CFI-Excel-eBook

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The Corporate Finance Institute ExcelLookup and ReferenceCHOOSEGet a value from a list based on positionIndex_numvalue2value2What is the CHOOSE Function?The CHOOSE function is categorized under Lookup and Reference functions. Itwill return a value from an array corresponding to the index number provided.The function will return the n-th entry in a given list.As a financial analyst, the CHOOSE function is very useful when creatingscenarios in financial models. By using the CHOOSE formula, an analyst is ableto select between 5 difference scenarios (for example) that can flow throughthe entire model. Scenario analysis is an important part of building a robustfinancial model.Learn more, in CFI’s scenario and sensitivity analysis course.corporatefinanceinstitute.com124
The Corporate Finance Institute ExcelFormula=CHOOSE(index_num, value1, [value2], …)The formula uses the following arguments:1. Index_num (required argument) – It is an integer that specifies which valueargument is selected. Index_num must be a number between 1 and 254, ora formula or reference to a cell containing a number between 1 and 254.2. Value1, Value2 – Value1 is a required option but the rest are optional. It is alist of one or more values that we want to return a value from.Notes:1. If index_num is 1, CHOOSE returns value1; if it is 2, CHOOSE returns value2;and so on.2. Value1, value2 must be entered as individual values (or references toindividual cells containing values).3. If the argument index_num is a fraction, it is truncated to the lowestinteger before being used.4. If the argument index_num is an array, every value is evaluated whenCHOOSE is evaluated.5. The value arguments can be range references, as well as single values.How to use the CHOOSE Function in Excel?To understand the uses of the CHOOSE function, let’s consider an example:corporatefinanceinstitute.com125
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