EXCEL Help?

Question

Hey I am working on a speadsheet that requires calculating the cost of health insurance plans people are enrolled in. If they are in plan A( Primier) the cost is 6500 if plan B( Standard) the cost is 5500 and I am required to put in a formula to calculate the their cost based on the plan they are in , there are only two possible plans ( Primier or Standard) , is this an IF/then statement or an If/else statement or something else? any suggestions????

Answer 1

You'd want to do a Conditional formula, or, as you have said, an IF/Then statement.

Let's say you have the following column titles:

Name Plan Type Cost

Column A is Name, Column B will either have A or B (or Primier or Standard if you prefer), and Column C will return either 6500 or 5500.

Your Conditional formula would be:

=IF(B2="Standard", 5500, 6500)

(Assuming, of course, that you are typing the words Standard or Primier into Column B per client.)

This formula is saying,

If Cell B2 has the word Standard in the cell, then return the value 5500. Otherwise return the value 6500.

Side note: You can set the format of the cells of Column C to Dollars, but don't put a dollar sign before 5500 or 6500 in the formula. That stores it as text.

Answer 2

if you have only two criterias then its better to go for if statement.

I guess your demands excel skills. if you are interested in some serious learning on excel or interested in automating your rotine stuff in excel.. may be u can checkout this site www.ExcelGoodies.Com

There are Excel Experts who can teach you excel online live.

I learnt it from them. May be u too can give a try.

Thanks
Sam Edwin

Answer 3

Its more than if/else

There are factors like age, gender, pre-existing health condition, occupational risks eg nurses & hiv risks, no claims bonus etc. You have to deal these using lookup tables.

Answer 4

=IF(A1="A",6500,5500)

A1 is your plan cell. so change it to your plan cell

hope this help you

Answer 5

If/Then