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You can use mathematical functions in custom tables and fields. See Adding a New Custom Table and Defining and Editing Field Formula for further details.
Following are descriptions for the available logical functions:
IFBIGINT(condition, true value, false value)
Returns the first value if the boolean evaluate is true, else returns the second value.
IFDATETIME(condition, true value, false value)
Returns the first value if the boolean evaluate is true, else returns the second value.
IFDOUBLE(condition, true value, false value)
Returns the first value if the boolean evaluate is true, else returns the second value.
IFINT(condition, true value, false value)
Returns the first value if the boolean evaluate is true, else returns the second value.
IFSTRING(condition, true value, false value)
Returns the first value if the boolean evaluate is true, else returns the second value.
INRANGE(value, start, end)
Returns true if a given value is between start and end.
ISNULL(value)
Returns true if a given value is null.
The LOOKUP function is only for defining custom columns. It cannot be used for custom tables.
The following is a video demonstration of the Lookup function.