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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
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. 

 

Highlighted

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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