Interest and Inflation
If 5.0=3.2(1+x)2 models the increase in price of apples from two years ago to the present, this is the current price of apples.
What is $5?
An expense that occurs once every 6 months is called this type of expense.
What is semiannual or biannual?
A linear function has this type of rate of change.
What is constant?
This is the probability of rolling a total of 7 on two fair dice.
What is 6/36 or 1/6?
The mean of the dataset 5, 7, 8, 10 is this value.
What is 7.5?
A $6,000 investment earns 5% simple interest for 4 years. This is the total interest earned.
What is $1,200?
A worker earns $3,000 per month and spends $2,650. This is their monthly cash flow.
What is $350 positive cash flow?
If a population starts at 500 and grows by 8% each year, this is the explicit formula for the population after n years.
What is P(n) = 500(1.08)n?
Two events that cannot happen at the same time are called this.
What are disjoint events?
In a sample: 12, 15, 7, 18, 10, the range is this.
What is 18 − 7 = 11?
What is FV=2.9*(1+0.068)4=$3.77?
Gross income minus adjustments, exemptions, and deductions equals this amount.
What is taxable income?
A model predicts gas prices using G(t)=2.85(1.03)t. The percentage increase in price per year is this.
What is 3%?
A bag has 5 red, 3 blue, and 2 green marbles. The probability of drawing green is this.
What is 2/10=0.2?
A normal distribution has mean 72 and standard deviation 9. The z-score for a value of 90 is this.
What is z=(90−72)/9=2?
You make a deposit of $300 per month in an annuity that earns 6% APR compounded monthly. After 3 years, this is the future value of the annuity.
What is $11,800.83?
A taxpayer choosing between taking $6,300 in itemized deductions or using the $6900 standard deduction would make this choice.
What is the standard deduction?
A regression analysis yields r = 0.71, indicating this type of correlation.
What is a moderate, positive relationship?
A lottery is designed so players must choose choose 5 numbers from 0–9 followed by one letter. This is the total number of ways to choose a lottery combination.
What is 10 nPr 5 * 26 nPr 1 = 30240 * 26 = 786240?
A sample of 40 items has mean 26 and σ = 4.2. The 95% confidence interval for the population mean has this margin of error.
What is 1.96×(4.2/√40)≈1.30?
A $10,000 investment compounded quarterly at 7% for 12 years will grow to this amount. (Round to nearest dollar.)
What is approximately $23,050?
A person earns $57,500 and has $2,400 interest income. They claim 2 exemptions (of $4,050 each) plus $8,000 in itemized deductions. This is their taxable income.
What is 57,500 + 2,400 - 8,000 - 2×4,050 = $43,800?
A regression line has equation y=22.6+0.47x. If x = wrist size in inches and y = height in inches, the predicted height of someone with a 7-inch wrist is this.
What is 22.6+0.47(7)=25.9 inches?
A club has 4 seniors, 5 juniors, and 3 sophomores. If 4 officers are chosen so that each class is represented exactly once, the number of possible officer groups is this.
What is 4×5×3=60?
Your percentile score if you are 168cm tall (given a national average of 170.8, with a standard deviation of 15) is this.
What is the 57th percentile?