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2
Objectives
• Boolean Values• Boolean Values• Logical Operators• Conditional Logic• Nested Functions
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Background Scenario
• Dun & Bradstreet® (D&B)– Widely used financial reporting services– Provides financial information about
corporations and institutions and extensive analyses on each company’s creditworthiness and payment history (PAYDEX® index)
• Create formulas by applying several credit approval indicator rules to each customer’s data
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Rule #1
Accept a customer who has a past due balance that is
less than 10% of this year’stotal sales
Is past due balance less than10% of this year’s total sales?
In Other Words:
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Rule #2
Accept a customer who has eithera composite credit appraisal value
of 1 or a PAYDEX score over 90
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Rule #2
Accept a customer who has eithera composite credit appraisal value
of 1 or a PAYDEX score over 90
2 conditions that bothhave a truth value
Reduce to one Truth value
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Boolean Logic Functions
AND Used to determine if all arguments are TRUE
OR Used to determine if either argument is TRUE
NOT Evaluates only one logical argument to determine if it is FALSE
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Rule #3
• Accept a customer who has all of the following:– Net worth of at least $500,000– Composite credit appraisal value of
2 or lower– PAYDEX score over 70– Stress risk class of 1
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IF Conditional
• IF function– Boolean logical function that returns different
values (TRUE or FALSE) depending on how the specified condition evaluates
– =IF(logical_test,value_if_true,value_if_false)
• Nested function (permitted by IF function)– Contains additional formulas and/or functions
as one or more of its arguments
• Provides flexibility of choosing between two different sets of criteria, and up to seven different levels of logical tests
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Nested IFs
Nesting IF functions, one inside the other, allows you to ask a question, then another question depending on the outcome of the first question, and so on