Works OK for me (once I changed F17:1500 to F17:F1500).

Something that can cause the #VALUE! error is having a #VALUE! error
somewhere in your argument ranges that is then passed through. Have you
checked that?

In article ,
RS wrote:

In Excel 2000, I'm trying to create a formula whereby it finds case types
(ex: ABC) that close in a particular month (ex. January) and calculates the
average length those cases were open. What's wrong w/ my formula? I get the
#VALUE! displayed. I've also tried entering it as an array formula w/ the
same result.

=AVERAGE(IF((J17:J1500="ABC")*(MONTH(I17:I1500)=1) ,F17:1500)).

Column J contains the case types, column I has the close dates (ex.
1/15/07), and col F calculates the # of days a case is open based on the open
date (col G) & close date (col I).

Now I know that I can use Autofilters for the the case types & close dates
and the =SUBTOTAL(1,F17:F1500) formula, but I want to have the values for
each of these months readily available.