Results 1 to 2 of 2

Math Help - Need help determining actual units from weighted percent

  1. #1
    Newbie
    Joined
    Feb 2013
    From
    East Coast USA
    Posts
    2

    Need help determining actual units from weighted percent

    Hello, all. I put this question in the statistics forum because I believe it fits best here.

    Could someone please explain to me the steps I would have to take to solve the following problem? To be clear, I'm not looking for an answer to the problem, but just the steps I must take to solve it correctly.

    Of 150 customers who were eligible to receive a reward for their patronage, 85 customers received 5 different kinds of rewards, each with a different value (i.e., reward 1 was worth so many points, reward 2 was worth so many points, etc.) The value of the rewards increases with reward type and when combined, yielded a weighted reward rate of 101.8%. I'm assuming that because the weighted reward rate is not higher, more lower value rewards were distributed than higher value ones. What I need to determine is exactly how many of each kind of reward was given to each of the 85 customers (for example, 15 customers got reward 1, 20 got reward 2, etc.)

    What I've done so far:

    Because I'm terrible at this, I assumed that as long as my calculations equaled 101.8%, I had reached the right answer. I set up an excel sheet that is designed to determine weighted averages in test scores and came up with this:

    REWARD PERCENT WEIGHT CONTRIBUTION

    Level One .982 .1 .0982

    Level Two .018 .2 .018

    When you add the two contribution figures you get .1018. Converted to a percentage, this equals 101.8%.

    I thought I was on the right track doing this but my wife suggested that I had not accounted for all of the levels. With that in mind, two additional questions: am I indeed on the right track, and would one be correct in saying that because the weighted reward rate is low, more lower valued rewards were distributed? Any help is enormously valuable and appreciated!
    Last edited by AMDB9; February 25th 2013 at 09:34 AM.
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Newbie
    Joined
    Feb 2013
    From
    East Coast USA
    Posts
    2

    Re: Need help determining actual units from weighted percent

    If I've asked this question incorrectly or it cannot be answered based on the way I've asked it, please tell me.
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. actual age graphs help
    Posted in the Algebra Forum
    Replies: 2
    Last Post: September 8th 2009, 04:47 PM
  2. Actual After-Tax Rate of Return.
    Posted in the Business Math Forum
    Replies: 1
    Last Post: July 13th 2009, 04:30 PM
  3. Percentage of data into a ACTUAL #
    Posted in the Advanced Statistics Forum
    Replies: 1
    Last Post: April 27th 2009, 01:29 AM
  4. Replies: 3
    Last Post: November 15th 2008, 05:18 AM

Search Tags


/mathhelpforum @mathhelpforum