Questions: Credit Card Balances Frequency 0 to less than 1,000 1,000 less than 2,000 2,000 o less than 3,000 3,000 o less than 4,000 4,000 o less than 5,000 5,000 o less than 6,000

Credit Card Balances Frequency
0 to less than 1,000
1,000 less than 2,000
2,000 o less than 3,000
3,000 o less than 4,000
4,000 o less than 5,000
5,000 o less than 6,000

Transcript text: Credit Card Balances Frequency $\$ 0$ to less than $\$ 1,000$ $\$ 1,000$ less than $\$ 2,000$ $\$ 2,000$ o less than $\$ 3,000$ $\$ 3,000$ o less than $\$ 4,000$ $\$ 4,000$ o less than $\$ 5,000$ $\$ 5,000$ o less than $\$ 6,000$

Solution

Solution Steps

Step 1: Organize the Data

First, we need to organize the given credit card balances into a list for easier processing.

Credit Card Balances: $2,471, $3,473, $439, $1,505, $4,340, $160, $5,380, $4,282, $4,343, $2,795, $3,864, $4,599, $1,645, $5,682, $5,103, $745, $4,975, $1,565, $5,247, $1,076, $843, $745, $4,137, $895, $5,685, $1,131, $1,027, $1,701, $1,043, $501, $383, $2,223, $269, $360, $177, $1,646

Step 2: Define the Frequency Intervals

Next, we define the frequency intervals as given in the problem:

$0 to less than $1,200
$1,200 to less than $2,400
$2,400 to less than $3,600
$3,600 to less than $4,800
$4,800 to less than $6,000

Step 3: Count the Frequencies

Now, we count the number of credit card balances that fall into each interval.

$0 to less than $1,200: $439, $160, $745, $745, $843, $895, $1,076, $1,131, $1,027, $1,043, $501, $383, $269, $360, $177 (15 values)
$1,200 to less than $2,400: $1,505, $1,645, $1,565, $1,701, $1,646, $2,223 (6 values)
$2,400 to less than $3,600: $2,471, $2,795, $3,473 (3 values)
$3,600 to less than $4,800: $3,864, $4,340, $4,282, $4,343, $4,137 (5 values)
$4,800 to less than $6,000: $4,975, $4,599, $5,380, $5,682, $5,103, $5,247, $5,685 (7 values)