Hi Curtis,

You can do it if you take each sum average separately, then average the
whole thing.

=AVERAGE(AVERAGEIF((C5:C12),"<0"),AVERAGEIF((C15: C18),"<0"),AVERAGEIF((C21:C30),"<0"),AVERAGEIF(( C33),"<0"))

Squeaky

"Curtis" wrote:

why is the formula below not working...It returns the #VALUE!

=AVERAGEIF((C5:C12,C15:C18,C21:C30,C33),"<0")

Thanks