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Formula average

fresen
New Contributor

Hi,

I want to find the average price of a product, but the product has 3 different prices - and I want the average based on which one sells most (if that's possible to understand)...

                                                                

Price                                  82               54                 44

% of product sale             33%            53%              14%

 

Does anyone know a formula i can use? :-)  

 

7 Replies
Highlighted
Which one sells most? Such question presupposes that there are multiple products with varying quantities of sales, which are missing in your given data. Please provide such data so I can decipher the appropriate formula that will deliver the result you expect.
Also, what do you mean with the given percentages? Do they refer to the sales mix of 3 products? Please clarify.

Perhaps

image.png

=SUMPRODUCT(B1:D1,B2:D2)

1 product

3 Prices for the same product (ordinary/student/member)

 

                    Ordinary        Student         Member

Prices              82                   54                   44

% of sale.       33%.                53%.               14%

 

So it's one product, but with three different prices. I want to find the average outgoing price for that product, when i sell the product for different prices... 

 

F.ex.:

                    Ordinary        Student

Prices                100               50

% of sale           50%             50%

 

This would mean that the average outgoing price for the product - depending on how much the different prices sells - is 75. 

 

I got (almost) the same answer, when I used =(B1*B2)+(C1*C2)+(D1*D2). (61,67)

 

But when I tried to insert the formula you suggested, I get an error code saying there's a problem with the formula(?)...

Given that you have only one product with 3 different prices at a specified percentage of sales mix, the weighted average sales price of your single product is calculated using the Sergei’s formula.

Think I got it right now then, thanks for you help :-) 

I’m glad you did.
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