If I use 62% of something for 5 months, but only 10% of the same thing for 7 months, how do I determine the percentage used for the whole year of 12 months?
If I use 62% of something for 5 months, but only 10% of the same thing for 7 months, how do I determine the percentage used for the whole year of 12 months?
This would be a "weighted" average. 5 months is 5/12 of the year and 7 months is 7/12 of the year: the average is (62)(5/12)+ (10)(7/12)= (310+ 70)/12= 380/12= 95/3= 31.33%.