Final answer:
The nested IF statement in Excel returns 1 as both conditions are met: A3 is greater than or equal to 50, and B3 is less than or equal to 60.
Step-by-step explanation:
The provided EXCEL formula is a nested IF statement that evaluates two conditions for cells A3 and B3. The formula can be broken down into two main conditional checks: the first IF checks if the value in cell A3 is greater than or equal to 50, and if true, it then checks if the value in cell B3 is less than or equal to 60. If the condition for B3 is also true, it returns 1; otherwise, it returns 0. If the initial check for A3 is false (which it is not in this case), the second IF condition is checked, determining if B3 is greater than 60 to return 1 or 0 accordingly.
Since cell A3 contains the value 50 and B3 contains the value 60, both conditions are satisfied. The formula would result in 1 since A3 is indeed greater than or equal to 50 and B3 is less than or equal to 60.