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What is the coefficient of range for the following wages of 8 workers?Rs. 80, Rs. 65, Rs. 90, Rs. 60, Rs. 75, Rs. 70, Rs. 72, Rs. 85.
  • a)
    Rs. 30
  • b)
    Rs. 20
  • c)
    Rs. 40
  • d)
    20%
Correct answer is option 'D'. Can you explain this answer?
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What is the coefficient of range for the following wages of 8 workers?...
Coefficient of Range:

The coefficient of range is a measure of dispersion that is calculated by dividing the range of data by the average of the data. It is usually expressed as a percentage.

Formula:

Coefficient of range = (Range / Average) x 100

Where,

Range = Highest value - Lowest value
Average = (Sum of values) / Number of values

Given data:

Rs. 80, Rs. 65, Rs. 90, Rs. 60, Rs. 75, Rs. 70, Rs. 72, Rs. 85

Calculations:

Range = 90 - 60 = Rs. 30
Average = (80+65+90+60+75+70+72+85) / 8 = Rs. 75.125

Coefficient of range = (Range / Average) x 100
= (30 / 75.125) x 100
= 39.92 (approx)
≈ 40%

Therefore, the coefficient of range for the given wages of 8 workers is 40%.
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What is the coefficient of range for the following wages of 8 workers?...
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What is the coefficient of range for the following wages of 8 workers?Rs. 80, Rs. 65, Rs. 90, Rs. 60, Rs. 75, Rs. 70, Rs. 72, Rs. 85.a)Rs. 30b)Rs. 20c)Rs. 40d)20%Correct answer is option 'D'. Can you explain this answer?
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What is the coefficient of range for the following wages of 8 workers?Rs. 80, Rs. 65, Rs. 90, Rs. 60, Rs. 75, Rs. 70, Rs. 72, Rs. 85.a)Rs. 30b)Rs. 20c)Rs. 40d)20%Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about What is the coefficient of range for the following wages of 8 workers?Rs. 80, Rs. 65, Rs. 90, Rs. 60, Rs. 75, Rs. 70, Rs. 72, Rs. 85.a)Rs. 30b)Rs. 20c)Rs. 40d)20%Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the coefficient of range for the following wages of 8 workers?Rs. 80, Rs. 65, Rs. 90, Rs. 60, Rs. 75, Rs. 70, Rs. 72, Rs. 85.a)Rs. 30b)Rs. 20c)Rs. 40d)20%Correct answer is option 'D'. Can you explain this answer?.
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