# Lab #4, Final Exam Review

SHORT ANSWER.  Write the word or phrase that best completes each statement or answers the question.
How many 4-digit codes using the digits 0 through 9 are possible if repetitions are allowed?
If the odds against a horse winning a race are 11:3, what is the probability that the horse will win the race?
Two dice are rolled. Find the probability of getting a sum greater than 6.
If a person filing as single has taxable income of \$135,090, what tax bracket is she in? What about a married person filing jointly?
Tax Rate
Single
Married Filing Jointly and Widow(er)
Married Filing Separately
10%
\$1-\$9,075
\$1-\$18,150
\$1-\$9075
\$1-\$12,950
15%
\$9,076-\$36,900
\$18,151-\$73,800
\$9,076-\$36,900
\$12,951-\$49,400
25%
\$36,901-\$89,350
\$73,801-\$148,85
\$36,901-\$74,425
\$49,401-\$127,55
28%
\$89,351-\$186,350
\$148,851-\$226,850
\$74,426-\$113,4255
\$127,551-\$206,600
33%
\$186,351-\$405,100
\$226,851-\$405,100
\$113,426-\$202,500
\$206,601-\$405,100
35%
\$405,101-\$406,750
\$405,101-\$457,600
\$202,551-\$228,800
\$405,101-\$432,200
39.60%
over \$406,750
over \$457,600
over \$228,800
over \$432,200
Use the chart from problem #5 to calculate the amount of tax that our single person would pay on income of \$44,152. Note: there are multiple steps… it is not just % * \$44,152.
A house sells for \$237,000 and a 50% down payment is made. A 30-year mortgage at 6.5% was obtained
Find the down payment.
Find the amount of the mortgage.
Find the monthly payment.
Find the total interest paid.

Find the missing value. Principal \$18,900, Rate 18.5%, Time ?, Simple Interest \$10,489.50
A 2-lb bag of Hershey’s miniatures contains 35 milk chocolate bars, 26 Krackel bars, 28 Mr. Goodbars, and 17 Special Dark bars. Set up a frequency distribution and find the probability that a b chosen from a randomly selected bag is
A Mr. Goodbar.
A Krackel or Special Dark.
Not a milk chocolate bar.
A house has a \$232,500.00 mortgage at 8%. The monthly payments are \$2222.70. Compute an amortization schedule for the first three months.
Payment Number                       Interest                          Payment to Principle                                      Balance of Loan
1

2

3

If an investor had 442 shares of stock last year how much did the investor receive? 52 weeks
HI
LO             STOCK           DIV
YLD%              P/E
VOL
CLOSE
NET

(1,000s)

CHG
66.01
40.51    ABC             1.17
2.2              5
2361
50.82
-2.00
A student loan is taken out for \$9200 at 7.4%.Find the interest accrued for 30-day month
As an experiment in a botany class, plants are placed in a greenhouse, and their growth in centimeters after 25 days is recorded, with the results shown below in a stem and leaf plot.

How many plants grew to 226 cm?
How many plants grew to 37 cm?
How many plants had their growth measured and recorded?
What was the smallest growth recorded for any plant?
Provided below are the sizes of 15 farms, in acres, randomly selected from the state of Oregon. Find the mean area for these 15 farms.
1920           361      123      215      132      438      443 122
135             382      481      257      217      123      321
Find the missing value.
Principal
Rate
Time
Simple Interest
\$10,900
20%
6 months

Consider the stock table below
What is the current price of the stock?
What are shareholders trying to sell it currently asking for?
87.84 ↓0.81(0.91%)  1:29 EDT – Nasdaq Real Time Price
Prev Close:                               88.65        Day’s Range:                                                 87.27 – 88.36
Open:                                        87.72        52wk Range:                                                 70.89 – 99.81
Bid                                  87.63 × 400        Volume:                                       16,715,420
Ask:                                87.64 × 300        Avg Vol (3m):                                       31,684,600
1y Target Est:                        115.66        Market Cap:                                     247.50B Beta:                                     0.89954        P/E (ttm):                                      92.10
Earnings Date:              Oct26-Oct30 (Est.)
EPS (ttm):                                  0.95
Div & Yield                    N/A  (N/A)
If a die is rolled one time, find the probability of getting a number greater than 5.
On a roulette wheel, there are 38 slots, 18 of which are colored black. If you bet \$5 on black and win, you get \$10 back. If black doesn’t come up, you lose your \$5. Find the expected value of playing the game 100 times.
Five hundred college graduates were asked how much they donate to their alma mater on an annual basis. Find the mode of their responses, summarized in the table.
Amount
Number
\$500 or more
52
Between \$0 and \$500
132
Nothing
276
40
Find the future value.
Principal
Rate
Compounded
Time
\$1050
16%
Quarterly
5.5 years
Assume a data set is normally distributed with mean 18 and standard deviation 3. If the data set contains 30 data values, approximately how many of the data values will fall within the range 15 to 21?

Provided below are the sizes of 15 farms, in acres, randomly selected from the state of Oregon. The mean of this sample is 566 acres.
3200
460
445
430
415
432
160
232
408
434
481
273
392
445
283

Find the median of the sample and compare it to the mean and discuss the difference.
Find the mean and the median if you throw out the 3200 acre farm which has the largest area by far. What does this tell you?
If a student scored 1268 on the SAT test which has a mean of 1,026 and a standard deviation of 210 and then scored 113 on an IQ test with a mean of 100 and a standard devaition of 15, determine which test she did better on and explain your reasoning.
The table below lists the average high temperature in degrees Fahrenheit for each month of the year on a particular island. Find the mode and the median.
Month
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
High
80
81
81
82
85
85
88
88
88
86
86
81
Find the effective rate when the stated rate is 16.5% and the interest is compounded quarterly.
A single card is drawn from an ordinary 52-card deck.Find the probability of getting a diamond or a 6.
Of the next 30 trials on the docket in a county court, 6 are homicides, 12 are drug offenses, 4 are assaults, and 8 are property crimes. If jurors are assigned to trials randomly, what’s the probability that a given juror won’t get a drug offense case?
Suppose that you buy a bond with face value \$4000 that was originally issued 18 months ago. The maturity date is 4 years from the time it was issued, and the interest rate is 3% simple interest per year. If you pay \$3560 for the bond and keep it until the maturity date.
Find the amount of interest that will be paid on the bond at maturity, and the total amount of money you’ll get from the issuer at that point.
Find the profit you’d make on this transaction.
What was the lowest price that the stock sold for during the last 52 weeks? 52 weeks
HI
LO             STOCK        DIV
YLD%             P/E
VOL
CLOSE
NET
68.76
42.24    ABC             1.19
3.0             8
(1,000s) 3589
54.14
CHG 2.43
A house is purchased for \$216,000 with a 20% down payment. A mortgage is secured at 5% for 30 years. Find the monthly payment.
Suppose that the mean sale price for existing homes in the United States in is \$214,500. Assume that sale prices are normally distributed with a standard deviation of \$41,000.
Fill in the blanks below the normal curve with the appropriate information.

μ – 3σ        μ – 2σ         μ – σ             μ          μ + σ                  μ + 2σ        μ + 3σ
Find the percentage of existing homes that:
sold for between \$132,500 and \$296,500
sold for more than \$255,500
Joan purchased a refrigerator for \$750. She made a down payment of \$95 and paid \$76 a month for 12 months. Find the total installment price of the refrigerator.
Katie had an unpaid balance of \$966.70 on her credit card statement at the beginning of February. She made a payment of \$130.00 during the month, and made purchases of \$28.02. If the interest rate on Katie’s credit card was 4.5% per month on the unpaid balance, find her finance charge and the new balance on March 1.
Find the future value of the loan using simple interest.
P = \$1700, r = 2%, t = 8 years
Suppose you bought 400 shares of a stock at \$39.64 using a broker that charged a 1% commission.
Find the total cost of buying the stock.
If you sold them later at \$40.47 using an online brokerage with a \$9.95 flat fee, would you have made or lost money? How much?
Find the future value of a \$40,000 investment with 9.8% interest compounded continuously 27 years after it’s started.
The lock on a storage facility is controlled by a keypad containing digits 1 through 8. How many four-digit codes are possible if digits cannot be repeated?
Dr. Sand borrowed some money to buy new furniture for his office. He paid \$158.13 simple interest on a 5.5-year loan at 2.5%. Find the principal.

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