Question

The mean for a set of data obtained by assigning each data value a weight that reflects its relative

importance within the set, is called:

(A) Geometric mean

(B) Harmonic mean

(C) Weighted mean

(D) Combined mean​

Answer 1

Answer:

The weighted mean is a type of mean that is calculated by multiplying the weight (or probability) associated with a particular event or outcome with its associated quantitative outcome and then summing all the products together.

Explanation:

The mean for a data set obtained by assigning each data value a weight that reflects its relative importance within the set is called a weighted mean.

A weighted mean is type of average. Instead of each data point contributing equally to the final average, some data points are given more "weight" than others. If all the weights are equal, then the weighted average is equal to the arithmetic mean (the regular "average" you're used to). Weighted averages are very common in statistics, especially when studying populations.

In some cases, you may want the number to have more weight. In that case, you'll want to find a weighted average. To find the weighted mean:

1. Multiply the numbers in the data set by the weights.

2. Add up the results.

It is very useful in calculating the theoretically expected outcome where each outcome has a different probability of occurrence, which is the key feature that distinguishes the weighted average from the arithmetic average.

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Answer 2

Answer:

The correct answer is option (C) Weighted Mean

Explanation:

Weighted Mean-

• The weighted mean is a type of mean that is calculated by multiplying the weight (or probability) associated with a specific event or outcome by the quantitative outcome and then adding the results.
• It is extremely useful when calculating a theoretically expected outcome where each outcome has a different probability of occurring, which is the key difference between the weighted mean and the arithmetic mean.
• It is critical to note that all probabilities or weights must be mutually exclusive (i.e., no two events can occur at the same time) and that the total weights and probabilities must equal 100%.

Hence, The mean for a set of data obtained by assigning each data value a weight that reflects its relative importance within the set, is called Weighted Mean.

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