Correct Answer: Both I and II

Solution : Production of the bike by company M = 350
Production of the truck by company M = 200
I. The ratio of the production of bikes to the production of trucks by company M is 7 : 4.
Statement I is correct.
The average production of bike by all companies = $\frac{(600 + 350 + 400 + 150 + 200)}{5}$ = $\frac{1700}{5}$ = 340
The average production of btruck by all companies = $\frac{(400 + 200 + 100 +500 +550)}{5}$ = $\frac{1750}{5}$ = 350
Difference = 350 – 340 = 10
II. The difference between the average production of bikes and trucks by all companies is 10.
Statement II is correct.
Hence, the correct answer is Both I and II.