UNIT II
Q. 2- An analysis of the monthly wages paid to workers
in two firms METRO and ORTEM, belonging to the
same industry, give the following result:
PARTICULARS FIRM
METRO ORTEM
Number of wages earners 586 648
Average monthly - wage
52.5 47.5
Standard deviation of wages
(1) Which firm METRO or ORTEM. Pays out the
larger amount as monthly wages?
(2) In which firm METRO or ORTEM. Is there
grater variability in individual wages?
10
Answers
Given : Analysis of the monthly wages paid to workers in two firms METRO and ORTEM,
To Find : (1) Which firm METRO or ORTEM, Pays out the larger amount as monthly wages?
(2) In which firm METRO or ORTEM, Is there grater variability in individual wages?
Solution:
METRO
Number of wages earners 586
Average monthly - Wage 52.5
Standard deviation of wages 10
Total Wages = Number of wages earners x Average monthly
=> Total Wages = 586 x 52.5 = 30,765
coefficient of variation = Standard deviation/Mean
= 10/52.5
= 0.19
ORTEM
Number of wages earners 648
Average monthly - Wage 47.5
Standard deviation of wages 11
Total Wages = Number of wages earners x Average monthly
=> Total Wages = 648 x 47.5 = 30,780
coefficient of variation = Standard deviation/Mean
= 11/47.5
= 0.23
ORTEM, Pays larger amount as monthly wages as 30,780 > 30,765
grater variability in individual wages is in ORTEM as coefficient of variation
0.23 > 0.19
Learn More:
if x and y are related by y =2x+5 and the sd and AM of x is known to ...
brainly.in/question/9556985
Find the coefficient of variation of the data 18,20,15,12,25 - Brainly.in
brainly.in/question/15192194
The variance of a set of data is 196 then the standard deviation of ...
brainly.in/question/9357590