Math, asked by rajracha2549, 10 months ago

From 2 firm a and b belonging to same industry the following details are available faim a number of employees 100 average monthly wages 4800 standard deviation 600 and firm b number of employees 200 average monthly wage 5100 standard deviation 540 find 1.which firms pays amount as wages 2.which firm show greater variability in the distribution of wages 3.find combined average monthly wages and the standard deviation of the wages of all the employees in both the firm

Answers

Answered by AditiHegde
4

From 2 firm a and b belonging to same industry the following details are available

Given,

The number of worker on firm A: Na = 100

The average monthly wages on firm A: Aa = 4800

Standard deviation = 600

The number of worker on firm B: Nb = 200

The average monthly wages on firm B: Ab = 5100

Standard deviation = 540

1.which firms pays amount as wages

Wage bill on firm A = Na × Aa = 100 × 4800 = 480000

Wage bill on firm B = Nb × Ab = 200 × 5100 = 1020000

480000 < 1020000

So, the firm B has larger wage bill.

2.which firm show greater variability in the distribution of wages

For firm A

Standard deviation σA = 600

The average monthly wages on firm A: Aa = 4800

The coefficient of variation = σA/Aa = 600/4800 =  0.125

For firm B

Standard deviation σB = 540

The average monthly wages on firm A: Ab = 5100

The coefficient of variation = σB/Ab = 540/5100 =  0.105

Higher the coefficient of variation, higher the variability.

Coefficient of variation of firm A is higher.

3.find combined average monthly wages and the standard deviation of the wages of all the employees in both the firm

The combined average monthly wages

= (4800 + 5100) / (100 + 200) = 9900/300 = 33

The combined standard deviation of the wages

= (600 + 540) / (100 + 200) = 1140/300 = 3.8

Similar questions