IntermediateStatistical Functions
Measure the spread, ignoring the extremes
Compare the second-best and second-worst weeks to get a fairer range.
LARGE · SMALL
7 min25 points
Find the second-lowest quote with SMALL
The situation
Harbor Supply is re-tendering its pallet contract and seven suppliers have quoted. Procurement policy is to shortlist the second-lowest bid, not the lowest — the cheapest quote is usually the one that has misread the spec and will come back with change orders.
A1
fx
| Row number | A | B | C | D | E |
|---|---|---|---|---|---|
| 1 | Supplier | State | Quote | ||
| 2 | Ridgeline Pallet | OH | $12,400 | ||
| 3 | Cortez Timber | TX | $9,850 | ||
| 4 | Bell Harbor Supply | MA | $11,200 | ||
| 5 | Two Rivers Crating | MO | $8,990 | ||
| 6 | Kestrel Industrial | PA | $13,750 | ||
| 7 | Anders Woodworks | MI | $10,400 | ||
| 8 | Palmetto Pallet Co | SC | $9,200 | ||
| 9 | |||||
| 10 | Second-lowest quote | ||||
| 11 |
Functions in this exercise
- SMALL — Returns the nth smallest value in a range.
Who this is for
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