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How to calculate weighted average in Excel?

Author: Kelly Last Modified: 2019-01-03

For example, you have a shopping list with prices, weights, and amounts. You can easily calculate average price with the AVERAGE function in Excel. But what if weighted average price? In this article, I will introduce a method to calculate the weighted average, as well as a method to calculate weighted average if meeting specific criteria in Excel.

Calculate weighted average in Excel

Calculate weighted average if meeting given criteria in Excel

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arrow blue right bubbleCalculate weighted average in Excel

Supposing your shopping list is as below screenshot shown. You can easily calculate the weighted average price with combining the SUMPRODUCT function and SUM function in Excel, and you can get it done as follows:

Step 1: Select a blank cell, says Cell F2, enter the formula =SUMPRODUCT(C2:C18,D2:D18)/SUM(C2:C18) into it, and press the Enter key.

doc weighted average 2

Note: In the formula =SUMPRODUCT(C2:C18,D2:D18)/SUM(C2:C18), C2:C18 is the Weight column, D2:D18 is the Price column, and you can change both based on your needs.

Step 2: The weighted average price may include too many decimal places. To change the decimal places, you can select the cell, and then click the Increase Decimal button or Decrease Decimal button  on the Home tab.

doc weighted average 3


arrow blue right bubbleCalculate weighted average if meeting given criteria in Excel

The formula we introduced above will calculate the weighted average price of all fruits. But sometimes you may want to calculate the weighted average if meeting given criteria, such as the weighted average price of Apple, and you can try this way.

Step 1: Select a blank cell, for example Cell F8, enter the formula =SUMPRODUCT((B2:B18="Apple")*C2:C18*D2:D18)/SUMIF(B2:B18,"Apple",C2:C18) into it, and press the Enter key.

doc weighted average 6

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Note: In the formula of =SUMPRODUCT((B2:B18="Apple")*C2:C18*D2:D18)/SUMIF(B2:B18,"Apple",C2:C18), B2:B18 is the Fruit column, C2:C18 is the Weight column, D2:D18 is the Price column, "Apple" is the specific criteria you want to calculate weighted average by, and you can change them based on your needs.

Step 2: Select the cell with this formula, and then click the Increase Decimal button or Decrease Decimal button on the Home tab to change the decimal places of weighted average price of apple.


arrow blue right bubbleRelated articles:

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Comments (3)
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This comment was minimized by the moderator on the site
This is great, thank you very much! If error with SUMPRODUCT when selecting columns for example A:A and data starts A1. Then use $A$1:$A$2000.
This comment was minimized by the moderator on the site
Hi Andy, Good Question, I hope you're still searching for the answer. You can still apply the same formula as above just adapt it to fit your needs. I hope this helps:)
3 years is never too late to reply lol hehe
This comment was minimized by the moderator on the site
I am trying to calculate a weighted average on a subset of data that meets certain criteria. Lets use the following as the data; Name (Column A) Length (Column B) Value (Column C) Red Oak 10 ft $100 Red Oak 15 ft $150 Red Oak 21 ft $210 Birch 5 ft $35 Birch 8 ft $50 Birch 11 ft $85 I am trying to calculate the weighted average length per Tree name based on Value as the measure you use to weight it. So for red oak the weight on the first line is .217391 (100/460). So my weighted average length based on value of inventory is 16.65217 ft. I believe I would use SUMPRODUCT like in your example above, but I can't get it to work.
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