Weighted Average Formula:
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Definition: A weighted average is an average where each value has a specific weight or importance assigned to it.
Purpose: It provides a more accurate measurement than a simple average when values have different levels of importance.
The calculator uses the formula:
Where:
Explanation: Each value is multiplied by its weight, these products are summed, and then divided by the sum of all weights.
Details: Weighted averages are crucial in statistics, finance, education (GPA calculation), inventory management, and many other fields where not all values contribute equally.
Tips:
Q1: What's the difference between average and weighted average?
A: Regular average treats all values equally, while weighted average gives more importance to some values based on their weights.
Q2: Can weights be negative?
A: Mathematically yes, but in most practical applications weights are positive numbers.
Q3: What if my weights don't sum to 1?
A: The calculator will still work correctly. The formula automatically normalizes the weights.
Q4: Where is weighted average used in real life?
A: Common uses include GPA calculation, stock market indices, survey analysis, and performance metrics.
Q5: What happens if I enter more values than weights?
A: The calculator will only process pairs where both value and weight exist.