If you're looking to pit a single weight inside the wheel, that would be a static balance. Easily accomplished with an old bubble balancer. Not the best tire balance, read Jon's response, but better than nothing.
I was also taught to take the assembly off, mount it again in a different orientation and spin it another time to see what happens. Almost no shop does that today.
One thing I did see one shop owner do, which could make some sense, was to inflate the tire to set the beads. Then, let the air out of the tire until relaxed. Then final inflate. The idea is to get a full even seat of the beads against the rims. I asked one of my techs to do that on a job. He reported back that all four tires required minimal weights for dynamic balance. Almost out of normal for us. Of course, it was only one vehicle and they could've been close to balance already.
