Weighted Average

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Weighted Average

by logitech » Thu Jan 15, 2009 11:17 pm
A weighted average multiplies each data point by an arbitrary 'weight' and divides by the sum of the weights. Your everyday garden variety average, or arithmetic mean, is actually a special case of a weighted average, except all the weights are equal to 1.
X= 4

Y = 8

AV = 6

4---6---8

Notice the distance to average from both sides are the SAME (2)

Now let's find the average of 4, 4, 4, 8

AV = 20/4=5

4..5........8

Now if you notice the distance between 4 and AVERAGE is 1 and the distance between 8 and AVERAGE is 3

since we used 3 fours our average shifted close to the 4.

if you compare the distances

4...L...5....3L.....8

L/3L = 1/3 gives us the weights of the each term in a reverse proportion:

from this distance information you can conclude

3 fours
1 eight

Play around with this concept and you will find it very useful in many mixture and average questions.

Happy studying,
LGTCH
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by logitech » Thu Jan 15, 2009 11:18 pm
Stuart Kovinsky wrote:
dferm wrote:During a sale, a clothing store sold each shirt at a price of $15 and each sweater at a price of $25. Did the store sell more sweaters than shirts during the sale?

(1) The average (arithmetic mean) of the prices of all the shirts and sweaters that the store sold during the sale was $21.

(2) The total of the prices of all the shirts and sweaters that the store sold during the sale was $420

Please explain..

Thanks.
This question is much simpler if we think of concepts rather than specific arithmetic.

(1) Well, $21 is closer to $25 than it is to $15. Therefore, $25 must have more "weight" in the weighted average equation. The only way that $25 could have more weight is if there were more items sold at $25 than at $15: sufficient.

(2) We still have too many variables (2) and not enough equations (1): insufficient.

(1) is sufficient and (2) isn't: choose (A).
LGTCH
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by yalanand » Thu Jan 15, 2009 11:23 pm
thank you logi.....

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by nitinrai » Thu Jan 15, 2009 11:39 pm
Great Advice Man!!!
After Stacey .... I really like reading your stuff .. If Stacey is GMAT Queen then you are definately Gmat king .. (atleast for Quant L:))
I firmly believe that one can succeed at almost anything for which one has unlimited enthusiasm.