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Weighted Avg

Posted on 2011-03-10
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I'm having a senior moment.  If I have a table like this, what's the formula for a weighted average?  Is the value I have on the right correct?
TYPE      COUNT      SR RATE      WEIGHTED AVG
APPLE      24      8%      1%
BANANA      36      40%      9%
ORANGE      1      0%      0%
CHERRY      15      21%      2%
GRAPE      27      33%      5%
LIME      2      0%      0%
LEMON      10      18%      1%
STRAWBERRY      41      16%      4%
BLUEBERRY      10      28%      2%
Grand Total      166      25%      24%
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Question by:error_prone
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by:TommySzalapski
ID: 35099408
It's hard to see exactly what you are doing. Are you trying to get the average SR Rate?
In that case, multiply each count*sr_rate and divide the total by the total count. I get a little over 26%.
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by:TommySzalapski
ID: 35099438
Oh, yes I see what you did. The way you did it works just fine except you round too much.
Do it without rounding and you'll get close to 26.48
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by:TommySzalapski
ID: 35099457
Oops. I typed a number wrong. You actually would get around 23.518.
I would still do the calcutations without rounding and then round at the end if desired, but you are correct and have done it a correct way.
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by:TommySzalapski
ID: 35099480
For example: If you change the 33% on Grape to 34%, then the actual weighted average is around 23.68 but you get 25 if you round each number first.
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TommySzalapski earned 500 total points
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Here's the spreadsheet I used for calculations in case you find it useful.
weighted-average.xls
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by:error_prone
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Thanks
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