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 9%. Assuming that average refers to the mean, which of the following claims must be true based on this information? Last year some of their clients made a profit of exactly 9%. Last year more than half of their clients made a profit of at least 9%. Last year some of their clients made a profit of at least 9%. Last year all of their clients made a profit of more than 3%. This year at least one of their clients will make a profit of at least 9%. None of the above statements is true.

Explanation / Answer

Only first three statements are correct

first statement: There can be a chance that some clients made a profit of exactly 9%

second statement : This could be true because even if there are more than half of their clients made a profit of atleast 9 there could be some clients who has very low profits, thus averaging it to 9%

third statement: This can happen, same reason goes here as well

fourth statement: We cannot comment anything on this

fifth statement: This may not happen

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