Asked by Lisper Onyinkwa on Jun 15, 2024
Verified
In what circumstance should you calculate a weighted average instead of a simple average?
Weighted Average
An average that takes into account the varying degrees of importance of the numbers in a data set.
Simple Average
The arithmetic mean calculated by adding a group of numbers and then dividing by the count of those numbers.
- Determine mean expenses and compute weighted means within fiscal dealings.
Verified Answer
AG
ashley gomezJun 17, 2024
Final Answer :
You should calculate a weighted average when some of the values being averaged are more important or occur more frequently than other values.
Learning Objectives
- Determine mean expenses and compute weighted means within fiscal dealings.
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