Definitions for "weighted average"
An average that takes into account the proportional relevance of each component, rather than treating each component equally.
The mean of the form: where a1 and a2 are weighting factors and are the values to be average.
A number that is derived by multiplying the number of responses for each rating times the value of that rating, totaling those figures, and then dividing by the total number of respondents answering that question.
A representative value for a set of numbers given by the sum , where the numbers are the weights. The weights are usually assigned positive values that sum to unity. If all the weights are equal, the weighted mean reduces to the arithmetic mean.
a more sophisticated approach, that independently weighs each process, for example by Planned Production Time, or even by the aggregate value of the product produced