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}	$A: 100, B: 121$

Similar Questions

If the standard deviation of the first $n$ natural numbers is $2$,then the value of $n$ is

Consider three observations $a, b,$ and $c$ such that $b = a + c$. If the standard deviation of $a + 2, b + 2, c + 2$ is $d$,then which of the following holds true?

The variance of the observations $2, 3, 5, 7, 11, 13, 17, 22$ is

Find the variance of the sequence $a, a + d, a + 2d, \dots, a + 2nd$.

The $S.D.$ of the first $n$ natural numbers is

Vedclass Test Series

Exam Paper Generator

Online Exam Module