2070_statistics and finance (1).rtf

8/14/2019 2070_Statistics and Finance (1).rtf

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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 amall were surveyed to determine the number of credit cards they carried. The following resultswere obtained:

2 5 0 2 ! 0 " # 5 # 0

5 2 5 2 0 2 5 0 2 5 2 5 #

5 " ! 0 " # 5 # 0 5 2 2 5

2 0 2 0 2 ! 0

a$ Organi%e the given data by creating a fre&uency distribution b$ 'onstruct a pie chart to represent the datac$ '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 ''/ -1T 1) 3-4 OF - T *

otor vehicle #,000

Falls !",200

oison !2,!00

rowning #,600

Fire #,"00'ho7ing #, 00

Firearms "00


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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.


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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 standarddeviation of all people in the )nited *tates.

B- 1) 3-4 OF -O 9- 8in thousands$

0 C D C 5 !6,!E"

5 A D A !0 20,550

!0 A D C !5 20,52;

!5 A D C 25 #6,!;

25 A D C #5 #6,;62

#5 A D C 5 ,! 6

5 A D C 55 #E,"E;

55 A D C "5 2 ,2E5

"5 A D C ;5 #0,E52

;5 and over ,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)


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Exercises 5.1

Problem 38:

*am 1eedham bought a house from *heri *ilva for 2#;,#00. /n lieu of a 20G down payment,s. *ilva accepted a !0G down payment at the time of the sale and a promissory note from r.

1eedham for an additional !0G, due in four years. r. 1eedham also agreed to ma7e monthlyinterest payments to s. *ilva at 6G interest until the note eDpires. r. 1eedham obtained a loanfrom his ban7 for the remaining ;0G of the purchase price. The ban7 in turn paid s. *ilva theremaining ;0G of the purchase price, less a sales commission 8"G of the purchase price$ paid tothe sellersH and the buyersH real estate agents.

a$ Find r. 1eedhamHs down payment b$ Find the amount that r. 1eedham borrowed from his ban7

c$ Find the amount that r. 1eedham borrowed from s. *ilvad$ Find r. 1eedhamHs monthly interest payment to s. *ilvae$ Find s. *ilvaHs total income from all aspects of the down payment 8including the down

payment, the amount borrowed under the promissory note, and the monthly paymentsre&uired by the promissory note$.

f$ Find s. *ilvaHs income from r. 1eedhamHs ban7.g$ Find s. *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 iscompounded a$ &uarterly, b$ monthly, c$ daily, d$ bi(wee7ly 8every two wee7s$, and e$ semi(monthly 8twice a month$.

o not round off the periodic rate.

'ompound 4ate: !0.!G


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Exercises 5.3

Problem 36:

'hrissy Fields buys some land in Oregon. *he agrees to pay the seller a lump sum of !20,000 insiD years. )ntil then, she will ma7e monthly simple interest payments to the seller at !2Ginterest.

a$ Find the amount of each interest payment b$ 'hrissy sets up a sin7ing fund to save the !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 !;E,"00. *he put 20G down and obtained a simple interestamorti%ed loan for the balance at " #J;G for #0 years.

a$ Find her monthly payment b$ Find the total interestc$ repare an amorti%ation schedule for the first two months of the loan

d$ ost 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 borrowerHsmonthly income. ow much must s. Trembley ma7e to &ualify for the loan=

2070_statistics and finance (1).rtf

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