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Simple, Weighted Average Methods

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Please do send us the Average Cost Methods problems on which you need help and we will forward then to our tutors for review. Simple, Weighted Average Methods. The simple average method can work well where: We will use the same method for calculating a weighted average that we used in the previous problem except that now we already know the overall grade and do not know one of the category values. First, we will multiply each value by its percentage to get the following: Note that a variable, x, is used in place of the value for the final exam score since that is what we are trying to find.

Dividing both sides by. Thus, this student must earn a You are thinking about signing up for a two-year contract of new satellite television service which offers the following discounts: We have to find the average monthly savings for the first two years of your service. Get access risk-free for 30 days, just create an account. Although this problem could be done by using a standard average calculation, it will be much quicker to calculate the average monthly savings by using a weighted average.

First, you will multiply each value the amount of savings in this example by the frequency with which it occurs. Then, you will add up all of these values and divide by the total number of months, since we are looking for the average monthly discount over the entire two-year 24 month period. However, it is much faster to simply multiply each value by its frequency and add those four numbers, which is the idea of a weighted average.

This chart below shows the number of runs a major league baseball team scored in a game and the number of times each value occurred. To calculate the average we need to first multiply each value of runs scored by its frequency and add up the values. The calculation should look like this:. The average , or arithmetic mean , of a series of items means you simply add up all the item values and divide by the total number of items to calculate the average.

A weighted average is an average where each value has a specific weight or frequency assigned to it. The second case is when you have a group of items and each has a frequency associated with it. To unlock this lesson you must be a Study.

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It will also give some real-world examples of a weighted average. Try it risk-free for 30 days. An error occurred trying to load this video. Try refreshing the page, or contact customer support.

You must create an account to continue watching. Register to view this lesson Are you a student or a teacher? I am a student I am a teacher. What teachers are saying about Study. Calculating Weighted Average Flashcards. Are you still watching? Your next lesson will play in 10 seconds. Add to Add to Add to. Want to watch this again later? The Effects of Inventory Errors.

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Net Realizable Value of Inventory: Expected Value in Probability: High School Algebra I: Holt McDougal Algebra 2: Practice and Study Guide. Big Ideas Math Algebra 1: This lesson will examine the concept of a weighted average and types of situations when it should be used instead of a standard average. When to Use a Weighted Average Most people are familiar with the idea of finding the average , or arithmetic mean , of a series of items.

Although the formula for calculating weighted averages is not complex, many students are not aware of it, finding it somewhat difficult to calculate the weighted average correctly. This is a topic that should not be neglected, since understanding how to calculate a weighted average is essential not only for solving average problems, but as a technique to deal with various "open-type" questions.

Calculating the values for weighted averages and mixtures is common to many fields. Calculations require attention to the amount of each quantity. Homework Help; Specialized Programs. ADD/ADHD Tutoring Programs; Math Review of Weighted Averages and Mixtures https.

Video: Calculating Weighted Average: Method, Formula & Example This lesson will examine the concept of a weighted average and types of situations when it should be used instead of a standard average. Homework Help Weighted Averages. homeworkWeighted Average Cost of Capital is the topic Cost of Capital’s 5min-to-money.gq lesson will examine the concept of a weighted average and types of situations when it should be used instead of a standard average.

homeworkerhelper com Homework Help On Weighted Averages review writing services phd thesis first person. Weighted arithmetic average means the relative importance of the data. As a matter of fact, all the items of a series are not equally important for the purpose of a study.