Some purchasing specialist jobs also assign specialists to track the maintenance of office equipment. Maintaining records of warranties and service agreements is sometimes expected of a person in this position.
A retail price index would take this into account and use a weighted average which gives more prominence to commonly bought items. Excel does not contain a built in function to calculate a weighted average. It is however easy to do it using the SUMPRODUCT() function in a simple formula. SumProduct() multiplies two arrays (or ranges) together and returns the sum of the product. In the illustration it would calculate '(B4 x C4) + (B5 x C5) + (B6 x C6)'.
From Wikipedia, the free encyclopedia. A weighted average is the average of values which are scaled by importance. The weighted average of values is the sum of weights times values divided by the sum of the weights.rom Wikipedia, the free encyclopedia. A weighted average is the average of values which are scaled by importance. The weighted average of values is the sum of weights times values divided by the sum of the weights.