All language subtitles for 2. Looking Up Information using VLOOKUP (Approx Match)

In the previous lesson, we saw how we can use the look up with the exact match false argument on the

end to return results.

So in this lesson, we're going to look at the true argument, the approximate matching option.

So what is the difference between these two?

Well, you would use approximate matching for your V lookup.

If you'll look up, value doesn't exist exactly in the table.

So what do I mean by that?

Well, if we take a look at the data that we have on this worksheet in this first table, I have effectively

some salary bands and this is showing me the low end and the high end of this band and then the tax

rate that applies to each of those bands.

And what I want to do in these second table is I want to look up the salary and I want it to return

the marginal tax rate for that salary.

Now, if we take a look at the first one here, 55000 does 55000 exist exactly in this table over here?

Well, if I take a look at my values, I can see, no, I don't have exactly the value 55000 listed

here.

This annual salary falls in this bracket just here.

So if I was to do an exact match, it's not going to find it because the exact match argument, that

false argument exactly matches the look up value in the table.

So for this, I'm going to need to use the approximate matching option, which is the true argument

on the end.

Now I'm going to do exactly what I did in the last lesson, and I'm going to create a named range for

my table simply to make this whole process a lot easier.

So let's select the table in the name box.

We're going to say tax underscore, right and enter.

So now I can construct my villa up, so I'm going to type N equals v look up, my look up value is going

to be the annual salary.

The table array, well, I can the f three key and there is tax rates clicking okay.

The column index numbers are what do I want to return here?

Well, I'm looking for the tax rate, which is column number three, and this time we want to do an

approximate match.

So we want the true argument on the end.

Alternatively, we could just type a one.

Let's close the bracket and hit enter.

And if I just double check this table, I can see that yes, 55000 falls in this range just here, and

the tax rate is 25 percent.

Let's do that one more time just to practice the look up, look up value.

Is Cell E6 table array, we can press three.

Alternatively, you can just start to type in your name range and it will appear in the list underneath

double click to select Comma.

We want the third column and we're doing an approximate match one on the end.

This time close the bracket.

Enter, and let's double check to make sure this is correct.

This salary falls in this bracket up here, and the marginal tax rate is 10 percent.

And just to show you how you can do this using the functions dialog box, if that is your preferred

method, let's click on the Effects button.

I'm going to search for V.

Look up.

Let's click Go.

There it is.

Double click to select.

And now we can complete our arguments in this way.

So the look up value for the final one is sell a table array.

I can press the f three key and select tax rates.

Column index number is three and the range lookup is true or a one on the end there.

Let's click on OK.

To complete that final one.

And if I double check this while 90000 is going to fall in this range here and that has a tax rate of

28 percent.

So that is really the only difference between VLA Cup exact and filler cap approximate.

It all relates to the lookup value and whether that look up value exists exactly in the table or if

it doesn't.