It serves as an "AND" condition. In the formula,
(A2:A500="5/27/2005")
and
(E2:E500="5098")
return arrays of TRUE or FALSE values, each indicating the result
of the comparison. So, for example, you'll get two arrays like
{TRUE, TRUE, FALSE, .....} and {FALSE, TRUE, TRUE, ....}
The multiplication operator * multiplies these two arrays
together; each element in the first array is multiplied by the
corresponding element in the second array, and the result is an
array of these products.
Since Excel treats TRUE as 1 and FALSE as 0, the resulting
product of the multiplication will be 1 (or TRUE) only when both
operands are TRUE (or 1).
So, using the example arrays above, the result of the
multiplication is
(0, 1, 0, ...)
--
Cordially,
Chip Pearson
Microsoft MVP - Excel
Pearson Software Consulting, LLC
www.cpearson.com