After settlement, the average weekly wage in a factory had increased from Rs. 8 to 12 and standard deviation had increased from Rs. 1 to 1.5. The wages have become higher and more uniform, after settlement. Comment.
Coefficient of Variation
Earlier Average weekly wages
Mean
Standard Deviation
Coefficient of Variation
After settlement, Average weekly wages = 12
Mean = 12
Standard Deviation = 1.5
Coefficient of Variation
Hence wages have become higher is Correct
Coefficient of Variation is same
Hence no impact on uniformity wages have become more uniform is not correct
Wages have become higher is Correct but more uniform is not correct
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