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An analysis of monthly  wages paid to ...

An analysis of monthly  wages paid to workers in two firms A and B, belonging to the same industry, gives the following result and no. of workers of firm A and B are 586 and 648 respectively             No. of wage earners            Firm A                Firm B             Mean of monthly wages         Rs 5253           Rs 5253                                   Variance of the distribution    100                   121             of wages (i)         Which firm A or B pays larger amount as monthly wages? (ii)        Which firm, A or B, show greater variability in individual wages?

Text Solution

Verified by Experts

Here, Variance for firm A `= 100`
`:.`Standrad deviation for firm A `=10`
`:.`Coefficient of variation for firm A `CV_A=10**100/5253`
Variance for firm B `= 121`
`:.`Standrad deviation for firm A `=11`
`:.`Coefficient of variation for firm A `CV_B=11**100/5253`
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