Every corporation has a governing board of directors. The

Chapter 2, Problem 18E

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QUESTION:

Every corporation has a governing board of directors. The number of individuals on a board varies from one corporation to another. One of the authors of the article ?"Does Optimal Corporate Board Size Exist? An Empirical Analysis" (J. of Applied Finance, 2010: 57-69) ?provided the accompanying data on the number of directors on each board in a random sample of 204 corporations. a. Construct a histogram of the data based on relative frequencies and comment on any interesting features. b. Construct a frequency distribution in which the last row includes all boards with at least 18 directors. If this distribution had appeared in the cited article, would you be able to draw a histogram? Explain. c. What proportion of these corporations have at most 10 directors? d. What proportion of these corporations have more than 15 directors?

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QUESTION:

Every corporation has a governing board of directors. The number of individuals on a board varies from one corporation to another. One of the authors of the article ?"Does Optimal Corporate Board Size Exist? An Empirical Analysis" (J. of Applied Finance, 2010: 57-69) ?provided the accompanying data on the number of directors on each board in a random sample of 204 corporations. a. Construct a histogram of the data based on relative frequencies and comment on any interesting features. b. Construct a frequency distribution in which the last row includes all boards with at least 18 directors. If this distribution had appeared in the cited article, would you be able to draw a histogram? Explain. c. What proportion of these corporations have at most 10 directors? d. What proportion of these corporations have more than 15 directors?

ANSWER:

Problem 18E Answer: Step1: We have Every corporation has a governing board of directors. The number of individuals on a board varies from one corporation to another. One of the authors of the article "Does Optimal Corporate Board Size Exist An Empirical Analysis" (J. of Applied Finance, 2010: 57-69) provided the accompanying data on the number of directors on each board in a random sample of 204 corporations. no. 4 5 6 7 8 9 10 11 12 13 14 15 16 17 21 24 32 Directors Frequency 3 12 13 25 24 42 23 19 16 11 5 4 1 3 1 1 1 We need to find, a. Construct a histogram of the data based on relative frequencies and comment on any interesting features. b. Construct a frequency distribution in which the last row includes all boards with at least 18 directors. If this distribution had appeared in the cited article, would you be able to draw a histogram Explain. c. What prop

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