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Walks do not count in slugging percentage.
Batting average and slugging percentage are similar. Whereas batting average measures the percentage of the time you get a hit, it counts all hits equally. Slugging percentage counts them as 1 for singles, 2 for doubles, 3 for triples, and 4 for home runs. So it's the same information as batting average, with a little more info because bigger hits count more.
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