A survey of 100 resort club managers on their annual salaries resulted in the following frequency distribution.
Question:
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a. Prepare a cumulative frequency distribution for the annual salaries.
b. Prepare a cumulative relative frequency distribution for the annual salaries.
c. Construct an ogive for the cumulative relative frequency distribution found above.
d. What value bounds the cumulative relative frequency of 0.75?
e. 75% of the annual salaries are below what value? Explain the relationship between parts d and e.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Step by Step Answer:
a Class Cumulative Boundaries Frequency 15 x 25 12 25 x 35 49 35 x 45 75 45 ...View the full answer
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