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Calculation for Discrete Series or Ungrouped Data
where,
f = frequency
X = variable
In a survey of 50 chemical industries, the following data was collected about the level of profits attained by them:
Xi = Level of profit (Rs. lakh) earned during 20x1-x2
fi = No. of companies that earned Xi amount of profit
Xifi
20
16
24
25
31
12
15
8
7
240
192
175
248
Total
50
1095
The arithmetic mean is
Thus, the average profit of the chemical industry is Rs.21.90 lakh
give me question on mean is the aimplest average to understand and easy to compute
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