The following results show the number of workers and the wages paid to

1.	The following results show the number of workers and the wages paid to them in two factories F1 and F2.FactoryABNumber of workers36003200Mean wagesRs 5300Rs 5300Variance of distribution of wage10081Which factory has more variation in wages?
Answer» Mean wages of both the factories = Rs. 5300 Find the coefficient of variation (CV) to compare the variation. We know, CV = SD/Mean x 100, where SD is the standard deviation. The variance of factory A is 100 and the variance of factory B is 81. Now, SD of factory A = √100 = 10 And, SD of factory B = √81 = 9 Therefore, The CV of factory A = 10/5300 x 100 = 0.189 The CV of factory B = 9/5300 x 100 = 0.169 Here, the CV of factory A is greater than the CV of factory B. Hence, factory A has more variation in wages.

The following results show the number of workers and the wages paid to them in two factories F1 and F2.FactoryABNumber of workers36003200Mean wagesRs 5300Rs 5300Variance of distribution of wage10081Which factory has more variation in wages?

Answer»

Mean wages of both the factories = Rs. 5300

Find the coefficient of variation (CV) to compare the variation.

We know, CV = SD/Mean x 100, where SD is the standard deviation.

The variance of factory A is 100 and the variance of factory B is 81.

Now, SD of factory A = √100 = 10

And, SD of factory B = √81 = 9

Therefore,

The CV of factory A = 10/5300 x 100 = 0.189

The CV of factory B = 9/5300 x 100 = 0.169

Here, the CV of factory A is greater than the CV of factory B.

Hence, factory A has more variation in wages.

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