Whenever we are handling numbers, values, ranges, and figures there is always the need to identify the minimum value of all the values and the maximum values of all the values. We get the minimum or maximum values in any given set of data to be able to find the range of the data.
In an excel sheet when we record data, we also have the urgency to get its minimum and its maximum with this you can find the mean, mode, and median of the data set. You can find the range of the data you just recorded, for example, is it relying on the great side or the small side secondly is it occurring mostly at the minimum or the maximum.
For us to calculate the minimum and maximum values in any given excel sheet there are several steps that we can follow to achieve the correct result. These steps are discussed below in detail.
You can use MIN and MAX in the same formula if you want to convert the lowest or the highest value to the minimum or maximum
Steps to use MIN and MAX in the same formula
1. Let's take the following data as an example. We want to make sure that every employee earns $70 and above regardless of their sales. So we can use the MIN MAX to regulate the earnings.
2. Create reference cells for MIN and MAX earnings.
3. Now let us regulate the earnings to a minimum of 70 and a maximum of 100. Enter the following formula in cell C5 =MAX(MIN(B2,$B$11),$B$10)
4. Now drag the formula to the rest of the cells. As you can see in the picture below the earnings have been converted from 20 to 70 automatically using the MIN and MAX functions in the same formula
How to use MIN and Max formula Separately
To get the maximum and minimum values, you need to come up with a data set containing values in numeric form. Open a blank excel sheet and record your data in it. For example, you can use one column for job code and the other column for salary.
Now that the excel sheet has been created, we are now going to get the minimum and maximum values from the data we have. To do this, there are a couple of formulas involved. To find the value of the minimum figure we are going to use =MIN (B2: B6). This formula will output the smallest value of all in the data set above.
To find the maximum value in the data above, we are going to use the formula =MAX (b2: B6). Again this formula will display the largest value of all in the data set above.
These two formulas will be written on the formula bar or the result cell one after the other to avoid confusion. Appropriate usage of the two formulas will display the correct values from the data set we already have created.