Given:
The profit made by the cosmetic company in ₹ thousand over 5 years (2014 to 2018) is as follows:
2014: ₹300,000
2015: ₹320,000
2016: ₹290,000
2017: ₹300,000
2018: ₹350,000
Formula Used:
Average profit = Number of yearsSum of profits
Calculation:
Sum of profits = ₹300,000 + ₹320,000 + ₹290,000 + ₹300,000 + ₹350,000
Sum of profits = ₹1,560,000
Average profit = 51,560,000
Average profit = ₹312,000
Now, we will determine the years with profits below and above ₹312,000:
Below average (₹312,000):
2014 (₹300,000), 2016 (₹290,000), 2017 (₹300,000)
Above average (₹312,000):
2015 (₹320,000), , 2018 (₹350,000)
Number of years with profits below average = 3
Number of years with profits above average = 2
Ratio of years with profits below average to those above average = 23
The ratio of the number of years in which the profits are below average to those in which the profits are above average is 3:2.