This formula uses the named range "list" which is the range B5:B11.
The core of this formula is the SMALL function, which simply returns the nth smallest value in a list of values that correspond to row numbers. The row numbers have been "filtered" by the IF statement, which applies the logic for a match. Working from the inside out, IF compares all values in the named range "list" to the value in B5, which creates an array like this:
The "value if true" is a set of relative row numbers created by this code:
With a logical test that returns an array of results, the IF function acts as a filter – only row numbers that correspond to a match survive, the rest return FALSE. The result returned by IF looks like this:
The numbers 1, 5, and 7 correspond to the location of "red" in the list.
Finally, SMALL returns the nth smallest item in this list, ignoring FALSE values. In the example, F5 contains 2, so SMALL returns the 2nd smallest value: 5.
At the core, this formula is simply an INDEX formula that retrieves the value in an array at a given position. The value for n is supplied in column H, and all the "heavy" work that the formula does is to figure out the row from which to retrieve a...
The Excel SMALL function returns a numeric value based on its position in a list when sorted by value in ascending order. In other words, SMALL can return the "nth smallest" value (1st smallest value, 2nd smallest value, 3rd smallest...
The IF function runs a logical test and returns one value for a TRUE result, and another for a FALSE result. For example, to "pass" scores above 70: =IF(A1>70,"Pass","Fail"). More than one condition can be tested by nesting IF functions. The IF...
The Excel ROW function returns the row number for a reference. For example, ROW(C5) returns 5, since C5 is the fifth row in the spreadsheet. When no reference is provided, ROW returns the row number of the cell which contains the formula.
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