IBNR in insurance stands for "Incurred but Not Reported." It represents the estimated amount of claims that have already occurred but have not yet been officially reported to the insurance company. This is an essential concept in insurance for financial planning and setting reserves to cover potential future claims.
The average of 30 numbers was initially calculated as 45. However, it was later found that one of the numbers had been incorrectly recorded as 83 instea...
In nine innings of cricket, the average of a batsman is 59 runs. How many runs does he need to make it in the tenth inning to get the average score of 62?
The average of first three numbers of a set of six numbers is 60 .The average of the second, third and fourth numbers is 20 and the average of the third...
"The average age of all employees in a company is 23.5 years. The average age of male employees is 25.2 years, while the average ...
Average weight of a team of 8 persons is 50 kg. When one more person joins the team, the average weight of the team increases by 7 kg. Find the weight o...
The average age of 15 children and their teacher's age are 12 years. If the teacher's age is excluded, the average reduces by 2. What is the teacher's age?
Find the value√(2k+11) 
where ...
The average of 16 numbers is 37. If 3 is added to each number, then the new average will be:
The average of three numbers P, Q and R is 1600. R is 75% more than P. The ratio of P and Q is 4:5 respectively. If R is 25% less than S, then find out ...
The average of 10 numbers is 30. If one of the numbers is excluded, the average of the remaining numbers becomes 28. Find the excluded number.
