combining vlookup with if?

I am trying to write two formulas that say if col 1 ="e" and col 2>40 then
count how many times that occurs (in this case 1 time). In another cell I'd like to write a similar formula that also says if col 1 ="e" and col 2>40 then average those numbers (in this case 65 b/c there is only one number). Any ideas?

Col 1 Col 2
e 23
e 34
k 25
e 65
r 56
k 43
k 45
r 43
r 22
e 31

This formula should count the number that matches your criteria:

=SUMPRODUCT((A1:A10="e")*(B1:B10>40))

And this should give you the average of the results:

=SUMPRODUCT((A1:A10="e")*(B1:B10>40)*(B1:B40))/SUMPRODUCT((A1:A10="e")*(B1:B10>40))

HTH

Jason