564 attributed reviews in the last 3 years
Refreshingly small course sizes
Outstandingly good courseware
Whizzy online classrooms
Wise Owls only (no freelancers)
Almost no cancellations
We have genuine integrity
We invoice after training
Review 30+ years of Wise Owl
View our top 100 clients
A blog showing how to use the SUMPRODUCT function
Part three of a three-part series of blogs
The SUMPRODUCT function is one of the hardest ones to understand in Excel, but it's also pretty useful. This blog gives clear examples of how to use SUMPRODUCT for conditional sums, weighted averages and the like.
The SUMPRODUCT function provides by far the best way to calculated weighted averages in Excel. Here's how!
We want to calculate the average value of sales for the following highly authentic figures:
The sales figures for 5 must-have Christmas presents.
The average price is 503.80 pounds, but this doesn't reflect the fact that we've sold only one Ducati, but 82 fur mittens:
This average price isn't realistic.
Instead, we want to calculate the weighted average price:
The average price is 503.80 pounds, but weighted by the quantities bought it's 134.55 pounds.
The statistical formula for the weighted average is:
There's really no other easy way to do this in Excel!
Hope you've enjoyed learning (or refreshing your knowledge) about SUMPRODUCT - maybe I'll be brave and write a blog about the INDIRECT function next!
|Parts of this blog|
Some other pages relevant to the above blogs include:
25 Aytoun Street