Pamela Mason, a consultant for a small local brokerage firm, was attempting to design investment programs attractive to senior citizens

Pamela Mason, a consultant for a small local brokerage firm, was attempting to design investment programs attractive to senior citizens. She knew that if potential customers could obtain a certain level of return, they would be willing to risk an investment, but below a certain level, they would be reluctant. From a group of 50 subjects, she obtained the following data regarding the various levels of return required for each subject to invest $1,000

Indifference Point	Frequency
$70–74	2
75–79	5
80–84	10
85–89	14
90–94	11
95–99	3
100–104	3
105–109	2

Use the data given in the table to construct a “more-than” cumulative frequency distribution and ogive.
Use the data given in the table to construct a “less-than” cumulative frequency distribution and ogive.
Use your ogive to estimate what proportion of the flow occurs at less than 1,30thousands of gallons per minute.

Solutions

a.

b.

c.

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