STEP 1: Select sheet NAME USAGE SHEET2. Select cell range I2:I6 ​(FIGURE 1).

STEP 2: To use the Name Manager to define name, select the New button.

STEP 3: In the Name window, enter QTR_BONUS_2015 (FIGURE 2).

​Select the OK button.

STEP 4: ​Click on the sheet, NAME USAGE SHEET 1. Make cell D8 the active cell. Enter formula: =AVERAGE(QTR_BONUS_2015). You can also select it from the drop-down menu by double-clicking with mouse. (FIGURE 3) Press Enter.

The result is shown in FIGURE 4.

STEP 5: To delete the recently created names, QTR_SALES_2015 and  QTR_BONUS_2015, select the Formula tab, select Name Manager from the Defined Names section of the ribbon.
STEP 6: Hold down the CTRL key and select the second name so that both names are highlighted ​(FIGURE 5).
STEP 7: Select the Delete key.
STEP 8: You will see a delete confirmation dialog box, “Are you sure you want to delete the selected names?”
STEP 9: Select OK button. Both names have been deleted.
STEP 10: Select the Close button at the bottom.