Q1) Farming has changed from early 1900s. In early 20th century, machinery gradually replaced animal power. For instance, in 1910 U.S. farms used 24.2 million horses and mules and only about 1,000 tractors.
By 1960, 4.6 million tractors were utilized and only 3.2 million horses and mules. In 1920 there were over 6 million farms in United States. Today there are less than 2 million.
Given below is number of farms, in thousands, for each of 50 states. Write a paragraph summarizing your findings.
Q2) Merrill Lynch recently completed study regarding size of online investment portfolios (stocks, bonds, mutual funds, and certificates of deposit) for sample of clients in 40- to 50-year-old age group.
Listed following is value of all investments in thousands of dollars for the 70 participants in the study.
a) Organize data into a frequency distribution. How many classes would you propose? What value would you propose for class interval?
b) Sketch a histogram. Interpret your result.