What information is required to calculate the weighted average processing time?

Weighted Average Days Late

You can calculate the average days late weighted for a closed invoice amount with at least one late payment. Days late are the number of days between the due date and the accounting date of the item activity that closed the item.

For example: The Weighted Average Days Late calculation informs you that your customer pays on average, 5 days late. However, that number is more meaningful when you know that the customer had an average of 25 days to make payments.

Formula:

Sum (Amount Due Remaining * Days Late) / Sum (Original Amount Due).

Weighted Average Days Paid

Weighted Average Days Paid is the number of days a customer takes to make payments. The average is weighted by the payment amount, on the assumption that a larger payment is more significant than a smaller payment.

For example: The weighted average terms are 25, plus the Weighted Average Days Late is 5. This means that your customer pays an average of 30 days from the invoice date. The 25 days that were allowed plus the 5 extra days taken.

A Weighted Average Mark (WAM) is calculated based on results for all completed subjects within a diploma or degree, where results are out of 100. This includes subjects for which you gained a failing score or grade. Ignore any subjects for which there are no scores, or where only a non-scoring pass or fail is possible.

Calculating a WAM is a three-step process:

1. Add up all credits for subjects where you have gained a result. This includes failing scores.
2. For each subject completed, multiply the subject’s credits by the final result score.
   • a. Now add each of these results together.
3. Divide the total reached in 2a by the total credits. This will give you your WAM.

WAM =

sum(subject credits * subject result)
sum of all credits

There is no difference in how subjects are calculated based on when they were completed. In a WAM calculation, first-year subjects have the same weighting as final-year subjects.

Looking at an example:

SubjectCreditsResultCredits * ResultEnglish Writing685510Introduction to Business675450Statistics 1480320Advanced Mathematics873584Economics 10187056020th Century History61272Introduction to Philosophy678468Economics 1028PassN/AStatistics in Practice665390Total50--3354  WAM67.08

Using the above example:

1. Sum of credits (excluding non-score subject): 6+6+4+8+8+6+6+6 = 50
2. Sum of credits * results: (6*85)+(6*75)+(4*80)+(8*73)+(8*70)+(6*12)+(6*78)+(6*65) = 3354
3. 3354 divided by 50 = 67.08

This student’s WAM is 67.08.

Converting into a single-letter grade from a transcript of letter grades

If your transcript shows only letter grades, you must figure out an average grade overall. This can be done in the
following way:

1. Add up all credits for subjects where you have gained a grade. This includes failing grades.

On your transcript, there should be a grading scale or reference that translates your letter grades into number scores.

1. Using this reference information, convert all of your letter grades into numerical scores.
2. For each subject, multiply the number of credits by the converted score.
   1. Now add each of these results together.
3. Divide the total reached in 3a by your total credits.
4. Convert the number found in item 4 back into a letter grade using the transcript reference.

Possible grading scale:

Letter GradeNumber ScoreA80 – 100B70 – 79C60 – 69D50 – 59F0 – 49No score for Pass/Fail only subjects

Example subjects and grades

When there is a range of scores for each grade, convert to the median score.

A = 90, B = 75, C = 65, D = 55, F = 0. A fail always = 0.

Using the above example:

1. Sum of credits (excluding non-graded subject): 6+6+4+8+8+6+6+6 = 50
2. Convert all grades: 90, 75, 90, 75, 55, 0, 75, 65
3. Sum of credits * results: (6*90)+(6*75)+(4*90)+(8*75)+(8*55)+(6*35)+(6*75)+(6*65) = 3230
4. 3230 divided by 50 = 64.6
5. Convert back to a letter using the grading scale: 63.6 = C

This student’s overall grade is: C.

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