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Is there a formula to calculate based on series of checkboxes?

Question asked by jasond jasond on Nov 13, 2014
Latest reply on Nov 14, 2014 by jasond jasond
Version 6.7.7 (Professional)

Our business manages opportunities that progress through many stages of a sales cycle.  The progression of the sales cycle is determined by the number of milestones achieved within the opportunity.  Each stage has about 3-4 milestones.  We have a section in the Opportunity record that allows the user to check boxes that represent these milestones. 

I would like a field at the bottom of the section to calculate what stage the opportunity is in based on the check boxes marked.  So if the first 3 check boxes (milestones) are checked, the formula would display "Stage 1".  Then, when the next 3 check boxes are marked (now 6 total), "Stage 2 would appear".  And so on...

Is there a formula that can do this?  Thank you!