Forbes magazine published data on the best small firms in 1993. These were firms with annual sales o
Question: Forbes magazine published data on the best small firms in 1993. These were firms with annual sales of more than five and less than $350 million. Firms were ranked by five-year average return on investment. The data extracted are the age and annual salary of the chief executive officer for the first 60 ranked firms. In question are the distribution patterns for the ages and the salaries. Small companies were defined as those with annual sales greater than five and less than $350 million. Here are the ages of those 60 CEOs.
32 33 36 37 38 40 41 43 43 44
44 45 45 45 45 46 46 47 47 47
48 48 48 48 49 50 50 50 50 50
50 51 51 52 53 53 53 55 55 55
56 56 56 56 57 57 58 58 59 60
61 61 61 62 62 63 69 69 70 74
(Source: Forbes, November 8, 1993, "America's Best Small Companies,". )
a) Fill up the following table
Class | Frequency | Relative Frequency |
30£x<35 | ||
35£x<40 | ||
40£x<45 | ||
45£x<50 | ||
50£x<55 | ||
55£x<60 | ||
60£x<65 | ||
65£x<70 | ||
70£x<75 | ||
Sum = 60 | Sum = 1 |
Solution Format: Word Document
