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 = \(\frac{\text{Total number in a category}}{\text{Total number of data points}}\)

Step2: Identify the relevant values

The total number of students who carry a balance is \(200\), and the total number of students surveyed is \(600\).

Step3: Calculate the marginal relative frequency

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

Answer:

\(0.33\)