1) The ogive (cumulative percentage polygon) gives data for how much individuals
ID: 2948164 • Letter: 1
Question
1) The ogive (cumulative percentage polygon) gives data for how much individuals have invested in the stock market in 2017. Use this ogive to answer the questions below.
(a) What percentage of people surveyed invested $999 or less?
(b) What percentage of people surveyed invested at least $1500?
(c) What percentage of people surveyed invested between $2000 and $2499?
(d) Suppose 8000 people were surveyed, how many of them invested less than $1000? (Give your answer in terms of number of people.)
100 100 90T 80 70 T 60- 90 70 Cumulative Percentage 50 40 40 30 204. 30 10 S499 S999 S1499 $1999 $2499 $2999 Amount InvestedExplanation / Answer
a) From the graph, we can see the y value corresponding to the X value of 999 which is 30.
Therefore P(X <= 999) = 30%
b) Again same way we see here from the graph that:
P( X <= 1499 ) = 40%
Therefore, P(X >= 1500) = 60%
c) Again from the graph, we have here:
P(X <= 1999) = 70% and P(X <= 2499) = 90%
Therefore, P(2000 <= X <= 2499) = 90% - 70% = 20%
Therefore 20% is the required figure here.
d) We know that P( X < 1000) = 30%
Therefore number of people would be 30% of 8000
= 0.3*8000
= 2400
Therefore 2400 is the required number of people here.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.