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Find median and modal profits Profit in 1000s no of firms Below 5 10 Below 10 25 Below 15 45 Below 20 55 Below 25 62 Below 30 65?
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Find median and modal profits Profit in 1000s no of firms Below 5 10 B...
Median:
To find the median profit, we need to arrange the profits in ascending order. The given profits are:
Below 5 - 10 firms
Below 10 - 25 firms
Below 15 - 45 firms
Below 20 - 55 firms
Below 25 - 62 firms
Below 30 - 65 firms

Step 1: Arrange the profits in ascending order:
Below 5 - 10 firms
Below 10 - 25 firms
Below 15 - 45 firms
Below 20 - 55 firms
Below 25 - 62 firms
Below 30 - 65 firms

Step 2: Find the total number of firms:
10 + 25 + 45 + 55 + 62 + 65 = 262 firms

Step 3: Find the position of the median:
Since there are 262 firms, the position of the median would be (262 + 1) / 2 = 131.5

Step 4: Find the median profit:
The median profit would be the profit at the 131.5th position. Since the position is not a whole number, we can take the average of the profits at the 131st and 132nd positions.

The profit at the 131st position is Below 25, and the profit at the 132nd position is also Below 25. Therefore, the median profit is Below 25.

Modal:
The modal profit is the profit that appears most frequently in the given data.

From the given data, we can see that the profit Below 25 appears the most number of times, with 62 firms having this profit. Therefore, the modal profit is Below 25.

Summary:
- The median profit is Below 25.
- The modal profit is also Below 25, with 62 firms having this profit.
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Find median and modal profits Profit in 1000s no of firms Below 5 10 Below 10 25 Below 15 45 Below 20 55 Below 25 62 Below 30 65?
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Find median and modal profits Profit in 1000s no of firms Below 5 10 Below 10 25 Below 15 45 Below 20 55 Below 25 62 Below 30 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 Find median and modal profits Profit in 1000s no of firms Below 5 10 Below 10 25 Below 15 45 Below 20 55 Below 25 62 Below 30 65? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find median and modal profits Profit in 1000s no of firms Below 5 10 Below 10 25 Below 15 45 Below 20 55 Below 25 62 Below 30 65?.
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