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For this question, assume that a group of individuals were asked to rate their application complexity: High, Medium, or Low Dataset: 7 High Responses, 3=Medium Responses , 4=Low Responses Weights: 3=High, 2=Medium, 1=Low Desired Result: I would like to have the resulting calculation return a "scale" value with an interval of 1-3. If I got a result of 1.2, that would indicate "low complexity", whereas a 2.7 result would indicate a "medium-high complexity" Thanks!
data series
Assuming the products are created from a dataset which contains each value once or more times by multiplying the each value by its frequency in the dataset, then the result of sum of products (of values by their frequencies) divided by sum of frequencies is the mean average of the all the values in the dataset.
Usually mu is the symbol for the mean of a probability distribution. It is sometimes used as the average of a dataset (also called the mean of the dataset), although I prefer to use "x bar".