Finding Avg. Based on Criteria Found in a Second Column

Hello, I have to find the Average for values in Column 1 matching the criteria (Type) in Column 2 IE

Column 1----Column2

AAA----7
AAB----6
AAA----3
AAC----9
AAB----14
AAA----5
AAE----7

I need a formula which would check Column 1 find all of the matching values (AAA, AAB, etc.) then calculate an average using the values in Column 2 associated with the values found. Example: The above Average for AAA would be 5.
It's seems rather straight forward but so far I've had no luck with anything I've tried, I'm rather new so I'm hoping it's just something simple.

Placing each of your criteria in column A, in column B (in my example, B11 with the data in A2 to A8)

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I attached an example file.

ChemistB

First off, thank you very much for the reply.

I took a look at the attached file & noted that although the formula calculated correctly for AAA (3 found with a total value of 15 equaling an average of 5, the same wasn't true for AAB (2 found with a total of value of 20 and an average of 10), nor AAC, calculated average 9, or AAE which is 7.

I'm certain the problem was my explaination of what I was looking for.

Basically, the function needs to search a column, count the number of times a variable appears (Vx), check the value in the next column associated with each of those found, Total the values (Vt), then divide the Vt by Vx, to arrive at an average for just those variables.

Again I apolgize if my earlier post was unclear, or infact I'm missing something with the formula you sent (which is quite possible) I appreciate you taking the time to assist me.

Not your fault, my fault.

The Sum range for column B needs to be locked in place (with $). The correct formula in B11 (which and be dragged down) would be

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Sorry about that.

ChemistB

Thank you so much ChemistB, the formula works like a charm. It's exactly what I was looking for, really appreciate it.

Glad it helped.

ChemistB