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Default Excel 2007 v 2003

I work in v2007 which has a number of new formulae including COUNTIFS and
AVERAGEIFS. I helped a student with some analytical data using these formulae
but she uses v2003 and the results were lost due to incompatability. I redid
the worksheet using relevant formulae which resulted in an enormous amount of
additional extraction required in order to get to the same answers. Are these
new formulae as powerful as they appear?
 
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