Methods for average
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I'm developing a web application that will calculate the average price of cars on sale, from different car dealers, that we have in our database. What I'm looking for is some information on methods to calculate averages other than just a normal average of all items. I have searched the net for alternate methods, but haven't come up with a lot. I could use a weighted average, but it's not that easy to weight the items. Currently I'm reducing stray values by taking the middle 80% of the items and calculate the average price on those. I dont have anything substantial on how this really affects the result, though. I would appreciate any information on average calculation methods, even just buzzwords for searching the net. --- b { font-weight: normal; }
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I'm developing a web application that will calculate the average price of cars on sale, from different car dealers, that we have in our database. What I'm looking for is some information on methods to calculate averages other than just a normal average of all items. I have searched the net for alternate methods, but haven't come up with a lot. I could use a weighted average, but it's not that easy to weight the items. Currently I'm reducing stray values by taking the middle 80% of the items and calculate the average price on those. I dont have anything substantial on how this really affects the result, though. I would appreciate any information on average calculation methods, even just buzzwords for searching the net. --- b { font-weight: normal; }
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I Love Wikipedia![^] :cool:
"..Commit yourself to quality from day one..it's better to do nothing at all than to do something badly.." -- Mark McCormick
|| Fold With Us! || Pensieve || VG.Net ||
Thanks. Now at least I know that I use a "truncated mean", and that most other alternatives are unapplicable. I also managed to translate this term to swedish ("trimmat medelvärde") after a lot of searching (the swedish version of Wikipedia doesn't even mention it). So I will still be using the same method, but now I can motivate it better. :) --- b { font-weight: normal; } -- modified at 8:14 Friday 13th January, 2006