1. A method comprising: selecting a thread from a plurality of active threads on a processor; selecting a weighting value according to a thread state of the selected thread; determining whether one of the plurality of active threads is dispatching an instruction; in response to determining that one of the plurality of active threads is dispatching an instruction, computing, via one or more mathematical computations, a dispatch weighting value corresponding to the selected thread using the weighting value and a dispatch factor, wherein the dispatch factor indicates a weighting adjustment of the weighting value; and computing a resource utilization value of the selected thread using the computed dispatch weighting value.