Weighted average

A weighted average combines values by multiplying each by a specified nonnegative weight, then dividing their sum by the sum of the weights. Values with larger weights contribute more.

Arithmetic mean: The sum of a set of values divided by the number of values. Equal weights make a weighted average identical to this familiar mean.
Grade point average: A summary of academic grades calculated from course grades and their credit weights. Course credits commonly determine how strongly each grade affects the overall result.
Mean: A measure of central tendency that summarizes a set of values with a single representative number. A weighted average is one way to calculate a mean when observations differ in influence.
Median: The middle value of an ordered dataset, or the midpoint of its two middle values. Unlike a weighted average, it depends on rank rather than weighted magnitude.
Normalization: A transformation that rescales quantities to satisfy a chosen convention, such as summing to one. Dividing weights by their total turns them into proportions without changing the average.
Price-weighted index: A stock-market index in which each component’s influence depends on its share price. It is a weighted average whose weights derive from constituent share prices.
Weight (mathematics): A numerical factor that represents the relative influence assigned to a quantity in a calculation. Each input’s weight specifies its contribution before normalization.
Mode (statistics): The most frequently occurring value in a dataset. It identifies the most common value rather than combining values by weighted magnitude.
Convex combination: A linear combination whose coefficients are nonnegative and sum to one. Normalized weights make the result a convex combination of the values.
Inverse-variance weighting: A method that weights measurements inversely to their estimated variances. More precise measurements receive greater influence in a pooled estimate.

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