PRINTABLE VERSION Practice Test 3 Question 1 A problem is listed below. Identify its type. Jose received $350 for his birthday from his family. He wishes to buy a motorcycle and decides to use his birthday money towards it. He'd like to have a bigger down payment so he invests his money in a saving account that pays 4% per year compounded quarterly. If Jose purchases the motorcycle in 3 years, how much will he have available towards the down payment for his motorcycle? a) Simple Interest b) Future Value with compound interest c) Effective Rate d) Future Value with simple interest e) Present Value with compound interest f) None of the above. Question 2 How much should new parents invest now at 7% per year compounded quarterly to have $30,000.00 towards their child's college education in 17 years? a) $9,220.06 b) $9,221.06 c) $9,219.06 d) $9,222.06 e) $9,217.06 f) None of the above. Question 3 John got a part time weekend job at a local restaurant to save for a new car. He plans on depositing $200 per month for the next 2 years in a savings account with a rate of 3% per year compounded monthly. How much will he have saved toward his down payment at the end of the 2 year period? a) $4,920.56 b) $4,980.56 c) $4,910.56 d) $4,950.56 e) $4,940.56 f) None of the above. Question 4 A problem is listed below. Identify its type. John bought a new house. He made a $5,500 down payment and financed the rest, $260,000, through his credit union. The credit union charged him 12% per year compounded monthly for 21 years. How much were his monthly payments? a) Present Value of an Annuity b) Future Value with compound interest c) Sinking Fund d) Present Value e) Amortization f) None of the above. Question 5 Esther pays $467 per month for 6 years for a car. She made a down payment of $2,500. If the loan costs 7.1% per year compounded monthly, what was the cash price of the car? a) $27,314.63 b) $24,814.63 c) $44,269.53 d) $39,269.53 e) $29,814.63 f) None of the above. Question 6 Given the sets Determine the set (Ac B)c. a) b) c) d) e) f) None of the above. Question 7 Given the following Venn diagram Find n[ A ( B C ) ]. a) 50 b) 54 c) 53 d) 49 e) 55 f) None of the above. Question 8 Given the following Venn diagram Find n[ ( B C)c ]. a) 14 b) 117 c) 30 d) 42 e) 105 f) None of the above. Question 9 A survey of 398 children given at a local elementary school showed that 200 like chocolate ice cream 125 like pistachio ice cream, and 148 do not like chocolate or pistachio ice cream. How many children like at most one kind of ice cream mentioned in the survey? a) 273 b) 50 c) 125 d) 323 e) 325 f) None of the above. Question 10 A survey of 500 high school students was taken to determine their favorite chocolate candy. Of the 500 students surveyed, 150 like Snickers, 204 like Twix, 206 like Reese's Peanut Butter Cups, 75 like Snickers and Twix, 98 like Twix and Reese's Peanut Butter Cups, 100 like Snickers and Reese's Peanut Butter Cups, and 38 like all three kinds of chocolate candy. How many students like Reese's Peanut Butter Cups or Snickers, but not Twix? a) 75 b) 59 c) 218 d) 159 e) 121 f) None of the above. Question 11 A license plate consists of 4 letters followed by 3 digits. How many license plates are possible if the 1st digit cannot be 0, and letters and digits may repeat? a) 456,976,000 b) 284,765,625 c) 333,135,504 d) 411,278,400 e) 351,562,500 f) None of the above. Question 12 The company, HEWERRTT, would like to make letter codes using all of the letters in the word HEWERRTT. How many codes can be made from all the letters in this word? a) 40,320 b) 330 c) 5,040 d) 1,331,000 e) 110 f) None of the above. Question 13 How many ways can 3 students be assigned a seat in a classroom if there are 7 seats in a row? a) 210 b) 35 c) 5,040 d) 10 e) 21 f) None of the above. Question 14 A coin is tossed 16 times. In how many outcomes do exactly 6 tails occur? a) 8,008 b) 96 c) 5,765,760 d) 6 e) 720 f) None of the above. Question 15 A fast-food restaurant offers 7 different burgers, 5 different side orders, 8 different flavor drinks, and 8 different flavors of ice cream. In how many ways can a combo containing 3 burgers, 2 different sides, 3 different flavor drinks, and 2 ice cream flavors be made? a) 36 b) 2,240 c) 129 d) 85,800 e) 548,800 f) None of the above. Question 16 An urn contains 17 red marbles and 15 blue marbles. 12 marbles are chosen. In how many ways can 5 red marbles be chosen? a) 85 b) 6,188 c) 39,819,780 d) 792 e) 12,623 f) None of the above. Question 17 A fair coin is tossed 27 times. In how many outcomes do at most 25 heads occur? a) 351 b) 379 c) 134,217,700 d) 134,217,349 e) 28 f) None of the above. Question 18 Given P(A) = .37, P(B) = .43 and P(A Bc) = .17. Find P(A B). a) 0.26 b) 0.97 c) 0.18 d) 0.37 e) 0.20 f) None of the above. Question 19 Given P(A) = 37/100, P(B) = 31/50, and P(A a) 0.33 b) 0.39 c) 0.36 d) 0.35 e) 0.00 f) None of the above. Bc) = 39/100. Find P(A Bc). Question 20 A campus radio station surveyed 500 students to determine the types of music they like. The survey revealed that 192 like rock, 156 like country, and 118 like jazz. Moreover, 18 like rock and country, 20 like rock and jazz, 24 like country and jazz, and 6 like all three types of music. What is the probability that a radomly selected student likes jazz or country but not rock? Note: A Venn diagram may be useful here. a) 0.276 b) 0.436 c) 0.400 d) 0.512 e) 0.252 f) None of the above. Question 21 A hand of 10 cards is dealt from a well-shuffled standard 52-card deck of cards. What is the probability that the hand contains 3 Jacks? a) 0.048617 b) 0.018617 c) 0.038617 d) 0.068617 e) 0.028617 f) None of the above. Question 22 A classroom of children has 16 boys and 19 girls in which five students are chosen to do presentations. What is the probability that at least four boys are chosen? a) 0.401501 b) 0.013455 c) 0.119976 d) 0.294980 e) 0.106521 f) None of the above. Question 23 A fair coin is tossed 21 times. What is the probability that at most 18 heads occur? a) 0.00063419 b) 0.01074482 c) 0.99988937 d) 0.99925518 e) 0.00011063 f) None of the above. Question 24 An urn contains 17 white balls and 9 green balls. A sample of seven is selected at random. What is the probability that the sample contains at least one green ball? a) 0.169328 b) 0.830672 c) 0.970435 d) 0.000014 e) 0.999986 f) None of the above. Question 25 A classroom of children has 14 boys and 15 girls in which five students are chosen to do presentations. What is the probability that more boys than girls are chosen? a) 0.1264 b) 0.4651 c) 0.3387 d) 0.0169 e) 0.4483 f) None of the above