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Consider the following data: $\quad\mathrm{}$ \begin{array}{|l|c|c|}
\hline & Factory - A & Factory - B \\
\hline Mean wage of workers & ₹ 540 & ₹ 620 \\
\hline Standard deviation of wages & ₹ 40.50 & ₹ 31 \\
\hline
\end{array} What is the variability in the wages of the workers in Factory $-A ?$
Options:
\hline & Factory - A & Factory - B \\
\hline Mean wage of workers & ₹ 540 & ₹ 620 \\
\hline Standard deviation of wages & ₹ 40.50 & ₹ 31 \\
\hline
\end{array} What is the variability in the wages of the workers in Factory $-A ?$
Solution:
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Verified Answer
The correct answer is:
$50 \%$ less than the variability in the wages of the workers in Factory-B
Coefficient of variation $=\frac{\text { S.D }}{\text { Mean }} \times 100$
For factory $\mathrm{A}=\frac{40 \cdot 50}{540} \times 100=7.5$
For factory $\mathrm{B}=\frac{31}{620} \times 100=5$
Variability in wages of $\mathrm{A}$ is $50 \%$ more than the variability in wages of B.
For factory $\mathrm{A}=\frac{40 \cdot 50}{540} \times 100=7.5$
For factory $\mathrm{B}=\frac{31}{620} \times 100=5$
Variability in wages of $\mathrm{A}$ is $50 \%$ more than the variability in wages of B.
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