The following two relative frequency distributions were constructed using data
The following two relative frequency distributions were constructed using data that appeared in the report “Undergraduate Students and Credit Cards in 2004” (Nellie Mae, May 2005). One relative frequency distribution is based on credit bureau data for a random sample of 1413 college students, while the other is based on the result of a survey completed by 132 of the 1260 college students who received the survey.
a. Construct a histogram for the credit bureau data. For purposes of constructing the histogram, assume that none of the students in the sample had a balance higher than \$15,000 and that the last interval can be regarded as 7000 to _15,000. Be sure to use the density scale when constructing the histogram.
b. Construct a histogram for the survey data. Use the same scale that you used for the histo gram in Part (a) so that it will be easy to compare the two histograms.
c. Comment on the similarities and differences in the histograms from Parts (a) and (b).
d. Do you think the high non-response rate for the survey may have contributed to the observed differences in the two histograms? Explain.
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