Percentages and Stats
Hi, I have a question in regards to the following.
There are two sets of Data - A, and B
In Data Set A we have details regarding car insurance policies for an insurance company over a defined period (eg 2004 - 2009)
In Data Set B we have details regarding insurance claims over a defined period (eg 2007 - 2009) for the same insurance company.
I would like to check if the following calculations would make sense.
Data Set A has been sorted via customer segments. Hence we can say that customers in the (mature professional age 25-30) accounted for 25% of the customer base for the insurance company.
Data set B has also been sorted via customer segments. Here we find that customers in the (mature professsional age 25-30) accounted for 10% of the claims.
Would it make sense to then conclude that the expected number of claims from the mature professional segment would be ( 10%*25%) = 2.5%
Ignoring the fact that the time windows are not the same.
Originally Posted by daveb9874
Suppose there are 1000 customers, of whom 250 are matures.
Also if there are 20 claims, 2 of which will be from matures.
So the claims per mature would be 2/250<1%