Run formula based on value of another column

[rsiem1]

I am using Excel 2016. I have 2 columns: Method (Column A) and Price (Column B).
The Method column has 2 possible values: Flatbed or Van. The Price column has decimal values.
I want to run the formula: =20+80*RAND() to generate random decimal numbers into the Price column (Column B) based on if the value in Method (Column A) is equal to the text/value of "Flatbed".
I have tried using the IF function of IF( =A2="Flatbed",=B2=20+80*RAND(), 0 ) but that didn't work.

What is the method or formula that will run the =20+80*RAND() function to populate the Price column if the Method column = Flatbed ?

Thanks.

 

[Osvaldo Palmeiro]

See if this could help.

In B2 and drag down if needed.

=IF(A2="Flatbed",20+80*RAND(),"")

 

[rsiem1]

See if this could help.

In B2 and drag down if needed.

=IF(A2="Flatbed",20+80*RAND(),"")

Thank you very much - this formula worked correctly!

FYI - Because I have 2 possible rates Van and Flatbed I needed to have random generated rates for both but separate series values (i.e. Flatbed rates under (<) $ 100 and Van rates more than(>) $ 100. I played around with your formula and got the following to work:

=IF(A2="Van",90+200*RAND(),10+80*RAND() )

Question: Is it possible to have a formula similar to above that would have 3 clauses: one random rates for Van, one random rates for Flatbed and 0 if neither is true?
Something like =IF(A2="Van",100+200*RAND(),IF (A2="Flatebed",100+80*RAND(), 0 )

pseudo code would be IF A2= "Van" then x, IF A2="Flatbed" then y, IF not "Van" or "Flatbed then z (i.e. not true)

Thanks.

 

[Osvaldo Palmeiro]

Something like =IF(A2="Van",100+200*RAND(),IF (A2="Flatebed",100+80*RAND(), 0 )

Very close to target

=IF(A2="Van",100+200*RAND(),IF(A2="Flatbed",100+80*RAND(),0))

 

[rsiem1]

Thanks for the newest formula. Tried it and it works for looking at both the Van and Flatbed rates.

It appears that you can have multiple IF statements in a formula - is there a limit to how many are allowed (3, 4, 5) ?