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how to compute average weighted mean in excel. You can use SUMPRODUCT formula. Enter the data you want to calculate a weighted average for.
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First of all add a helper column of Amount in the source data. Draw a table with two columns with one column contains values the other contains their weights. Enter the below weighted average formula in the cell B12 to calculate the weighted mean.
Calculating Weighted Average in Excel The concept of an average comes from mathematics average can be defined as the result obtained by adding several quantities together and then dividing this total by the number of quantities.
Below you can find the corresponding weights of the scores. Its clear that the computation of a simple average and a weighted average produces different results. After that sum function will give you the sum of quantity. You can use SUMPRODUCT formula.
