Ques: There are 2 firms A & B belonging to the same industry .Firm A employs
550 workers and Firm B employs 650 workers.
Firm A Firm B
Number of wage earners 550 650
Average daily workers 100 95
Variance of the distribution of wages 90 120
a) Which firm A & B pays out large amount as daily wages?
In which firm A & B is there greater variability in individual wages?
c) What are the measures of (i) average daily wages and (ii) standard
deviation in the distribution of individual wages of all workers in the two
firms taken together?
I know all the variance, SD, Mean formulae. I just don't know how to start this question. Can someone help me out for just starting it?
