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Measures of Central Tendency — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMeasures of Central Tendency3 Marks
Question
What is weighted mean? When is it useful?
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Answer

Weighted Mean is an average computed by giving different weights to some of the individual values.
Basically you use a weighted mean when the data holds different "weights"/ group sizes i.e. if you were looking for the mean of the number of people to visit a shop during its opening hours and you were told x went in the morning and y in the afternoon but the shop was open 3 hours in the morning and 6 in the evening just adding the two and dividing by 2 would not give you the correct average per hour.
So you would need to weight the means i.e. $\frac{(3\text{x}+6\text{y})}{9}$ would be you actual average per hour as opposed to $\frac{(\text{x}+\text{y})}{2}.$

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