MATH 110 Final Exam Practice Problems

1. Compute the balance at the end of a year for a deposit of $1000 of a money market account earning an annual rate of 4.5 percent compounded bimonthly using the compound formula below:

2. Here are a set of exam scores from a class:

60, 70, 80, 90, 90, 94, 95, 97, 100

(a) Give a 5-number summary

(b) Make a boxplot.

(d) Compute the standard deviation for class A.

(e) Find the z-score for a student who scored 75 on the exam.

(f) How many points did a student score on the exam, who has a standardized score of 2.5.

3. Two fair, ordinary six-sided dice are tossed.

(a) Give the sample space of all possible outcomes.

(b) Find the probability that the difference of the two top numbers is 6.

4. The following table gives information about the percentage of people in a particular city that are in each age group: e Range 19 Yrs and

Younger

Age / 19 or younger / 20 to 39 / 40 to 59 / 60 to 79 / 80 or older
Percentage / 28 / 25 / 13 / 4

(a) Fill in the appropriate percent for “40 to 59 Yrs.”

(b) If a person is chosen at random, what is the probability that he or she is youngerthan 40 years of age?

5. A measure to authorize extension of nondiscriminatory treatment (normal traderelations

treatment) to the People’s Republic of China and to establish a framework for relations between the United States and the People’s Republic of China passed the Senate on September 19, 2000, with the following breakdown of votes (Source: The Library of Congress, www.congress.gov).

Democrat / Republican
Yes / 37 / 83
No / 7 / 15
Not Voting / 0 / 2

Suppose you pick a senator from the September 2000 senate at random.

Find the probability that the chosen senator is either a Democrat or voted Yea.

6. You live in an area prone to sinkholes, so you are considering purchasing sinkhole

insurance for $100 per year. You find that in your neighborhood the chance of minor

sinkhole damage (approximately $1,000 damage) is estimated to be 0.03. The chance

of moderate damage ($5,000 damage) is estimated to be 0.005, and the chance of

major damage ($20,000 damage) is estimated to be 0.001. If there is a 5% deductible for the insurance, find the expected yearly cost of sinkhole damage if do purchase sinkhole insurance.