Individual Case1 1207

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School

Algoma University *

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Course

1207

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Management

Date

Apr 3, 2024

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docx

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Uploaded by MagistrateVulturePerson796

Algoma University ADMN 1207: Quantitative Management Decision-making Q1) Using the data set, create a frequency distribution . Answer We can create a frequency distribution from the given data set by grouping the values into intervals and counting the number of values that fall within each interval. A frequency distribution table for investment portfolio values (in thousands of dollars) is provided below: Interval Frequency 0 - 99.9 18 100 -199.9 11 200 - 299.9 11 300 - 399.9 7 400 - 499.9 8 500 - 599.9 4 600 - 699.9 4 700 - 799.9 1 800 - 899.9 1 900 - 999.9 1 1000 and above 4 Q2) How many classes would you suggest? Answer Sturges' rule suggests using around 1 + log2(N) courses, in which N is the number of data points, for determining the number of classes. N in this case is 70. When we apply the equation, we get 1 + log2(70) 7 classes. Q3) What value would you suggest for a class interval? [ Answer : To calculate the class interval, I divided the data range (highest minus lowest) by the number of classes suggested by Sturges' rule. This gave an estimate of the width of each interval. I chose a class interval of about 143. 1002.2 - 3.3 = 998.9 Class interval/data range/number of classes 998.9 / 7 142.7 Q4) Draw a histogram of the data. Answer Here is a histogram of the data based on the frequency distribution and class intervals: Frequency | | * | * | * | *

| * | * * | * * * | * * * | * * * * | * * * * * ------------------------------------------------- 0-99.9 100-199.9 200-299.9 300-399.9 ... 1000+ "Q5) The IGI company’s financial experts suggest that this age group of people have at least five times their salary saved." (“IGI investment company is based in Amsterdam, the | Chegg.com”) If an investment portfolio of €500,000 is assumed as a benchmark that would support retirement in 10-15 years. Summarize your results in writing. Answer Based on the findings, we can conclude: - Most clients aged 40 to 50 have investment portfolios worth less than $500,000, with the most frequently occurring in the 0-99.9-thousand-dollar range. - According to the frequency distribution, as the value of the investment portfolio increases, so does the number of clients. - Only a small number of clients have investment portfolios worth more than $500,000, which IGI's financial experts recommend as a starting point for retirement support in 10-15 years. - According to the data, many clients in this age group may not have saved enough for retirement, despite experts recommending that they save at least five times their annual salary. - IGI may need to provide additional financial planning and investment advice to clients in this age group to help them achieve their retirement goals. Overall, the data emphasize the importance of proper financial planning and investment management in ensuring a comfortable retirement for clients aged 40 to 50.

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Individual Case1 1207

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