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Math Help - Percentages and Stats

  1. #1
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    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%

    cheers
    d
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  2. #2
    Grand Panjandrum
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    Quote Originally Posted by daveb9874 View Post
    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%

    cheers
    d
    Ignoring the fact that the time windows are not the same.

    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%

    CB
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