In this video, you will calculate the average pay rate for the careers you are researching.
An average is the central value of a set of numbers. It is calculated by adding all thenumbers together, and then dividing them by the number of items in the set.
Finding the average of a few different pay rates gives you a more realistic view of whatyou can actually expect to make in a job, since one company might pay a much higher or lower rate for a particular job than others.
To begin, type “Average” under your sources in the Pay Rate column for the first job inyour spreadsheet, and make it bold so it stands out.
To calculate the average of the pay rates you recorded, use a formula. In a spreadsheet,a formula does mathematical calculations automatically. This is faster and more accurate than addingup a list of numbers by hand, and your average will update if you change any of the numbersin the list.
First, select the cells containing the pay rate data.
You will use this cell reference in your formula. A cell reference tells the formula which cellsto use in the calculation. It also allows totals to change automatically when numbersin those cells are updated.
Now, apply the AVERAGE formula. This formula automatically calculates the average of thevalues in the cells you selected.
Note that the total changes if any of the numbers in the referenced cells change.
Repeat these steps to find the average pay rates for additional careers.
Now, it’s your turn: Add an “Average” label under your sourcesand bold it, Use a formula to calculate the average payrate, And repeat these steps for additional careers.