What is the purpose of the SUMPRODUCT function in Excel?

The SUMPRODUCT function in Excel is designed to multiply corresponding components in given arrays or ranges and then sum those products. This means that for each pair of values in the specified ranges, it calculates the product and then adds all those products together to return a single value.

This function is particularly useful in scenarios where you want to perform weighted calculations, for example, calculating total sales based on quantities sold and unit prices across different items. By leveraging the SUMPRODUCT function, users can efficiently perform complex calculations that would typically require multiple steps using individual multiplication and summation functions.

The other options describe functions or tasks that either do not align with what SUMPRODUCT does or refer to simpler operations that do not utilize the power of multiplying across arrays. For instance, summing values in a single range, creating charts, or calculating the sum of a range of cells do not capture the unique capability of the SUMPRODUCT function to multiply and then aggregate results in one step.