I have 3 values, which are:
560
500
-156
560 happens 21.3% of the time
500 happens 19.8% of the time
-156 happens 58.9% of the time
With a total range of 716, how would I work out what the single average value is, using those percentages?
For example, if I had values of:
1000
0
1000 happened 50% of the time, and
0 happened 50% of the time,
the average value, using those percentages would be 500.
If 1000 happened 75% of the time, and
0 happened 25% of the time,
the average value using those percentages would be 750.
560
500
-156
560 happens 21.3% of the time
500 happens 19.8% of the time
-156 happens 58.9% of the time
With a total range of 716, how would I work out what the single average value is, using those percentages?
For example, if I had values of:
1000
0
1000 happened 50% of the time, and
0 happened 50% of the time,
the average value, using those percentages would be 500.
If 1000 happened 75% of the time, and
0 happened 25% of the time,
the average value using those percentages would be 750.
-
Here you would find the weighted average.
Multiply each number by its decimal percentage, and add them together.
1000*(.50) = 500
0 * (.5) = 0
500 + 0 = 500
1000*(.75) = 750
0*(.25) = 0
1000 + 0 = 1000
560(.213) = 119.28
500(.198) = 99
-156(.589) = -91.884
119.28 + 99 - 91.884 = 126.396
Multiply each number by its decimal percentage, and add them together.
1000*(.50) = 500
0 * (.5) = 0
500 + 0 = 500
1000*(.75) = 750
0*(.25) = 0
1000 + 0 = 1000
560(.213) = 119.28
500(.198) = 99
-156(.589) = -91.884
119.28 + 99 - 91.884 = 126.396