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A weighted average is one that takes into account the importance, or weight, of each value. This article will show you how to use Excel's SUMPRODUCT and SUM functions individually and how to combine the two to calculate a weighted average.
We can calculate a weighted average by multiplying the values to average by their corresponding weights, then dividing the sum of results by the sum of weights. In Excel, this can be represented with the generic formula below, where weights and values are cell ranges: = SUMPRODUCT (weights, values) / SUM (weights)
In this tutorial, you'll learn how to calculate the weighted average in Excel. You can use the formulas such as SUM or SUMPRODUCT to calculate.
There aren’t any dedicated weighted average formulas in Excel like the arithmetic average formula: AVERAGE. However, you can use the formula SUMPRODUCT to get the weighted average in Excel. At times, you’ll also need to use the SUM formula with SUMPRODUCT to get weighted average values.
To get the correct average, use this formula to get the result (28 cents per shipment): =SUMPRODUCT (A2:A3,B2:B3)/SUM (B2:B3) The formula works by dividing the total cost of the two orders by the total number of cases ordered. Want more? Calculate the average of a group of numbers. AVERAGE function. AVERAGEIF function.
To calculate a weighted average in Excel, simply use SUMPRODUCT and SUM. 1. First, the AVERAGE function below calculates the normal average of three scores. Suppose your teacher says, "The test counts twice as much as the quiz and the final exam counts three times as much as the quiz".
Weighted average in Excel. We can use simple functions to calculate the weighted average in Excel. Traditional Excel =SUMPRODUCT(weights,values)/SUM(weights) Dynamic Array enabled Excel: Method 1 =SUM(weights*values)/SUM(weights) To use these formulas, we just need to insert the weights and values based on our data.
The tutorial demonstrates 2 easy ways to do weighted average in Excel by using the SUM or SUMPRODUCT function.
In the article above, we saw how you may set up a formula to calculate weighted averages in Excel. We also saw how the weighted average is different from the normal average. And how the results vary for both.
Welcome to an exploration of the Excel Weighted Average Formula, a pivotal tool in the Excel user’s arsenal. This formula is crucial for accurately evaluating data sets where different values hold varying degrees of significance.