
Weighted average?
Hi All,
Firstly, apologies if I am posting this in the wrong section  this is my first post!
I have the following problem, I record for my staff the following information for each date.
The number of hours, the number of achieved and strike rate (achieved / hours).
I also have total figures for each of these for each date  Total hours, Total achieved & Total Strike Rate (Total achieved / Total Hours).
Normally we would look at a persons strike rate across over a period of months by adding up their total hours, total achieved and dividing total achieved by total hours, to give total strike rate. This enables us to compare each persons productivity (strike rate) which each others, enabling us to rank them.
On this particular project, there are many more variables which aren't easy to measure which can affect the individual strike rates and the overall strike rates. (Note, the number of hours, completes and people will vary from day to day).
We decided we'd also calculate a PV for each persons and each date. This is simply calculated by taking the persons strike rate on a given date and dividing by the total strike rate for that date. This is done for each person and each day.
What I'm unsure of is how to calculate the average PV for each person. I'd initially thought I can calculate it by the following:
(h1p1 + h2p2 + h3p3 + h4p4 + . . . + hkpk) / (h1 + h2 + h3 + h4 + . . . + hk)
h represents the hours
p represents the PV
I'm not sure if this is right, as I think a weight for the date hours need to be factored in as the date strike rate will vary and when few hours have been worked, the strike rate isn't so representative, just like the interviewer strike rate. As such, I'm not sure how I should be factoring this in, if at all.
I'm hoping someone can help with my problem along with a small explanation as to why it should be weighted how it is?
Thank you!