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#1
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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
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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
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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
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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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