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<p class=MsoNormal>Here is my proposed response to this defect report:<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoListParagraph style='text-indent:-.25in;mso-list:l2 level1 lfo3'><![if !supportLists]><span
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]>I agreed with almost all of the textual changes
that Francis/BSI suggested, and have removed references to ※iterative search
technique§ from the standard. <o:p></o:p></p>
<p class=MsoListParagraph style='text-indent:-.25in;mso-list:l2 level1 lfo3'><![if !supportLists]><span
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]>After experimenting with existing spreadsheets,
we＊ll break backward compatibility of the IRR function if we change #NUM to
#N/A as requested. As such, I have <i>not</i> included that change in the
list of textual changes below.<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<h1 style='margin-left:0in;text-indent:0in;mso-list:none'><a
name="_Toc224925898"></a><a name="_Toc231548167"><b><span style='color:#365F91'>DR
09-0144</span> 〞 SML, Formulas: Various functions, iterative search technique</b></a><b><o:p></o:p></b></h1>
<p class=MsoNormal><b>Part 1, ∫18.17.7.28 will be updated as follows:<o:p></o:p></b></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal><span class=Emphasisstrong>Syntax</span>:<o:p></o:p></p>
<p class=Grammar><span class=Terminal><span style='font-size:10.0pt;font-style:
normal'>BETAINV</span></span><span lang=EN-CA> </span><span
class=Terminal><span style='font-size:10.0pt;font-style:normal'>(</span></span><span
lang=EN-CA> probability </span><span class=Terminal><span
style='font-size:10.0pt;font-style:normal'>,</span></span><span lang=EN-CA>
alpha </span><span class=Terminal><span style='font-size:10.0pt;
font-style:normal'>,</span></span><span lang=EN-CA> beta </span><span
class=GrammarText><span lang=EN-CA style='font-style:normal'>[</span></span><span
lang=EN-CA> </span><span class=Terminal><span style='font-size:10.0pt;
font-style:normal'>,</span></span><span lang=EN-CA> </span><span
class=GrammarText><span lang=EN-CA style='font-style:normal'>[</span></span><span
lang=EN-CA> A </span><span class=GrammarText><span lang=EN-CA
style='font-style:normal'>]</span></span><span lang=EN-CA> </span><span
class=Terminal><span style='font-size:10.0pt;font-style:normal'>,</span></span><span
lang=EN-CA> </span><span class=GrammarText><span lang=EN-CA
style='font-style:normal'>[</span></span><span lang=EN-CA> B </span><span
class=GrammarText><span lang=EN-CA style='font-style:normal'>]</span></span><span
lang=EN-CA> </span><span class=GrammarText><span lang=EN-CA style='font-style:
normal'>]</span></span><span lang=EN-CA> </span><span class=Terminal><span
style='font-size:10.0pt;font-style:normal'>)</span></span><span lang=EN-CA><o:p></o:p></span></p>
<p class=MsoNormal><span class=Emphasisstrong>Description:</span> Computes the inverse
of the cumulative distribution function for a specified beta distribution.
Given a value for <span class=Production>probability</span>, <span
class=Codefragment>BETAINV</span> is used to seek for the value <span
class=Production>x</span> such that <span class=Codefragment>BETADIST(</span><span
class=Production>x</span>, <span class=Production>alpha</span><span
class=Codefragment>,</span> <span class=Production>beta</span><span
class=Codefragment>,</span> <span class=Production>A</span>, <span
class=Production>B</span><span class=Codefragment>)</span> = <span
class=Production>probability</span>. Thus, precision of <span
class=Codefragment>BETAINV</span> depends on precision of <span
class=Codefragment>BETADIST</span>. <span class=Codefragment><s><span
style='color:red'>BETAINV</span></s></span><s><span style='color:red'> uses an
iterative search technique.</span></s><o:p></o:p></p>
<p class=MsoNormal><b><o:p> </o:p></b></p>
<p class=MsoNormal><b>Part 1, ∫18.17.7.37 will be updated as follows:<o:p></o:p></b></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal><span class=Emphasisstrong>Return Type and Value: </span>number
每 The inverse of the one-tailed probability of the chi-squared distribution.<o:p></o:p></p>
<p class=MsoNormal>However, if<o:p></o:p></p>
<p class=MsoListBulletCxSpFirst><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>probability </span><span
lang=EN-CA>< 0 or </span><span class=Production>probability </span><span
lang=EN-CA>> 1, </span><span class=Codefragment><span lang=EN-CA>#NUM!</span></span><span
lang=EN-CA> is returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpMiddle><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>degrees-freedom</span><span
lang=EN-CA> < 1 or </span><span class=Production>degrees-freedom </span><span
lang=EN-CA>≡ 10<span class=Superscript>10</span>, </span><span
class=Codefragment><span lang=EN-CA>#NUM!</span></span><span lang=EN-CA> is
returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpLast><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><s><span lang=EN-CA style='color:red'>An
implementation uses an iterative search technique, and the search has not
converged after some implementation-defined number of iterations</span></s><u><span
lang=EN-CA style='color:blue'>the implementation determines that a return value
cannot be computed</span></u><span lang=EN-CA>, </span><span
class=Codefragment><span lang=EN-CA>#N/A</span></span><span lang=EN-CA> is
returned<o:p></o:p></span></p>
<p class=MsoNormal><b>Part 1, ∫18.17.7.121 will be updated as follows:<o:p></o:p></b></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal><span class=Emphasisstrong>Return Type and Value: </span>number
每 The inverse of the F probability distribution.<o:p></o:p></p>
<p class=MsoNormal>However, if<o:p></o:p></p>
<p class=MsoListBulletCxSpFirst><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>probability</span><span
lang=EN-CA> < 0 or </span><span class=Production>probability</span><span
lang=EN-CA> > 1, </span><span class=Codefragment><span lang=EN-CA>#NUM!</span></span><span
lang=EN-CA> is returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpMiddle><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>degrees-freedom-1</span><span
lang=EN-CA> < 1 or </span><span class=Production>degrees-freedom-1</span><span
lang=EN-CA> ≡ 10<span class=Superscript>10</span>, </span><span
class=Codefragment><span lang=EN-CA>#NUM!</span></span><span lang=EN-CA> is
returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpMiddle><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>degrees-freedom-2</span><span
lang=EN-CA> < 1 or </span><span class=Production>degrees-freedom-2</span><span
lang=EN-CA> ≡ 10<span class=Superscript>10</span>, </span><span
class=Codefragment><span lang=EN-CA>#NUM!</span></span><span lang=EN-CA> is
returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpLast><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><s><span lang=EN-CA style='color:red'>An
implementation uses an iterative search technique, and the search has not converged
after some implementation-defined number of iterations</span></s><u><span
lang=EN-CA style='color:blue'>the implementation determines that a return value
cannot be computed</span></u><span lang=EN-CA>, </span><span
class=Codefragment><span lang=EN-CA>#N/A</span></span><span lang=EN-CA> is
returned<o:p></o:p></span></p>
<p class=MsoNormal><b>Part 1, ∫18.17.7.132 will be updated as follows:<o:p></o:p></b></p>
<p class=MsoNormal><b><o:p> </o:p></b></p>
<p class=MsoNormal><span class=Emphasisstrong>Return Type and Value: </span>number
每 The inverse of the gamma distribution.<o:p></o:p></p>
<p class=MsoNormal>However, if<o:p></o:p></p>
<p class=MsoListBulletCxSpFirst><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>probability</span><span
lang=EN-CA> < 0 or </span><span class=Production>probability</span><span
lang=EN-CA> > 1, </span><span class=Codefragment><span lang=EN-CA>#NUM!</span></span><span
lang=EN-CA> is returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpMiddle><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>alpha</span><span
lang=EN-CA> ≒ 0 or </span><span class=Production>beta</span><span lang=EN-CA> ≒
0, </span><span class=Codefragment><span lang=EN-CA>#NUM!</span></span><span
lang=EN-CA> is returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpLast><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><s><span lang=EN-CA style='color:red'>An
implementation uses an iterative search technique, and the search has not
converged after some implementation-defined number of iterations</span></s><u><span
lang=EN-CA style='color:blue'>the implementation determines that a return value
cannot be computed</span></u><span lang=EN-CA>, </span><span
class=Codefragment><span lang=EN-CA>#N/A</span></span><span lang=EN-CA> is
returned.<o:p></o:p></span></p>
<p class=MsoNormal><b>Part 1, ∫18.17.7.230 will be updated as follows:<o:p></o:p></b></p>
<p class=MsoNormal><b><o:p> </o:p></b></p>
<p class=MsoNormal><span class=Emphasisstrong>Return Type and Value: </span>number
每 The inverse of the normal distribution for the specified mean and standard
deviation.<o:p></o:p></p>
<p class=MsoNormal>However, if<o:p></o:p></p>
<p class=MsoListBulletCxSpFirst><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>probability </span><span
lang=EN-CA>< 0 or if </span><span class=Production>probability </span><span
lang=EN-CA>> 1, </span><span class=Codefragment><span lang=EN-CA>#NUM!</span></span><span
lang=EN-CA> is returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpMiddle><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>standard-deviation </span><span
lang=EN-CA>≒ 0, </span><span class=Codefragment><span lang=EN-CA>#NUM!</span></span><span
lang=EN-CA> is returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpLast><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><s><span lang=EN-CA style='color:red'>An
implementation uses an iterative search technique, and the search has not
converged after some implementation-defined number of iterations</span></s><u><span
lang=EN-CA style='color:blue'>the implementation determines that a return value
cannot be computed</span></u><span lang=EN-CA>, </span><span
class=Codefragment><span lang=EN-CA>#N/A</span></span><span lang=EN-CA> is
returned.<o:p></o:p></span></p>
<p class=MsoNormal><b>Part 1, ∫18.17.7.232 will be updated as follows:<o:p></o:p></b></p>
<p class=MsoNormal><b><o:p> </o:p></b></p>
<p class=MsoNormal><span class=Emphasisstrong>Return Type and Value: </span>number
每 The inverse of the standard normal distribution.<o:p></o:p></p>
<p class=MsoNormal>However, if<o:p></o:p></p>
<p class=MsoListBulletCxSpFirst><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span class=Production>probability </span><span
lang=EN-CA>< 0 or if </span><span class=Production>probability </span><span
lang=EN-CA>> 1, </span><span class=Codefragment><span lang=EN-CA>#NUM!</span></span><span
lang=EN-CA> is returned.<o:p></o:p></span></p>
<p class=MsoListBulletCxSpLast><![if !supportLists]><span lang=EN-CA
style='font-family:Symbol'><span style='mso-list:Ignore'>﹞<span
style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><s><span lang=EN-CA style='color:red'>An
implementation uses an iterative search technique, and the search has not
converged after some implementation-defined number of iterations</span></s><u><span
lang=EN-CA style='color:blue'>the implementation determines that a return value
cannot be computed</span></u><span lang=EN-CA>, </span><span
class=Codefragment><span lang=EN-CA>#N/A</span></span><span lang=EN-CA> is
returned.<o:p></o:p></span></p>
<p class=MsoNormal><b>Part 1, ∫18.17.7.173 will be updated as follows:<o:p></o:p></b></p>
<p class=MsoNormal><b><o:p> </o:p></b></p>
<p class=MsoNormal>Return Type and Value: number 每 The internal rate of return
for a series of cash flows.<o:p></o:p></p>
<p class=MsoNormal>However, if <s><span style='color:red'>an implementation
uses an iterative search technique, and the calculation has not converged after
an implementation-defined number of iterations </span></s><u><span
style='color:blue'>the implementation determines that a return value cannot be
computed</span></u>, <span class=Codefragment>#NUM!</span> is returned.<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
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