An analysis of monthly wages paid to workers in two firms A and B, belonging to the same industry, gives the following results::
|
Firm A |
Firm B |
|
|
No. of wage earners |
586 |
648 |
|
Mean of monthly wages |
Rs 5253 |
Rs 5253 |
|
Variance of the distribution of wages |
100 |
121 |
(i) Which firm A or B pays larger amount as monthly wages?
(ii) Which firm, A or B, shows greater variability in individual wages?
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Solution
(i) Monthly wages of firm A = Rs 5253
Number of wage earners in firm A = 586
∴Total amount paid = Rs 5253 × 586
Monthly wages of firm B = Rs 5253
Number of wage earners in firm B = 648
∴Total amount paid = Rs 5253 × 648
Thus, firm B pays the larger amount as monthly wages as the number of wage earners in firm B are more than the number of wage earners in firm A.
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