I am in need of some guidance on a formula. I have two columns that I am comparing against each other - basically determining the dollar difference between the two and then the % difference that amounts to. Once that is figured out, I want to grade the resulting % as pass or fail, but I want to do it as a range. Here is an example:
A) Final Estimate: $10,000.00
B) Preliminary Estimate: $9,000.00
C) Difference in $: ($1,000.00)
D) Difference in %: (10%)
Here is where I need a formula:
IF the result of D is within a range of 10% under to 10% over the Final Estimate then the grade would be “Pass”. IF the result is either more than 10% below or over 10% above the Final Estimate, then the result is “Fail”. So I want to allow a spread of 10% each way off of matching the numbers as allowable.