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The weighted arithmetic mean is similar to an ordinary arithmetic mean (the most common type of average), except that instead of each of the data points contributing equally to the final average, some data points contribute more than others.
In statistical quality control, the EWMA chart (or exponentially weighted moving average chart) is a type of control chart used to monitor either variables or attributes-type data using the monitored business or industrial process's entire history of output. [1]
Weighted arithmetic mean an arithmetic mean that incorporates weighting to certain data elements. Truncated mean or trimmed mean the arithmetic mean of data values after a certain number or proportion of the highest and lowest data values have been discarded. Interquartile mean a truncated mean based on data within the interquartile range. Midrange
Smoothing of a noisy sine (blue curve) with a moving average (red curve). In statistics, a moving average (rolling average or running average or moving mean [1] or rolling mean) is a calculation to analyze data points by creating a series of averages of different selections of the full data set.
The result of this application of a weight function is a weighted sum or weighted average. Weight functions occur frequently in statistics and analysis , and are closely related to the concept of a measure .
In statistics, there are many applications of "weighting": Weighted mean; Weighted harmonic mean; Weighted geometric mean; Weighted least squares
The moving ranges involved are serially correlated so runs or cycles can show up on the moving average chart that do not indicate real problems in the underlying process. [ 2 ] : 237 In some cases, it may be advisable to use the median of the moving range rather than its average, as when the calculated range data contains a few large values ...
The mean of a set of observations is the arithmetic average of the values; however, for skewed distributions, the mean is not necessarily the same as the middle value (median), or the most likely value (mode). For example, mean income is typically skewed upwards by a small number of people with very large incomes, so that the majority have an ...