Ex 15.3, 3 - An analysis of monthly wages paid to workers - Co-efficient of variation

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  1. Chapter 15 Class 11 Statistics
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Ex15.3, 3 An analysis of monthly wages paid to workers in two firms A and B, belonging to the same industry, gives the following results: • Which firm A or B pays larger amount as monthly wages? Ex15.3, 3 An analysis of monthly wages paid to workers in two firms A and B, belonging to the same industry, gives the following results: (ii) Which firm, A or B, shows greater variability in individual wages? Variance in firm A = 100 Standard deviation in firm A = ﷮𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒﷯ = ﷮100﷯ = ﷮102﷯ = 10 Variance in firm B = 121 Standard deviation in firm B = ﷮𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒﷯ = ﷮121﷯ = ﷮112﷯ = 11 Since mean in both the firms is same, i.e., Rs.5253, Therefore, the firm with greater standard deviation will have more variability. Thus, the plant B has greater variability in the individual wages.

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