The Frequency Distribution Below Shows the Monthly Expenditure on Gasoline

question 68

Essay

The frequency distribution below shows the monthly expenditure on gasoline for a sample of 14 individuals. $$\begin{array} { l l } \text { Expenditure } & \text { Frequency } \\55 - 59 & 2 \\60 - 64 & 3 \\65 - 69 & 4 \\70 - 74 & 3 \\75 - 79 & 2\end{array}$$ ​
a.
Compute the mean.
b.
Compute the standard deviation.

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Definitions:

Collateralized Borrowing

A method of borrowing where the borrower pledges an asset as security or collateral for the loan, which the lender can claim if the loan is not repaid.

Trouble Debt Restructuring

A process whereby terms of a debt are modified due to the financial difficulties of the borrower, typically resulting in reduced interest rates or extended payment schedules.

Financial Reporting

The process of producing statements that disclose an entity's financial status to management, investors, and the government.

Accelerating Cash Collection

Strategies or practices implemented by a business to decrease the amount of time between selling a product or service and receiving payment for it.