Hi
I am an analyst and I need help with an advance use of the sum product function for weighted averages.
I am trying to calculate three different weighted averages within 1 of 50 groups of data. Each of the 50 groups of data have a different weighting score (different importance). I have tried to use the basic =sumproduct(A1:A16,B1:B16)/sum(B1:B16) however this only takes into account the weighting score of just group 1 (group 1 range is from A1:A16) however does not adjust the averages according to the weighting of the other 49 data groups.
PLEASE HELP ME
I am relatively new to excel.
I am an analyst and I need help with an advance use of the sum product function for weighted averages.
I am trying to calculate three different weighted averages within 1 of 50 groups of data. Each of the 50 groups of data have a different weighting score (different importance). I have tried to use the basic =sumproduct(A1:A16,B1:B16)/sum(B1:B16) however this only takes into account the weighting score of just group 1 (group 1 range is from A1:A16) however does not adjust the averages according to the weighting of the other 49 data groups.
PLEASE HELP ME
I am relatively new to excel.