Averaging Data Excluding Weekends and Holidays in Excel

To calculate the average of a set of data within a specified date range while excluding weekends and holidays, you can utilize the AVERAGEIFS function combined with the NETWORKDAYS function for effective date handling.

Formula

The general formula to achieve this is as follows:

=AVERAGEIFS(DataRange, DateRange, ">="&StartDate, DateRange, "<="&EndDate, DateRange, "<>"&HolidaysList)

Explanation of Components

1. DataRange: This is the range of cells containing the data to be averaged.

2. DateRange: This is the range of cells containing the corresponding dates for the data.

3. StartDate: The starting date of the range for which you want to calculate the average.

4. EndDate: The ending date of the range for which you want to calculate the average.

5. HolidaysList: This is a reference to a list of holiday dates that you wish to exclude. It can be a range of cells containing holiday values.

6. Criteria: The average will only consider dates in the specified range that are not weekends or listed holidays, ensuring only valid working days are included in the calculation.

Practical Example

Sample Data Setup

Assume we have the following data:

• Data is in the range B2:B10 (sales amounts)
• Corresponding Dates are in range A2:A10
• Holidays are listed in the range D2:D5
• You want to average the data between 01/01/2023 and 01/15/2023

Sample Data

Holidays in D2:D5:

Implementation

You would implement the formula as follows:

=AVERAGEIFS(B2:B10, A2:A10, ">=" & DATE(2023, 1, 1), A2:A10, "<=" & DATE(2023, 1, 15), A2:A10, "<>" & D2:D5)

Breakdown of the Formula

1. B2:B10: The range of sales data to average.
2. A2:A10: The dates associated with the sales data.
3. ">=" & DATE(2023, 1, 1): This criterion includes dates starting from January 1st, 2023.
4. "<=(" & DATE(2023, 1, 15): This criterion limits dates to January 15th, 2023.
5. "<>" & D2:D5: This exclusion ensures that the average calculation disregards any dates in the holidays list.

Result Interpretation

The formula will average the sales between the specified dates, excluding weekends (01/07 and 01/14), and the recognized holidays (01/01 and 01/10). Thus, the effective days for averaging will include 01/02, 01/03, 01/08, 01/09, and 01/15.

Conclusion

Utilizing the AVERAGEIFS function along with proper date filtering enables precise calculations in scenarios where only working days should contribute to an average. This approach efficiently excludes undesirable dates, such as weekends and holidays, ensuring accurate and relevant data analysis.

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