Midland National Bank selected a sample of 40 student checking accounts. Below are their end-of-the-month balances. a.

Question:

Midland National Bank selected a sample of 40 student checking accounts. Below are their end-of-the-month balances.

image text in transcribed

a. Tally the data into a frequency distribution using $100 as a class interval and $0 as the starting point.
b. Draw a cumulative frequency polygon.
c. The bank considers any student with an ending balance of $400 or more a “preferred customer.” Estimate the percentage of preferred customers.
d. The bank is also considering a service charge to the lowest 10% of the ending balances. What would you recommend as the cutoff point between those who have to pay a service charge and those who donot?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistical Techniques In Business And Economics

ISBN: 356

16th Edition

Authors: Douglas Lind, William Marchal

Question Posted: