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Recently, a random sample of 25–34 year olds was asked, “How much do you currently have in savings, not including retirement savings?” The following data represent the responses to the survey. Approximate the mean and standard deviation amount of savings. Savings Frequency             $0–$19,999 344    $20,000–$39,999    98    $40,000–$59,999   52    $60,000–$79,999   19    $80,000–$99,999   13 $100,000–$119,999     6 $120,000–$139,999    2

Recently, a random sample of 25–34 year olds was asked, “How much do you currently have in savings, not including retirement savings?” The following data represent the responses to the survey. Approximate the mean and standard deviation amount of savings. Savings Frequency             $0–$19,999 344    $20,000–$39,999    98    $40,000–$59,999   52    $60,000–$79,999   19    $80,000–$99,999   13 $100,000–$119,999     6 $120,000–$139,999    2

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 4AGP
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Question

 Recently, a random sample of 25–34 year olds was asked, “How much do you currently have in savings, not including retirement savings?” The following data represent the responses to the survey. Approximate the mean and standard deviation amount of savings.

Savings

Frequency

            $0–$19,999

344

   $20,000–$39,999 

  98

   $40,000–$59,999

  52

   $60,000–$79,999

  19

   $80,000–$99,999

  13

$100,000–$119,999

    6

$120,000–$139,999

   2

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Step 1

here data class and their frequencies are given we have to find out the mean and standard deviation for the given data:

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