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Heat Map in Excel is used to show data in different color patterns. In Heat Map, data is shown in a different color pattern to see which data point is below the limit and which is above the limit. In addition, we can use two or more two colors to see the data pattern.

This helps in judging whether the data target is achieved or not.

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How to Create a Heat Map in Excel?Let’s understand how to Create a Heat Map in Excel by using some examples.

You can download this Heat Map Excel Template here – Heat Map Excel Template

Example #1Here we got the sales data of some part numbers. Where we have the sales numbers in Columns G and H for two months. Now we want to apply Heat maps to the data shown below.

For that, first, select both columns, G and H. Now go to the Home menu and select Conditional Formatting, as shown below.

Once we do that, we will get a drop-down menu list, as shown below. Now from Color Scales, select any color pattern. We have selected the second option, the Red-Yellow-Green color pattern, as shown below.

Once we do that, we will see the heat pattern for all selected color scales, as shown below. This shows that the value less than 50 is in green color shades. The mid-value, near to 50, is in yellow shades, and the value, near to 100, is in red shades.

Values closer to the limit have dark shades, and the values far from the limit have light shades. Let’s see a small patch of data and measure the different color scale values, as shown below.

So this is how the color scaling can be done for Heat maps in any data. We can choose different color scaling as well as per our color choice.

Example #2

For the selected data set, let’s create a new rule for the heat map. We can create a new rule or go ahead with existing rules. As we can see, in Edit the Rule Description box, a Format Style tab is available with a drop-down button. Select the 3 Color Scale as shown below.

Once we do that, we will see the 3 different color scales with a value range, as shown below. Here, all 3 colors have the default value set in them.

Note: We can change the color from the below color tab and check the preview for the color scaling.

As we can see above, with the help of selected color scaling, we got the Heat Map created, which shows higher the data, the dark will be the red color, and the lower the data, the more light will be the green color. And Midpoint data is also showing the color change concerning the defined or selected value range. Here for the selected Midpoint value 50, data is changing color to and fro.

Pros

For a huge set of data where applying a filter will not give the actual picture of data changes. If we create Heat Map, we can see the change in value without applying the filters.

For the data where we need to see the area (Region, Country, City, etc.) wise changes, in this case, using Heat Map gives high and safe points in the selected color scale.

It is always recommended to use Heat Map when the data size is huge and the data pattern fluctuates at some specific points.

ConsThings to Remember About Heat Map in Excel

Always clear the conditional formatting rule once its use is done. Or else save the rule so that it can be used later.

Choose color scales with Heat pattern that are easy to show and measure.

Measure the range before selecting, and fix the scaling points so that colors and data points can be fixed above and below those values.

Recommended ArticlesThis has been a guide to Heat Map in Excel. Here we discussed How to create Heat Map, practical examples, and a downloadable Excel template. You can also go through our other suggested articles–

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## How To Create Custom Templates In Microsoft Excel? – Webnots

Microsoft Excel is one of the most popular data processing applications for Windows users. Even you can use it on Mac instead of the Apple’s Numbers app. Sometimes, you may need to frequently prepare same Excel worksheet with different set of data. In such a case, Excel allows you to create a template and reuse instead of creating a new file each time. In this article, we will explain how to create a custom template in Microsoft Excel and save time.

Related: How to use Mail Merge in Word and Excel?

Why to Create a Template in Excel?Depending up on your need, there are many reasons to make use of templates in Excel.

Teachers can create a student’s mark sheet template and reuse the same template for filling marks during different exams.

Salespeople can create a template for keeping track of their customers and revenue.

Small companies can maintain templates for invoices, payment, inventory, etc.

Many users copy paste the previous workbook and modify the data when they wanted to reuse the same template. This can easily lead to mistakes or confusion when processing large amount of data. Therefore, you can create an empty or skeleton template with formulas and use it error free. In addition, you can also use templates for creating documentation or tutorials that you want to show in Excel worksheet instead of Microsoft Word document.

Templates in Microsoft ExcelIn this article, we will discuss Microsoft Excel app that comes as part of Microsoft 365 subscription. However, you can follow the similar process when using independent Excel app. Whether you use Windows or Mac, Excel offers two ways of using templates:

Download and use predefined templates from Microsoft

Create your custom template

Use online templates in Excel

1. Using Predefined Microsoft TemplatesMicrosoft 365 subscription comes with large number of inbuilt templates. We recommend using these templates since they can save huge amount of your time.

Open Microsoft Excel and when you are in the backstage view, you will see few available templates in “New” section.

Download Existing Template

After successful download, the template will open and you can start editing the content.

View Additional Excel Templates

Again, the list does not contain all templates and you can use the search box to find your favorite templates from Microsoft. For example, search for “calendar” to see more than fifty different templates which are not shown before.

View Calendar Templates

You can download any calendar template and update the content using inbuilt formulas. For example, after downloading the “Phases of the moon calendar”, it will suggest you with some help for changing the year. You can change any year between 2023 to 2030 and get the moon phases updated as per the calculation logic in the “Moon Phase Data” worksheet.

Change Year to Update Template Content

Therefore, you can simply change the year and reuse the template without making any data change. Similarly, you can download invoice, budget, and personal planning templates and reuse to save huge time.

After making changes, make sure to save the file to local computer or OneDrive. You can save the file as normal Excel workbook format (.xlsx) or as Excel template format (.xltx). We recommend saving in Excel template format so that you can reuse when needed as a template without downloading again from Microsoft.

Related: How to insert Excel tables in Word documents?

2. Creating Custom Templates in ExcelThough predefined templates are useful, you can also create a custom template as per your requirement. This will be a one-time task and you can reuse the template whenever needed. This is recommended when you have own style guide for your company to use custom fonts and styles that are not part of default templates.

Open a blank Excel worksheet and create your own template. Alternatively, you can also modify any existing templates from Microsoft. Let us create a company invoice template as shown below.

3. Using Online Excel TemplatesOnline Office Templates

Login to your Microsoft account used for purchasing the subscription and download any template you like.

Download Premium Excel Templates from Office Website

After successful download, you will see a notification showing file name with .xltx extension.

Paste Template in Custom Templates Folder

Reusing Templates in Microsoft ExcelThere are two ways to use Excel template file.

Creating Copies from TemplatesThis is like how you have created a template file copied from the Microsoft templates. You can reuse the custom or Microsoft templates and save as a new Excel file.

When you open Excel app, it will show a new “Personal” tab containing all your saved templates.

Personal Templates

Open your template file and start editing the content.

Finally save it as a new Excel file and send in email or share with your colleagues.

Inserting Templates in Another Excel FileSometimes you may also need to insert a template inside another Excel file as a new sheet.

## How To Create And Ring A Sound Alarm In Microsoft Excel

Microsoft Excel includes several built-in tools that allow users to automate conditional formatting (like changing the color of a cell) depending on whether specific conditions are met.

But many people don’t realize it’s possible to make Excel play a sound using Microsoft’s Visual Basic for Applications (VBA). This Excel tutorial will explain how to sound an alarm in Excel when a condition is met.

Table of Contents

How to Ring an Alarm in ExcelTwo steps are involved in getting Excel to play a sound based on a particular trigger. First, you must add custom code enabling Excel to play the sound. Then, you need to tell Excel what event or value will trigger the sound.

To do this, you must create a new rule using an Excel VBA macro. This sounds complicated, but don’t worry—all you need to do is copy and paste the code below and then change some basic parameters.

How to Create an Alarm in ExcelPress

Alt

+

F11

to open the pop-up

Microsoft Visual Basic for Applications

window.

Enter the following code:

Function MakeABeep() as String

Beep

MakeABeep = “”

End Function

In the

Save as Type

drop-down menu, select

Excel

Macro-Enabled

Workbook

.

In any cell, type “=MakeABeep()” and press

Enter

. If you hear a system sound, your code has worked, and it’s time to move on to the next step.

How to Trigger the Alarm in ExcelNext, you need to add conditional formatting to the cell you would like to play a sound upon a specific event. This will depend on what you want the trigger to be, so you might need to know how to use the various Excel formulas to make it work exactly as planned.

Here’s a basic example showing how to get cell A1 to play a sound if it reaches 100:

Select an empty cell in your Excel worksheet.

When the A1 cell value reaches 101, a system sound will play.

How to Get Excel to Play a Custom SoundYou can get Excel to play multiple custom sounds rather than relying on the single system sound. This way, you can set up multiple alarms to ring when different conditions are met.

Open your

Excel

file.

Press

Alt

+ F11

to open Microsoft VBA.

In the dialog box, type:

#If Win64 Then

Private Declare PtrSafe Function PlaySound Lib “winmm.dll” _

Alias “PlaySoundA” (ByVal lpszName As String, _

ByVal hModule As LongPtr, ByVal dwFlags As Long) As Boolean

#Else

Private Declare Function PlaySound Lib “winmm.dll” _

Alias “PlaySoundA” (ByVal lpszName As String, _

ByVal hModule As Long, ByVal dwFlags As Long) As Boolean

#End If

Const SND_SYNC = &H0

Const SND_ASYNC = &H1

Const SND_FILENAME = &H20000

Function AlarmSound() As String

0, SND_ASYNC Or SND_FILENAME)

AlarmSound = “”

End Function

Press

Ctrl

+ S

to save the file.

In the

Save as Type

drop-down list, select

Excel

Macro-Enabled

Workbook

.

Note: In this template code, “AlarmSound” was used instead of “MakeABeep.” Both of these can be written as whatever you would like. For example, if you wanted multiple alarms to ring for different conditions, you could use “Alarm1,” “Alarm2,” and so on.

What Kind of Alarms Can You Create in Excel?Here are a few examples of data conditions that you can tell Excel to play an alarm for:

If the value is equal to, greater than, lesser than, or between another value(s)

If the cell is a duplicate

If the cell refers to a particular date (like a due date or expiration date)

If the value is in a specific percentile (for example, the top 10% or above average)

If the cell is a particular color—useful when you have previous conditional formatting rules set up

Data Management Has Never Been EasierMicrosoft Office’s Excel is one of the most powerful data validation and analysis tools on the market and has been for a long time. Whether you want your Excel workbook to display your data in an easy-to-understand manner or format cells to notify you when conditions are met, Excel has the tools for you.

## How To Calculate Variance In Excel

So you’ve been asked to calculate variance using Excel, but you aren’t sure what that means or how to do it. Don’t worry, it’s an easy concept and even easier process. You’ll be a variance pro in no time!

What Is Variance?“Variance” is a way to measure the average distance from the mean. The “mean” is the sum of all values in a dataset divided by the number of values. Variance gives us an idea of whether the values in that data set tend, on average, to stick uniformly to the mean or scatter all over the place.

Table of Contents

Mathematically, variance isn’t that complex:

Calculate the mean of a set of values. To calculate the mean, take the sum of all the values divided by the number of values.

Take every value in your set and subtract it from the mean.

Square the resulting values (to cancel out negative numbers).

Add all the squared values together.

Calculate the mean of the squared values to get the variance.

So as you can see, it’s not a hard value to calculate. However, if you have hundreds or thousands of values, it would take forever to do manually. So it’s a good thing that Excel can automate the process!

What Do You Use Variance For?Variance by itself has a number of uses. From a purely statistical perspective, it’s a good shorthand way to express how spread out a set of data is. Investors use variance to estimate the risk of a given investment.

For example, by taking a stock’s value over a period of time and calculating its variance, you’ll get a good idea of its volatility in the past. Under the assumption that the past predicts the future, it would mean that something with low variance is safer and more predictable.

You can also compare the variances of something across different time periods. This can help detect when another hidden factor is influencing something, changing its variance.

Variance is also strongly-related to another statistic known as the standard deviation. Remember that the values used to calculate variance are squared. This means that variance is not expressed in the same unit of the original value. The standard deviation requires taking the square root of variance to return the value to its original unit. So if the data was in kilograms then the standard deviation is as well.

Choosing Between Population and Sample VarianceThere are two subtypes of variance with slightly different formulas in Excel. Which one you should choose depends on your data. If your data includes the entire “population” then you should use population variance. In this case “population” means that you have every value for every member of the target population group.

For example, if you’re looking at the weight of left-handed people, then the population includes every individual on Earth who’s left-handed. If you’ve weighed them all, you’d use population variance.

Of course, in real life we usually settle for a smaller sample from a larger population. In which case you’d use sample variance. Population variance is still practical with smaller populations. For example, a company may have a few hundred or few thousand employees with data on each employee. They represent a “population” in the statistical sense.

Choosing the Right Variance FormulaThere are three sample variance formulas and three population variance formulas in Excel:

VAR, VAR.S and VARA for sample variance.

VARP, VAR.P and VARPA for population variance.

That leaves VAR.S and VAR.P, which are for calculating the variance of a set of numerical values and VARA and VARPA, which include text strings.

VARA and VARPA will convert any text string to the numerical value 0, with the exception of “TRUE” and “FALSE”. These are converted to 1 and 0 respectively.

The biggest difference is that VAR.S and VAR.P skip over any non-numerical values. This excludes those cases from the total number of values, which means the mean value will be different, because you’re dividing by a smaller number of cases to get the mean.

How to Calculate Variance in ExcelAll you need to calculate variance in Excel is a set of values. We’re going to use VAR.S in the example below, but the formula and methods are exactly the same regardless of which variance formula you use:

Assuming you have a range or discrete set of values ready, select the empty cell of your choice.

In the formula field, type =VAR.S(XX:YY) where the X and Y values are replaced by the first and last cell numbers of the range.

Press Enter to complete the calculation.

Alternatively, you can specify specific values, in which case the formula looks like =VAR.S(1,2,3,4). With the numbers replaced with whatever you need to calculate the variance of. You can enter up to 254 values manually like this, but unless you only have a handful of values it’s almost always better to enter your data in a cell range and then use the cell range version of the formula discussed above.

You Can Excel at, Er, ExcelCalculating variance is a useful trick to know for anyone who needs to do some statistical work in Excel. But if any of the Excel terminology we used in this article was confusing, consider checking out Microsoft Excel Basics Tutorial – Learning How to Use Excel.

If, on the other hand, you’re ready for more, check out Add a Linear Regression Trendline to an Excel Scatter Plot so you can visualize variance or any other aspect of your data set in relation to the arithmetic mean.

## How To Calculate Irr In Excel

Last Updated on September 2, 2023

IRR or the Internal Rate of Return calculates a series of cash flows. This is assuming there are equal-sized periods of payment.

Today we’ll look at how to calculate IRR and how to interpret the results.

1

How To Calculate IRR

There are three ways to calculate IRR. We recommend using formulas as doing manual calculations can incur human error and be time-consuming.

This is why you are using Excel in the first place so you may as well make use of its functionality!

Using Excel, the formulas you will be using are IRR, XIRR, and MIRR.

In our example, the first column represents Year, the second column represents the Date Of Payment, and the third column represents Payment.

Step

1

IRRStarting with IRR and using our sample table from above, the IRR formula you would use would be “=IRR((C2:C10,.1)*12,” which will give an internal rate of return.

In certain examples where the period of time is not going to be equal, i.e. when you use months in which some have 31 days, whilst others have 30 days or less, the monthly periods are not going to be exactly the same in length.

This means that the IRR is going to return a somewhat incorrect result. Add this over multiple months, i.e. a year and you can expect this to be consistent.

Step

2

XIRRIf we look at Excel’s XIRR function, we will be able to calculate a more accurate rate of return. This is because it will take into consideration a different sized time period.

In order to use this functionality, you will need to apply a cash flow amount and a specific date on which those payments are going to be made. Hence our second column is; Date Of Payment.

So in our example from above, if we wanted to calculate using XIRR we would use “=XIRR(C2:C10,B2:B10,.1)” which would yield an internal rate of return.

Step

3

MIRRFinally, Excel’s IRR function, which stands for modified internal rate of return, will work similarly to the IRR function, although this function will take the cost of borrowing the initial investment funds into consideration.

It will also use the compounded interest which was earned by reinvesting wash cash flow.

What makes the MIRR function so useful is that it has enough flexibility to accommodate separate interest rates, concerning borrowing and investing.

As compound interest is calculated, the internal rate of return is going to be different from those of the original internal rate of return, but also the XIRR function.

Taking into consideration our example and that C14 represents Financing Rate and C15 represents Reinvestment Rate, the formula for MIRR is “=MIRR(C2:C10,C14,C15)*12” for our final internal rate of return.

Which Is Best? What Is The Difference Between IRR And NPV?The one major difference is that NPV is an actual numerical amount, and IRR is simply the interest yield which is calculated as a percentage expected from an investment.

In terms of investors, they will typically go with an IRR that is greater than the cost of the capital investment.

Although this could increase the risk of return on investment greater than a weighted average cost of capital.

Final ThoughtsThose are the three methods for calculating IRR in Excel. Use them all and you will have the best range of results.

## How To Create Packages In Java?

Introduction to Java Packages

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Working of Packages

Directories mirror packages; now, questions are how Java runtime knows where to look for the packages the user has created.

By default, java runtime uses the current work directory as its start point, and your user created a package in a sub-directory to the leading directory; it will be found.

Another way is to specify the directory path by setting the CLASSPATH environment variable.

And the last way is to use the CLASSPATH option with Java and javac to specify the path to the classes.

The java compiler must always be aware of the location of a base directory for locating the classes; for this reason, we need to set environment variables in the system.

If we take an example of two packages awtand java.awt.event, the latter is a sub-package. Hence the directory structure of later shall contain the event directory inside awt, “$BASE_DIRjavaawt” is the address for the parent package, and “$BASE_DIRjavaawtevent” is the address for the sub-package.

Types of Packages

Java offers the flexibility to use built-in Java packages or user-created packages based on the use case.

The built-in packages are always crucial while coding, as they offer a lot; the chúng tôi file carries multiple functionality definitions, which appear in the java.util.* like packages.

Now let us see built-in and user-defined packages in detail –

1. Built-in PackagesBuilt-in packages contain a large number of Java classes, and it contains the following packages –

lang – This package automatically imports and encapsulates the primary classes, including the Object class.

Utilise – this is a crucial package and contains many classes related to collections like ArrayList, HashMap, etc. All the data structure implementations are in this class, and you need to use them by incorporating them abstractly.

This package is where the input-output stream handling and processing-related classes are placed. Some examples of such classes include InputStreamReader, FileReader, and so on.

net – This contains the classes used for performing certain networking-related operations; the example classes are Socket and SocketAddress.

beans – Contains classes related to bean development and components based on Java beans architecture.

2. User-Defined Packages

A user always has the privilege to enclose his created classes into some package; the user can only define that package’s name and directory structure in his custom way.

When a package is not assigned to any class, programmers place it in the default package.

package com.supplychains class SupplyChainManagement { public void getPrompt() { System.out.println(“Welcome to SCM”); } }Other classes can now access this class by simply importing the “com.supplychains” package. Once the package is imported, you can access the class “SupplyChainManagement” and its member functions and variables.

How to Create Packages in Java?First, you should have a class; let us consider only the abovementioned class structure.

package com.supplychains class SupplyChainManagement { public void getPrompt() { System.out.println(“Welcome to SCM”); } }

Now compile this file with a javac compiler, which can be done by writing javac SupplyChainManagement.java; this will create a .class file in the same directory.

Now we can use the command, “javac -d. SupplyChainManagement.java”, this command will result in package formation, now directory structure is a thing we have to be keen about; the “.” placed after -d in the above command represents the current working directory. The program will create a folder in the selected directory, form a package within that folder, and place the class file created in Step 2 within this package.

The next step is to compile the package; this can be done with the following command –

“javac -d .. SupplyChainManagement.java. “.. represents the parent directory (like C drive or D drive).

Hence, you can organize and bundle multiple classes in a directory structure, ensuring you can only access them in the corresponding order.

Now you need to use an import statement to incorporate this package in any Java classes; note that Java runtime will refer to it concerning the path set in the environment variable, which contains the root directory only.

ConclusionHence, we read a little about packages in Java, their creation, their working, and how we can create and import our packages from anywhere to any other classes. Packages can encapsulate the interfaces and classes. A wide variety of built-in packages are already available to exploit the data structure and algorithms; Java provides a wide variety and supports multithreading through multiple concurrency packages.

Recommended ArticlesThis is a guide to Java Packages. Here we discuss the introduction, working, and types of the package, which include built-in and user-defined packages and the creation of packages in Java. You may also look at the following articles to learn more –

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