Question

A sample of quarterly amounts invested in Ethan-Jaden Company by its employees is depicted in the table below;

Answer 1

We have to find

(i) How many employees invest in the company

(ii) Estimate the mean amount invested

Solution:

(i) Total number of employees invest in the company = $4+8+24+44+20+10+2+6=118$

(ii) Mean amount invested $\bar X = \dfrac{\sum f_ix_i}{\sum f_i}$

Now, Mean $\bar X = A+ \dfrac{\sum fd}{n}\cdot h$

$= 52.5+\dfrac{(-100)}{118}\cdot 5\\\ \\=52.5+(-0.8475\cdot 5)\\=52.5-4.2373\\=48.2627$