Suppose That a Data Set Has a Minimum Value of 18

question 13

Essay

Suppose that a data set has a minimum value of 18 and a maximum of 83 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 13 instead of 14?

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Definitions:

Net Present Value

A valuation method that reflects the present value of an investment's future net cash flows minus the initial investment cost.

Default Rate

The frequency at which borrowers fail to make scheduled payments on loans or securities.

Credit Policy

A set of guidelines that a company uses to determine the credit terms and conditions for its customers.