the correct choice.

Step-by-step explanation:

To have Excel enter the lowest price from a range of prices, you would use the MIN function. This function scans through a range of cells and returns the smallest number found. It is especially useful in financial analysis or budgeting when determining the least amount spent or minimum price. To use it, simply enter =MIN(cell1:cell2) where cell1 and cell2 define the range of prices you want to evaluate. Unlike the MAX function, which finds the highest value, or the average function which calculates the mean value, the MIN function specifically targets the lowest value in a given set of numbers.