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Business Statistics Notes - Numericals
Business Statistics Notes - Numericals
Business Statistics Notes - Numericals
fm 362025.85
N 1440
Example 10. Calculate the arithmetie mean from the following data:
No. of students
Marks
More than 0 30
More than2 28
More than 4 24
More than 6 18
More than 8 10
Solution: Since, cumulative frequencies are given, first we find the simple frequencies
Calculation of Arithmetic Mean
Marks No. of students Mid-value A =5 d'=d 2
(m) d =m-5
0-2 30-28=2
-2
2 28-24 = 4
3
4-6 24 18 =6
6-8
5 A 0
18-10=8 +2
8-10 10 9 4
N 30
oMissing Frequency
Example 11. From the
following data, calculate the missing value when its mean is 115.86:
Wages (Rs.): 110 112 13 117 125 128 130
No. of workers: 25 17 13
15 14 8 6 2
Solution: Let the missing item be denoted by a
F
N
or
I15.86= 9906 +14a
100
or 115.86 x 100 = 9906 + 14a
or 14a 1680
a =6 8 0
Or
14
a=120
100 1 N 100
N
50 250 +50
From (i), 2.5+
100 100
300
=3
100
X =3, N = 100
i s t a k e in
a
mean. The
copying,
certain items may be wrongly taken in calculatingthe=
cC problem now arises is to find out correct mean. In this case, withoum
the
ne
g arithmetic mean from the beginning, we can directly calculate the arithmetic
mean
process is very simple. Wrong
values are deducted and correct values are added to 2X. Then
coTect 2X is divided
by the number of observations. The result, thus, obtained will give us the
correct mean.
The
following examples would illustrate the procedure:
Example 19. The mean of 100 items is 80. By mistake one item is misread as 92 instead of 29. Find
Find
the correct mean.
Solution: We are given, N =100, X =80
=or X =NX
K (Incorrected) =100 x80 = 8000
8000+29- 92
7937
Corrected Mean =. Corrected 7957=79.37
N 100
Example 20. The mean of 5 observations is 7. Later on, it was found that two observations 4 and8
were wrongly taken instead of 5 and 9. Find the correct mean.
Solution: We are given, N =5, X =7
o r X =N
X (Incorected) = 5 7 =35
Corrected ZX =35 +Correct item -
Incorrect item
=35+5+9-4-8
37
Corrected7=Corrected DX 37
N
Example 29. Caleulate median from the following data:
22, 16, 18., 13, 15, 19, 17, 20, 23
Solution: The data is first arranged in ascending order
Sr. No. Items (X)
13
2 15
3 16
4 17
5 18
6 19
20
8 22
9
23
N 9
Hence, M 18
With the cumulative ireque ucnedian,
from the following data:
Example 32. Calculate the median
12 14 16 18 20
X: 10 22
5 12 20 10 7
2 3
Calculation of Median
Solution:
X c.
10 2 2
12 5 7
14 12 19
16 20 39 M
18 10 49
20 7 56
22 3 59
N= 59
M Size N+1
=
of| th item.
2
Solution: Since we are given inclusive series, firstly we convert it into exclusive one by
deducting 0.5 from the lower limits and adding 0.5 to the upper limits.
Calculation of Median
Value
0.5-10.5 4 4
10.5-20.5 12 16
20.5-30.5 20 36
30.5-40.5 9 45
40.5-50.5 5 50
N 50
N 0
Median item = Size of| th item th =25th item.
2 2
-C.f.
M= +2 xi
25-16 9
20.5+ x10=20.5+x10 20.5 +4.5 =25
20 20
M=25.
Thus, 2 s =26
following data:
and Pro from the
Example 44. Calculate O.23 .Dg 200, 210
181, 187, 190, 192,
180,
120, 150, 170,
order:
The data is first
arranged in ascending
Solution: X
Sr. No.
120
1
150
2
3 170
4 180
5 181
6 187
7 190
8 192
9 200
10 210
N 10
Dg Size of
=
N+th
10
item 10+1)
10
Size of 9.9 item.
-
Size of 9th item +0.9 (Size of 10th item -9th item)
200+(210-200)
10
200 +9=209
PrO=Size of oN +th item = 7010+1)= Size of 7.7th item
100 100
=
Size of 7th item +0.7 (Size of 8th item -
Wages c.
22 22
0-10
10-20 38 60
20-30 46 106
30-40 35 141
40-50 19 160
N 160
-c.f.
Thus, + x i
N -c.f.
Thus, + 4 xi
f
30+ 0010 34
35
2 34
D Size of th item 8 (160) th iten
=
Size of
10 10
=
Size of 128th item
D lies in the class 30-40
8N - c.f.
Thus, D,= + 10 xi
128-106
30+ x10 36.29
35
D 36.29
S6 N-C.j.
Thus, Ps +100 - xi
89.6-60
20+ x10 26.43
46
Ps6 26.43
Example 47. Calculate Median, Quartiles, 6th decile and 70th percentile from the
following data:
Marks less than: 80 70 60 50 40 30 20 10
No. of students: 100 90 80 60 32 20 13
0-10 5
10-20 8 13
20-30 20
30-40 12 32
40-50 28 60
50-60 20 80
60-70 10 90
70-80 10 100
N= 100
46
item
Nh T00- Size of 50th
=
class 40-50
Median lies in the
+6.42 46.42
=40+x 10=40
Median= 46.42
= =25th item
S i z e of th item 4
4
-h +
f
-xi=30+ 25-20x10
12
X i =5 0 + / 5 - 6 0
x10
20
= 50+x 10 50+7.5 =
57.5
20
57.5
D Size ofth item =*=
10" 10
60th item.
D lies in the class 40-50.
D= N-c.f.
+10
xi=40 +00-32x
f 10
10
28
28
=40+x
28
10=50
D 50
n l e 52. From the following data, calculate the percentage of workers getting wages:
() more than Rs. 44.
(ii) betwcen Rs. 22 and Rs. 58.
Wage (in Rs.): 0-10 10-20 20-30 |30-10 40-50 5060 60-70 70-800
Number of workers: 20 45 85 160 70 55 35 30
Solution:
Wage (in Rs.) Number of workers c.J.
0-10 20 20
10-20 45 65
20-30 85 50
100,
-c.f xi » 44 40+ K00
100
70
10
4 = SK-310 5K = 338
4
7
K 67.6
67.6% workers get less than Rs. 44.
.
Percentage of workers getting more than Rs. 44
=
100% -
67.6%
32.4%
P class is 50-60.
N
k -c.f.
100)
Now. P + XI
f
S00
-380
58 50+ 100 x 10
55
8 K-380)x2
88 10K- 760
K= 84.8
84.8% workers get less than Rs. 58.
. Percentage of workers getting between Rs. 22 and Rs. 58
=
84.8%- 16.4% =
68.4%
o Calculation of Range
oIndividual Series
Example 1. Five students obtained the following nmarks in statistics:
20, 35, 25, 30, 15
Find the range and coefficient of Range.
Solution: Here, L = 35, and S = 15
Range =L-S
Range 35 15 20
Coeflicient of Range =
L+S
-35-15-20=
35+15 50 5
+0.40
Find out ra
3. Find out range and the coetticient of range of the
Example
following series:
Size: 5-10 10-15 15-20 20-25 25-30
Frequcncy: 4 9 15 30 40
Solution:
Range L-S
Here, L=Upper limit of the largest class =30, S = Lower limit ofthe smallest class = 5
Range = 30-5 2 5
30+5 35 7
Note: Since the maximum and minimum ofthe observations are not identifiable for a continuous
series, the range is defined as the difference between the upper limit of the largest class and
the lower limit ofthe smallest class.
Example 4. Find out range and coefficient of range of the following series:
Marks: 20-29 30-39 40-49 50-59 60-69
No. ofstudents: 8 12 20 7 3
Solution: This is an inclusive series. For the calculation of range, the series must be converted
into exclusive series as:
39.5-49.5 20
49.5-59.5
59.5-69.5 3
Here, L= 69.5, S =
19.5
Range= 69.5 -
19.5 50
69.5-19.5 50
Coefficient of Range =0.562
69.5+19.5 89
4.36 Statistics tor Management
Example 4.10
Calculate mean, median and mode from the following data relating to
mill production of a ste
on 60 days. steel
Production
(in Tons per day) 21-22 23-24 25-26 27-28
Number of Days 13
29-30
22 10
8
Solution:
The first step is to prepare a Table given below for facilitating calculation
of location. of various
measures
Class Interval
Frequency Mid Point of
Canlctrve
Class Interval
Frequency
Median and 20.5-22.5
21.5 150.5
Modal 22.5-24.5 13 23.5 305.5
Interval 24.5-26.5 22 20
25.5 561.0
26.5-28.5 10
28.5-30.5 27.5 275.0
8 52
29.5 236.0
Summation 60 60
1528.0
i) Mean =2 1528.0 =
=
60 25.47
- f.
(ii) Median =
L»» 2 X Wm
Jm
where,
Lm is the lower limit of the median class internal
S is the frequency of the median class interval
i s the cumulative frequency up to the
interval just before the median class-interval
w is the width of the median class-interval
n is the number of total observations.
60
24.5 +2
-20x2
22
24.5+ 30 20
25.41
dnd Dispersion
Measures or c e n d i Tenaency
4.37
Jm-Jo
(ii) Mode =
Lm +
X Wm (4.13)
2- fo-S
where,
Lis the lower point of the modal class interval
i s the frequency of the modal class interval
f is the frequency of the interval just before the modal interval
i s the frequency of the interval just after the modal interval
w. is the width of the modal class interval
In this example,
Lm24.5
Sm 22
Jo 13
h= 10
2
Therefore,
22-13
Mode 24.5+ 44-13 -10
x 2
24.5 +Zx2