(a) The frequency distribution shows the range of prices of a brand of a car sold by a dealer and the corresponding quantity demanded.
Price
(N1,000,000.00
1.0 - 1.9
2.0 - 2.9
3.0 - 3.9
4.0 - 4.9
5.0 - 5.9
Number of Vehicles
23
48
107
90
32
(b) Represent the information in a histogram and use the histogram to determine the most preferred selling price for the brand of car.
Verified Correct Answer: .
Step-by-Step Mathematical Solution
(a) The expected table with class boundaries was
Price
(N1,000,000.00)
Class
Boundaries
Number of Vehicles
1.0 - 1.9
0.95 - 1.95
23
2.0 - 2.9
1.95 - 2.95
48
3.0 - 3.9
2.95 - 3.95
107
4.0 - 4.9
3.95 - 4.95
90
5.0 - 5.9
4.95 - 5.95
32
(b) From the first graph, the most preffered selling price for the brand of car is 2.95 + 0.75 = 3.70
= N1,000,000 x 3.70 = N3,700,000.00
Source: Myschool Past Questions Archive (Record #56278)