The annual profits earned by 30 shops of a shopping complex in a locality give rise to the following distribution:
Question:
The annual profits earned by 30 shops of a shopping complex in a locality give rise to the following distribution:
Draw both ogives for the above data and hence obtain the median.
Solution:
Firstly, we prepare the cumulative frequency table for less than type.
Again, prepare the cumulative frequency table for more than type
Now, “more than ogive” and “less than ogive” can be drawn as follows:
The x-coordinate of the point of intersection of the “more-than ogive” and “less-than ogive” gives the median of the given distribution..
So, the corresponding median is Rs 17.5 lakh.