A method of calculating a worker’s daily exposure to a hazardous substance [such as chemicals, dusts, fumes, mists, gases, or vapors] or agent [such as occupational noise], averaged to an 8-hour workday, taking into account the average levels of the substance or agent and the time spent in the area. A time-weighted average is equal to the sum of the portion of each time period [as a decimal, such as 0.25 hour] multiplied by the levels of the substance or agent during the time period divided by the hours in the workday [usually 8 hours]. OSHA uses this guideline to determine permissible exposure limits [PELs] and it is essential in assessing a worker’s exposure and determining what protective measures should be taken. Also see permissible exposure limit.
You can calculates the Weighted Average Terms of the customer, which is the average number of days allowed for a customer before payment is due. This is weighted according to the item amount. This calculation is based on your customer's due date of the installment and the terms offered. You can only include the closed and fully paid transactions of your customers.
You can impose limits on the number of days allowed to a customer to make the payment with multiple payment terms. Based on which you can either request for immediate payment or offer terms such as:
NET 30
30 / 60 / 90
These terms imply the credit health of your customer. In general, more favorable terms are offered to credit worthy customers and less favorable to customers at risk.
Formula:
Sum [Original Amount Due *Terms] / Sum [Original Amount Due].
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:
- Add up all credits for subjects where you have gained a result. This includes failing scores.
- For each subject completed, multiply the subject’s credits by the final result score.
- a. Now add each of these results together.
- 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:
- Sum of credits [excluding non-score subject]: 6+6+4+8+8+6+6+6 = 50
- Sum of credits * results: [6*85]+[6*75]+[4*80]+[8*73]+[8*70]+[6*12]+[6*78]+[6*65] = 3354
- 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:
- 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.
- Using this reference information, convert all of your letter grades into numerical scores.
- For each subject, multiply the number of credits by the converted score.
- Now add each of these results together.
- Divide the total reached in 3a by your total credits.
- 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
SubjectCreditsGradeConverted ScoresCredits * ScoresEnglish Writing6A90540Introduction to Business6B75450Statistics 14A90360Advanced Mathematics8B75600Economics 1018D5544020th Century History6F00Introduction to Philosophy6B75450Economics 1028PassN/AN/AStatistics in Practice6C65390Total503230WAM = 63.663.6 = CWhen 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:
- Sum of credits [excluding non-graded subject]: 6+6+4+8+8+6+6+6 = 50
- Convert all grades: 90, 75, 90, 75, 55, 0, 75, 65
- Sum of credits * results: [6*90]+[6*75]+[4*90]+[8*75]+[8*55]+[6*35]+[6*75]+[6*65] = 3230
- 3230 divided by 50 = 64.6
- Convert back to a letter using the grading scale: 63.6 = C
This student’s overall grade is: C.
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UpdatedThursday, 21 January 2021 2:42 PM [this date excludes nested assets]Feedbackadmissions@uwa.edu.auContent ID3c4f2f8c-0b55-497a-ae83-12eec517b238