Simple and Weighted Averages

Simple Averages

Simple average of a set of values is determined by dividing the sum total of all the values by the number of values in the set.

The formula of simple average can be expressed as follows:

Simple average = (Total of x1 + x2+x3…..+xn)/n

Where;

    x = values in the set

    n = number of values in the set

Weighted average

Weighted average is a means of determining the average of a set of values by assigning weightage to each value in relation to their relative importance/significance.

The formula of weighted average can be expressed as follows:

Weighted average = (Total of x1w1+ x2w2+x3w3…..+xnwn)/(Total of w1 +w2+w3….+wn)

Where;

    x = values in the set

    w = weightage of each value in the set

    n = number of values in the set

Related

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Perform calculations by using the AVERAGE function

Returns the average (arithmetic mean) of the arguments. For example, if the range A1:A20 contains numbers, the formula =AVERAGE(A1:A20) returns the average of those numbers. Syntax AVERAGE(number1, [number2], ...) The AVERAGE function syntax has the following arguments: Number1    Required. The first number, cell reference, or range for which you want…

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