Join Eddie Davila for an in-depth discussion in this video Weighted mean, part of Statistics Foundations: 1.
- A mean, or an average,…is good when all data points are created equal.…But sometimes, some data points…are more important than others.…Let's consider an academic course as our example.…If the professor had four exams,…and these were your four exam scores,…calculating your average would be easy, 80%.…But in many courses, instructors will also have quizzes,…homework, and term papers.…
In those cases, exams are usually worth more than quizzes,…and homework, and term papers,…may also have their own values.…How do we figure out a student's average…in a class like this?…For this, we will use a weighted mean.…Let's figure out how to calculate a weighted mean,…and then discuss issues that should be considered…in calculating and interpreting a weighted mean.…So, let's look at how weighted means are calculated.…
First, let's consider the weights of each category.…Let's say our class has two exams,…each worth 30% of the total grade.…The quizzes are worth 10% of the grade, as is the homework.…The term paper is worth 20% of the grade.…
Author
Eddie Davila
Released
9/18/2016Professor Eddie Davila covers statistics basics, like calculating averages, medians, modes, and standard deviations. He shows how to use probability and distribution curves to inform decisions, and how to detect false positives and misleading data. Each concept is covered in simple language, with detailed examples that show how statistics are used in real-world scenarios from the worlds of business, sports, education, entertainment, and more. These techniques will help you understand your data, prove theories, and save time, money, and other valuable resources—all by understanding the numbers.
- <b>Learning Objectives</b>Why statistics matter
- Evaluating your data sets
- Finding means, medians, and modes
- Calculating standard deviation
- Measuring distribution and relative position
- Understanding probability and multiple-event probability
- Describing permutations: the order of things
- Calculating discrete and continuous probability distributions
Skill Level Beginner
Duration
Views
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Introduction
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Welcome2m 20s
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1. The World of Statistics
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Is my data set good?3m 42s
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2. The Center of the Data
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Weighted mean4m 25s
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3. Data Variability
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4. Distribution and Relative Position
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5. Probability Explained
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Defining probabilty3m 46s
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Examples of probability3m 46s
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Types of probability4m 53s
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6. Multiple Event Probability
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Even more of Bayes theorem3m 53s
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7. How Objects Are Arranged
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8. Discrete vs. Continuous Probability Distributions
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9. Discrete Probability Distributions
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Expected monetary value4m 10s
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10. Continuous Probability Distributions
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Fuzzy central limit theorem2m 11s
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Conclusion
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Video: Weighted mean