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Business Math 10th edition Cheryl Cleaves, Margie Hobbs, Jeffrey Noble - Solutions

Give the range and mode of grades for each semester.
Find the mean, variance, and standard deviation for the scores:82 + 60 + 78 + 81 + 65 + 72 + 72 + 78. Show that the sum of the deviations is zero.
Use the test scores of 32 students taking Business 205 to complete the frequency distribution and find the grouped mean rounded to the nearest whole number.
Use the frequency distribution for Exercise 23 to make a relative frequency distribution. Round to the nearest tenth percent.In exercise 32 23. Use the test scores of 32 students taking Business 205 to complete the frequency distribution and find the grouped mean rounded to the nearest whole number.
A group of 85 executives has an average annual salary of $80,000 and a standard deviation of $2,000. How many executives are expected to have an annual salary of $84,000 or more?
Find the range, mean, median, and mode of the weights of the metal castings after being milled. Write a statement about the data set based on your findings.
Use the data to find the statistical measures.a. What is the range? b. What is the mean?c. What is the median? d. What is the mode?
Construct a bar graph for the sales at Katz Florist.
Draw a line graph representing that data. Use an interval of 250. Be sure to include a title and explanation of the scales.
Find the mean, variation, and standard deviation for the set of average prices for NFL tickets using table 7-21.
A dusk-to-dawn outdoor light bulb has an expected (mean) life of 8,000 hours with a standard deviation of 250 hours. How many bulbs in a batch of 500 can be expected to last no longer than 7,500 hours?
Construct a circle graph for the cost of producing a piece of luggage.
Have the computers made a mistake? You have been attending Northeastern State College (which follows a percentage grading system) for two years. You have received good grades, but after four semesters you have not made the dean's list, which requires an overall average of 90% for all accumulated
Construct a bar graph showing total sales by salesperson for Happy's Gift Shoppe in Table 7-7.
The family budget is illustrated in Figure 7-16. What is the total take-home pay and what percent is allocated for transportation?
What percent of the take-home pay is allocated for food?
What percent of take-home pay is spent for education?
Construct a line graph showing total sales by the days of the week for Happy's Gift Shoppe in Table 7-7.
If the cost-of-living increase was 10% from 2007 to 2013, determine if Dale's salary for this period of time kept pace with inflation.
Draw a bar graph comparing the quarterly sales of the Oxford Company: January-March, $280,000; April-June, $310,000; July-September, $250,000; October-December, $400,000.
Weekly expenses of students taking a business mathematics class are shown in Table 7-14.a. Find the mean rounded to the nearest whole number. b. Find the median. c. Find the mode. d. Write a statement about the data set based on your findings.
Salaries for the research and development department of Richman Chemical are given as $48,397; $27,982; $42,591; $19,522; $32,400; and $37,582. a. Find the mean rounded to the nearest dollar. b. Find the median. c. Find the mode. d. Write a statement about the data set based on your findings.
Sales in thousands of dollars for men's suits at a Macy's department store for a 12-month period were $127; $215; $135; $842; $687; $512; $687; $742; $984; $752; $984; $1,992. a. Find the mean rounded to the nearest whole thousand. b. Find the median. c. Find the mode. d. Write a statement about
Accountants often use the median when studying salaries for various jobs. What is the median of the following salary list: $32,084; $21,983; $27,596; $43,702; $38,840; $25,997?
The following grades were earned by students on a midterm business math exam:Make a frequency distribution of the data using the intervals 60-69. 70-79, 80-89, and 90-99.
What percent of the students in Exercise 15 earned a grade that was below 80?
The 7th Inning wants to group a collection of autographed photos by price ranges. Make a relative frequency distribution of the prices using the intervals $0-$9.99, $10-$19.99, $20-$29.99, $30-$39.99, and $40-$49.99.
In Exercise 17, what percent to the nearest whole percent of the collection is priced below $20?
In Exercise 17, what percent of the collection is priced $40 or over?
Use the given hourly rates (rounded to the nearest whole dollar) for 35 support employees in a private college to complete the frequency distribution and find the grouped mean rounded to the nearest cent.
Find the median for the scores: 92, 68, 72, 83, 72, 95, 88, 76, 72, 89, 89, 96, 74, 72.
Find the median for the amounts: $17,485; $14,978; $13,592; $18,540; $14,978.
Find the mode for the scores: 92, 68, 72, 83, 72, 95, 88, 76, 72, 89, 89, 96, 74, 72.
Find the mode for the amounts: $17,485; $14,978; $13,592; $ 14,500; $ 18,540; $ 14,978.
Find the deviations from the mean?
Find the sum of squares of the deviations from the mean.
In a set of 36 months of data for medical leave that has a mean of 12 days per month and a standard deviation of 4.24, how many months are expected to have fewer than 16.24 days per month reported medical leave (one standard deviation above the mean)?
In a set of 100 ACT scores that are normally distributed and with a mean of 23 and standard deviation of 4.69, (a) How many scores are expected to be lower than 18.31 (one standard deviation below the mean)? (b) How many of the 100 scores are expected to be below 32.38 (two standard deviations
A trade discount series of 10/5/5 is offered on a printer, which is listed at $800. Also, a trade discount series of 5/10/5 is offered on a desk chair listed at $250. Find the total net price for the printer and the chair. Round to the nearest cent.
An invoice for $1,200 is dated on June 3, and terms of 3/10, n/30 are offered. A payment of $800 is made on June 12, and the remainder is paid on July 12. Find the amount remitted on July 12 and the total amount paid.
Find the trade discount or net price as indicated. Round to the nearest cent.
Find the decimal equivalents of complements, net decimal equivalent, and net price. Round to the nearest cent.
How much would have to be paid on an invoice for $328 with terms of 2/10 ROG if the merchandise invoice is dated January 3, the merchandise arrives January 8, and the invoice is paid (a) January 11; (b) January 25?
Gladys Quaweay received a bill for $300 dated April 7. The sales terms on the invoice were 2/10 EOM. If she paid the bill on May 2, how much did she pay?
A trade discount series of 10% and 20% is offered on 20 dartboards that are listed at $14 each. Also, a trade discount series of 20% and 10% is offered on 10 bowling balls that are listed at $40 each. Find the total net price for the dartboards and bowling balls.
The Gurney Corporation received an invoice for $5,893.21 for carbon-neutral printing supplies. The invoice had terms of 2/15, n/30. The firm decided to make a partial payment of $3,500 within the 15-day discount period. How much was credited to the Gurney Corp. account? Find the outstanding balance
One distributor lists a chair for $250 less 20%. Another distributor lists the same chair at $240 less 10%. Which distributor offers the better deal?
Why is it important to estimate the discount amount on an invoice?
The net price can be found by first finding the trade discount as discussed in Outcome 1 in Section 8.1, then subtracting to get the net price. When is it advantageous to use the complement of the discount rate for finding the net price directly?
To find the amount credited for a partial payment, we must find the complement of the discount rate and then divide the partial payment by this complement. Explain why we cannot multiply the payment by the discount rate and then add the product to the payment to find the amount to be credited to
If the single discount rate is 20%, the complement is 80%. What does the complement represent?
Describe a procedure for mentally finding a 1% discount on an invoice. Illustrate with an example.
Describe the calculations used to project a due date of 60 days from a date of purchase, assuming the 60 days are within the same year.
Expand the mental process for using a 1% discount on an invoice to find a 2% discount. Illustrate with an example.
Develop a process for estimating a cash discount on an invoice. Illustrate with an example.
Swift's Dairy Mart receives a shipment of refrigeration units totaling $2,386.50 including a shipping charge of $32. Swift's returns $350 worth of the units. Terms of the purchase are 2/10, n/30. If Swift's takes advantage of the discount, what is the net amount payable?
An important part of owning a business is the purchasing of equipment and supplies to run the office. Before paying an invoice, all items must be checked and amounts refigured before writing the check for payment. At this time the terms of the invoice can be applied.Using the information on the
Complete the following invoice No. 2501, finding the net price using the single trade discount rate.
Guadalupe Mesa manages an electronic equipment store and has ordered 100 LED TVs for a special sale. The list price for each TV is $815 with a trade discount series of 7/10/5. Find the net price of the order by using the net decimal equivalent.
We have seen that the trade discount series 20/10/5 is not equal to a single trade discount rate of 35%. Does the trade discount series 20/10/5 equal the trade discount series 5/10/20? Use an item with a list price of $1,000 and calculate the trade discount for both series to justify your answer.
One distributor lists a printer at $460 with a trade discount series of 15/12/5. Another distributor lists the same printer at $410 with a trade discount series of 10/10/5. Which is the better deal?
A Nintendo Wii Console has a list price of $289 and a trade discount series of 8/8. Find the net price and trade discount.
Tim Warren purchased computers for his computer store. Find the net price of the order of 36 computers if each on has a list price of $1,599 and a trade discount series of 5/5/10 is offered by the distributor.
Donna McAnally needs to calculate the net price of an order with a list price of $800 and a trade discount series of 12/10/6. Use the net decimal equivalent to find the net price.
Payten Pastner is responsible for Cummins Appliance Store's accounts payable department and has an invoice that shows a list price of $2,200 with a trade discount series of 25/15/10. Use the single discount equivalent to calculate the trade discount on the purchase.
Mary Harrington is calculating the trade discount on a dog kennel with a list price of $269 and a trade discount series of 10/10/10. What is the trade discount? What is the net price for the kennel?
Braxton Sebastian manages a computer software distributorship and offers a desktop publishing software package for $395 with a trade discount series of 5/5/8. What is the trade discount on this package?
One distributor lists Ogio Kingpin II® golf bags for $189.97 with a trade discount series of 5/5/10. Another distributor lists the same brand of golf bag at $210 with a trade discount series of 5/10/10. Which is the better deal if all other aspects of the deal, such as shipping, time of
Two distributors offer the same brand and model PC computer. One distributor lists the computer at $1,899 with a trade discount series of 8/8/5 and free shipping. The other distributor offers the computer at $2,000 with a trade discount series of 10/5/5 and $50 shipping cost added to the net price.
Dylan Murphy currently receives a trade discount series of 5/10/10 on merchandise purchased from a furniture company. He is negotiating with another furniture manufacturer to purchase similar furniture of the same quality. The first company lists a dining room table and six chairs for $1,899. The
Clordia Patterson-Nathanial handles all accounts payable for her company. She has a bill for $730 and plans to make a partial payment of $400 within the discount period. If the terms of the transaction were 3/10, n/30, find the amount credited to the account and find the outstanding balance.
David Wimberly has an invoice for a complete computer system for $3,982.48. The invoice shows terms of 3/10, 2/15, n/30. He can afford to pay $2,000 within 10 days of the date on the invoice and the remainder within the 30-day period. How much should be credited to the account for the $2,000
Lacy Dodd has been directed to pay all invoices in time to receive any discounts offered by vendors. However, she has an invoice with terms of 2/10, n/30 for $2,983 and the fund for accounts payable has a balance of $2,196.83. So she elects to pay $2,000 on the invoice within the 10-day discount
Explain the difference in the freight terms FOB shipping point and prepay and add.
A hole punch costs $40 and sells for $58.50. a. Find the markup. b. Find the rate of markup based on selling price.
Find the selling price and cost if an over-the-range microwave oven is marked up $182 with a 65% markup rate based on the selling price.
Find the selling price and markup for a pair of Orvis sensor gloves that costs the retailer $20.40 if the markup is 60% of the selling price.
A desk organizer sells for $35, which includes a markup rate of 60% based on the selling price, a. Find the markup based on b. Find the cost, selling price.
Nordstrom plans to mark up a Brahmin Croc Embossed Laptop Case $130.50 over cost, which is a 58% markup based on the cost. Find the cost, the selling price, and the rate of the selling price. Round to the nearest tenth percent.
A reclaimed T-shirt scarf sells for $32.00 and costs $20.00. Find the rate of markup based on cost and based on selling price. Round to the nearest tenth of a percent.
Find the rate of markup based on cost of a textbook that is marked up 20% based on the selling price.
A chest is marked up 63% based on cost. What is the rate of markup based on selling price?
Crystal stemware originally marked to sell for $49.50 was reduced 20% for a special promotion. The stemware was then reduced an additional 30% to turn inventory. What were the markdown and the sale price for each reduction?
Michelle Dockter has selected a Sonic® electric toothbrush that is on sale for 25% off. She also has a store coupon that reads "Take 15% off any already reduced price." How much will she pay for the toothbrush if it was originally priced at $79.99? What is the rate of reduction?
James McDonnell purchases 800 pounds of potatoes at a cost of $0.18 per pound. If he anticipates a spoilage rate of 20% of the potatoes and wishes to make a profit of 140% of the cost, for how much must he sell the potatoes per pound?
Old Towne Hardware pays $12.15 for light bulbs that have a 35,000-hour life. The bulbs sell for $29.99. What is the percent of markup based on cost? Round to the nearest tenth of a percent.
Beach Glass Bingo® Jewelry makes handcrafted bracelets and marks them up 175% based on cost. The cost of making one bracelet is $26. Find the selling price of the bracelets.
A computer table sells for $ 198.50 and costs $ 158.70. a. Find the markup. b. Find the rate of markup based on the cost.
A flower arrangement is marked up $12, which is 50% of the cost. a. Find the cost. b. Find the selling price.
Paradise Solar Lights marked up each box of four-color changing LED solar accent lights $8.25. The 60% markup of $8.25 was based on cost. Find the cost and selling price of each box of lights.
Jenny's Electronics sells a camera for $1,399. The markup rate is 72% of the cost. Find the cost and markup for the camera.
Find the selling price and markup for a case of Newman's Own® special blend coffee that costs the retailer $35.87 if the markup is 22% of the selling price.
A toaster sells for $28.70 and has a markup rate of 50% based on selling price, a. Find the markup. b. Find cost.
May Department Stores plans to mark up a Cuisinart Single Serve® brewing system $82.25 over cost, which is a 72% markup based on the cost. Find the cost, the selling price, and the rate of the selling price.
Costco sells a set of Velox® custom vehicle wheels for $529.00. They cost $278.00. Find the rate of markup based on cost and based on selling price. Round to the nearest tenth of a percent.
A dining room suite is marked up 45% based on cost. What is the rate of markup based on selling price? Round to the nearest tenth percent.
A desk has an 84% markup based on selling price. What is the rate of markup based on cost?
A down comforter was originally priced to sell at $280 and was reduced by 65%. Find the markdown and the sale price.
A three-speed fan originally sold for $29.98 and was reduced to sell for $25.40. Find the markdown and the rate of mark-down. Round to the nearest tenth percent.
Bolivia's Gifts paid a wholesale price of $625 for a set of imported hand-cut crystal and marked the crystal up 82% based on cost. On April 1, the crystal was marked down 30% for a special promotion. On April 15, the crystal was marked up 15% of its marked-down price. On September 12, the crystal

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