(a)
(i) Class width refers to the difference between the upper and lower boundaries of each class interval in a frequency distribution. In the context of account balances, it represents the range of balances (in Ghana Cedis) covered by each group, such as the span from one minimum balance level to the next, helping to standardize how data is grouped for analysis in banking reports to understand customer savings patterns.

(ii) Class limits are the minimum and maximum values that define the boundaries of each class interval. For account balances, the lower-class limit is the smallest balance included in the group, and the upper-class limit is the largest, ensuring no overlap and complete coverage of all possible balances, which is crucial for accurate risk assessment in rural banking where minimum balances affect liquidity.

(iii) Group relative percentage frequencies represent the proportion of the total observations that fall into each class interval, expressed as a percentage. In relation to account balances, this shows what percentage of customers have balances in a specific range, aiding banks like MUMUADU Rural Bank in segmenting customers for targeted financial products or identifying concentration risks in low-balance accounts.

(b)
(i) The class width is consistent across all intervals. For example, the first class is from 0 to 1,000 (width = 1,000 – 0 = 1,000). Similarly, the second class is from 1,000 to under 2,000, but assuming continuous data with upper limit 2,000, width = 1,000. All classes have a width of 1,000 Ghana Cedis.

(ii) The class limits for each group are:

• 0 and 1,000.00: Lower limit = 0, Upper limit = 1,000
• 1,000 and under 2,000: Lower limit = 1,000, Upper limit = 2,000
• 2,000 and under 3,000: Lower limit = 2,000, Upper limit = 3,000
• 3,000 and under 4,000: Lower limit = 3,000, Upper limit = 4,000
• 4,000 and under 5,000: Lower limit = 4,000, Upper limit = 5,000
• 5,000 and under 6,000: Lower limit = 5,000, Upper limit = 6,000
• 6,000 and under 7,000: Lower limit = 6,000, Upper limit = 7,000
• 7,000 and under 8,000: Lower limit = 7,000, Upper limit = 8,000

(iii) First, calculate the total frequency: 1200 + 150 + 250 + 230 + 50 + 5 + 2 + 1 = 1,888.
Group relative percentage frequencies:

• 0-1,000: (1200 / 1888) × 100 ≈ 63.56%
• 1,000-2,000: (150 / 1888) × 100 ≈ 7.94%
• 2,000-3,000: (250 / 1888) × 100 ≈ 13.24%
• 3,000-4,000: (230 / 1888) × 100 ≈ 12.18%
• 4,000-5,000: (50 / 1888) × 100 ≈ 2.65%
• 5,000-6,000: (5 / 1888) × 100 ≈ 0.26%
• 6,000-7,000: (2 / 1888) × 100 ≈ 0.11%
• 7,000-8,000: (1 / 1888) × 100 ≈ 0.05%

(c) The group relative percentage histogram would have the x-axis labeled as “Minimum Balance in Ghana Cedis (GHS)” with class intervals (0-1,000, 1,000-2,000, etc.), and the y-axis labeled as “Relative Percentage Frequency (%)” ranging from 0% to 70%. Bars would be drawn adjacent without gaps (since continuous data), with heights corresponding to the percentages calculated in (b)(iii): the first bar (0-1,000) tallest at ≈63.56%, followed by shorter bars for 2,000-3,000 (≈13.24%) and 3,000-4,000 (≈12.18%), and very short bars for higher classes tapering off to near zero. This histogram shows a right-skewed distribution, indicating most customers at MUMUADU Rural Bank have low minimum balances (under GHS 1,000), which could imply liquidity challenges or a focus on low-income rural clientele, aligning with typical Ghanaian rural banking trends under BoG regulations emphasizing financial inclusion. In practice, use graph paper to plot accurately for exam purposes.