Average point values within a specified distance

Discussion created by todd93 on Feb 21, 2012
I would like to average the values contained within a field of a point feature class for all features that are located within a specified distance of each other. For example, if 3 points attributed with Elevation are within 100 meters of each other, I would like to calculate the average Elevation of those 3 points and attribute that value to a new point that is created in the center of the three points.

I found the Integrate tool, but this tool does not have the option to perform calculations using attributes of input dataset.

Any suggestions would certainly be appreciated!