Weighted mean calculation
How to calculate weighted means in Excel using SUMPRODUCT. Use this skill when calculating the weighted average for a group (e.g., GCC Countries) by multiplying values by their corresponding weights (e.g., GDP).From its SKILL.md
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Weighted Mean Calculation: SUMPRODUCT
To calculate the weighted mean:
=SUMPRODUCT(values_range, weights_range) / SUM(weights_range)
- values_range: The data points to be weighted (e.g., Net Exports as % of GDP).
- weights_range: The values used as weights (e.g., GDP in current prices).
Ensure both ranges are of the same size. If the desired result is a percentage, format the cell appropriately or multiply the final formula by 100 to meet reporting requirements.
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