Suppose That a Data Set Has a Minimum Value of 24

question 6

Essay

Suppose that a data set has a minimum value of 24 and a maximum of 79 and that you want 5 classes. Explain how to find the class width for this frequency table. What happens if
you mistakenly use a class width of 11 instead of 12?

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Definitions:

U.S. Dollar

The official currency of the United States and a primary reserve currency used globally in international transactions.

Foreign Exchange

The trading of currencies on the forex market, allowing for the conversion of one currency into another.

Capital Account Balance

A part of a country's balance of payments that records all transactions involving the purchase or sale of assets.

Current Account Balance

The current account balance is a country's trade balance plus net income and direct payments between it and other countries, indicating a nation's foreign trade and financial status.