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The median and modal profits for the following data Profit in ‘000 `: below 5 below 10 below 15 below 20 below 25 below 30 No. of firms: 10 25 45 55 62 65?
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The median and modal profits for the following data Profit in ‘000 `: ...
Median and Modal Profits for Given Data
Explanation:
Median:
- The median is the middle value of a set of data.
- In this case, the data is profit in thousands (‘000).
- To find the median, we need to arrange the data in order from least to greatest.
- The data is already arranged in order, so we just need to find the middle value.
- There are 272 firms in total, which means the middle value is the average of the 136th and 137th values.
- The 136th value is below 25 ‘000, and the 137th value is also below 25 ‘000.
- Therefore, the median profit is below 25 ‘000.
Modal:
- The mode is the most common value in a set of data.
- In this case, we need to find the profit value that occurs most frequently.
- We can see that the profit value below 30 ‘000 occurs 65 times, which is the highest frequency.
- Therefore, the modal profit is below 30 ‘000.
Conclusion:
- The median profit is below 25 ‘000, and the modal profit is below 30 ‘000 for the given data.
- The data shows that most firms have profits below 30 ‘000, and the middle value of profits is below 25 ‘000.
Explanation:
Median:
- The median is the middle value of a set of data.
- In this case, the data is profit in thousands (‘000).
- To find the median, we need to arrange the data in order from least to greatest.
- The data is already arranged in order, so we just need to find the middle value.
- There are 272 firms in total, which means the middle value is the average of the 136th and 137th values.
- The 136th value is below 25 ‘000, and the 137th value is also below 25 ‘000.
- Therefore, the median profit is below 25 ‘000.
Modal:
- The mode is the most common value in a set of data.
- In this case, we need to find the profit value that occurs most frequently.
- We can see that the profit value below 30 ‘000 occurs 65 times, which is the highest frequency.
- Therefore, the modal profit is below 30 ‘000.
Conclusion:
- The median profit is below 25 ‘000, and the modal profit is below 30 ‘000 for the given data.
- The data shows that most firms have profits below 30 ‘000, and the middle value of profits is below 25 ‘000.
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The median and modal profits for the following data Profit in ‘000 `: below 5 below 10 below 15 below 20 below 25 below 30 No. of firms: 10 25 45 55 62 65?
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The median and modal profits for the following data Profit in ‘000 `: below 5 below 10 below 15 below 20 below 25 below 30 No. of firms: 10 25 45 55 62 65? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The median and modal profits for the following data Profit in ‘000 `: below 5 below 10 below 15 below 20 below 25 below 30 No. of firms: 10 25 45 55 62 65? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The median and modal profits for the following data Profit in ‘000 `: below 5 below 10 below 15 below 20 below 25 below 30 No. of firms: 10 25 45 55 62 65?.
The median and modal profits for the following data Profit in ‘000 `: below 5 below 10 below 15 below 20 below 25 below 30 No. of firms: 10 25 45 55 62 65? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The median and modal profits for the following data Profit in ‘000 `: below 5 below 10 below 15 below 20 below 25 below 30 No. of firms: 10 25 45 55 62 65? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The median and modal profits for the following data Profit in ‘000 `: below 5 below 10 below 15 below 20 below 25 below 30 No. of firms: 10 25 45 55 62 65?.
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