What is Weighted Mean?
Weighted mean is a statistical measure used to determine the average of a set of numbers, where each number is multiplied by a predetermined weight before calculating the average.
If there are n quantities, q1, q2, q3, q4, …… qn, then mean of quantities is denoted by and is calculated by,
= (q1+ q2+ q3+ q4+….+ qn) / n
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