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- to 50-year-old age group. Listed following is the value of all the investments in thousands of dollars for the 70 participants in the study. a. Organize the data into a frequency distribution. How many classes would you suggest? What value would you suggest for a class interval? b. Draw a histogram. Interpret your result
Chapter 3 Averages and Variation Material Extracted From Textbook (Brase, Charles Henry., and Corrinne Pellillo. Brase. Understandable Statistics: Concepts and Methods . 11th ed. N.p.: Cengage Learning, n.d. Print.) 3.1 Measures of Central Tendency: Mode, Median, and Mean Mode: The value that occurs most frequently. Note: if the data set has not single value that occurs more frequently than the other, then that data set has not more. If a data set has two values that occur at the same frequency it can be bimodal. Median: The central value of an ordered distribution. How to find the Median 1. Order the data from smallest to largest. 2. For an odd number of data values in the distribution. Median = Middle data 3. For an even
