Weighted Mean Formula
Weighted Mean for quantities is different from the mean as, in the calculation of weighted mean, each quantity in the calculation of weighted means is assigned a weight wx. This weight is different for different quantities and more specifically, this weight can be some kind of priority or entity associated with quantities.
Weighted Mean Formula
Suppose the Given quantities are q1, q2, q3, q4, …… qn
And weights associated with them are w1, w2, w3, w4, …… wn
Then Weighted Mean is given by
Weighted Mean = (w1×q1 + w2×q2 + w3×q3……………….+ wn×qn )/ (w1+ w2+ w3 +…….wn)
Weighted Mean Formula
Mean is also called average in Mathematics which denotes the sum of all given quantities divided by the number of quantities. The arithmetic mean is important in statistics. For example, Let’s say there are only two quantities involved, the arithmetic mean is obtained simply by adding the quantities and dividing by 2.
Table of Content
- What is Weighted Mean?
- Weighted Mean Formula
- How to Calculate Weighted Mean?
- Weighted Mean Vs Arithmetic Mean
- Arithmetic Mean Calculation:
- Weighted Mean Calculation:
- Weighted Mean Examples