Q. 55.0( 1 Vote )

An analysis of th

Answer :

(i) Average weekly wages =


Total weekly wages = (Avg weekly wages)×(No. of workers)


Total weekly wages of Firm A = 52.5×586 = Rs 30765


Total weekly wages of Firm B = 47.5×648 = Rs 30780


Firm B pays a larger amount as Firm A


(ii) Here SD(firm A) 10 and SD (Firm B) = 11


Coefficient variance (Firm A) =


Cv (Firm A) = 19.04


Coefficient variance (Firm B) =


Cv (Firm B) = 23.15


Hence, Cv of firm B is greater that that of firm A, Firm B has greater variability in individual wages.


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