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What is weighted arithmetic mean? Give formula. |
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Answer» While calculating arithmetic mean, sometimes, it is essential to give weightage to various items according to their importance. For example, there are two commodities oranges and radish. You are interested in finding the average price of oranges and radish. We may give importance to the rise in price of oranges for which weights are to be given. To calculate the average of both the products we use weighted arithmetic mean. |
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