David,

Try the following array formula:

=AVERAGE(IF(A1:A5="am",C1:C5,FALSE))

Change the ranges to suit your needs. Since this is an array
formula, you must press CTRL+SHIFT+ENTER rather than just ENTER
when you first enter the formula and whenever you edit it later.
If you do this properly, Excel will display the formula enclosed
in curly braces {}.


--
Cordially,
Chip Pearson
Microsoft MVP - Excel
Pearson Software Consulting, LLC
www.cpearson.com




"David" wrote in message
...
ColumnA alternates between text "AM" and "PM"
ColumnC contains corresponding numbers/values
I want two formulas to put in Column E:
1) Average "AM" values
2) Average "PM" values

Should be simple, but I can't get it right.
Any help?

--
David