- 25 Marks
QM – OCT 2022 – L2 – Q1 – Frequency Table Analysis for Account Balances
Explain class width, class limits, and group relative percentage frequencies for a frequency table of minimum account balances; calculate these values; and draw a group relative percentage histogram based on the calculations.
Question
The following frequency table indicates the number of individuals with minimum balance in their
Current Accounts at MUMUADU Rural Bank.
| Minimum Balance in Ghana Cedis (GHS) | Frequency |
|---|---|
| 0 and 1,000.00 | 1200 |
| 1,000 and under 2,000 | 150 |
| 2,000 and under 3,000 | 250 |
| 3,000 and under 4,000 | 230 |
| 4,000 and under 5,000 | 50 |
| 5,000 and under 6,000 | 5 |
| 6,000 and under 7,000 | 2 |
| 7,000 and under 8,000 | 1 |
(a) Explain (in your own words) the following terms in relation to the various balances on
the accounts. (i) Class width [2 Mark] (ii) Class limits [2 Mark] (iii) Group relative percentage frequencies [2 Mark]
(b) Calculate ,
(i) The Class width [4 Marks] (ii) The Class limits [4 Marks] (iii) The group relative percentage frequencies of each group [4 Marks]
(c) Using (b)(iii) above draw a group relative percentage histogram for the Account Balances at
MUMUADU Rural Bank.
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