Suppose I have a bunch of cells with a drop-down list allow users to choose
between the folowing values:

pppp
ppp
pp
p
mp
mf
f
ff
fff
ffff

How do I write a function that will look through all the cells where someone
has chosen a value (all non-blank cells) and pull out the max and min value
where the "max" and "min" are based on the custom list above (i.e. "pppp" is
the smallest value possible and "ffff" is the largest value possible)?

I would like for Excel to do this automatically for the user, and update
itself as the data might change.

Is this possible?

Thanks for any information you can provide.