Question

60 61 61 64 64 64 64 70 70 70 70 52 53 56 56 56 73 73 73 73 73 73 73 60 32 coefficient of wd method economics statistics
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Answer 1

Answer:

ANSWER:

Families

Monthly income

(X)

Deviation from the Assumed average

(d = X − A) (A = 75)

1

2

3

4

5

6

7

8 70

10

500

75 (A)

13

250

8

42 −5

−65

425

0

−62

175

−67

−33

(N) = 8

(ΣX)=968 Σd = −232 + 600 = 368

where,

N= Number of items

ΣX= Total of monthly income of all the families

Σd= net sum of deviations

Calculation of Mean by Direct Method

X=ΣXN=9688=121

Calculation of mean by short cut method

X=A+ΣdNor, X=75+3688or, X=75+46⇒X=121

So, mean monthly income of a family is Rs 121.

Explanation:

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