- 16 Marks
Question
The table below shows the range of bi-weekly income of a sample of 50 accountants of a multi-national accounting firm:
| Range of Income (GH₵) | Number of Accountants |
|---|---|
| 80 and Less than 100 | 5 |
| 100 and less than 120 | 4 |
| 120 and less than 150 | 12 |
| 150 and less than 170 | 7 |
| 170 and less than 200 | 8 |
| 200 and less than 250 | 9 |
| 250 and less than 300 | 5 |
Required:
i) Compute all the THREE measures of central tendency of the range of income and comment on the distribution. (8 marks)
ii) Compute the coefficient of variation of the range of income of the accountants. (7 marks)
iii) Interpret your answer in (ii). (1 mark)
Answer
Mean (X̄) = 
= 149.5 + 11.43
= 160.93
Mode = 
D1 = 12 – 4 = 8
D2 = 12 – 7 = 5
= 
= 119.5 + 18.46
= 137.96
Comment: Mode < Median < Mean, indicating a positively skewed distribution.
iii) Standard Deviation (S) = 
Coefficient of Variation (CV) = (S / X̄) * 100 = (54.0 / 169.7) * 100 = 31.84%
- Tags: Central Tendency, Coefficient of Variation, Dispersion, Mean, Median, Mode, Standard Deviation
- Level: Level 1
- Topic: Measures of Central Tendency
- Series: MAY 2018
- Uploader: Kwame Aikins