1) What is the complete set of numbers for which f(x)= X^3 + 2X^2 - X is concave? A) X > or = to -2/3 B) X > or = to -3/2 C) X > or = to 3/2 D) X > or = to 1 E) None of these 2) Use the file nba to use for the next 5 questions. The file contains salaries (in millions of dollars) of all NBA players during a recent season. Which of the following choices best describes the salaries of NBA players? A) symmetric B) positively skewed C) negatively skewed 3) Use the file nba. Rounded to the nearest $100,000, the average NBA player's salary was A) $3.5 million B) $3.7 million C) $3.9 million D) $4.5 million E) None of the above 4) Use the file nba. Rounded to the nearest $100,000, the median NBA player's salary was A) $2.5 million B) $3.0 million C) $2.0million D) $4.0 million E) None of the above 5) Please use the nba file. Rounded to the nearest $100,000, the mode of the NBA players' salaries was A) $500,000 B) $700,000 C) $900,000 D) $1,500,000 E) None of the above 6) Please use the file nba. If you had to express a typical NBA player's salary with a single number (rounded to the nearest $100,000), you would use A) $2.0 million B) $2.5 million C) $3.0 million D) $3.5 million E) None of the above

Incorrect Questions: 19) What is the complete set of numbers for which f(x)=X^3 + 2X^2 - X is concave? A) X> or equal to -2/3 B) X> or equal to -3/2 C) X > or equal to 3/2 D) X> or equal to 1 E) None of the above 37)Last year, a barbershop generated $100,000 in profit. Assume that the shop's profits grow at 5% per year and that cash flows are discounted at 10% per year. If profits are received at the end of each year, what is the present value of all of the shop's future profits? PV of all future profits = D/(r-g) = 100,000 / (10%-5%) = $ 2,000,000 A)$1,500,000 B) $2,000,000 C) $2,500,000 D) $2,100,000 E)$3,000,000 3.) Suppose that the number of grapes sold by the Smalltown Co-op grocery store in a day is equally likely to be anywhere between 0 and 100 pounds (fractional values are possible). If you use a probability density function to describe the number of pounds of grapes sold daily by the store, the height of the function for any number of pounds between 0 and 100 is: A) 0.01 B) 0.02 C) 0.005 D) 0.10 E) None of the above 2) Suppose that next year the U.S. will be in one of the following economic conditions: Boom, Moderate Growth, Recession, or Depression. The probability that each economic condition will occur and that a jewelry store will earn profits within that broader economic condition are listed below: Economic Condition Probability Jewelry Store Profits Boom 0.40 $400,000 Moderate Growth 0.30 $300,000 Recession 0.20 $100,000 Depression 0.10 - $500,000 The standard deviation of the jewelry store's profits next year (rounded to the nearest dollar) is A)$102,442 B)$125,483 C)$149,873 D)$125,264 E)$263,818 Additional Questions: 48) Suppose that 1% of all people have a particular disease. A test for the disease is 99% accurate. This means that a person who has the disease has a 99% chance of testing positive for the disease, while a person who doesn't have the disease has a 99% chance of testing negative for the disease. If a person tests positive for the disease what is the chance (rounded to the nearest hundredth) that he or she actually has the disease? A) 0.99 B) 0.40 C) 0.50 D) 0.45 E) None of these 20) The inflection point for f(x) = X^3 - 3x^2 + x + 5 is Answer is NOT x= -1 A) x=0 B) x=1 C) x= -1 D) x=2 E) None of the above 45) If two dice are thrown, what is the probability that the first die shows a 4 or that the total on the two dice is 8? Answer is NOT 11/36 A) 11/36 B) 1/3 C) D) 5/18 E) None of the above 42) A 10-year bond paying 8% annual coupons pays $1000 at maturity. If the required rate of return on the bond is 7%, then today the bond will sell (rounded to the nearest cent) for A) $1000.00 B) $1210.45 C) $987.48 D) $1070.24 E) None of the above 40) Your bank pays 5% annual interest, compounded quarterly. Rounded to the nearest one hundredth of a percent, the annual effective interest rate is Answer is NOT 5.12% A) 5.09% B) 5.00% C) 5.06% D) 5.12% E) None of these 8) For X>0, which of these statements best describes the graph of y = x^0.25? Answer is NOT: slope is greater than zero and increasing A) The slope is greater than zero and is decreasing B) The slope is greater than zero and is increasing C) The slope is less than zero and is decreasing D) The slope is less than zero and is increasing E) None of the above Incorrect Questions: 19) What is the complete set of numbers for which f(x)=X^3 + 2X^2 - X is concave? A) X> or equal to -2/3 B) X> or equal to -3/2 C) X > or equal to 3/2 D) X> or equal to 1 E) None of the above 37)Last year, a barbershop generated $100,000 in profit. Assume that the shop's profits grow at 5% per year and that cash flows are discounted at 10% per year. If profits are received at the end of each year, what is the present value of all of the shop's future profits? PV of all future profits = D/(r-g) = 100,000 / (10%-5%) = $ 2,000,000 A)$1,500,000 B) $2,000,000 C) $2,500,000 D) $2,100,000 E)$3,000,000 3.) Suppose that the number of grapes sold by the Smalltown Co-op grocery store in a day is equally likely to be anywhere between 0 and 100 pounds (fractional values are possible). If you use a probability density function to describe the number of pounds of grapes sold daily by the store, the height of the function for any number of pounds between 0 and 100 is: A) 0.01 B) 0.02 C) 0.005 D) 0.10 E) None of the above 2) Suppose that next year the U.S. will be in one of the following economic conditions: Boom, Moderate Growth, Recession, or Depression. The probability that each economic condition will occur and that a jewelry store will earn profits within that broader economic condition are listed below: Economic Condition Probability Jewelry Store Profits Boom 0.40 $400,000 Moderate Growth 0.30 $300,000 Recession 0.20 $100,000 Depression 0.10 - $500,000 The standard deviation of the jewelry store's profits next year (rounded to the nearest dollar) is A)$102,442 B)$125,483 C)$149,873 D)$125,264 E)$263,818 Additional Questions: 48) Suppose that 1% of all people have a particular disease. A test for the disease is 99% accurate. This means that a person who has the disease has a 99% chance of testing positive for the disease, while a person who doesn't have the disease has a 99% chance of testing negative for the disease. If a person tests positive for the disease what is the chance (rounded to the nearest hundredth) that he or she actually has the disease? A) 0.99 B) 0.40 C) 0.50 D) 0.45 E) None of these 20) The inflection point for f(x) = X^3 - 3x^2 + x + 5 is Answer is NOT x= -1 A) x=0 B) x=1 C) x= -1 D) x=2 E) None of the above 45) If two dice are thrown, what is the probability that the first die shows a 4 or that the total on the two dice is 8? Answer is NOT 11/36 A) 11/36 B) 1/3 C) D) 5/18 E) None of the above 42) A 10-year bond paying 8% annual coupons pays $1000 at maturity. If the required rate of return on the bond is 7%, then today the bond will sell (rounded to the nearest cent) for A) $1000.00 B) $1210.45 C) $987.48 D) $1070.24 E) None of the above 40) Your bank pays 5% annual interest, compounded quarterly. Rounded to the nearest one hundredth of a percent, the annual effective interest rate is Answer is NOT 5.12% A) 5.09% B) 5.00% C) 5.06% D) 5.12% E) None of these 8) For X>0, which of these statements best describes the graph of y = x^0.25? Answer is NOT: slope is greater than zero and increasing A) The slope is greater than zero and is decreasing B) The slope is greater than zero and is increasing C) The slope is less than zero and is decreasing D) The slope is less than zero and is increasing E) None of the above