What is the purpose of the IF function in Excel?

The purpose of the IF function in Excel is to perform a logical test and return different values based on whether the test evaluates to TRUE or FALSE. This function is incredibly powerful for decision-making within spreadsheets, as it allows users to create conditional statements that can guide further calculations or provide feedback based on specific criteria.

When using the IF function, you can specify three components: the logical test, the value you want to return if the test is TRUE, and the value to return if the test is FALSE. This capability enables users to implement complex logic directly within their worksheets without needing to manually assess data outcomes.

For example, you could use the IF function to evaluate whether a score is above a certain threshold, returning "Pass" if it is and "Fail" if it isn't. This functionality is essential for creating interactive and responsive spreadsheet applications that can adjust outputs based on data inputs. Thus, the correctness of the answer stems from the specific role of the IF function in enabling conditional logic in Excel.