What is the function of the SUM formula in Excel?

The SUM formula in Excel is specifically designed to add together a range of numbers, making it one of the most commonly used functions in the application. When you use the SUM function, you simply input the range of cells containing the numeric values you want to total; Excel will then calculate and display the sum of those values. This function is particularly useful in financial statements, budgeting, and any other datasets where quick totals are required.

The other options describe different functions that do not pertain to the SUM formula: averaging, multiplying, and finding maximum values are handled by other functions such as AVERAGE, PRODUCT, and MAX, respectively. Therefore, the correct identification of the SUM function as a tool for addition highlights its primary role in data analysis and management within Excel.