In this lesson let me help you on weighted average calculation. Before i go in for examples, let me explain what does weighted average mean?
What Does Weighted Average Mean?
An average in which each quantity to be averaged is assigned a weight. These weightings determine the relative importance of each quantity on the average. Weightings are the equivalent of having that many like items with the same value involved in the average.
Weighted Average Calculation - Example
Ex 1 : Find the weighted A.M. from the following data.
Tom bought 20 science books @ 10each 15Bibles@ 8 each and 15 story books @ $5 each
Sol: Here weight = number of books and cost of the books = x
Name of the books cost (x) No. of books (w) wx Science $10 20 200
Bibles $ 8 15 120
Story books $ 5 15 75
Σw= 50 Σwx = 395
Hence weighted A.M. = 395 / 50 = $ 7.90. This can also help us on air miles calculator
What Does Weighted Average Mean?
An average in which each quantity to be averaged is assigned a weight. These weightings determine the relative importance of each quantity on the average. Weightings are the equivalent of having that many like items with the same value involved in the average.
Weighted Average Calculation - Example
Ex 1 : Find the weighted A.M. from the following data.
Tom bought 20 science books @ 10each 15Bibles@ 8 each and 15 story books @ $5 each
Sol: Here weight = number of books and cost of the books = x
Name of the books cost (x) No. of books (w) wx Science $10 20 200
Bibles $ 8 15 120
Story books $ 5 15 75
Σw= 50 Σwx = 395
Hence weighted A.M. = 395 / 50 = $ 7.90. This can also help us on air miles calculator
