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What Is A Weighted Average?

A weighted average is a calculation that takes into account the varying importance of numbers in a data set by multiplying each number by a predetermined weight before calculating the average. This can provide a more accurate representation of the data than a simple average, which treats all numbers equally. To calculate a weighted average, weights are assigned in advance to determine the relative importance of each data point.

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267 views12 pages

What Is A Weighted Average?

A weighted average is a calculation that takes into account the varying importance of numbers in a data set by multiplying each number by a predetermined weight before calculating the average. This can provide a more accurate representation of the data than a simple average, which treats all numbers equally. To calculate a weighted average, weights are assigned in advance to determine the relative importance of each data point.

Uploaded by

Sachin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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What Is a Weighted Average?

• Weighted average is a calculation that takes into account the varying

degrees of importance of the numbers in a data set.

• In calculating a weighted average, each number in the data set is multiplied

by a predetermined weight before the final calculation is made.

• A weighted average can be more accurate than a simple average in which all

numbers in a data set are assigned an identical weight.

• In calculating a simple average, or arithmetic mean, all numbers are treated

equally and assigned equal weight. But a weighted average assigns weights

that determine in advance the relative importance of each data point.


Weighted Average:
Merits of Mean :
1) Arithmetic mean rigidly defined by Algebraic Formula.
2) It is easy to calculate and simple to understand.
3) It is based on all observations of the given data.
4) It is capable of being treated mathematically hence it is widely used in
statistical analysis.
5) Arithmetic mean can be computed even if the detailed distribution is not
known but some of the observation and number of the observation are known.
6) It is least affected by the fluctuation of sampling.
7) For every kind of data mean can be calculated.
Demerits of Arithmetic mean:
• 1)It can neither be determined by inspection or by graphical location.

2) Arithmetic mean can not be computed for qualitative data like data on

intelligence honesty and smoking habit etc.

3) It is too much affected by extreme observations and hence it is not

adequately represent data consisting of some extreme point.

4) Arithmetic mean can not be computed when class intervals have open

ends.

5) If any one of the data is missing then mean can not be calculated.
Uses :

• 1) Mean is used in fields such as business, engineering and computer science.

2) It is used in report card or in our population.

3)In addition to mathematics and statistics, the arithmetic mean is used

frequently in fields such as economics, sociology, and history, though it is used in

almost every academic field to some extent. For example, per capita GDP gives

an approximation of the arithmetic average income of a nation's population.

4)While the arithmetic mean is often used to report central tendencies, it is not

a robust statistic, meaning that it is greatly influenced by outliers.

5) It’s used to compute the variance and SD (Standard Deviation). It’s good for

inferential statistics.
Median:

• The median is that value of the variable which divides the group in two

equal parts comprising all the values which greater and all other values are

less than median.

• Median is the middle number in a sorted list of numbers. To determine the

median value in a sequence of numbers, the numbers must first be sorted,

or arranged, in value order from lowest to highest or highest to lowest.


• If there is an odd amount of numbers, the median value is the
number that is in the middle, with the same amount of
numbers below and above.
• If there is an even amount of numbers in the list, the middle
pair must be determined, added together, and divided by two
to find the median value.
2.
Eight coin tossed together and getting number of heads as per below table.
Operation repeated 128 times. Calculate median

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