Petty's only statistical technique is the use of simple averages.
It isn't a simple average based on all the scores the website has received, but a weighted average.
The prototype may be the simple average of the data in the identified cluster, or some other representative measure.
This means that, to a large extent, it is able to adjust for the quality of the homes sold, unlike simple averages.
The simple average of these increases over the last five years is 16.5 percent a year.
These data points are then combined (down-sampled) to the desired resolution, often just by a simple average.
It is a pattern-match method, rather than a simple weighted average.
The simple average of the scores of the three components is the market orientation score.
But looking at the simple average of all the companies, earnings per share are down a bit.
The default choice for the average is a simple moving average, but other types of averages can be employed as needed.