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What is the coefficient of variance of distribution of wages of a firm with 600 workers whose average…

Given average wage \(\bar{X} = 200\) and variance \(\sigma^2 = 100\), the standard deviation is \(\sigma = \sqrt{100} = 10\). The Coefficient of Variation is \(\text{CV} =…

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What is the coefficient of variance of distribution of wages of a firm with 600 workers whose average wage is ₹ 200 and the variance of distribution of wages among workers is 100 ?

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Given average wage Xˉ=200\bar{X} = 200 and variance σ2=100\sigma^2 = 100, the standard deviation is σ=100=10\sigma = \sqrt{100} = 10. The Coefficient of Variation is CV=σXˉ×100=10200×100=5%\text{CV} = \frac{\sigma}{\bar{X}} \times 100 = \frac{10}{200} \times 100 = 5\%.

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