When the rate of spending is too high in a specific country, people are encouraged to...

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When the rate of spending is too high in a specific country, people are encouraged to save. A sample of 42 Accountants, based in Cape Town, were asked what proportion of their monthly salary they saved. The frequency distribution table below gives us an idea of their saving pattern. % of salary saved Number of people 2 F m fm m fm who saved 0- <2 4 4 1 4 1 4 2- <4 8 12 4- <6 14 26 6- <8 9 35 8- <10 5 40 3579 24 9 72 70 25 350 63 49 441 45 81 405 10- <12 2 42 11 22 121 242 Total 42 228 1514 Given the frequency distribution table above, answer the following questions: a. Calculate the mean savings per month. b. Calculate the standard deviation of monthly saving. (2 marks) (2 marks) c. Explain what the answers in (a) and (b) tell us. (1 mark) d. Calculate the median saving per month? (2 marks) e. Create a number summary box-and whisker plot if the minimum saving is 1% and the maximum saving is 11%. f. Describe the box plot that you have created in question 2(e). (2 marks) (1 mark) When the rate of spending is too high in a specific country, people are encouraged to save. A sample of 42 Accountants, based in Cape Town, were asked what proportion of their monthly salary they saved. The frequency distribution table below gives us an idea of their saving pattern. % of salary saved Number of people 2 F m fm m fm who saved 0- <2 4 4 1 4 1 4 2- <4 8 12 4- <6 14 26 6- <8 9 35 8- <10 5 40 3579 24 9 72 70 25 350 63 49 441 45 81 405 10- <12 2 42 11 22 121 242 Total 42 228 1514 Given the frequency distribution table above, answer the following questions: a. Calculate the mean savings per month. b. Calculate the standard deviation of monthly saving. (2 marks) (2 marks) c. Explain what the answers in (a) and (b) tell us. (1 mark) d. Calculate the median saving per month? (2 marks) e. Create a number summary box-and whisker plot if the minimum saving is 1% and the maximum saving is 11%. f. Describe the box plot that you have created in question 2(e). (2 marks) (1 mark)