List Data If, Then Statements

[bbabine]

Looking for assistance on the following:

I have a basic drop-down list which has a choice of Yes or No.

I am trying to write a formula that will check which was selected in the drop-down.
If the choice was Yes, then x, else y

Is this possible?

Thank you!!
-BB

 

[Peter_SSs]

If the drop-down is in A1 then
=IF(A1="Yes","x","y")