Merrill Lynch recently completed a study regarding the size of online investment portfolios (stocks, bonds,...
60.1K
Verified Solution
Link Copied!
Question
Accounting
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 below is the value of all the investments in thousands of dollars for the 70 participants in the study.
$ 669.9
$ 7.5
$ 77.2
$ 7.5
$ 125.7
$ 516.9
$ 219.9
$ 645.2
301.9
235.4
716.4
145.3
26.6
187.2
315.5
89.2
136.4
616.9
440.6
408.2
34.4
296.1
185.4
526.3
380.7
3.3
363.2
51.9
52.2
107.5
82.9
63.0
228.6
308.7
126.7
430.3
82.0
227.0
321.1
403.4
39.5
124.3
118.1
23.9
352.8
156.7
276.3
23.5
31.3
301.2
35.7
154.9
174.3
100.6
236.7
171.9
221.1
43.4
212.3
243.3
315.4
5.9
1,002.2
171.7
295.7
437.0
87.8
302.1
268.1
899.5
a-1. How many classes would you suggest?
a-2. What value would you suggest for a class interval? (Round up to the nearest multiple of 10.)
b. Outside of Connect, 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 1015 years. In writing, summarize your results.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
