The Data in the Following Table Reflect the Amount of Time

question 35

Multiple Choice

The data in the following table reflect the amount of time 40 students in a section of Statistics 101 spend on homework each day. Find the value of the missing entry.
$\begin{array}{c|c}\begin{array}{c}\text { Homework time } \\\text { (minutes) }\end{array} & \begin{array}{c}\text { Relative } \\\text { frequency }\end{array} \\\hline 0-14 & 0.05 \\15-29 & 0.10 \\30-44 & 0.25 \\45-59 & \\60-74 & 0.15 \\75-89 & 0.05\end{array}$

• A)16
• B) 40
• C) 0.40
• D) The value cannot be determined from the given data.

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Definitions:

EAR

Effective Annual Rate (EAR) is a measure of interest that takes into account the effects of compounding over a given period.

Compounded Monthly

Interest calculated on an investment or loan each month based on both the initial principal and the accumulated interest from previous months.

EAR

Effective Annual Rate, a measure of interest that takes into account the effect of compounding over a year.

Compounded Quarterly

The process whereby the interest earned on an investment is calculated and added to the principal sum every three months, then the new total is used for the next compounding period.