Drawing boundaries between discrete features based on attribute values in ArcGIS for Desktop?

There is a point feature class with a certain numeric attribute (let us say, populated places with population).

I wonder if there is, in ArcGIS, a way to draw polygons such that the sum of the attribute for all the points within each polygon does not exceed a certain value.

Does anyone know how this might be done?

I'm using ArcGIS 10.2 for Desktop.