Question

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 pay their credit card balance in full?

Explanation:

Step1: Recall the formula for marginal relative frequency

Marginal relative frequency = \(\frac{\text{Frequency of the category}}{\text{Total frequency}}\)

Step2: Identify the relevant values

The number of students who pay in full is \(400\), and the total number of students surveyed is \(600\).

Step3: Calculate the marginal relative frequency

Using the formula \(\frac{400}{600}=\frac{2}{3}\approx0.67\)

Answer:

\(0.67\)