I'm looking for a formula that will allow me to automatically fill in a price
(from a price group containing 5 different price levels) for a listing of 60
to 80 products.

Ex: There are 60 different pens - each named differently - that I would
like to choose from a drop-down list. Once selected (and depending upon my
selection) the pricing for that specific pen would be filled in
automatically, from a price list containing 5 or 6 different price levels.
i.e. 60 pens in 5 or 6 different price buckets, with the pricing
automatically inserted - depending upon your selection.

Is this possible?