Question

Records at an insurance company showed that the first 30 customers made an average of 5 claims each through their lifetime. After the records of a further 75 customers had been assessed, the average claim rose to 6 per customer. What is the average number of claims by the last 75 customers only?

Answer 1

The average of the 75 customers will be 6.4.

How to calculate the value?

The first 30 customers made an average of 5 claims each. The total claims will be:

= (5 × 30) = 150

When 75 more people were assessed, the average was 6. Therefore, the total claims will be:

= (75 + 30) × 6

= 105 × 6

= 630

Therefore, the average of the 75 customers will be:

= (630 - 150)/75

= 480/75

= 6.4

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