Check the following link, it provides limitations of using array formulas in Excel.
Description of the limitations for working with arrays in Excel 2000, Excel 2002, and Excel 2003
Note The following are helpful facts to remember about the functions.
? If any cells in an array are empty or contain text, MINVERSE returns the #VALUE! error value.
? MINVERSE also returns the #VALUE! error value if the array does not have an equal number of rows and columns.
? MINVERSE returns the #VALUE! error if the returned array exceeds 52 columns by 52 rows.
? The MMULT function returns #VALUE! if the output exceeds 5460 cells.
? The MDETERM function returns #VALUE! if the returned array is larger than 73 rows by 73 columns.
Description of the limitations for working with arrays in Excel 2000, Excel 2002, and Excel 2003
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About the Author
A co-author of Data Science for Fundraising, an award winning keynote speaker, Ashutosh R. Nandeshwar is one of the few analytics professionals in the higher education industry who has developed analytical solutions for all stages of the student life cycle (from recruitment to giving). He enjoys speaking about the power of data, as well as ranting about data professionals who chase after “interesting” things. He earned his PhD/MS from West Virginia University and his BEng from Nagpur University, all in industrial engineering. Currently, he is leading the data science, reporting, and prospect development efforts at the University of Southern California.