Midland National Bank selected a sample of 40 student checking accounts. Below are their end-of-the-month balances. a.

Question:

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 €œpreferred 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 donot?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...