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Named Ranges in Excel

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A NamedRange is way to describe your formulas.  So you do not have to have this in a cell:
=SUM(B2:B4)
You can replace the cell references between the round brackets.  You replace them with a descriptive name, all of your own.  So you could have this, instead:
=SUM(Monthly_Totals)
Behind the Monthly_Totals, though, Excel is hiding the cell references.  We will see how it works, now.

Open up Excel and create the spreadsheet below:

The formula is in cell B5 and just adds up the monthly totals in the B column.
Define a Name
Setting up a NamedRange is a two-step process.  You first Define the Name, and then you Apply it.  To Define your name, do this (make sure you have the formula in cell B5):
Highlight the cells B2 to B4 (Not B5), then click the Formulas menu. Locate the Named cells panel in Excel 2007.  In Excel 2010 and 2013, locate the Defined Names panel instead. Click Name a Range in Excel 2007 and Define Name in Excel 2010 and 2013.

From the Name a Range menu, click Name a Range (…