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In this video tutorial, the presenter explains how to format the axis on a chart in Excel to display dates correctly. When using a scatter chart in Excel, there is a bug that displays numbers instead of dates on the axis. To fix this issue, change the chart type from scatter to line, select line with markers, and set the bounds and major month to display data points for each month. By adjusting the settings, you can accurately show dates from January to December on the chart.