Which statement describes how to insert the IF, COUNTIF, or SUM function into a cell? Use the Insert tab and select the appropriate function from the Functions group.
Type an = sign in the cell, followed by the name of the function and the relevant arguments.
Right-click the cell to access the context menu to insert the function.
Use the View tab and choose the correct function from the displayed list.

Type an = sign in the cell, followed by the name of the function and the relevant arguments.

Explanation:

Microsoft Excel is a software application or program designed and developed by Microsoft Inc., for analyzing and visualizing spreadsheet documents. There are different types of functions used in Microsoft Excel to perform specific tasks and these includes;

1. VLOOKUP function: it's an Excel function that avails end users the ability to lookup data in a table organized vertically. Thus, it's typically used for searching values in a column.

2. SUMIF function: it is an Excel function to sum cells that meet criteria such as text, dates and numbers. This function can be used with the following logical operators; <, >, and =.

3. COUNT function: it's an Excel function to find the total number of entries in a column. For example, to count the number of entries in B1:B15; COUNT(B2:B15).

4. IF function: runs a logical test and returns one value for a TRUE result, and another for a FALSE result. For example, to fail scores that are below 40; IF (A1 < 40, "Fail", "Pass").

5. HLOOKUP function: it's an Excel function that avails end users the ability to lookup data in a table organized horizontally. Thus, it's typically used for searching values in a column.

In Microsoft Excel, to insert the IF, COUNTIF, or SUM function into a cell, you should type an equal to (=) sign in the cell, followed by the name of the particular function and the relevant arguments.

For example, to use the SUMIF function, you should type; =SUMIF(A2:B5, "Peter", C1:C9).