Q. 154.0( 2 Votes )

An analysis of monthly wages paid to workers in two firms A and B, belonging to the same industry, gives the following results:


(i) Which firm A or B pays larger amount as monthly wages?

(ii) Which firm, A or B, shows greater variability in individual wages?

Answer :

Here

Mean monthly wages of firm A = 5253


No. of wage earners = 586


Total amount paid = 586 × 5253 = 3078258


Mean monthly wages of firm B = 5253


No. of wage earners = 648


Total amount paid = 648 × 5253 = 340 3944


(i) Hence the firm B pays larger amount as monthly wages.


(ii) Variance of firm A = 100


standard deviation (σ)= √100=10


Variance of firm B = 121


Standard deviation (σ)=√(121 )=11


Since the standard deviation is more in case of Firm B that means in firm B there is greater variability in individual wages.

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