Averages vs. Weighted Averages

Front

What is the definition of average?

Back

The average is the sum of a set of values divided by the number of values in the set.

Front

How do you calculate the average of a set of numbers?

Back

Add all the numbers together and then divide by the total count of the numbers.

Front

What is a weighted average?

Back

A weighted average is an average that takes into account the relative importance or weight of each value in the set.

Front

How do you calculate a weighted average?

Back

Multiply each value by its weight, sum these products, and then divide by the total of the weights.

Front

What is the formula for calculating the mean?

Back

Mean = (Sum of all values) / (Number of values)