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Math Help - Formula help at work

  1. #1
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    Formula help at work

    Hi,

    I'm coding a software that prints out the average month to date balance of a customer maintained for any given day.

    I do this by calculating daily average balances and storing it in a database

    But now I need to give it for a single day without generating it on a daily basis.

    My available information on a daily basis is:

    1. Opening balance
    2. Closing balance
    3. Month start balance
    4. Day of the month

    So if the if today's 10th of July I may have this data for a customer

    1st July balance = 10,000
    10th July Closing balance = 7000
    10th July Opening Balance (9th July's closing balance) = 8000

    And its the 10th day, so my average would be calculated from the 1st July to the 10th of July and of course of 1st July avg month to date balance = 10,000


    Is there a formula?
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  2. #2
    mfb
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    Re: Formula help at work

    You have just these 3 values? In this case, using the average of 1st July (opening?) balance and 10th July closing balance should be reasonable.
    You could take the 9th July closing balance into account, but it would not improve the average much. Maybe assume a linear dependence between your values. Here, it would be 9/10*(10000+8000)/2+1/10*(7000+8000) where 9/10 represent the 9 days (out of 10) between the two values and 1/10 is the single day at the end. Note that you can simplify the equation a bit, but it is easier to understand in this shape.
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  3. #3
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    Re: Formula help at work

    Let me add and correct my previous example

    I got 10th July avg balance too...

    My real objective is to give a formula to my end user to confirm if the avg balance I'm giving him is correct since at that stage he only has...


    My user needs to confirm if the avg balance I'm giving him is correct or not.

    Now the trick is that obviously the balance could have changed multiple times, high or low from the 1st of the month to the 10th of the month

    To give you guys a better idea how my program calculates daily avg balances here is a snapshot from my database:

    Code:
    DATE	      DAY	OPBAL	CLSBAL	AVGBAL	        Comments
    1-Jul-12	1	10000	10000	10000.00	Same as close bal on 1st of month
    2-Jul-12	2	10000	10000	10000.00	((Prv day avg balxPrv day no.) + Close balance) / Day no.
    3-Jul-12	3	10000	7000	9000.00	        ((Prv day avg balxPrv day no.) + Close balance) / Day no.
    4-Jul-12	4	7000	7000	8500.00	        ((Prv day avg balxPrv day no.) + Close balance) / Day no.
    5-Jul-12	5	7000	7000	8200.00	        ((Prv day avg balxPrv day no.) + Close balance) / Day no.
    6-Jul-12	6	7000	7000	8000.00	        ((Prv day avg balxPrv day no.) + Close balance) / Day no.
    7-Jul-12	7	7000	7000	7857.14	        ((Prv day avg balxPrv day no.) + Close balance) / Day no.
    8-Jul-12	8	7000	7000	7750.00	        ((Prv day avg balxPrv day no.) + Close balance) / Day no.
    9-Jul-12	9	7000	7000	7666.67	        ((Prv day avg balxPrv day no.) + Close balance) / Day no.
    10-Jul-12	10	7000	7000	7600.00	        ((Prv day avg balxPrv day no.) + Close balance) / Day no.
    But on 10th of July my report is designed in such a away that the user gets all the rows of each customer's position on 10th of July only.


    So he has this data on 10th of July.

    Date: 10-Jul-12 Day of month: 10 Opening Balance: 7000 Closing Balance: 7000 Avg Balance: 7600.00 Month start balance: 10000

    Now how does he verify 7600 is the correct avg balance?
    Last edited by Awesomesid; July 10th 2012 at 11:29 PM.
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  4. #4
    mfb
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    Re: Formula help at work

    There is no way to check this.
    Simple example: Assume that the balance did not change at day 3 (as in your example), but at day 9. The average would be different, but all other entries of day 10 would be the same.
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