Key Terms
- Percentage
- A ratio out of 100 used to express share, increase, or decrease.
- Base value
- Reference number against which percentage is calculated.
- Percentage point
- Absolute difference between two percentages (not the same as percent change).
Use weights to model importance. Formula: (sum(value × weight) ÷ sum(weights)).
Weighted average of multiple values
Weighted Average = (sum(value × weight) ÷ sum(weights))