Question 1156210: Following is the frequency distribution of profits (in Rs. Lakhs) of 60 companies:
Profits (Rs. Lakhs) No. of companies
Below 10 5
10-20 12
20-30 20
30-40 16
40-50 5
Above 50 2
(i) Find an appropriate measure of central tendency
(ii) Find an appropriate measure of dispersion
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Following is the frequency distribution of profits (in Rs. Lakhs) of 60 companies:
Profits (Rs. Lakhs) No. of companies
Below 10 5
10-20 12
20-30 20
30-40 16
40-50 5
Above 50 2
(i) Find an appropriate measure of central tendency
Use the mark of each class as that classes' value.
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Then:: mean = (5*5+12*15+20*25+16*35+5*5*45+2*55)/60 ~ 27
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(ii) Find an appropriate measure of dispersion
Using a TI-84 Plus
List L1 with the class marks:: 5,15,25,35,45,55
List L2 with the frequencies:: 5,12,20,16,5,2
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Press: Stat; 2-Var Stat; ENTER
Standard deviation = 18.7
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Cheers,
Stan H.
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