The frequency table below reflects company monthly profits over a 2 year period

Question

The frequency table below reflects company monthly profits over a 2 year period (Jan, 2014 – Dec, 2015).

Profits ($)                                            Frequency (months)

100.00 – 499.00                                                 7

500.00 – 899.99                                                 4

900.00 – 1299.99                                               3

1300.00 – 1699.99                                             3

1700.00 – 2099.99                                             5

2100.00 – 2499.99                                             2

                a. From the above table, what would be the appropriate relative frequency for the fifth class?

                b. From the above table, what is the cumulative frequency of the 3rd class?

*** Please Show Your work and state formula/theory used to solve question***

Explanation / Answer

Sum of the frequencies = 24

a) Realtive frequency = ( Class frequency/sum of all fgrequencies).

Therefore the relative frequency for the fifth class = 5/24 = 0.2083

b) The cumulative frequency of the 3rd class is given by

c.f(3rd class) = 7+4+3 = 14

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