CMA Foundation · Fundamentals of Business Mathematics and Statistics · Statistical Representation of Data
A firm records the daily sales of 100 outlets (in Rs hundreds): 0-20 has 12, 20-40 has 18, 40-60 has 30, 60-80 has 24 and 80-100 has 16 outlets. Using the less-than ogive, the sales value below which 45% of outlets lie is:
The value is 50. Forty-five percent of 100 outlets is 45 outlets. The ogive passes through 30 at 40 and 60 at 60, so interpolation gives 40 + (15/30) x 20 = 50.
- A45
- B50Correct
- C55
- D60
Explanation
Cumulative frequencies at 20, 40, 60, 80, 100 are 12, 30, 60, 84, 100. The 45% height is 45, between (40, 30) and (60, 60). Value = 40 + (45-30)/30 x 20 = 50. The value 60 wrongly uses the upper limit of the class.
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