Need to replace the strings in an array

Hey all the stackers,I have a lookup column where i store the result of all the students, but I the want the same array of result (containing Pass and Fail strings) in another column but in the resulting array FAIL should be replaced by "Need to work hard"Any way?? Thanks!!

Yeah! Easily you can do so by using substitute formula function and as follows:

SUBSTITUTE(Column name,"Fail", "Need to work Hard")

Let us know if it works fine.