Hi there,
I have a basic question since I want to understand this correctly.
This is regarding the weighted average example in 5th edition of strategy guide 3 on pages 56-57.
The problem definition is scattered over a few paragraphs of explanations here. But in summary, it is given that 20 and 30 have weights a and b in the ratio 3:1. And we need to find the weighted average.
But can someone please clarify how 22.5 and 28 are derived ? And what are these values? What does "Simply write the ratio as fraction, and use the Nr and Dr as weights" mean?
Appreciate the help.
Thanks.