The given frequency distribution is of equal length. Therefore, taking d = \(\frac{x−A}{c}\), we calculate mean by short cut method. The calculation table is prepared as follows:
Mean of Profit:
x̄ = A + \(\frac{∑fd}{n}\) × c
Putting A = 17.5. Σfd = 9, n = 50 and c = 7 In the formula,
= 17.5 + \(\frac{9}{50}\) × 7
= 17.5 + \(\frac{63}{50}\)
= 17.5 + 1.26
= ₹18.76 lakh
Hence, mean of profit Is ₹ 18.76 lakh.
