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During the first six months of the American Civil War, armies were amassed as never
before in history. Large groups of men, transported far from home, lived in
conditions that bred sickness. In a recent study involving Confederate muster rolls, a
researcher constructed a cumulative relative frequency distribution of the percentages
of Confederate soldiers reported sick for each company. A "Company" is a unit of
soldiers, usually between about 70 and 120 in size. The cumulative relative
frequency distribution for October, 1861, is shown below. (a) Approximately what proportion of the Confederate companies had less than 10%
sick?
(b) Approximately w hat proportion of the Confederate companies had more than 30%
sick?
(c) Approximately 50% of the companies had less than what percentage of soldiers
sick?
Merchandise Inventory
Goods that a company holds in stock with the intent to sell them as part of its business operations.
Purchase Discount
A reduction in the price of goods that a buyer can avail of for making early payments to the seller.
Sales Discount
A reduction in the price of goods or services offered to a customer, typically used to incentivize prompt payment.
Discount
The interest deducted from the maturity value of a note or the excess of the face amount of bonds over their issue price.
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