from the following data find which firm is paying largest amount of total salary and average salary two firm taken together firm A no. of workers 300 and salary 220 firm B no.if workers 200and salary 300
Answers
Answer:
Here, Variance for firm A =100
∴Standrad deviation for firm A =10
∴Coefficient of variation for firm A CVA=10∗1005253
Variance for firm B =121
∴Standrad deviation for firm A =11
∴Coefficient of variation for firm A CVB=11∗1005253
(i) Firm A pays amount as monthly wages = No. of earners∗Mean =586∗5253
Firm B pays amount as monthly wages = No. of earners∗Mean =648∗5253
Clearly, firm B pays more monthly wages.
(ii) As, we can see coefficient of variation is more in case of firm B.
so, firm B shows greater variability in individual wages.
Explanation:
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Answer:
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Explanation:
Number of wage earner in firm A=586
Mean of monthly wage of firm A=Rs5253
Mean of monthly age of firm A =
No. of wage earners in firm A
Total amount paid
5253=
586
Total amount paid
Total amount paid by Firm A =5253×586
Number of wage earner in firm B=648
Mean of monthly wage of firm B=Rs5253
Mean of monthly age of firm B =
No. of wage earners in firm B
Total amount paid
5253=
648
Total amount paid
Total amount paid by Firm B =5253×648
Clearly, firm B paid larger amount as monthly wage.
(ii) Variance of the distribution of wages in firm A (σ
1
2
)=100
∴ Standard deviation of the distribution of wages in firm A(σ
1
)=
100
=10
Variance of the distribution of wages in firm B(σ
1
2
)=121
∴ Standard deviation of the distribution of wages in firm B(σ
2
)=
121
=11
The mean of monthly wages of both the firms is same i.e.5253. So, the firm with greater standard deviation will have more variability.
Thus firm B has greater variability in the individual wages