Extract Data from one Workbook to another based on a drop down list

I've been charged with the task of creating a link between two workbooks in order to extract data from workbook 1 into workbook 2 to based on a selection from a drop down list and populating a set of equations in workbook 2. I am still compiling the data and equations into the workbooks. Looking for an easy method to accomplish this task.

Hemesh,

I am still working on the equations. This is a structural computation spreadsheet and basically we'd like to be able to choose a framing member and apply it's structural values into the equations to see if it passes or fails. I am just looking for a general procedure to link this data together by selecting the member size from a drop down list, hopefully resulting in the remaining data being able to populate the equations. So every time I select a different member size the equations update automatically. I'm hoping to have the equations input by midday tomorrow.

Thanks