10.1 [EX10-001] Consider the sample data above in Section 10.1.

a. What is the population of interest?

b. What percentage of each group has their own credit card? How does this compare with the findings reported by the Nellie Mae organization?

c. Describe the shape of the distribution you believe total credit card debt will display. Explain.

d. Construct a histogram of total credit card debt for each class. Use the same class intervals for both histograms. Compare your findings to your thoughts in part c.

e. Find the mean and standard deviation for each data set. Compare the two samples using these findings.

f. Compare the distribution of credit card debts for freshmen to that for sophomores. Describe ways in which they appear to be similar. Describe ways in which they appear to be quite different.