What Would You Do? You work at a bank and are asked to recomme...

Question

What Would You Do? You work at a bank and are asked to recommend the amount of cash to put in an ATM each day. You do not want to put in too much (which would cause security concerns) or too little (which may create customer irritation). The daily withdrawals (in hundreds of dollars) for 30 days are listed. 72 84 61 76 104 76 86 92 80 88 98 76 97 82 84 67 70 81 82 89 74 73 86 81 85 78 82 80 91 83
Construct a relative frequency histogram for the data. Use 8 classes.

Construct a relative frequency histogram for the data. Use 8 classes.

Accepted Answer

Hi, everyone, let's take a look at this practice problem. This problem says a fitness center records the number of minutes split on treadmills by 30 different members in a month. The data are 32 41 38 45 50 36 39 44 37 42 47 35 49 40 43 34 33 48 46 41 36 37 44 384039 45 46 42 and 43. Based on a relative frequency distribution with 8 classes, what is the relative frequency for the class interval, 41 to 43? We're given 4 possible choices as our answers. For choice A, we have 0.25, for choice B, we have 0.30. For choice C, we have 0.20, and for choice D, we have 0.45. So, we need to find the relative frequency for the class interval of 41 to 43. So the first thing we want to do is to find the frequency for that class interval. So, we're going to look through our data here and count the number of times a value between 41 and 43 here. And so, if we look at our data, we see we have one value of 41. One value of 42, 1 value of 43, another value of 41, another value of 42, and another value of 43. That means that the frequency for this class interval is going to be equal to 6, since we have 6 values in our data set that fall in this class interval. But the question actually asked for the relative frequency. I recall that the relative frequency is equal to your class frequency. Divided by the total number of data points, which in this case is going to be 30, since we have 30 different members. And so that means a relative frequency is going to be equal to 6 divided by 30. And when we evaluate this expression, this is going to be equal to 0.20. So this here is the answer that we're looking for for this problem. And if we look at our answer choices, we see that the correct answer choice corresponds to answer choice C. So I hope that this explanation has been useful, and I'll see you in the next video.

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Key Concepts

Relative Frequency

Histogram

Class Intervals

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