e.g: Weighted mean = (2 * 1 + 3 * 2 + 4 * 3) / (2 + 3 + 4) = 11 / 9 = 1.22222
To calculate the weighted mean, you need two sets of data: the values and their corresponding weights. The weighted mean is obtained by multiplying each value by its corresponding weight, summing up these products, and dividing the result by the sum of the weights.
Here's the step-by-step process to calculate the weighted mean:
Here are some additional examples of how the weighted mean can be used: