Excel - Return a specific text value, based on values of 2 other cells

[SLGiguere]

Hello, I would be grateful if someone could help with a formula to accomplish the following:

Based on combinations of the text values in cells A2 and B2, I would like C2 to return a specific text value.  Example:  If Level of Influence = Low and Level of Impact = Low, Level of Engagement Needed = Monitor.

[#2]

@SLGiguere 

=IF(AND(A2="Low",B2="Low"),"Monitor","")

This formula works in my sheet.

[#3]

@SLGiguere 

Your sample is translated literally

=IF( AND( A2= "Low", B2 = "Low" ), "Monitor", "have no idea what to be in other cases")

[#4]

@SLGiguere 

Create a lookup table like this:

Let's say the above is on Sheet2.

On the sheet with the Level of Influence in A2 and the Level of Impact in B2, enter the following formula in C2:

=INDEX(Sheet2!$C$3:$F$6,MATCH(A2,Sheet2!$B$3:$B$6,0),MATCH(B2,Sheet2!$C$2:$F$2,0))

[#5]

Thanks very much for everyone's quick help!

[#6]

@SLGiguere 

I couldn't resist this.  I love @Hans Vogelaar 's little table, so I created an unusual formula to exploit it!

= XLOOKUP(row,    rowHeader,    action)
  XLOOKUP(column, columnHeader, action)

The first line picks out a row; the second a column.  Putting them together returns the intersection of the two ranges.