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Top credit card issuers, by region. The Nilson Report (December 2015) published a list of the top 150 credit card issuers worldwide. The issuers (e.g., American Express, MasterCard, Visa) were ranked based on outstanding debt during the year. The table gives a breakdown of the regions in the world served by the top 150 credit card issuers.

Worldwide Region

Number of credit
card issuers



Asia-Pacific

48


Canada

10


Europe

34


Latin America

29


Middle East/Africa

3


United States

26


Total

150


a. One of the top 150 credit card issuers is selected at random, and the region it serves is determined. What type of data (quantitative or qualitative) is measured?

b. For each region in the table, calculate the percentage of the 150 top credit card issuers that fall into that region.

c. Use the percentages, part b, to construct a relative frequency bar graph for the data summarized in the table.

d. Based on the bar graph, make a statement about the regions that most of the top 150 credit card users serve.

Short Answer

Expert verified
  1. Quantitative.
  2. For Asia-Pacific, Canada, Europe, Latin America, the Middle East/Africa, and the United States, the percentages are 32, 6.67, 22.67, 19.33, 2, 17.33, respectively.

d. The credit card issuers with outstanding debts are most in the Asia-Pacific region and least in the Middle East/Africa.

Step by step solution

01

Specifying the type of data

The Nilson Report dealt with the outstanding debts of the credit card issuers. Outstanding debts always remain numerical, so it has to be quantitative instead of qualitative.

02

Calculating percentages

The calculations of the percentage of the credit card issuers in the specified regions are shown below:

Percentage=Numberof issuers in a regionTotalnumberofissuers100ForAsia-Pacificregion=48150100=32.67%ForCanada=10150100=6.67%ForEurope=34150100=22.67%ForLatinAmerica=29150100=19.33%ForMiddleEast/Asia=3150100=2%ForUnitedStates=26150100=17.33%

03

Elucidating on the bar graph

The bar graph has been formed with the help of the percentages calculated in Step 2. The vertical axis represents the relative frequencies (in percentages), and in the horizontal axis, the regions are plotted.

04

Interpreting the iteration

From the bar graph, it can be deduced that the Asia-Pacific region has the highest number of credit card issuers because the bar of that region is the tallest. On the other hand, the bar of the Middle East/Africa is the shortest, which indicates that the sample contains the least number of credit card issuers from this region.

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