Explain the reasoning underlying the name of the weighted-average method.

Essentials of Business Analytics (MindTap Course List)
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Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
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Chapter2: Descriptive Statistics
Section: Chapter Questions
Problem 10P: Consider the following frequency distribution. Construct a cumulative frequency distribution.
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Explain the reasoning underlying the name of the weighted-average method.

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