Loose Leaf for Statistical Techniques in Business and Economics (Mcgraw-hill/Irwin Series in Operations and Decision Sciences)
16th Edition
ISBN: 9780077639709
Author: Douglas A. Lind, William G Marchal, Samuel A. Wathen
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 2, Problem 40CE
Midland National Bank selected a sample of 40 student checking accounts. Below are their end-of-the-month balances.
- a. Tally the data into a frequency distribution using $100 as a class interval and $0 as the starting point.
- b. Draw a cumulative frequency
polygon . - c. The bank considers any student with an ending balance of $400 or more a “preferred customer.” Estimate the percentage of preferred customers.
- d. The bank is also considering a service charge to the lowest 10% of the ending balances. What would you recommend as the cutoff point between those who have to pay a service charge and those who do not?
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Chapter 2 Solutions
Loose Leaf for Statistical Techniques in Business and Economics (Mcgraw-hill/Irwin Series in Operations and Decision Sciences)
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