An investment company advertised that last year its clients, on average, made a

Question

An investment company advertised that last year its clients, on average, made a profit of 10%. Assuming that average refers to the mean, which of the following claims must be true based on this information? Note: More than one statement could be true. If none of the statements is true, mark the appropriate box. Last year at least one of their clients made a profit of exactly 10%. Last year some of their clients made a profit of 10% or more. Last year, the number of their clients who made a profit of made a profit of more than 10% This year some of their clients will make a profit of at least | less than 10% was equal to the number of their clients who 10%. Last year at least one of their clients made a profit of more than 16%. None of the above statements is true.

Explanation / Answer

2. Last year some of their clients made a profit of 10% or more.

The avearge can be 10% only if some clients had return 10% or more.

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