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Default Search and replace

How do I assign a numeric value to text entries on my data sheet?
For example, several codes are EX, VG, U, DS, FR, A and their respective
numeric values are 5, 4, 3, 2, 1, 0. Wherever there's a "DS" on the data
sheet, I'd like the number "2" substituted. I understand this was a "Search
and replace" command in Excel 2003 (which I never used)...
 
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