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Calculate weighted averages using high, medium, low

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  1. #1
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    Calculate weighted averages using high, medium, low

    On another thread I found a solution to creating a weighted average given a pair of columns of numbers but I have column B consisting of values given as High, Medium and Low and the weighted column C of 1, 2 or 3.

    How can I use the formula below to accomplish this, or is this maybe not the right way to created a weighted average?

    =SUMPRODUCT(B2:B11,C2:C11)
    Last edited by JimDandy; 01-05-2009 at 03:20 PM.

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    Forum Expert Ron Coderre's Avatar
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    Can you post a workbook with :
    • some sample data
    • formulas you've tried (even if they don't work)
    • desired results
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    As Ron indicates it is difficult to be sure what you are after from your post.
    However, is this what you are after?

    =SUMPRODUCT(B2:B11,C2:C11)/SUM(C2:C11)

    Mark.

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    re: calculate weighted averages using High, Medium, and Low

    Not sure how to use SUMPRODUCT for this, but I don't have much experience with that function. If nothing else, you could create a table:

    In the range D1:D3, put:
    Low
    Medium
    High

    Next to that in E1, put:

    =SUMIF(B:B,D1,C:C)

    and fill down to E2 and E3

    If you simply want an answer of either high medium or low, you would simply take the MAX of these.

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    I’m trying to compare two sets of features (real estate properties) to see which set (or property) has a higher average. If a feature exists it is rated as having a High value, if it doesn’t exist it’s rated as Low but if a feature exists but has some faults, it is given a Medium value.

    Then, there are some features that are better to have than others, so I’ve added weighted values of 1-3. So with all other things being equal, if a property has a Pool but no screened in porch, it gets a 3 weight for that feature, which beats a property that has a screened in porch but no Pool which would only get a 2. The Weighted Average calculation is =SUMPRODUCT(B2:B11,C2:C11) and works if I’m using numbers but I’d like to keep the High, Medium, Low selection but equate a 3, 2 or 1 to these values in order to perform the calculation.

    Features         Value     Weight
    Feature 1        High      1
    Feature 2        Medium    3
    Feature 3        Low       1
    Feature 4        High      2
    Feature 5        Medium    3
    Feature 6        Low       1
    Feature 7        High      2
    Feature 8        Medium    2
    Feature 9        Low       1
    Feature 10       High      1
              
              
    Weighted Average           37

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    Forum Expert shg's Avatar
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    =SUMPRODUCT(MATCH(B2:B11, {"Low","Medium","High"}, 0), C2:C11) / SUM(C2:C11) (gives 2.2 for your example)
    Entia non sunt multiplicanda sine necessitate

  7. #7
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    Many thanks! This worked just as expected.

  8. #8
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    You're welcome. Would you please mark the thread as solved?

    Click the Edit button on your first post in the thread

    Click Go Advanced, select [SOLVED] from the Prefix dropdown, then click Save Changes

    If more than two days have elapsed since your first post, ask a moderator to mark it.

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