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What is this kind of average called?-weighted average

  1. #1
    havocdragon
    Guest

    What is this kind of average called?-weighted average

    Ok so I know what a mean average and a weighted average is, and how to
    calculate them, however lets say I have the following info, and formula. what
    is this type of average called?

    A B
    1| Number of parts Age of parts
    2| 1 5
    3| 2 6
    4| 3 4
    5| 4 8
    6| 5 9

    So if you just did the regular age of parts average you get 6.4
    Where as the weighted average would be 3.31

    however my formula multiplies the sum of A2:A6 and multiplies it by the
    Average of B2:B6 getting the result of 96

    What kind of average is that called? or if thats not an average, what is
    that type of number called?



  2. #2
    Harlan Grove
    Guest

    re: What is this kind of average called?-weighted average

    havocdragon wrote...
    >Ok so I know what a mean average and a weighted average is, and how to
    >calculate them, however lets say I have the following info, and formula. what
    >is this type of average called?
    >
    > A B
    >1| Number of parts Age of parts
    >2| 1 5
    >3| 2 6
    >4| 3 4
    >5| 4 8
    >6| 5 9
    >
    >So if you just did the regular age of parts average you get 6.4
    >Where as the weighted average would be 3.31
    >
    >however my formula multiplies the sum of A2:A6 and multiplies it by the
    >Average of B2:B6 getting the result of 96
    >
    >What kind of average is that called? or if thats not an average, what is
    >that type of number called?


    I believe it's called a mistake.


  3. #3
    havocdragon
    Guest

    re: What is this kind of average called?-weighted average

    Thank you for that pointless peice of information.

    This was not a mistake, this is exactly the informatin I intended to
    generate as it isolates and quantifies a threshold number I am looking for
    between thousands of records.

    "Harlan Grove" wrote:

    > havocdragon wrote...
    > >Ok so I know what a mean average and a weighted average is, and how to
    > >calculate them, however lets say I have the following info, and formula. what
    > >is this type of average called?
    > >
    > > A B
    > >1| Number of parts Age of parts
    > >2| 1 5
    > >3| 2 6
    > >4| 3 4
    > >5| 4 8
    > >6| 5 9
    > >
    > >So if you just did the regular age of parts average you get 6.4
    > >Where as the weighted average would be 3.31
    > >
    > >however my formula multiplies the sum of A2:A6 and multiplies it by the
    > >Average of B2:B6 getting the result of 96
    > >
    > >What kind of average is that called? or if thats not an average, what is
    > >that type of number called?

    >
    > I believe it's called a mistake.
    >
    >


  4. #4
    Harlan Grove
    Guest

    re: What is this kind of average called?-weighted average

    havocdragon wrote...
    ....
    >This was not a mistake, this is exactly the informatin I intended to
    >generate as it isolates and quantifies a threshold number I am looking for
    >between thousands of records.

    ....

    Whatever it is, it's not an average. It may be a 'statistic', but the
    product of the sum of counts and the average of corresponding ages
    isn't an average. It may be some kind of accumulated age, but a simple
    SUMPRODUCT of counts and ages would give an accurate measure rather
    than a muddied estimate. If you had 1 part 10 years old and 9 parts 2
    years old, your statistic returns 60 while a SUMPRODUCT returns 28.


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