One of the questions asked respondents to report the total value of assets held by the household in 2013 dollars. Note that the range is very large. The minimum is $0 and the maximum is $1,312,587,840.

a. Draw a histogram using the number of class intervals suggested by the following table that is, between 13 and 17 class intervals. What problems did you encounter?

b. Try drawing a histogram with the following class intervals 10,000, 20,000, . . . 200,000 What problem do you encounter?

c. Draw a histogram with the following class intervals 100,000, 200,000, . . . 2,000,000 d. Briefly discuss which histogram drawn in (a), (b), and (c) is best.

Number of Observations Number of Classes                                         Less than 50 5–7
50–200.......................................................................................................................... 7–9
200–500....................................................................................................................... 9–10
500–1,000...................................................................................................................10–11
1,000–5,000 ...............................................................................................................11–13
5,000–50,000..............................................................................................................13–17
More than 50,000......................................................................................................17–20