Every corporation has a governing board of directors.The number of individuals on a board varies from onecorporation to another. One of the authors of the article“Does Optimal Corporate Board Size Exist? AnEmpirical Analysis” (J. of Applied Finance, 2010:57–69) provided the accompanying data on the numberof directors on each board in a random sample of 204corporations.No. directors: 4    5    6     7    8     9Frequency:     3   12  13   25  24   42 No. directors: 10 11 12 13 14 15Frequency:      23 19 16 11 5 4 No. directors: 16   17   21  24   32Frequency:        1   3     1    1     1 a. Construct a histogram of the data based on relativefrequencies and comment on any interestingfeatures.

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Chapter1: Combinatorial Analysis
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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. directors: 4    5    6     7    8     9
Frequency:     3   12  13   25  24   42


No. directors: 10 11 12 13 14 15
Frequency:      23 19 16 11 5 4

No. directors: 16   17   21  24   32
Frequency:        1   3     1    1     1

a. Construct a histogram of the data based on relative
frequencies and comment on any interesting
features.

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