Question

The median and modal profits for the following data
Profit in '000 below 5 below 10 below 15 below 20 below 30
No. of firms: 10 25455562 65

Answer 1

Answer:

median Profit = 11.875

modal profit = 11.67

Step-by-step explanation:

                  cf          Frequency

0-5              10              10

5-10             25             15

10-15            45             20

15-20           55            10

20-25          62            7

25-30          65            3

Median Lies in group 10-15

Estimated Median = 10  +  5 * ( 65/2 - 25)/20

= 10 + 1.875

= 11.875

Mode lies in 10-15 also as max frequency = 20

Estimated Mode = 10  + 5 * (20 - 15)/((20-15) + (20-10))

= 10 + 25 /15

= 10 +  1.67

= 11.67

Answer 2

Answer:

Step-by-step explanation:

Class. C.F. F

0 - 5. 10. 10

5 - 10. 25. 15

10 - 15 45. 20

15 - 20. 55. 10

20 - 25 62. 7

25 - 30 65. 3

Median = l + ( n/2 - CF ) i ÷ f

= 10 + ( 32.5 -25 ) 5 ÷ 20

= 11.875 ×1000

= 11875

Mode = l + ( f1 - f0 ) i ÷ (2f1 - f0 - F2 )

= 10 + ( 20 -15 ) 5 ÷ (40 - 15 - 10)

= 10 + 1.667

= 11.667

= 11667