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In this video tutorial, Eddie the Magic Monk demonstrates how to use VLOOKUP in Microsoft Excel 2016. He first creates a table to convert letter grades to numerical values. By typing in grades A plus to E minus, and assigning numerical values to each grade, he is able to fill down the table. He then uses the VLOOKUP formula to find the numerical grade for students John, Philip, and Eddie, based on the letter grades they received. VLOOKUP is a function that looks up a value in a table and returns a corresponding value.