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MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Solve the problem.
1) The government of a town needs to determine if the city's residents will support the construction
of a new town hall. The government decides to conduct a survey of a sample of the city's residents.
Which one of the following procedures would be most appropriate for obtaining a sample of the
town's residents?
A) Survey a random sample of employees at the old city hall.
B) Survey every 9th person who walks into city hall on a given day.
C) Survey the first 400 people listed in the town's telephone directory.
D) Survey a random sample of persons within each geographic region of the city.
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
2) A random sample of 30 high school students is selected. Each student is asked how much
time he or she spent watching television during the previous week. The following times (in
hours) are obtained:
2)
7, 15, 9, 12, 9, 7, 9, 8, 6, 12, 10, 8, 8, 7, 10, 9, 6, 6, 11, 8, 6, 8, 15, 10, 7, 11, 7, 10, 9, 8
Construct a frequency distribution for the data.
Construct a histogram and a frequency polygon for the given data.
3)
Years of Education
Number of People (thousands)
Beyond High School
1
23
2
13
3
12
4
14
5
4
6
2
1
3)
1)
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Solve the problem.
4)
4)
Which one of the following is true according to the graph?
A) The percent of people with years of higher education greater than those shown by any
rectangular bar is equal to the percent of people with years of education less than those
shown by that bar.
B) More people had 4 years of education beyond high school than 3 years.
C) If the sample is truly representative, then for a group of 50 people, we can expect about 32 of
them to have one year of education beyond high school.
D) The graph is based on a sample of approximately 62 thousand people.
5) The stem-and-leaf plot below displays the ages of 30 attorneys at a small law firm.
Stems
3
4
5
6
7
8
Attorneys
99
00112589
1234458
1233458
0137
12
What is the age of the oldest attorney? What is the age of the youngest attorney?
A) The oldest attorney is 92 years old. The youngest attorney is 21 years old.
B) The oldest attorney is 81 years old. The youngest attorney is 38 years old.
C) The oldest attorney is 82 years old. The youngest attorney is 39 years old.
D) The oldest attorney is 72 years old. The youngest attorney is 49 years old.
2
5)
Describe the error in the visual display shown.
6)
6)
The volume of our sales has doubled!!!
A) The length of a side has doubled, but the area has been unchanged.
B) The length of a side has doubled, but the area has been multiplied by 4.
C) The length of a side has doubled, but the area has been multiplied by 8.
D) There is no error.
Find the mean for the group of data items. Round to the nearest hundredth, if necessary.
7) 5.4, 4, 3.4, 8.4, 5.4, 1.1, 5.4, 9.5, 9.5, 7.5
A) 5.96
B) 6.62
C) 4.88
D) 5.01
7)
Find the mean for the data items in the given frequency distribution. Round to the nearest hundredth, if necessary.
8)
8)
Score
Frequency
x
f
1
3
2
5
3
4
4
6
5
10
6
7
7
11
8
8
9
12
10
12
A) 5.15
B) 7.91
Find the median for the group of data items.
9) 1.1, 2.4, 1.6, 2.5, 1.1, 2.4, 1.1, 8.3, 8.3, 1.9
A) 1.9
B) 1.1
C) 5.91
D) 6.54
C) 2.15
D) 2.4
9)
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
Solve the problem.
10) Six people from different occupations were interviewed for a survey, and their annual
salaries were as follows: $12,000, $20,000, $25,000, $37,000, $67,500 and $125,000. What is
the median annual salary for the six people?
10)
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Find the mode for the group of data items.If there is no mode, so state.
11) 1.2, 2.3, 1.5, 2.5, 1.2, 2.3, 1.2, 8.4, 8.4, 1.9
A) 8.4
B) 1.2
C) no mode
3
D) 1.5
11)
Find the midrange for the group of data items.
12) 1.2, 2.1, 1.7, 2.7, 1.2, 2.1, 1.2, 8.1, 8.1, 1.8
A) 4.65
B) 4.9
C) 1.65
D) 1.95
For the given data set, find the a. mean b. median c. mode (or state that there is no mode) d. midrange.
13) Ages of teachers in the mathematics department of a certain high school:
30, 55, 33, 58, 30, 55, 30, 48, 48, 43
A) a. 43
B) a. 26.7
C) a. 43
D) a. 31.5
b. 45.5
b. 45.5
b. 45.5
b. 45.5
c. 30
c. 30
c. 48
c. 30
d. 44
d. 44
d. 44
d. 44
Find the range for the group of data items.
14) 8, 9, 10, 11, 12
A) 10
B) 4
C) 8
D) 12
15) 7, 7, 7, 19, 24, 24, 24
A) 17
B) 31
C) 12
D) 19
16) 5, 17, 5, 17, 5, 17, 5, 17
A) 22
B) 11
C) 17
D) 12
12)
13)
14)
15)
16)
A group of data items and their mean are given. Find a. the deviation from the mean for each of the data items and b.
the sum of the deviations in part a.
17) 73, 73, 75, 78, 78, 78, 79, 80, 83, 83; Mean = 78
17)
A) -5, -5, -3, 0, 0, 0, 1, 2, 5, 5; 26
B) 5, 5, 3, 0, 0, 0, 1, 2, 5, 5; 0
C) -5, -5, -3, 0, 0, 0, 1, 2, 5, 5; 0
D) 5, 5, 3, 0, 0, 0, 1, 2, 5, 5; 26
Find the standard deviation for the group of data items.
18) 14, 19, 14, 19, 14, 19, 14, 19
5 2
A)
B) 25
7
18)
C)
5
2 7
D)
25
4
The scores on a driver's test are normally distributed with a mean of 100. Find the score that is:
19) Find the score that is 3 standard deviations above the mean, if the standard deviation is 20.
A) 140
B) 103
C) 160
D) 120
20) Find the score that is 2 standard deviations below the mean, if the standard deviation is 22.
A) 78
B) 122
C) 144
D) 56
21) Find the score that is 2
A) 40
1
standard deviations below the mean, if the standard deviation is 24.
2
B) 160
C) 76
19)
20)
21)
D) 52
Suppose that prices of a certain model of new homes are normally distributed with a mean of $150,000. Use the
68-95-99.7 rule to find the percentage of buyers who paid:
22) between $149,200 and $150,800 if the standard deviation is $800.
22)
A) 34%
B) 99.7%
C) 95%
D) 68%
4
Use a table of z-scores and percentiles to find the percentage of data items in a normal distribution that lie between:
23) z = 0.3 and z = 1.4
23)
A) 38.21%
B) 91.92%
C) 61.79%
D) 30.13%
Use the table of z-scores and percentiles to find the percentage of data items in a normal distribution that lie a. above
and b. below the given score.
24) z = 0.3
24)
A) 0%, 100%
B) 61.79%, 38.21%
C) 61.79%, 61.79%
D) 38.21%, 61.79%
A set of data items is normally distributed with a mean of 60. Convert the data item to a z-score, if the standard
deviation is as given.
25) data item: 50; standard deviation: 10
25)
A) -10
B) 1
C) 10
D) -1
Suppose that prices of a certain model of new homes are normally distributed with a mean of $150,000. Use the
68-95-99.7 rule to find the percentage of buyers who paid:
26) more than $152,400 if the standard deviation is $1200.
26)
A) 2.5%
B) 95%
C) 47.5%
D) 97.5%
Solve the problem.
27) A student scores 56 on a geography test and 279 on a mathematics test. The geography test has a
mean of 80 and a standard deviation of 20. The mathematics test has a mean of 300 and a standard
deviation of 14. If the data for both tests are normally distributed, on which test did the student
score better?
A) The student scored the same on both tests.
B) The student scored better on the geography test.
C) The student scored better on the mathematics test.
27)
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
28) The combined SAT scores of the freshman class at a particular university are normally
distributed with a mean of 1000 and a standard deviation of 100. What percentage of the
freshmen class had combined SAT scores above 1110?
28)
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
29) A survey was conducted of 418 teenagers. Thirty-five percent of the teenagers said they
occasionally smoked cigarettes. a. Find the margin of error for this survey. b. Write a statement
about the percentage of teenagers who occasionally smoke cigarettes.
A) a. ± 4.9% b. There is a 99% probability that the true population percentage lies between 30.1%
and 39.9%.
B) a. ± 4.9% b. There is a 95% probability that the true population percentage lies between 25.1%
and 34.9%.
C) a. ± 4.9% b. There is a 95% probability that the true population percentage lies between
30.1% and 39.9%.
D) a. ± 20.445% b. There is a 95% probability that the true population percentage lies between
30.1% and 39.9%.
5
29)
Use the histograms shown to answer the question.
30)
30)
Is either histogram symmetric?
A) Neither is symmetric.
B) The first is symmetric, but the second is not symmetric.
C) Both are symmetric.
D) The second is symmetric, but the first is not symmetric.
Express the fraction as a percent.
5
31)
8
A) 80%
31)
B) 6.3%
C) 78.1%
D) 62.5%
Write the decimal as a percent.
32) 0.78
A) 0.078%
B) 780%
C) 78%
D) 7.8%
Express the percent as a decimal.
33) 2%
A) 20
B) 2
C) 0.02
D) 0.2
3
34) 1 %
5
A) 0.016
32)
33)
34)
B) 0.0172
C) 1.72
D) 1.6
C) 27
D) 3
36) What number is 16% of 39?
A) 0.624
B) 62.4
C) 6.24
D) 624
37) 23 is 2% of what number?
A) 46
B) 115
C) 11,500
D) 1150
38) 144 is what percent of 90?
A) 1.6%
B) 16%
C) 1600%
D) 160%
Solve the problem.
35) 75% of 36 is what number?
A) 270
B) 4.8
6
35)
36)
37)
38)
39) Jeans with an original price of $65 are on sale at 25% off. What is the sale price of the jeans? (Round
to the nearest cent, if necessary.)
A) $63.38
B) $48.75
C) $81.25
D) $16.25
39)
40) 6 is what percent of 25?
A) 2400%
40)
B) 24%
C) 0.24%
D) 2.4%
Use the table to calculate the income tax owed.
41) Single female, no dependents
Gross Income: $35,000
Adjustments: $3000
Deductions:
$2000 charitable contributions
$2500 student loan interest
Tax credit: None
A) $3205
B) $3570
41)
C) $3760
D) $4915
Solve the problem.
42) A dress regularly sells for $137. The sale price is $101. Find the percent decrease of the sale price
from the regular price.
A) 35.6%
B) 26.3%
C) 73.7%
D) 280.6%
7
42)
43) The price of an item is reduced by 40% of its original price. A week later it is reduced by 20% of the
reduced price. The cashier informs you that there has been a total reduction of 60%. Is the cashier
using percentages correctly? If not, what is the actual percent reduction from the original price?
A) The cashier is not using percentages correctly. The actual percent reduction from the original
price is 48%.
B) The cashier is not using percentages correctly. The actual percent reduction from the original
price is 30%.
C) The cashier is not using percentages correctly. The actual percent reduction from the original
price is 52%.
D) The cashier is using percentages correctly.
43)
The principal P is borrowed at simple interest rate r for a period of time t. Find the simple interest owed for the use of
the money. Assume 360 days in a year and round answer to the nearest cent.
44) P = $5700
44)
r = 4.5%
t = 20 months
A) $6127.50
B) $427.50
C) $466.36
D) $5130.00
The principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future value, A, or the total
amount due at time t. Round answer to the nearest cent.
45) P = $7500
45)
r = 8.5%
t = 16 months
A) $8427.27
B) $17,700.00
C) $8355.00
D) $8350.00
The principle represents an amount of money deposited in a savings account subject to compound interest at the rate
shown. Use the formula
r nt
A = P(1 + )
n
to find how much money will be in the account after the given number of years and how much interest was earned in
that period.
46) principal: $10,000
46)
rate: 4%
compounding periods per year: 2
time: 3 years
A) amount in account: $11,261.62; interest earned: $1261.62
B) amount in account: $12,653.19; interest earned: $2653.19
C) amount in account: $10,612.08; interest earned: $612.08
D) amount in account: $11,248.64; interest earned: $1248.64
Solve the problem using the present value formula P =
A
r nt
(1 + )
n
.
47) How much money should be deposited today in an account that earns 11% compounded quarterly
so that it will accumulate to $8600 in 12 years?
A) $2458.23
B) $31,624.69
C) $2338.68
D) $6261.32
8
47)
Solve using the formula for the effective annual yield, y = (1 +
r n
) - 1.
n
48) A passbook savings account has a rate of 5%. Find the effective annual yield if the interest is
compounded 10,000 times per year.
A) 5.08%
B) 5.43%
C) 5.13%
D) 4.38%
Use the formula A =
49)
P[(1 + r)t - 1]
or A =
r
r nt
-1
n
r
n
to find the value of the annuity.
Periodic Deposit
Rate
Time
$100 at the end of each year 4% compounded annually 7 years
A) $663.30
B) $3289.83
C) $316.33
A
Use the formula P =
50)
P 1+
r
n
r nt
1+
-1
n
48)
49)
D) $789.83
to determine the periodic deposit.
Periodic Deposit
Rate
Time Financial Goal
$? at the end of each year 8% compounded annually 12 years $10,000
A) $600.76
B) $813.03
C) $526.95
50)
D) $940.15
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
Answer the questions.
52-week
Yld
Vol
51) High Low Stock Sym Div % PE 100s
28.38
15 Icarus ICR 0.41 1.1 24 1053
Hi
24
Net
Lo Close Chg
23.5 24 ......
Use the stock table for Icarus to answer the following questions.
a. What were the high and low prices for the last 52 weeks?
b. If you owned 1000 shares of Icarus stock last year, what is the dollar amount of the
dividend you received?
c. What is the annual return for dividends alone?
d. How many shares of Icarus were traded yesterday?
e. What were the high and low prices for Icarus shares yesterday?
f. What was the price at which Icarus traded when the stock exchange closed yesterday?
g. What does ... in the net change column mean?
h. Compute Icarus's annual earnings per share using
Annual earnings per share =
Yesterday's closing price per share
.
PE ratio
9
51)
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Solve the problem. Round answers to the nearest dollar.
52) The cost of a boat is $29,000. Arthur finances this by paying $6000 down and $792.22 per month
for 36 months. Determine a. the amount financed; b. the total installment price; c. the finance
charge.
A) a. amount financed: $23,000; b. total installment price: $34,520; c. finance charge: $11,520
B) a. amount financed: $23,000; b. total installment price: $34,520; c. finance charge: $5520
C) a. amount financed: $23,000; b. total installment price: $33,830; c. finance charge: $4830
D) a. amount financed: $29,000; b. total installment price: $34,620; c. finance charge: $5620
Solve the problem.
53) You plan to pay for a sofa in 18 equal monthly payments. The finance charge per $100 financed is
$10.61. Use an APR table to find the APR for this loan.
A) 12.5%
B) 13.5%
C) 14.1%
D) 13%
52)
53)
54) The cash price for replacing all the water pipes and water fixtures in the house is $6400. This can be
financed by paying $1200 down and $176.23 per month for 36 months.
a. Determine the amount financed.
b. Determine the total installment price.
c. Determine the finance charge.
d. What is the APR for this loan.
A) a. $5200
B) a. $5200
C) a. $5200
D) a. $5200
b. $7544.28
b. $7544.28
b. $7600.28
b. $7544.28
c. $1144.28
c. $1144.28
c. $1121.28
c. $1144.28
d. 14%
d. 13.5%
d. 13.5%
d. 16%
54)
55) A particular credit card calculates interest using the unpaid balance method. The monthly interest
rate is 1.37% on the unpaid balance on the first day of the billing period less payments and credits.
Here are some of the details in the July 1 - July 31 itemized billing:
July 1 Unpaid Balance: $1412
Payment Received July 10: $300
Purchases Charged to the VISA Account: meals, $88; theater tickets, $49; computer accessories,
$380
Last Day of the Billing Period: July 31
Payment Due Date: August 9
a. Find the interest due on the payment due date.
b. Find the total balance owed on the last day of the billing period.
c. This credit card requires a $10 minimum monthly payment if the total balance owed on the last
day of the billing period is less than $360. Otherwise, the minimum monthly payment is 1/36 of the
balance owed on the last day of the billing period, rounded to the nearest whole dollar. What is the
minimum monthly payment due by August 9.
A) a. $15.23
B) a. $16.76
C) a. $15.23
D) a. $15.23
b. $1127.23
b. $1645.76
b. $1644.23
b. $1629
c. $31.00
c. $46
c. $46
c. $45
55)
10
Answer Key
Testname: UNTITLED2
1) D
2)
Hours
of TV
6
7
8
9
10
11
12
15
3)
4)
5)
6)
7)
8)
9)
10)
11)
12)
13)
14)
15)
16)
17)
18)
19)
20)
21)
Number of
HS Students
4
5
6
5
4
2
2
2
B
C
B
A
D
C
$31,000
B
A
A
B
A
D
C
A
C
D
A
11
Answer Key
Testname: UNTITLED2
22)
23)
24)
25)
26)
27)
28)
29)
30)
31)
32)
33)
34)
35)
36)
37)
38)
39)
40)
41)
42)
43)
44)
45)
46)
47)
48)
49)
50)
51)
52)
53)
54)
55)
D
D
B
D
A
B
13.57%
C
A
D
C
C
A
C
C
D
D
B
B
A
B
C
B
D
A
C
C
D
C
a. 52-week high: $28.38; 52-week low $15.00
b. $410
c. 1.1%
d. 105,300 shares
e. yesterday's high: $24.00; yesterday's low: $23.50
f. $24.00
g. This means there was no change in price for a share of stock from the market close two days ago to yesterday's
market close.
h. $1.00
B
D
B
C
12