Weighted average is a calculation that takes into account the varying degrees of importance of the numbers in a data set.
One advantage of using the weighted average method is consistency.
Formula to calculate weighted average in excel.
To find the weighted average in excel we’ll be required to to sum the product of the score and their weight then divide the result by the sum of the weights.
Example:
| Score | Weight |
| 60 | 20% |
| 82 | 70% |
| 98 | 5% |
| 92 | 5% |
We’ll begin by transferring the data to an excel spreadsheet.
Then we’ll type our formula.
After clicking OK we get our answer.
Therefore, your weighted average is 78.9.
