S SuzMath1 New member Joined Apr 27, 2019 Messages 2 Apr 27, 2019 #1 I'm trying to figure this out for business. Can someone show how to figure it out?: 90% of my customers have a lifetime value of $46. 10% of my customers have a lifetime value of $1000. What is the average lifetime value of my customers?
I'm trying to figure this out for business. Can someone show how to figure it out?: 90% of my customers have a lifetime value of $46. 10% of my customers have a lifetime value of $1000. What is the average lifetime value of my customers?
MarkFL Super Moderator Staff member Joined Nov 24, 2012 Messages 3,021 Apr 27, 2019 #2 Hello, and welcome to FMH! I would use a weighted average to state: [MATH]\overline{x}=0.9\cdot46+0.1\cdot1000=[/MATH] ?
Hello, and welcome to FMH! I would use a weighted average to state: [MATH]\overline{x}=0.9\cdot46+0.1\cdot1000=[/MATH] ?
