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? - Noon Academy

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?

Class 11 | Exercise 15.3 | Maths | NCERT | Statistics

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?

Solution:-

(i) According to the given table,

Mean monthly wages of firm A = Rs

$5253$

and Number of wage earners =

$586$

Then,

Total amount paid =

$586\text{ }\times \text{ }5253$

= Rs

$3078258$

Mean monthly wages of firm B = Rs

$5253$

Number of wage earners =

$648$

Then,

Total amount paid =

$648\text{ }\times \text{ }5253$

= Rs

$34,03,944$

therefore, firm B pays larger amount as monthly wages.

(ii) given Variance of firm A =

$100$

So, standard deviation

$\left( \sigma \right)=\text{ }\sqrt{100}$

=

$10$

Given Variance of firm B =

$121$

Then,

Standard deviation

$\left( \sigma \right)=\sqrt{121}$

=

$11$

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

i

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