An analysis of monthly wages paid to workers | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(B) The variability of a distribution is determined by its standard deviation or variance when the means are equal.Given,variance of firm $A$ $(\sigma

Vedclass · Accepted Answer

Firm $B$

Vedclass · Answer

(B) The variability of a distribution is determined by its standard deviation or variance when the means are equal.Given,variance of firm $A$ $(\sigma_{A}^{2}) = 100$.Given,variance of firm $B$ $(\sigma_{B}^{2}) = 121$.Since the mean of monthly wages for both firms is the same $(Rs. 5253)$,the firm with the higher variance will show greater variability.Comparing the variances,$121 > 100$,which implies $\sigma_{B}^{2} > \sigma_{A}^{2}$.Therefore,firm $B$ shows greater variability in individual wages.

\text{Particulars}	\text{Firm } $A$ \text{ and Firm } $B$
\text{No. of wage earners}	$A: 586, B: 648$
\text{Mean of monthly wages}	$A: Rs. 5253, B: Rs. 5253$
\text{Variance of wages}	$A: 100, B: 121$

Class	$0-10$	$10-20$	$20-30$	$30-40$
Frequency	$1$	$3$	$4$	$2$

Similar Questions

For a set of observations,if the coefficient of variation is $25$ and the mean is $44$,then the variance is:

What is the standard deviation of the following series?

Class $0-10$ $10-20$ $20-30$ $30-40$

Frequency $1$ $3$ $4$ $2$

The mean and variance of a series of $5$ observations are $8$ and $24$ respectively. The mean and variance of another series of $3$ observations are $8$ and $24$ respectively. What is the variance of their combined series?

The variance of the first $50$ even natural numbers is

The standard deviation of the first $n$ odd natural numbers is ..........

Vedclass Test Series

Exam Paper Generator

Online Exam Module