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The video tutorial explains how to create a formula in a program. The formula, named Total Tickets Sold, involves adding numbers together to get a total count. The return type is a number, not a date. Decimal places are not wanted, as the numbers are integers. The operator used is "plus" for addition. The formula includes adding general admission tickets sold to VIP tickets sold. The tutorial also shows the available simple operations like add and subtract. Despite using the Code E version, the formula is functional and can be tested.
