Jagannath International Management School,

Kalka Ji, Delhi.

Subject – BUSINESS STATISTICS

Name- Aryan Purwar

Course- B.Com(Hons.)
Submitted to – Pooja Bisht
Question 1 - Plot a histogram depicting the following data.

Weekly Income Number Of Families

2000-4000 20
4000-6000 40
6000-8000 50
8000-10000 32
10000-12000 16
12000-14000 2

i. Identify the type of data given [2 mark].

Answer – The data given is a Continuous data.

ii. Plotting the data on the excel.

Answer –

Weekly Income Number Of Families

2000-4000 20
4000-6000 40
6000-8000 50
8000-10000 32
10000-12000 16
12000-14000 2

iii. Plotting the histogram using the graph paper.

Answer –
Question 2- Find the mean, median and mode from the following distribution of data:

Class Interval Frequency

0-20 30
20-40 33
40-60 32
60-80 35
80-100 37
100-120 24

𝜮(𝒎∗𝒇)
Answer - Mean =
𝜮𝒇
Class Interval Frequency m m*f
0-20 30 10 300
20-40 33 30 990
40-60 32 50 1600
60-80 35 70 2450
80-100 37 90 3330
100-120 24 110 2640
Σf= 191 Σ(m*f)=11310
𝜮(𝒎∗𝒇)
Mean =
𝜮𝒇
11310
Mean = = 59.2146 (Ans)
191

𝒇𝟏−𝒇𝟎
Mode (Z)= 𝒍 + ∗𝒊
𝟐𝒇𝟏−𝒇𝟎−𝒇𝟐

Class Interval Frequency

0-20 30
20-40 33
40-60 32
60-80 35
80-100 37
100-120 24
Modal Class = 80-100
Where, l is lower limit = 80
37−35
Mode= 80 + ∗ 20
2∗37−35−24

Mode= 82.666(Ans)
 𝑵
−𝒄.𝒇.
𝟐
Median = 𝒍𝟏 + ∗𝒊
𝒇
Class Interval Frequency C.F
0-20 30 30
20-40 33 63
40-60 32 95
60-80 35 130
80-100 37 167
100-120 24 191

𝑵 𝟏𝟗𝟏
= = = 95.5
𝟐 𝟐
Median class = 60-80
95.5−95
Median =60 + ∗ 20
35

Median= 60.2857 (Ans)

Question 3- Compute the Coefficient of Variation of the following data set,

which team is more consistent?

Mean Standard Deviation

Team A 100 12
Team B 80 10
𝜎
Coefficient of Variation = ∗ 100
µ
𝛴𝑥
µ=
𝑛
12
Coefficient of Variance for TEAM A = ∗ 100 = 12%
100
10
Coefficient of Variance for TEAM B= ∗ 100 = 12.5%
80

The more consistent team is TEAM B.

Difference between Standard Deviation and Variance:-
Variance
 Variance is a numerical
value that describes the
variability of observations
from its arithmetic mean.
 It is the average of squared
deviations.
 Sigma-squared (σ^2)
 How far individuals in a
group are spread out.
 Squared units
Standard Deviation
 Standard deviation is a
measure of dispersion of
observations within a data
set.
 It is the root mean square
deviation.
 Sigma (σ)
 How much observations of a
data set differs from its
mean.
 Same units as the values in
the set of data.