Calculating Average Fees and Transaction Volumes Word Problem

[uptickk]

If I have 415 transactions and know there are only two types of transactions (H&L) with a total average fee of 1.4 and I know transaction H has an average fee of 1.20 can I calculate the average fee for L and the individual transaction volumes for both H and L? I should also note that the total fees for both transactions (H&L) is 581.

total transactions*total average fee=total fees (415*1.4 = 581)

Let H be the number of transactions of type H
Let L be the number of transactions of type L
Let X be the avg fee for a type L transaction

H+L=415
1.2H+XL=581EDIT - I left out that those transactions occur in 150 boxes. I don't think this adds to the equation but I could be very wrong.

It is possible I am not given enough information to come up with the missing values.

Any help would be greatly appreciated.

Thank you!

 

[jvicens]

Thank you for your question. I would like to provide you with some clarification and potential solutions to your problem.

Firstly, it is not possible to calculate the average fee for transaction type L without knowing the number of transactions for type L. In order to calculate the average, we need to know both the total fees and the total number of transactions for type L.

Secondly, based on the information given, it is not possible to calculate the individual transaction volumes for both H and L. We can only calculate the total number of transactions for type H and the total number of transactions for type L, but not the individual volumes.

As for the additional information about the transactions occurring in 150 boxes, it does not add to the equation and does not provide any additional information to help us solve the problem.

In order to accurately calculate the average fee for type L and the individual transaction volumes for both types H and L, we need to know the total number of transactions for type L. Without this information, we cannot accurately calculate the missing values.

I hope this helps clarify the situation. If you have any further questions, please feel free to ask.