The monthly salaries of a sample of 100 employees were rounded to the nearest ten dollars. They ranged from a low of $1,040 to a high of $1,720. If we want to condense the data into seven classes, what is the most convenient class interval?
There's a 680 difference between the high and low. How about using $100 intervals?
To determine the most convenient class interval for condensing the data into seven classes, we need to calculate the range of the data and then divide it by the desired number of classes.
First, find the range:
Range = Highest value - Lowest value
Range = $1,720 - $1,040
Range = $680
Next, divide the range by the desired number of classes:
Class Interval = Range / Number of Classes
Class Interval = $680 / 7
To make the class interval convenient, we should round it to the nearest ten dollars (since salaries were rounded to the nearest ten dollars). Therefore, the most convenient class interval would be $100.
So, for condensing the data into seven classes, the most convenient class interval would be $100.