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how to calculate a weighted average in excel. First the AVERAGE function below calculates the normal average of three scores. Weighted Average in excel is calculated when we assign each data set with some kind of weights like weightage in statistics or portfolios we use weighted average to calculate more robust and impact observations and calculations the formula for weighted average is very simple which is w1x1w2x2wnxn w1w2wn where w is the weight assigned to the x value and we use sumproduct function to calculate the weighted average.
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Combine the SUMPRODUCT and SUM to Calculate the Weighted Average. In this example in order to calculate the weighted average overall grade you multiply each grade by the corresponding percentage converted to a decimal add up the 5 products together and divide that number by the sum of 5 weights. In the Insert Calculated Field dialog box please type Weight Average in the Name box type AmountWeight please change the formula based on your field names in the Formula box and then click the OK button.
A weighted average on the other hand considers one or more numbers in the range to be worth more or have a greater weight than the other numbers.
The average is calculated by adding a range of numbers together and then dividing this total by the number of values in the range. And in the end you will get the weighted average by dividing values from both of the function. Add the results of step two together. To calculate the weighted average of a data with a Pivot Table we can add a column to our source data as an intermediate calculation.
