Frequency Distribution Analysis of Checking Account Balances

Identification of Account Balance Intervals

• Data regarding current checking account balances are organized into specific numerical intervals to facilitate frequency counting.

• Interval: $0$ to $99$

  • This range includes all accounts with balances less than a threshold of $100$.
  • The total frequency count for this interval is determined to be $6$.
  • The manual counting process for this segment follows the sequence: one, two, three, four, five, and six.

• Interval: $100$ to $200$

  • The frequency count for account balances within this range is also determined to be $6$.
  • The identification of these points involves a counting sequence that totals $6$ altogether.

• Interval: $200$ to $300$

  • An initial observation suggested a frequency of $7$ for this interval.
  • During the manual verification process (counting one, two), it is observed that the total may be $6$.

• Interval: $300$ to $400$

  • The manual count for this range is identified as one, two, and three.
  • The total frequency for this interval is recorded as $3$.

Data Organization Methodology

• Color Coding Techniques
  • Color changes are implemented for each new interval (e.g., changing colors when moving from the $0 - 99$ range to the $100 - 200$ range).
  • Color coding is utilized to maintain clarity and prevent the data categorization process from becoming disorganized or confusing.
  • The transition between sets is clearly marked by switching tools or colors to signify the start of a new discrete data set.

Questions & Discussion

• Question: So, looking up here, how many people have less than a $100$ in their account?

• Response: Six. Six. Six altogether.

• Question: Is it six for the next one ($100$ to $200$) too?

• Response: For the interval between $100$ and $200$, a separate color is used to verify the count. The count starts one, two, and concludes with a total of $6$ altogether.

• Dialogue on the $200$ to $300$ Range:

  • One participant states that the next count is $7$ for the range between $200$ and $300$.
  • Upon attempting to count "one, two," the observer notes "That was one. That's it," eventually concluding that the total count for this segment is $6$.