Forty-eight randomly selected car owners were asked about their typical monthly expense on gas. The following data
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Forty-eight randomly selected car owners were asked about their typical monthly expense on gas. The following data show the responses of these 48 car owners.
a. Construct a frequency distribution table. Use the classes 50–149, 150–249, 250–349, 350–449, and 450–549.
b. Calculate the relative frequency and percentage for each class.
c. Construct a histogram for the percentage distribution made in part b.
d. What percentage of the car owners in this sample spend $350 or more on gas per month?
e. Prepare the cumulative frequency, cumulative relative frequency, and cumulative percentage distributions using the table of part a.
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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