Question

credit card usage among college students
a university conducted a survey to understand credit card usage
among its students. the students were categorized based on their
year: first year, second year, and third year. the survey also
distinguished between students who pay their credit card balance in
full each month and those who carry a balance. the total number of
students surveyed was 600.
what is the marginal relative frequency of students who carry a credit
card balance?

Explanation:

Step1: Recall the formula for marginal relative frequency

Marginal relative frequency = \(\frac{\text{Row total}}{\text{Grand total}}\)

Step2: Identify the row total and grand total

The row total for students who carry a credit - card balance is \(200\). The grand total of students surveyed is \(600\).

Step3: Calculate the marginal relative frequency

Marginal relative frequency \(=\frac{200}{600}=\frac{1}{3}\approx0.33\)

Answer:

\(0.33\)