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Merrill Lynch recently completed a study regarding the size of online investment portfolios (stocks, bonds, mutual funds, and certificates of deposit) for a sample ...

Question

Merrill Lynch recently completed a study regarding the size of online investment portfolios (stocks, bonds, mutual funds, and certificates of deposit) for a sample of clients in the 40 up to 50 years old age group. Listed following is the value of all the investments in thousands of dollars for the 70 participants in the study. a. Organize the data into a frequency distribution. How many classes would you suggest? What value would you suggest for a class interval? b. Draw a histogram. Financial

Merrill Lynch recently completed a study regarding the size of online investment portfolios (stocks, bonds, mutual funds, and certificates of deposit) for a sample of clients in the 40 up to 50 years old age group. Listed following is the value of all the investments in thousands of dollars for the 70 participants in the study. a. Organize the data into a frequency distribution. How many classes would you suggest? What value would you suggest for a class interval? b. Draw a histogram. Financial experts suggest that this age group of people have at least five times their salary saved. As a benchmark, assume an investment portfolio of $\$ 500,000$ would support retirement in $10-15$ years. In writing, summarize your results.



Answers

The Financial Times/Harris Poll is a monthly online poll of adults from six countries in Europe and the United States. A January poll included 1015 adults in the United States. One of the questions asked was, "How would you rate the Federal Bank in handling the credit problems in the financial markets?" Possible responses were Excellent, Good, Fair, Bad, and Terrible (Harris Interactive website, January $2008 ) .$
a. What was the sample size for this survey?
b. Are the data categorical or quantitative?
c. Would it make more sense to use averages or percentages as a summary of the data for this question?
d. Of the respondents in the United States, 10$\%$ said the Federal Bank is doing a good
job. How many individuals provided this response?


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