db wrote...
You have to put the dollar sign in front of the row number as well if it is
the row number you don't want to change, i.e.:

=PRODUCT($L$8:$M$5)

This formula will always reference L8 and M5 no matter which cell you paste
this formula into.
....

You either don't read OP carefully or you don't have a clue how to
answer this question. Did you miss this sentence in the OP?

"(Remember to use an Absolute Reference to cell M5 and a relative
reference to L8.)"

How does your formula leave L8 a relative reference? Do you have a clue
what relative and absolute references are? There's no evidence in your
responses that you do.

Both the OP's formula and your formula are WRONG. PRODUCT(L8:M5) will
automatically be changed to PRODUCT(L5:M8) on entry, and that's the
product of all cells in the range L5:M8, so cells L5, L6, L7, L8, M5,
M6, M7 and M8. What the OP needs is the product of ONLY cells M5 and
L8. It'd be valid to use PRODUCT with both cells as *SEPARATE*
arguments, so a comma between them rather than a colon. However, better
still would be using the multiplication operator, *, rather than the
PRODUCT function.