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Statistics and Finance

Exercises 4.1 Problem 4: To study the spending habits of shoppers in Orlando, Florida, 50 randomly selected shoppers at a mall were surveyed to determine the number of credit cards they carried. The following results were obtained: 250 2!0"#5 # 0 #

525202502525 5"!0"#5# 2020 2!0

05225

a$ Organi%e the given data by creating a fre&uency distribution b$ 'onstruct a pie chart to represent the data c$ 'onstruct a histogram using single(valued classes of data Problem 20: The following lists the types of accidental deaths in the )nited *tates in 2000. 'onstruct a pie chart to represent the data. T+,- OF .''/0-1T 2otor vehicle Falls ,oison 0rowning Fire 'ho7ing Firearms 1)23-4 OF 0-.T5* #,000 !",200 !2,!00 #,600 #,"00 #, 00 "00

Exercises 4.3 Problem 8: ,a7i surveyed the price of unleaded gasoline 8self(serve$ at gas stations in 1ovato and 9afayette. The raw data, in dollars per gallon, are as follows: 1O:.TO: !.#06 !.2;6 !.##6 !.#06 !.256 !.2#6

9.F.+-TT-: !.#26 !.2"6 !.!;6 !.# 6 !.2;6 !.226 a$ Find the mean price in each city. <hich city has the lowest mean= b$ Find the standard deviation of prices in each city c$ <hich city has more consistently priced gasoline= <hy= Problem 16: .my surveyed the prices for a &uart of a certain brand of motor oil. The sample data, in dollars per &uart, is summari%ed below: ,rice ,er >uart 0.66 !.06 !.!6 !.26 !.#6 !. 6 a$ b$ c$ d$ 1umber of *tores 2 5 !0 !# 6 # Find the mean and the standard deviation of the prices <hat percent of the data lies within one standard deviation of the mean= <hat percent of the data lies within two standard deviations of the mean= <hat percent of the data lies within three standard deviations of the mean=

Problem 20: The age composition of the population of the )nited *tates in the year 2000 is given below. 4eplace the interval ?;5 and over@ with the interval ;5 A x A !00 and find the standard deviation of all people in the )nited *tates. .B0CDC5 5 A D A !0 !0 A D C !5 !5 A D C 25 25 A D C #5 #5 A D C 5 5 A D C 55 55 A D C "5 "5 A D C ;5 ;5 and over 1)23-4 OF ,-O,9- 8in thousands$ !6,!E" 20,550 20,52; #6,!; #6,;62 ,! 6 #E,"E; 2 ,2E5 #0,E52 ,2 0

Exercises 4.4 Problem 6: . population is normally distributed with mean !;.6 and a standard deviation !.;
a) Find the intervals representing one, two, and three standard deviations of the mean b) <hat percentage of the data lies in each of the intervals in part a= c) 0raw the bell curve

Exercises 5.1 Problem 38: *am 1eedham bought a house from *heri *ilva for F2#;,#00. /n lieu of a 20G down payment, 2s. *ilva accepted a !0G down payment at the time of the sale and a promissory note from 2r. 1eedham for an additional !0G, due in four years. 2r. 1eedham also agreed to ma7e monthly interest payments to 2s. *ilva at 6G interest until the note eDpires. 2r. 1eedham obtained a loan from his ban7 for the remaining ;0G of the purchase price. The ban7 in turn paid 2s. *ilva the remaining ;0G of the purchase price, less a sales commission 8"G of the purchase price$ paid to the sellersH and the buyersH real estate agents. a$ b$ c$ d$ e$ Find 2r. 1eedhamHs down payment Find the amount that 2r. 1eedham borrowed from his ban7 Find the amount that 2r. 1eedham borrowed from 2s. *ilva Find 2r. 1eedhamHs monthly interest payment to 2s. *ilva Find 2s. *ilvaHs total income from all aspects of the down payment 8including the down payment, the amount borrowed under the promissory note, and the monthly payments re&uired by the promissory note$. f$ Find 2s. *ilvaHs income from 2r. 1eedhamHs ban7. g$ Find 2s. *ilvaHs total income from all aspects of the sale. Exercises 5.2 Problem 6: Find the periodic rate that corresponds to the given compound rate below if the rate is compounded a$ &uarterly, b$ monthly, c$ daily, d$ bi(wee7ly 8every two wee7s$, and e$ semi( monthly 8twice a month$. 0o not round off the periodic rate. 'ompound 4ate: !0.!G

Exercises 5.3 Problem 36: 'hrissy Fields buys some land in Oregon. *he agrees to pay the seller a lump sum of F!20,000 in siD years. )ntil then, she will ma7e monthly simple interest payments to the seller at !2G interest.

a$ Find the amount of each interest payment b$ 'hrissy sets up a sin7ing fund to save the F!20,000. Find the si%e of her semiannual payments if her money earns !0 I G interest. c$ ,repare a table showing the amount in the sin7ing fund after each deposite. Exercises 5.4 Problem 10: *hirley Trembley bought a house for F!;E,"00. *he put 20G down and obtained a simple interest amorti%ed loan for the balance at " #J;G for #0 years. a$ b$ c$ d$ Find her monthly payment Find the total interest ,repare an amorti%ation schedule for the first two months of the loan 2ost lenders will approve a home loan only if the total of all the borrowerHs monthly payments, including the home loan payment, is no more than #;G of the borrowerHs monthly income. 5ow much must 2s. Trembley ma7e to &ualify for the loan=