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The advantages of using weighted averages are that it smooths out fluctuations due to statistical outliers. The disadvantage is that this gives a uniformity in the statistics and can make it difficult to project trends.
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What are the advantages of weighted average?
More importance can be attached to observations which are either of greater importance, accuracy (lesser variance).
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A flow weighted average is found by dividing the total load over the estimation time by the total stream flow.
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In addition to the observed values, a weighted average needs weights. No weights are given.
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The advantages of using weighted average cost is that it is consistent, the formula is very simple to use and their is less paperwork. This method, however, makes it difficult to follow the ups and downs of the market if prices change frequently.
What are the advantages of the weighted average method?
Consistent product cost is used.
What are the advantages of weighted average?
More importance can be attached to observations which are either of greater importance, accuracy (lesser variance).
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