The Relative Frequency Histogram for the Age (In Years) of a Sample

question 54

Essay

The relative frequency histogram for the age (in years) of a sample of 25 employees from a
government department, is given below. Explain what the best measure of central location is.

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Definitions:

Semi-Annual Interest

Interest on a loan or security that is calculated and paid twice a year, often resulting in a compounding effect on the total interest earned or owed.

Coupon Bonds

Bonds that pay periodic interest payments to the holder based on a fixed interest rate (the coupon rate) until maturity, at which point the principal is repaid.

Effective Annual Rate

The interest rate on an investment or loan that is compounded annually, indicating the actual annual return taking into effect compounding over the year.