Nrf/BIG research provided results of a consumer holiday spending survey. The fol
ID: 2956088 • Letter: N
Question
Nrf/BIG research provided results of a consumer holiday spending survey. The following data provide the dollar amount of hoilday spending for a sample of 25 consumers1200 850 740 590 340
450 890 260 610 350
1780 180 850 2050 770
800 1090 510 520 220
1450 280 1120 200 350
A) what is the lowest holiday spending? the highest?
B) Use a class width of $250 to prepare a frequencydistribution and a percent frequency distribution for the data
C)Prepare a histogram and comment on the shape of the distribution?
D) what observation can you make about holiday spending?
Explanation / Answer
arranging the data in ascending order , we get 180 200 220 260 280 340 350 350 450 510 520 590 610 740 770 800 850 850 890 1090 1120 1200 1450 1780 2050 340 340 340 340 340 340 340 340 340 340 450 450 450 450 450 450 450 450 450 450 590 590 590 590 590 590 590 590 590 590 740 740 740 740 740 740 740 740 740 740 850 850 850 850 850 850 850 850 850 850 890 890 890 890 890 890 890 890 890 890 1200 1200 1200 1200 1200 1200 1200 1200 1200 1200 A) hence, the lowest holiday spending=180 the highest holiday spending= 2050B) Use a class width of $250, we get the following frequency distribution table Class interval Frequency 150-400 8 400-650 5 650-900 6 900-1150 2 1150-1400 1 1400-1650 1 1650-1900 1 1900-2150 1 percent frequency distribution for the data is as follows: Class interval Frequency %age frequency= (class frequency/total frequency)*100 150-400 8 32 400-650 5 20 650-900 6 24 900-1150 2 8 1150-1400 1 4 1400-1650 1 4 1650-1900 1 4 1900-2150 1 4 Total 25
D) as the holiday spending increases, the frequency decreases 180 200 220 260 280 340 350 350 450 510 520 590 610 740 770 800 850 850 890 1090 1120 1200 1450 1780 2050
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