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Phil
01-26-2007, 03:35 PM
Suppose you have data that you plan to take a weighted average of:

Data__weight
300___0.30
200 ___0.40
100___0.15
200___0.15

Some people put a third column (I hate this, since it's useless and confusing) with the row products which they then total to get the w.avg. E.g. the third row would look like

90
80
15
30

What is this optional third column called? Does it make a difference if the weights sum to 1 or not? Thanks.

SamTheEagle
01-26-2007, 03:37 PM
Data * Weight, abreviated, of course, in such a way that you absolutely have to do no formatting to the column in question.

SamTheEagle
01-26-2007, 03:37 PM

notreallyme
01-26-2007, 03:40 PM
weighted contribution to the average?

Tony Romo
01-26-2007, 03:44 PM

Because your weights could be premium where you divide by total premium. I'd call the third column "scratch work" for uneducated spreadsheet users.

SamTheEagle
01-26-2007, 03:45 PM
Because your weights could be premium where you divide by total premium. I'd call the third column "scratch work" for uneducated spreadsheet users.

Oh, okay. I was thinking he meant a situation where his weights would add up to less than 1, and I was getting confused.

BallaActuary
01-26-2007, 03:52 PM
George? Pete? How 'bout Sam?

MyKenk
01-26-2007, 03:53 PM
Suppose you have data that you plan to take a weighted average of:

Data__weight
300___0.30
200 ___0.40
100___0.15
200___0.15

Some people put a third column (I hate this, since it's useless and confusing) with the row products which they then total to get the w.avg. E.g. the third row would look like

90
80
15
30

What is this optional third column called? Does it make a difference if the weights sum to 1 or not? Thanks.

I would label it "useless and confusing"

Pencil Pusher
01-26-2007, 03:57 PM
Oh, okay. I was thinking he meant a situation where his weights would add up to less than 1, and I was getting confused.Your premiums could be \$0.10, \$0.15, \$0.05, and \$0.30. That adds to less than \$1.

whisper
01-26-2007, 04:00 PM

No need for them to add to one, as long as you divide by the total.

I'd name it something like weighted product.

Emily
01-26-2007, 04:07 PM
Weighted Data. I use it all the time. It's not useless.

Patience
01-26-2007, 04:11 PM
Ionic?

_BullDog_
01-26-2007, 04:14 PM
Column that is yet to be named.

Chief Petosky
01-26-2007, 04:14 PM
What is this optional third column called?

Column C

Tony Romo
01-26-2007, 04:15 PM
Weighted Data. I use it all the time. It's not useless.

Do you use it for something other than the weighted average?

Rosebud
01-26-2007, 04:21 PM
Ionic?

You doric.

udjw828
01-26-2007, 04:24 PM
A waste of time and space?

Griffin 1
01-26-2007, 04:29 PM
What is this optional third column called?"Column 3"

SamTheEagle
01-26-2007, 04:30 PM

I get it now. I was thinking he was using proportions that add up to less than 1.

Kabaka
01-26-2007, 04:37 PM
Do you use it for something other than the weighted average?

If you are going to do a pivot table that you want to include the weighted average then you must have this column to work with (AFAIK). :geek:

Emily
01-26-2007, 04:41 PM
Do you use it for something other than the weighted average?
Well, yes and no. I use it to get something that you might call the weighted average, except I don't call it that. And it would be pretty confusing where that thing came from if there weren't a column that was labeled Weighted Data, which is actually called Weighted Count in this case. The weights themselves are pretty complex and don't add up to 1. A single step formula to calculate the weighted average would be hideous, although possible. It is much more clear with the extra column.

Chief Petosky
01-26-2007, 04:42 PM
If you are going to do a pivot table that you want to include the weighted average then you must have this column to work with (AFAIK). :geek:While on a cell in the pivot table, you can Insert ... Calculated Field...

Kabaka
01-26-2007, 04:44 PM
While on a cell in the pivot table, you can Insert ... Calculated Field...

= [name of weighted column]/[amount column unweighted]

Emily
01-26-2007, 04:51 PM
Do you use it for something other than the weighted average?
Actually, I want to change my answer. I have the weighted average to start with. I'm disaggragating, so I need that column to make the calculation clear.

Rockhound
01-26-2007, 04:56 PM
Actually, I want to change my answer. I have the weighted average to start with. I'm disaggragating, so I need that column to make the calculation clear.

:qunq: Disaggragated Factors :qunq: should make it clear to non-actuarial types.

1695814
01-26-2007, 05:16 PM
It's the "Dear Abby" column.

Loner
01-26-2007, 06:01 PM
It is "the column that is rendered unnecessary by the SUMPRODUCT() function."