Yes, it is relatively simple.
Sub Macro1()
'
' Macro1 Macro
'
'Check the value in a range of cells is 5 < x < 20 and replace with 3.14
'On the active sheet the range contained the numbers 1 to 30
'select the sheet and simply run the macro
For Each c In Range("E1:E30")
If c.Value > 5 Then
If c.Value < 20 Then
c.Value = 3.14
End If
End If
Next
End Sub