(b) The Following Table Gives The Wages Of Workers In A Factory:$\[ \begin{tabular}{|l|c|c|c|c|c|c|c|} \hline Wages (in ₹) & $45-50$ & $50-55$ & $55-60$ & $60-65$ & $65-70$ & $70-75$ & $75-80$ \\ \hline Number Of Workers & 5 & 8 & 30 & 25 & 14 &

Mar 1, 2025 by ADMIN 248 views

Introduction

Understanding the distribution of wages in a factory is crucial for various business decisions, including employee management, resource allocation, and financial planning. The given table provides a comprehensive overview of the wages of workers in a factory, categorized into different ranges. In this article, we will delve into the analysis of the table, exploring the distribution of wages, identifying patterns, and drawing meaningful conclusions.

Data Analysis

Wages (in ₹)	Number of workers
45-50	5
50-55	8
55-60	30
60-65	25
65-70	14
70-75	10
75-80	8

The table reveals a skewed distribution of wages, with a majority of workers falling within the ₹55-60 and ₹60-65 ranges. This indicates that the factory has a significant number of workers earning wages between ₹55 and ₹65. The lowest wage range, ₹45-50, has the least number of workers, with only 5 individuals falling within this category.

Calculating the Total Number of Workers

To gain a better understanding of the distribution, we need to calculate the total number of workers. This can be done by summing up the number of workers in each wage range.

total_workers = 5 + 8 + 30 + 25 + 14 + 10 + 8
print(total_workers)

The total number of workers is 100.

Calculating the Percentage of Workers in Each Wage Range

To visualize the distribution, we can calculate the percentage of workers in each wage range.

percentages = []
for i in range(7):
    wage_range = f"{i*5+45}-{(i+1)*5+45}"
    num_workers = [5, 8, 30, 25, 14, 10, 8][i]
    percentage = (num_workers / total_workers) * 100
    percentages.append((wage_range, percentage))

for wage_range, percentage in percentages:
    print(f"{wage_range}: {percentage}%")

The output reveals the percentage of workers in each wage range:

45-50: 5%
50-55: 8%
55-60: 30%
60-65: 25%
65-70: 14%
70-75: 10%
75-80: 8%

Identifying Patterns

Upon analyzing the data, we can identify a few patterns:

The majority of workers fall within the ₹55-60 and ₹60-65 ranges, indicating a concentration of wages in the middle range.
The lowest wage range, ₹45-50, has the least number of workers, suggesting that the factory may have a minimum wage requirement.
The highest wage range, ₹75-80, has a relatively small number of workers, indicating that the factory may have a limited number of high-wage positions.

Conclusion

In conclusion, the analysis of the table reveals a skewed distribution of wages, with a majority of workers falling within the ₹55-60 and ₹60-65 ranges. The factory has a significant number of workers earning wages between ₹55 and ₹65, indicating a concentration of wages in the middle range. The lowest wage range, ₹45-50, has the least number of workers, suggesting that the factory may have a minimum wage requirement. The highest wage range, ₹75-80, has a relatively small number of workers, indicating that the factory may have a limited number of high-wage positions.

Future Work

Future work could involve:

Conducting a more in-depth analysis of the data to identify additional patterns and trends.
Comparing the distribution of wages in this factory to other factories or industries to identify best practices.
Developing a model to predict the distribution of wages based on various factors, such as industry, location, and experience.

References

[1] [Source of the table](link to the source)
[2] [Related research paper](link to the research paper)

Acknowledgments

[Name of the person who provided the data]
[Name of the person who assisted with the analysis]

Appendices

[Appendix 1: Raw data](link to the raw data)
[Appendix 2: Additional analysis](link to the additional analysis)
Q&A: Understanding the Distribution of Wages in a Factory ===========================================================

Introduction

In our previous article, we analyzed the distribution of wages in a factory, revealing a skewed distribution with a majority of workers falling within the ₹55-60 and ₹60-65 ranges. In this article, we will address some of the most frequently asked questions related to the distribution of wages in a factory.

Q1: What is the significance of the skewed distribution of wages?

A1: The skewed distribution of wages indicates that a majority of workers are concentrated in the middle range, with fewer workers at the lower and higher ends of the wage spectrum. This can have implications for employee management, resource allocation, and financial planning.

Q2: Why do most workers fall within the ₹55-60 and ₹60-65 ranges?

A2: The concentration of workers in the ₹55-60 and ₹60-65 ranges may be due to various factors, such as industry standards, location, and experience. It is also possible that the factory has a minimum wage requirement, which may be influencing the distribution of wages.

Q3: What is the implication of the lowest wage range, ₹45-50, having the least number of workers?

A3: The fact that the lowest wage range has the least number of workers suggests that the factory may have a minimum wage requirement. This can have implications for employee management, as it may be challenging to attract and retain workers at the lower end of the wage spectrum.

Q4: What is the implication of the highest wage range, ₹75-80, having a relatively small number of workers?

A4: The fact that the highest wage range has a relatively small number of workers suggests that the factory may have a limited number of high-wage positions. This can have implications for employee management, as it may be challenging to attract and retain top talent.

Q5: How can the distribution of wages be used to inform business decisions?

A5: The distribution of wages can be used to inform business decisions related to employee management, resource allocation, and financial planning. For example, the factory may need to adjust its compensation packages to attract and retain workers at the lower end of the wage spectrum.

Q6: What are some potential limitations of the analysis?

A6: Some potential limitations of the analysis include:

The data may not be representative of the entire factory or industry.
The analysis may not account for various factors that can influence the distribution of wages, such as industry standards, location, and experience.
The analysis may not be generalizable to other factories or industries.

Q7: What are some potential future directions for research?

A7: Some potential future directions for research include:

Conducting a more in-depth analysis of the data to identify additional patterns and trends.
Comparing the distribution of wages in this factory to other factories or industries to identify best practices.
Developing a model to predict the distribution of wages based on various factors, such as industry, location, and experience.

Q8: How can the analysis be used to inform policy decisions?

A8: The analysis can be used to inform policy decisions related to employee management, resource allocation, and financial planning. For example, policymakers may need to consider the implications of minimum wage requirements on employee management and resource allocation.

Q9: What are some potential implications for employee management?

A9: The analysis can have implications for employee management, including:

Adjusting compensation packages to attract and retain workers at the lower end of the wage spectrum.
Developing strategies to retain top talent.
Implementing policies to address wage inequality.

Q10: What are some potential implications for financial planning?

A10: The analysis can have implications for financial planning, including:

Adjusting budgets to account for the distribution of wages.
Developing strategies to manage wage inequality.
Implementing policies to address financial constraints.

Conclusion

In conclusion, the analysis of the distribution of wages in a factory reveals a skewed distribution with a majority of workers falling within the ₹55-60 and ₹60-65 ranges. The implications of this distribution are far-reaching, affecting employee management, resource allocation, and financial planning. By understanding the distribution of wages, factories can make informed decisions to attract and retain workers, manage resources effectively, and plan for the future.