How do I calculate the weighted average between a percentage and a number?
For $120\%$ and $88$, assuming that $120\%$ weighs $60\%$ and $88$ weighs $40\%$.
For context for 120% it is based off this formula , 6/5 =1.2 which is 120%
So basically in a contact center environment 120% is the average handling time which is 6 minutes divide by 5 tasks worked on and 88 is another metric which I would like to weigh in which is the satisfaction score out of a 100
I think that what you call "weighted average" really should be called "multivariable criteria".
Suppose I have three different types: houses (H), cars (C) and trees (T). There are several groups, each having a different number of H,C,T.
I have two groups:
(a) $2H, 1C, 5T$
(b) $3H, 4C, 2T$
Now I select "importances" (a.k.a. "weights") to my criteria:
Number of houses is $30$% of my decision, number of cars is $10$% and trees is the rest ($60$%). You see, having more H is better than having more C, but worst than more T.
Now I calculate points:
For (a): $2·30 + 1·10 + 5·60 =\;\;370$
For (b): $3·30 + 4·10 + 2·60 =\;\;250$
So te winner is (a)
This kind of "average" allows to mix different types into a unique criterium.