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In this tutorial session, the presenter demonstrates how to swiftly change formulas and formatting in a spreadsheet using the "Find and Replace" feature. The initial example involves averaging numbers from one to nine and multiplying the result by ten, which totals 50. The presenter shows how to modify existing formulas, specifically changing an average function to a random number selection between one and nine. To enter formula view, the presenter instructs to press Control + Tilde (the squiggly line key next to the number 1). After accessing this view, the "Find and Replace" function is activated using Control + H, allowing for the search and alteration of specific formulas.