Merrill Lynch recently completed a study regarding the size of online investment portfolios (stocks, bonds, mutual funds, and certificates of deposit) for a sample of clients in the 40 up to 50 years old age group. Listed below is the value of all the investments in thousands of dollars for the 70 participants in the study. a. Organize the data

Chapter 2, Exercises #43

Merrill Lynch recently completed a study regarding the size of online investment portfolios (stocks, bonds, mutual funds, and certificates of deposit) for a sample of clients in the 40 up to 50 years old age group. Listed below is the value of all the investments in thousands of dollars for the 70 participants in the study.

a. Organize the data into a frequency distribution. How many classes would you suggest? 

b. What value would you suggest for a class interval?

c. Draw a histogram. 

d. Financial experts suggest that this age group of people have at least five times their salary saved. As a benchmark, assume an investment portfolio of $500,000 would support retirement in 10–15 years. In writing, summarize your results.

Related Book For answer-question

Basic Statistics In Business And Economics

10th Edition

Authors: Douglas A. Lind, William G. Marchal, Samuel A. Wathen

ISBN: 9781260597578