How to calculate the average in Excel
Learn how to calculate the average with Excel by looking at this step-by-step, worked-out example. Averages are also known as means or arithmetic means.
EXERCISE: The Dow Jones Travel Index reports what business travelers pay per night at a hotel in major U.S. cities (The Wall Street Journal, January 16, 2004). The average nightly prices in 20 cities are as follows.
a. What is the average price of these rooms?
Bibliography: Statistics for Management and Economics, 10th Edition. Anderson, David R., Dennis J. Sweeney, and Thomas A. Williams.
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