Question
Merrill Lynch recently completed a study regarding the size of online investment portfolios (stocks, bonds, mutual funds, and certificates of deposit) for a sample of
Merrill Lynch recently completed a study regarding the size of online investment portfolios (stocks, bonds, mutual funds, and certificates of deposit) for a sample of clients in the 40 up to 50 years old age group. Listed below is the value of all the investments in thousands of dollars for the 70 participants in the study.
$ 669.9 | $ 7.5 | $ 77.2 | $ 7.5 | $ 125.7 | $ 516.9 | $ 219.9 | $ 645.2 |
301.9 | 235.4 | 716.4 | 145.3 | 26.6 | 187.2 | 315.5 | 89.2 |
136.4 | 616.9 | 440.6 | 408.2 | 34.4 | 296.1 | 185.4 | 526.3 |
380.7 | 3.3 | 363.2 | 51.9 | 52.2 | 107.5 | 82.9 | 63.0 |
228.6 | 308.7 | 126.7 | 430.3 | 82.0 | 227.0 | 321.1 | 403.4 |
39.5 | 124.3 | 118.1 | 23.9 | 352.8 | 156.7 | 276.3 | 23.5 |
31.3 | 301.2 | 35.7 | 154.9 | 174.3 | 100.6 | 236.7 | 171.9 |
221.1 | 43.4 | 212.3 | 243.3 | 315.4 | 5.9 | 1,002.2 | 171.7 |
295.7 | 437.0 | 87.8 | 302.1 | 268.1 | 899.5 |
a-1. How many classes would you suggest?
a-2. What value would you suggest for a class interval? (Round up to the nearest multiple of 10.)
b. Outside of Connect, draw a histogram. Financial experts suggest that this age group of people have at least five times their salary saved. As a benchmark, assume an investment portfolio of $500,000 would support retirement in 1015 years. In writing, summarize your results.
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