The AVERAGEIFS function returns the average (arithmetic mean) of all cells that meet multiple criteria.

AVERAGEIFS takes 3 required arguments and 126 optional arguments:

Syntax: AVERAGEIFS(average_range, criteria_range1, criteria1, [criteria_range2, criteria2], ... )

#1)
Using the AVERAGEIFS function:
#2)
The arguments for the AVERAGEIFS function are:
Argument Required? Description
average_range Required One or more cells to average, including numbers or names, arrays, or references that contain numbers.
criteria_range1, criteria_range2, ... Required Criteria_range1 is required. Subsequent criteria_ranges are optional. Up to 126 additional criteria ranges.
criteria1, criteria2, ... Required Criteria1 is required. Criteria in the form of a number, expression, cell reference, or text that define which cells will be averaged. Subsequent criterias are optional. Up to 126 additional criterias.
#3)
A few more things:
If average_range is a blank or text value, AVERAGEIFS returns the #DIV0! error value.
If a cell in a criteria range is empty, AVERAGEIFS treats it as a 0 value.
Cells in range that contain TRUE evaluate as 1; cells in range that contain FALSE evaluate as 0 (zero).
Each cell in average_range is used in the average calculation only if all of the corresponding criteria specified are true for that cell.
Unlike the range and criteria arguments in the AVERAGEIF function, in AVERAGEIFS each criteria_range must be the same size and shape as average_range.
If cells in average_range cannot be translated into numbers, AVERAGEIFS returns the #DIV0! error value.
If there are no cells that meet all the criteria, AVERAGEIFS returns the #DIV0! error value.
You can use the wildcard characters, question mark (?) and asterisk (*), in criteria. A question mark matches any single character; an asterisk matches any sequence of characters. If you want to find an actual question mark or asterisk, type a tilde (~) before the character.

Summary

The AVERAGEIFS function returns the average (arithmetic mean) of all cells that meet multiple criteria.
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