Final answer:
The =HLOOKUP function retrieves the value from the third row of the lookup table in the same column where a match is found for the value in cell F12.
Step-by-step explanation:
The function =HLOOKUP(F12, $A$3:$D$10, 3, TRUE) in Excel is designed to search for a value in the top row of a table and then return a value in the same column from a specified row. In this case, the function is looking for a value that matches the one in cell F12 within the first row of the range $A$3:$D$10. Once it finds a match, it retrieves the value from the third row in the same column where the match is found (option A). The fourth argument, TRUE, indicates that the function allows for an approximate match, meaning it will look for the closest value that is less than or equal to the value in F12, assuming the table is sorted in ascending order on the lookup row.