Final Exam Fall2021

Final Exam Fall2021Name___________________________

Math 117

Quantitative Mathematics

1. The following data is the ages of people buying their first car.

16, 14, 25, 26, 24,

Find the following:

A. Mean_____

B. Median____

C. Mode_____

D. Range_____

E. Standard Deviation_______

For standard deviation, use the formula below:

(x- x)2

_______

n-1

x= element

x= mean

n = number of elements

2. Make a scatter graph for the data above. Be sure to label your graph and draw the line of best fit.

DateAmount of sales in dollars

2010500

2011600

2012400

2013700

2018800

3. Make a cumulative frequency chart from the following ages of 20 car buyers.

19,19,19,19,19,20,20,20,20,24,24,24,25,25,25,25,28, 28, 28, 28

Ages TotalRelative FrequencyCumulative Frequency

4. Describe in a few sentences what is the placebo effect.

5. The following chart contains all the possible results of flipping 3 coins the same time or flipping one coin 3 times

HHH

HHT

HTH

HTT

THH

THT

TTH

TTT

Find the following probabilities

A. 3 tails________

B. 3 heads_________

C. At least one head________

D. At least two heads__________

E. More than one tail_________

F. More than two heads_______

G. 4 heads________

H. No tails________

I. 1 more heads______

J. 2 or more tails_____

6. Sums of rolling 2 dice:

234567

345678

456789

5678910

67891011

789101112

Find the probabilities:

A. P (sum of 6) _______

B. P (sum of 4) _______

C. P (sum greater than 9) _____

D. P (sum less than 6) _______

E. P (even sum) _____

F. P (odd sum) _____

G. P (a sum of at least 8)______

7. A jar contains the follow 30 jelly beans:

6 red, 8 blue, 2 purple, 5 yellow, 7 green, 2 white

Find the following probabilities.

A. P (blue) _______

B. P (green or purple) _____

C. P (white) _____

You select a jelly bean and RETURN it to the jar before selecting the next jelly bean. You do not eat it.

D. P (red and a red and a red) ______

E. P (green and a blue and a yellow) _____

You select a jelly bean and EAT it before selecting the next jelly bean.

F. P (blue and a blue and a blue) _____

G. P (purple and a green and a red) ______

8. Find the odds in favor of landing on an 8 on a spinner numbered 1 – 8.

Formula

P(A)

P (Not A)

9. Find the odds against getting a head on the flip of a coin.

Formula

P( Not A)

P (A)

10. Use 1 – (Complement)n

Find the probability of rolling at least one 4 on five rolls of one die.

____________

11. How many ways can 6 people line up for a bus? ____________

12. A restaurant’s dinner menu includes 5 appetizers, 8 main dishes, 6 vegetables, and 3 beverages? How many different meals can be selected___________?

13. Which formula would you use for the problem below? Circle your answer.

NCR orNPR

A baseball team is being formed with 30 children. Nine children will rotate through all nine positions having a chance to play each position. Which formula will compute the correct number of arrangement of 20 people 9 at a time?

Finance

14. Match the following questions based on the summary of information below

A. How much is the total cost for the home? _______

B. How much time do you have to pay the loan? ________

C. What is the interest rate? ____________

D. How much is the principal? __________

E. What is the monthly payment? _____________

F. What is the total interest paid_____________

Loan Summary

PRINCIPAL $250,000

INTEREST RATE 4.62%

LENGTH 30 years

Payment Summary

NUMBER OF PAYMENTS360

MONTHLY PAYMENT$1,284.60

TOTAL PRINCIPAL PAID $250,000.00

TOTAL INTEREST PAID$212,456.28

TOTAL PAID$462,456.28

COMPOUND INTEREST FORMULAS

Do not do #15, #17 or #18 Do # 16

15. Use formula 1 to determine the amount of savings for a deposit of $15,000, at a 6% rate of interest for 8 years compounded annually.

_____________

16. Use formula 2 to determine the amount of saving for a deposit of $20,000

At 4.5% rate of interest for 6 years compounded quarterly.

___________

17. Use formula 3 to determine the amount of saving for a monthly deposit of $100 in an account with 4% rate of interest for 25 years compounded monthly.

___________

18. Use formula 4 to determine the amount of the monthly deposit musts be made to have $500,000 at the end of 25 years.

_____________