(i) The coefficient of rank correlation of marks obtained by 10 students, in Statistics and Account was found to be 0.5. It was later discovered that…
BBS Business Statistics · 2080 · Solved Question with Answer
(i) The coefficient of rank correlation of marks obtained by 10 students, in Statistics and Account was found to be 0.5. It was later discovered that the difference in ranks in the two subjects obtained by one student was wrongly taken as 3 instead of 7. Find the correct coefficient of rank correlation.
(ii) An analysis of the monthly wages paid to workers in the firm A and B belonging to the same industry given the following results.
| Firm A | Firm B | |
| No. of workers | 500 | 600 |
| Average monthly wage (Rs). | 480 | 475 |
| Variance of distribution of wage (Rs). | 400 | 625 |
(a) Which firm pays larger wage bill?**
(b) In which firm is there greater variability in individual wages?**