I\'m not sure where to begin with relative frequency. Can you provide some detai

Question

I'm not sure where to begin with relative frequency. Can you provide some detail please, thanks.

BA. Forbes magazine published data on the best small firms in 2012.These were firms which had been publicly traded for at least a year, have a stock price of at least $5 per share, and have reported annual revenue between $5 million and $1 billion. Table 1.37 shows the ages of the chief executive officers for the first 60 ranked firms. Age Frequency Relative Frequency Cumulative Relative Frequency 40-44 45-49 55-59 16 60-64 65-69 70-74

Explanation / Answer

In order to find the relative frequency, first find the sum of all frequencies. Here sum of all frequencies is 60.

for each class relative frequency = class frequency / sum of frequencies

For example for class "40-44" , relative frequency = 3/60 = 0.05

Similarly for class "45-49" , it is 11/60 = 0.1833

below table gives all the relative frequencies

Age Frequency Relative Frequency Cumulative Relative Frequency 40-44 3 0.05 0.05 45-49 11 0.18 0.23 50-54 13 0.22 0.45 55-59 16 0.27 0.72 60-64 10 0.17 0.88 65-69 6 0.10 0.98 70-74 1 0.02 1.00

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