I thought i figured it out, but when i tried to check my work, i came up with 99.9376% instead of 100% when i summed every-days contribution.
% Contribution of Individual Day to Month
Sorry for the vague subject header, but this problem is driving me crazy!!! . I'm trying to figure out the average volume distribution on a daily basis within a month as a percentage contribution. In other words, every Monday in August accounts for 5% of our volume for that month, every Tuesday accounts for 3.5%, every Saturday accounts for 1.5%, etc.
Here is the data that I have:
1)Days in month =31
2)Weeks in month =4.4
3)# of occurances for each day within month:
Mon, Sat, Sun = 5
4)% Contribution for each day within a normal week
5)Average Day contribution to week (day/days in week) =14.3%
6)Average Daily Contribution to month (day/days in month) =3.2%
How do i calculate the Daily contribution for each day over a month? Could anyone give me a hand?