<%BANNER%>
Weighted Average Explanation and Example
ALL VOLUMES CITATION PDF VIEWER
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/AA00013202/00004
 Material Information
Title: Weighted Average Explanation and Example
Series Title: ARL-ACRL Human Resources Symposium
Physical Description: Handout
Language: English
Creator: Keith, Brian W.
Publisher: George A. Smathers Libraries, University of Florida
Place of Publication: Gainesville, FL
 Record Information
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: Applicable rights reserved.
System ID: AA00013202:00004

Downloads

This item is only available as the following downloads:

WeightedAverageExample ( PDF )


Full Text

PAGE 1

Methods for Establishing and Maintaining an Equitable Salary Structure ADDENDUM Weighted Averages

PAGE 2

A Refresher on Weighted Average A weighted average differs from a regular average because its calculation is affected by volume Allows the calculation of the aggregated average for sets of figures Salary Systems Faculty

PAGE 3

Weighted Average Example of Application: What is the average salary for a Chemistry Librarian? Salary Systems Faculty

PAGE 4

What is the average salary for a Chemistry Librarian? Salary Systems Faculty Years of Experience Chemistry Librarians Average Salary 0 5 2 $50,000 6 10 14 $60,000 11 15 1 $70,000

PAGE 5

What is the average salary for a Chemistry Librarian? Salary Systems Faculty Years of Experience Chemistry Librarians Average Salary Total Salaries 0 5 2 $50,000 $100,000 6 10 14 $60,000 $840,000 11 15 1 $70,000 $70,000

PAGE 6

What is the average salary for a Chemistry Librarian? Salary Systems Faculty Years of Experience Chemistry Librarians Average Salary Total Salaries 0 5 2 $50,000 $100,000 6 10 14 $60,000 $840,000 11 15 1 $70,000 $70,000 Years of Experience Chemistry Librarians Average Salary Total Salaries 0 5 2 $50,000 $100,000 6 10 14 $60,000 $840,000 11 15 1 $70,000 $70,000 total 17 total $1,010,000

PAGE 7

What is the average salary for a Chemistry Librarian? Salary Systems Faculty Years of Experience Chemistry Librarians Average Salary Total Salaries 0 5 2 $50,000 $100,000 6 10 14 $60,000 $840,000 11 15 1 $70,000 $70,000 total 17 total $1,010,000 Weighted Average = Total Salaries / total Librarians or $1,010,000 / 17 or $59,412

PAGE 8

Invitation: For further discussion, please contact me at bwkeith@ufl.edu or 352 273 2600