The Dow Jones Industrial average is a price weighted index.
View page
You can't convert an unweighted average into a weighted average
simply by adding something. You have to do the whole calculation
for the weighted average.
View page
in weighted average method we assigns the weight to the averages
while in average methods we dnt do this
View page
weighted average is an average in which each quantity to be
averaged is assigned a weight. These weightings determine the
relative importance of each quantity on the average.