Question

Calculate arithmetic mean of the following data:

Profit ( in ₹)	:	0-10	10-20	20-30	30-40	40-50	50-60
No of shops	:	12	18	27	20	17	16

Answer 1

Profit (in Rs)	Mid Value (m)	No. of Shops Frequency (f)	fm
0 − 10 10 − 20 20 − 30 30 − 40 40 − 50 50 − 60	5 15 25 35 45 55	12 18 27 20 17 16	60 270 675 700 765 880
		Σf = 110	Σfm = 3350

$\overline{\mathit{X}}=\frac{\mathrm{\Sigma }fm}{\mathrm{\Sigma }f}=\frac{3350}{110}=30.45$
Thus, the mean profit is Rs 30.45.