Q The National Association of Real Estate sellers collected the following data on a sample of 130 sales people representing their total commission earnings annually
Earnings Frequency
$ 5,000 or less 5
$ 5,001 - $ 10,000 9
$ 10,001 - $ 15,000 11
$ 15,001 - $ 20,000 33
$ 20,001 - $ 30,000 37
$ 30,001 - $ 40,000 19
$ 40,001 - $ 50,000 9
Over $ 50,000 7
i) About what proportion of the sales people earns more than $ 25,000?
ii) Approximately how much could a real estate salesperson whose performance was about 25 percent from the top expect to earn annually?
Q Fund info provides information to its subscribers to enable them to evaluate the performance of mutual funds; they are considering as potential investment vehicles. A recent survey of funds whose stated investment goal was growth and income produced the following data on total annual rate of return over the past five years:
Annual Return (%) Frequency
11.0-11.9 2
12.0-12.9 2
13.0-13.9 8
14.0-14.9 10
15.0-15.9 11
16.0-16.9 8
17.0-17.9 3
18.0-18.9 1
a) Because the distribution is roughly bell-shaped, between what values would you expect to find 68 percent of the observations? What percentage of the observations actually does fall in that interval?