Its the sum of the values divided by the number of values. It is used to calculate the arithmetic mean of a given set of arguments. This behavior can be replicated with the SUM and COUNT functions like this.
Since an average is determined.
Enter the data you want to calculate a weighted average for. Click on AVERAGEIF in the list to open the Function Dialog Box. Click on cell E12 to make it the active cell which is where the AVERAGEIF function will go. This video tutorial will show you how to calculate an average in Excel thanks to which youll be able to work out an average value of a group of numbers of.