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1) Bank A pays 3.6% compounded quarterly, while Bank B pays 3.59% compounded monthly. Which bank pays more? 2) According to the Canadian Journal of
1) Bank A pays 3.6% compounded quarterly, while Bank B pays 3.59% compounded monthly. Which bank pays more? 2) According to the Canadian Journal of Information and Library Science (Vol 33, 2009), the probability that workers in Canadian law libraries are satisfied with their job is 0.9. In a random sample of 12 law librarians in Canada, what is the probability that exactly 10 of them are satisfied with their job? Round answer to nearest ten-thousandth (4 places after decimal). 3) The feasible region shown below is bounded by lines - x + 3y = 3, x + y = 4, and y = 0. Find the coordinates of corner point A. 4) A network security specialist records the number of incoming e-mails containing links that six randomly-selected network users receive in a day. Numbers are 66, 81, 59, 74, 68, and 66. 1) State the mode (if one exists). 2) Find the median 3) Determine the sample mean. 4) Using the sample mean found in part (c), and given that the sample standard deviation of the data set above is 7.59, what percentage of the data set falls within one standard deviation of the mean? 5) In an Asian country, 10% of the families have three children, 25% have two children, 50% have one child, and 15% have no children. On average, how many children are there to a family? 6) Mary McMath surveyed 64 students in a finite math class on what they most recently did for fun. 31 went to the movies, 45 went to the big football game, and 21 went to the movies and the big football game. (a) What is the probability that a randomly selected student went to the movies but not the \"big game\"? (b) Let M = {students who went to movies} and G = {students who went to the \"big game\"}. Determine the number of attendees belonging to each of the regions I, II, III, IV. Region I: ________ Region II: __________ Region III: _________ Region IV: __________ 7) Which of the corner points for the system of linear inequalities graphed below minimizes the objective function C = 7x + 3y? 8) A farmer has a plot of land on which she plans to grow wheat and corn. Each acre of wheat requires 4 labor-hours and $20 of capital, and each acre of corn requires 16 labor-hours and $40 of capital. The farmer has at most 800 labor-hours and $2400 of capital available. If the profit from an acre of wheat is $80 and from an acre of corn is $100, how many acres of each crop should she plant to maximize her profit? Let x represent number of acres of wheat planted and y represent number of acres of corn planted. a. Identify the constraint on labor-hours: b. State the objective function. 9) The amount of money you should deposit quarterly in an account paying 8% compounded quarterly in order to have $100,000 after 20 years can be determined using formula for: A. Single-payment, compound interest B. Single-payment, simple annual interest C. Periodic payments: present value of an annuity / installment payment on loan D. Periodic payments: future value of an ordinary annuity 10) You are a restaurant manager. You must pick 12 entrees for your menu. There are 12 meat offerings and 7 poultry offerings to choose from. Order doesn't matter. a. In how many ways can 12 entrees be randomly selected out of the 19 meat and poultry offerings? b. In how many ways can 12 entrees be chosen, if 7 must be meat and 5 must be poultry? c. Using your answers to parts a and b, if 12 entrees are randomly selected from the 19 offerings, what is the probability that 7 are meat and 5 are poultry? 11) Solve the system of equations using substitution, 2x-5y=3 5x-6y=-12 12) Find the principal P required to achieve a future amount A = $8000 with an interest rate of 5.6% compounded quarterly for 5 years. 13) A phone company has a monthly cellular data plan where a customer pays a flat monthly fee of $10 and then a certain amount of money per megabyte (MB) of data used on the phone. If a customer uses 20 MB, the monthly cost will be $11.20. If the customer uses 130 MB, the monthly cost will be $17.80. a. Multiple choice: The linear regression model most closely fitting this data (where c represents monthly plan cost in dollars and d represents MB of data used) is: a. =0.06+10 6 b. c=0.06d+10 c. c=-16.67d=10 d. c=16/67d+10 b. Use the model to predict monthly plan cost if 200 MB are used (round answer to nearest cent if necessary) c. Fill in the blanks to interpret the slope of the equation: The rate of change of US high school dropout rate with respect to time is ____________________ per ______________
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