formula of weighted average mean
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Answer:
Weighted Average = Sum of weighted observations /Sum of weights
Steps for Calculating the Weighted Average
Collect the values or numbers for which we need to calculate the weighted average. We know these values as ‘x’.
Determine and assign the weights to the values according to their importance. We know these weights as ‘w’.
Arrange the values ‘x’ and the weights ‘w’ in a table.
Multiply each weight ‘w’ with its corresponding value ‘x’. After multiplying, we get ‘xw’.
Find the sum of all weights ∑w′and‘∑xw∑w′and‘∑xw
Lastly, apply the formula and find the weighted average by dividing ∑xwby∑w
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