A Data Set Consists of 40 Observations

question 63

Essay

A data set consists of 40 observations. For a quantitative variable, how many classes would you recommend for the frequency distribution?

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Definitions:

Effective Annual Rate

The annual interest rate that takes into account the effects of compounding over multiple periods.

Effective Rate

Reflects the total interest payable on a loan or investment, taking into account compounding interest, over a specific period.

Compounded Monthly

Interest on an investment or loan that is calculated each month and added to the principal sum, leading to exponential growth over time.