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Fortune provides a list of America’s largest corporations based on annual revenue. Shown below are the 50 largest corporations, with annual revenue expressed in billions of dollars ( CNN Money website, January 15, 2010). Summarize the data by constructing the following: a. A frequency distribution (classes 0–49, 50–99, 100–149, and so on). b. A relative frequency distribution. c. A cumulative frequency distribution. d. A cumulative relative frequency distribution. e. what do these distributions tell you about the annual revenue of the largest corporations in America? f. Show a histogram. Comment on the shape of the distribution. g. what is the largest corporation in America and what is its annual revenue?

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STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

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BuyFindarrow_forward

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
Chapter 2.2, Problem 21E
Textbook Problem
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Fortune provides a list of America’s largest corporations based on annual revenue. Shown below are the 50 largest corporations, with annual revenue expressed in billions of dollars (CNN Money website, January 15, 2010).

Chapter 2.2, Problem 21E, Fortune provides a list of Americas largest corporations based on annual revenue. Shown below are

Summarize the data by constructing the following:

  1. a. A frequency distribution (classes 0–49, 50–99, 100–149, and so on).
  2. b. A relative frequency distribution.
  3. c. A cumulative frequency distribution.
  4. d. A cumulative relative frequency distribution.
  5. e. what do these distributions tell you about the annual revenue of the largest corporations in America?
  6. f. Show a histogram. Comment on the shape of the distribution.
  7. g. what is the largest corporation in America and what is its annual revenue?

a.

To determine

Construct a frequency distribution for the data.

Explanation of Solution

Calculation:

The data represents the list of 50 America’s largest corporations with annual revenue expressed in billions of dollars and the frequency distribution is constructed by using the class 0-49, 40-99,100-149 and so on.

Frequency:

The frequencies are calculated by using the tally mark and the range of the data is from 0 to 449.

  • Based on the given information, the class intervals are 0-49, 40-99,100-149, …, 400-449.
  • Make a tally mark for each value in the corresponding revenue class and continue for all values in the data.
  • The number of tally marks in each class represents the frequency, f of that class.

Similarly, the frequency of remaining classes for the revenue is given below:

RevenueTallyFrequency
0-49|||||6
50-99||||||

b.

To determine

Construct a relative frequency distribution for the data.

c.

To determine

Construct a cumulative frequency distribution for the data.

d.

To determine

Construct a cumulative relative frequency distribution for the data.

e.

To determine

Explain about the annual revenue of the largest corporations in America using the distributions.

f.

To determine

Construct the histogram and comment on the shape of the distribution.

g.

To determine

Find the largest corporation in America and find its annual revenue.

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Chapter 2 Solutions

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