Question

Find out the mean profits from the following frequency distribution
Profit per shop
(in Rs)
Number of shops

100 - 20010
200 - 30018
300 - 40020
400 - 50026
500 - 60030
600 - 70028
700 - 80018

Medium
Updated on : 2022-09-05
Solution
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Calculation of Mean
Profit
(in Rs)
No. of 
shops 
Mid-point

Deviation 

100 - 20010150-300-300
200 - 30018250-200-3600
300 - 4002050-100-2000
400 - 500267000
500 - 60030901003000
600 - 70030901005600
600 - 800187503005400
1505400
Hence by assumed mean method 

= 450 + 36 = 486
Therefore mean profit is Rs 486

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