Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Consumer Financial Protection Bureau reports on consumer financial product and service complaint submissions by state, category, and company. The accompanying table represents complaints received
The Consumer Financial Protection Bureau reports on consumer financial product and service complaint submissions by state, category, and company. The accompanying table represents complaints received from Louisiana consumers by complaint category in a recent year.
a Construct a Pareto chart for the categories of complaints.
b Discuss the "vital few" and "trivial many" reasons for the categories of complaints.
Question content area top right
Part
Label
Category
Number of Complaints
Upper A
Bank Account or Service
Upper B
Consumer Loan
Upper C
Credit Card
Upper D
Credit Reporting
Upper E
Debt Collection
Upper F
Mortgage
Upper G
Student Loan
Upper H
Other
Question content area bottom
Part
a Construct a Pareto chart. Choose the correct answer below.
A
Complaints
D
E
F
A
C
B
H
G
x
y
A Pareto chart titled Complaints has a horizontal axis labeled with letters and a vertical axis labeled from to in increments of There are vertical bars, each of which is over a horizontal axis label. Above each horizontal axis label there is a plotted point and the adjacent points are connected by line segments. The heights are listed from left to right as follows, where the horizontal axis label is listed first, the bar height is listed second, and the point height is listed third: Upper D; Upper E; Upper F; Upper A; Upper C; Upper B; Upper H; Upper G All heights are approximate.
Your answer is correct.B
Complaints
D
E
F
A
C
B
H
G
x
y
A Pareto chart titled Complaints has a horizontal axis labeled with letters and a vertical axis labeled from to in increments of There are vertical bars, each of which is over a horizontal axis label. Above each horizontal axis label there is a plotted point and the adjacent points are connected by line segments. The heights are listed from left to right as follows, where the horizontal axis label is listed first, the bar height is listed second, and the point height is listed third: Upper D; Upper E; Upper F; Upper A; Upper C; Upper B; Upper H; Upper G All heights are approximate.
C
Complaints
A
B
C
D
E
F
G
H
x
y
A Pareto chart titled Complaints has a horizontal axis labeled with letters and a vertical axis labeled from to in increments of There are vertical bars, each of which is over a horizontal axis label. Above each horizontal axis label there is a plotted point and the adjacent points are connected by line segments. The heights are listed from left to right as follows, where the horizontal axis label is listed first, the bar height is listed second, and the point height is listed third: Upper A; Upper B; Upper C; Upper D; Upper E; Upper F; Upper G; Upper H All heights are approximate.
D
Complaints
A
B
C
D
E
F
G
H
x
y
A Pareto chart titled Complaints has a horizontal axis labeled with letters and a vertical axis labeled from to in increments of There are vertical bars, each of which is over a horizontal axis label. Above each horizontal axis label there is a plotted point and the adjacent points are connected by line segments. The heights are listed from left to right as follows, where the horizontal axis label is listed first, the bar height is listed second, and the point height is listed third: Upper A; Upper B; Upper C; Upper D; Upper E; Upper F; Upper G; Upper H All heights are approximate.
Part
b Discuss the "vital few" and "trivial many" reasons for the categories of complaints.
The "vital few" reasons for the categories of complaints are
which account for
enter your response here of the complaints. The remaining are the "trivial many" which make up
enter your response here of the complaints.
Round to the nearest integer as needed.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started