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 :


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.

Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
view all courses