Log inSign up for FREE
Library

1.4 MATH: Box and Whisker Plots for Banking Fees (Due 8-19-22)

Last updated 12 months ago
5 questions
Note from the author:
People who have checking accounts can be charged fees such as management, minimum balance, overdraft, ATM, and others. They can end up having to pay these banking fees and in this activity, you will practice plotting sample banking fee charges and analyzing their interquartile ranges.

Math Topics
  • Box and Whisker Plots
Personal Finance Topics
  • Bank fees
Complete all questions and use complete sentences for full credit.
People who have checking accounts can be charged fees such as management, minimum balance, overdraft, ATM, and others. They can end up having to pay these banking fees and in this activity, you will practice plotting sample banking fee charges and analyzing their interquartile ranges.

Math Topics
  • Box and Whisker Plots
Personal Finance Topics
  • Bank fees
Complete all questions and use complete sentences for full credit.
Part I: Examples



Part II: Practice Problems
Complete the following practice problems and show your work in the space provided. Then, write your final solution in the answer boxes.
Required
40
The following data set shows the monthly bank fees for members that are generation X while in their first-year college. (Round your answers to the nearest hundredth)

66; 66; 67; 67; 68; 68; 68; 68; 68; 69; 69; 69; 70; 71; 72; 72; 72; 73; 73; 74


Maximum=_______
Minimum=_______
Median=_______
Lower Quartile (Q1)=_______
Upper Quartile (Q3)=_______
Interquartile Range (Q3 - Q1)=_______

Construct a Box and Whisker Plot.
Required
50
Overdraft fees are charges you receive from your bank or credit union when you try to pay or withdraw more money that you have available in your checking account. The following data is the dollar amount that banks in 2019 were charging for overdraft fees. Construct a box and whisker plot and interpret the interquartile range. (Round your answers to the nearest hundredth)

20 25 25 28 29 30 30 33 34 34 35 35 35 35 35 35 35 36 36 36 36 36 36 37 38 38 39 39


Maximum=_______
Minimum=_______
Median=_______
Lower Quartile (Q1)=_______
Upper Quartile (Q3)=_______
Interquartile Range (Q3 - Q1)=_______

Construct a Box and Whisker Plot.


Interpret the interquartile range. (Remember that 50% of your data falls in this range)
_______
Required
50
The following data set shows the monthly bank fees for members that are generation X the first year after they graduated college. Construct a box plot from the data listed and analyze the Interquartile Range. (Round your answers to the nearest hundredth)

61; 61; 62; 62; 63; 63; 63; 65; 65; 65; 66; 66; 66; 67; 68; 68; 68; 69; 69; 69


Maximum=_______
Minimum=_______
Median=_______
Lower Quartile (Q1)=_______
Upper Quartile (Q3)=_______
Interquartile Range (Q3 - Q1)=_______

Construct a Box and Whisker Plot.


Interpret the interquartile range. (Remember that 50% of your data falls in this range)
_______

Part III: Reflection


Required
60
Refer to the box & whisker graphs below that show the average monthly fees for Cameron Credit Union and Johnson Bank and Savings. Complete the table using the box and whisker plots for Cameron Credit Union and Johnson Bank and Savings.


Cameron Credit Union



Median= _______
Minimum=_______
Maximum=_______
Lower quartile =_______
Upper quartile=_______
Interquartile range=_______


Johnson Bank and Savings


Median= _______
Minimum=_______
Maximum=_______
Lower quartile =_______
Upper quartile=_______
Interquartile range=_______
Required
30

What are some ways that you think you can do to avoid banking fees?