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 what would I work out what the average value is, using those percentages?
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 what would I work out what the average value is, using those percentages?
-
The weighted average of the 3 numbers would be calculated like this
weighted average = 560 * (0.213) + 500 * (0.198) + -156 * (0.589)
= 126.396
so the weighted average is 126.396.
weighted average = 560 * (0.213) + 500 * (0.198) + -156 * (0.589)
= 126.396
so the weighted average is 126.396.