In this article, we will learn about how to calculate the Weighted Average of the set of values.
A weighted average is a basically average where each observation in the data set is multiplied by a predetermined weight before calculation.
Weighted Average = ?(value * weight(value)) /? (weight)
Average = Sum of values in a range / number of values in a range
When we calculate the average of a range, every value in the range have equal weightage. But when we have values of variance weights, then we need to use weighted average concept.
Let’s understand how to execute Excel Weighted average formula using SUMPRODUCT and SUM function.
Here we have two arrays
Use the formula in the cell to find the weighted average
Explanation:
SUMPRODUCT function calculates the sum of the products of corresponding values (Score * Weightage(score)) and SUM function finds the sum of Weightage.
Press Enter to get the weighted sum of the data.
As you can see the result in B8 cell.
Hope you understood how to calculate the Weighted average of a set of values. Explore more articles on Mathematical formulation in Excel here. Mention your queries in the comment box below. We will help you with it.
Related Articles:
How to use the AVERAGEIFS function in Excel
How to Ignore zero in the Average of numbers in Excel
How to use the Averageif function in Excel
How to get the Average Difference between lists in Excel
Popular Articles:
50 Excel Shortcuts to Increase Your Productivity
How to use the VLOOKUP Function in Excel
How to use the COUNTIF function in Excel
How to use the SUMIF Function in Excel
The applications/code on this site are distributed as is and without warranties or liability. In no event shall the owner of the copyrights, or the authors of the applications/code be liable for any loss of profit, any problems or any damage resulting from the use or evaluation of the applications/code.