The data given below shows the number of people who have saved a certain amount of money.
| Saving (in Rs) | Number of people |
| 5 | 1 |
| 15 | 3 |
| 20 | 4 |
| 25 | 2 |
| 30 | 1 |
| 35 | 1 |
| 40 | 2 |
What is the mean saving per person?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Rs. 23.21.
| Understanding/Application |
|
Mean = Sum of all observations/Total number of observations 5, 15, 15, 15, 20, 20, 20, 20, 25, 25, 30, 35, 40, 40 Total observations = 14 Sum of all observations = (5 + 15 + 15 +15 + 20 + 20 + 20 + 20 + 25 + 25 + 30 + 35 + 40 + 40) = 325 |
| Average = 325/14 = 23.21 |