The RANK function returns the rank of a number in a list of numbers.
1. If the third argument is omitted (or 0), Excel ranks the largest number first, second largest number second, etc.
Note: when we drag the RANK function down, the absolute reference ($A$1:$A$9) stays the same, while the relative reference (A1) changes to A2, A3, A4, etc.
2. If the third argument is 1, Excel ranks the smallest number first, second smallest number second, etc.
3. Use the RANK.AVG function to return the average rank if more than one number has the same rank.