Chris The Rock
Active Member
- Joined
- Feb 24, 2002
- Messages
- 287
This is a tough question to know how to ask, but I'll do my best. I feel like the answer may be easy, but I'm working off of a really tired brain.
To start, I know how to calculate Weighted Averages in Excel using SUMPRODUCT. What I'm trying to determine are the upper bound of a particular scenario.
Let's say that 4 widget shops are surveyed for Customer Satisfaction.
For the Customer Satisfaction target, the owner has decided to use the Weighted Average of all of the Customer Satisfaction survey results from all the widget shops.
A bonus can be awarded to a widget shop whose scores are above the Weighted Average. The bonus is on a sliding scale, such that being very high above the Weighted Average will yield the best bonus.
The issue I'm trying to solve is this: One of those shops handles the majority of widget production. That means they will have the most contribution to the weighted average, making it difficult/impossible to have a Customer Satisfaction score that is very high above the weighted average.
I'm looking for an equation (and possibly a corresponding excel formula, if it's really complicated) to determine what's the maximum percentage above the weighted average one widget shop can be, based on their contribution to the weighted average.
For example:
North - 65% of Volume
South - 15%
East - 10 %
West - 10%
Weighted Average (x) = 94%
If the weighted average of all the Customer Satisfaction scores is x, what's the equation (and possibly the correspoding excel formula) to find the highest score above x (94%) North could possibly achieve?
I wish I had remembered more Algebra.
Thanks in advance to anyone who can guide me. I don't know what to call this operation, or I would have started with Google.
To start, I know how to calculate Weighted Averages in Excel using SUMPRODUCT. What I'm trying to determine are the upper bound of a particular scenario.
Let's say that 4 widget shops are surveyed for Customer Satisfaction.
For the Customer Satisfaction target, the owner has decided to use the Weighted Average of all of the Customer Satisfaction survey results from all the widget shops.
A bonus can be awarded to a widget shop whose scores are above the Weighted Average. The bonus is on a sliding scale, such that being very high above the Weighted Average will yield the best bonus.
The issue I'm trying to solve is this: One of those shops handles the majority of widget production. That means they will have the most contribution to the weighted average, making it difficult/impossible to have a Customer Satisfaction score that is very high above the weighted average.
I'm looking for an equation (and possibly a corresponding excel formula, if it's really complicated) to determine what's the maximum percentage above the weighted average one widget shop can be, based on their contribution to the weighted average.
For example:
North - 65% of Volume
South - 15%
East - 10 %
West - 10%
Weighted Average (x) = 94%
If the weighted average of all the Customer Satisfaction scores is x, what's the equation (and possibly the correspoding excel formula) to find the highest score above x (94%) North could possibly achieve?
I wish I had remembered more Algebra.
Thanks in advance to anyone who can guide me. I don't know what to call this operation, or I would have started with Google.