Financial Algebra Advanced Algebra With Financial Applications 2nd Edition Robert Gerver, Richard J. Sgroi - Solutions

Janine is analyzing spending habits of students in her high school. She finds a mean monthly discretionary expense of $70 spent on having meals out with friends. The standard deviation of a distribution is 5. What is the variance?
Back-to-school shopping is a very big business. Some may consider these expenses essential while others look at them as discretionary costs. However you look at it, the data of the average dollars spent per family with school-age children is very interesting. Examine the chart below with
A recent Internet survey showed per-day lodging expenses at Disney World in Orlando range from less than $100 for a campsite to more than $2,000 for a top luxury room. The cost-per-day average of the top 10 most popular hotels at Disney World is $348.a. If the standard deviation is $80, find the
Discretionary music purchases are a big business. Albums can be downloaded, streamed, played from a CD, played on vinyl, and more. What types of albums are being purchased in the United States? Music albums can be classified as current or catalog albums. The difference between the two is that a
Seaquoia River Cruises offers a 7-day travel package. The prices vary based on the room class booked, as indicated in the following spreadsheet:Write the spreadsheet formulas for the indicated cells.a. C9b. D3c. D7d. E4e. F5
Four car rental prices were quoted for a 3-day rental. The frequencies are listed. Let x represent the frequency of the $240 price quote. Use the information shown in the chart to write algebraic expressions for the entries labeled a through d.
A distribution of newly manufactured amusement park bumper cars has mean 400 pounds and standard deviation 2 pounds. A distribution of customers on line for the bumper-car ride has mean 60 pounds and standard deviation 2 pounds. Which distribution is more spread out? Explain.
Over the past 4 years, Reggie noticed that as the price of a slice of pizza increased, her college tuition also increased. She found the correlation coefficient was r 50.49.a. Which of the following scatter plots most accurately displays Reggie’s data? Explain.b. Would the price of a slice of
International travel is usually more expensive than domestic travel. A recent survey found that the average per-person cost of a 12-day international vacation is $1,755. This includes transportation, food, lodging, and entertainment.a. If the data are normally distributed with standard deviation
Construct a scatter plot using the year number as the x-coordinate and catalog album sales as the y-coordinate. Use 0 ≤ x ≤ 8 as the x-axis interval and 100 ≤ y ≤ 220 as the y-axis interval.a. Use the scatterplot points to find the equation of the linear regression line for the catalog
Suppose that two of the Deluxe Luxury rooms in the spreadsheet above were being renovated and unavailable for sale on a particular trip. Therefore, cell C6 would change from 20 to 18.a. Would all, some, or none of the values in column D change based on the change in cell C6? Explain.b. Would all,
Jocelyn compiled data on the number of hours students work per week the summer after senior year. The minimum number of hours in the distribution was 23. The range was 17.a. What is the maximum number of hours in the distribution?b. If the maximum score in the distribution was M, and the range is
A Caribbean resort has a nightly limbo contest on the beach. Participants must be less than 64 inches tall. The distribution of heights of adult American men is approximately normal with mean 69 inches and standard deviation 2.5 inches.a. What percent of adult American males could enter this
Describe each of the following correlation coefficients using the terms strong, moderate, or weak and negative, or positive.a. r 50.21b. r 520.87c. r 50.55d. r 520.099e. r 50.99f. r 520.49
Use the round-trip airfare table in problem 5 above to determine the percentile rank of $1,133.
The table on the right, from the Statistical Abstract of the United States, shows amusement park attendance at the top 15 amusement parks for given years.a. Find the mean attendance, in thousands, for the 5 years shown, to the nearest integer.b. Find the standard deviation, in thousands, for the
An orchestra of 25 members bought tickets, at all different prices, to a concert, and the mean price paid was $82. A new musician joined the orchestra and spent $90 on his ticket to the same concert. What is the new mean price paid when the new musician is included? Round to the nearest cent.
Which of the following scatter plots shows a correct line of best fit?
Visitors to the Royal Ranch Golf Paradise shoot an average of 88 on their 18-hole golf course. The standard deviation is 12. Visitors to the Glen Oaks Golf Resort shoot an average of 97 with a standard deviation of 14. (In golf, the lower score is the better score.) Lisa was vacationing at Royal
Ralph wants to join a travel soccer team, a discretionary expense. His parents tell him he must get a job to earn the money to cover the costs. Ralph now views this discretionary expense as an essential expense since he must pay his parents back. The costs of the travel team are listed below.a.
The summer income of the 3,408 students at Van Buren High School last year was normally distributed with mean $1,751 and standard deviation $421.a. Approximately what percent of the students had incomes between $1,000 and $2,000? Round to the nearest percent.b. Approximately how many students had
Getaway Sports is a vacation destination for the serious sports fanatic. Rajesh is in charge of equipment for the complex. The last shipment of pingpong balls was normally distributed with a mean weight of 2.7 grams and a standard deviation of 0.1 gram. The 100-pound weights he orders from the
Shannon is traveling from New York City to Washington, D.C. She wants to go by train so she can see the views. Since she will be driving home with a family member, she only priced the cost of a one-way ticket on Amtrak for any time of day on February 15. Below is an ordered listing of all fares
Is it possible for a linear regression line to go through every point on a scatter plot? Is it possible for a linear regression line to not go through any point on a scatter plot? Explain.
A finance magazine did a survey and found that the average American family spends $1,600 on a summer vacation. If the distribution is normal with standard deviation $411, find the amount a family would have spent to be the 80th percentile.
Use these data from Example 2 about the number of boxes purchased and the price per contact lens to answer a through g below. (1, 6.00), (2, 5.90), (4, 5.40) (8, 5.20), (10, 4.80), (12, 4.10), (14, 3.80), (16, 3.10), (20, 2.50) (24, 1.70)a. Find the linear regression equation. Round the slope and
Boaters at Springs Creek Marina have the option to rent fishing rods. The table below shows the number of boat owners that rented fishing rods last Labor Day weekend. The marina wants to compile some summary statistics for the weekend.a. How many boat owners were there on that Labor Day weekend?b.
Sixteen men and sixteen women purchased magazine subscriptions. The distribution of prices had the same mean, minimum score, and maximum score. The red markings on each number line below show where their prices fell.a. What is the range of each group?b. Which group had the larger standard
For many travelers, the cost of getting to an airport needs to be factored into the travel expense. The table at the right lists the cost of six different ways to get from the center of a major city to the nearest airport. A researcher polled travelers to determine the number of people who paid
Sometimes outliers can have a significant effect on statistics, and sometimes they don’t. Use the following distribution to determine which statistics are affected by outliers. Round to the nearest hundredth.2, 4, 5, 7, 8 a. Find the median of the distribution.b. Find the mean of the
The table gives the number of songs purchased from My Tunes at different prices per song.a. Find the equation of the linear regression line. Round the slope and the y-intercept to the nearest hundredth.b. What is the slope of the linear regression line?c. What are the units of the slope when it is
Sometimes outliers can have a significant effect on statistics, and sometimes they don’t. Use the following distribution to determine which statistics are affected by outliers. Round to the nearest hundredth.2, 4, 5, 7, 8a. Find the median of the distribution.b. Find the mean of the
Examine the graph below. It shows the global iPhone phone sales by year in millions of units sold.a. Write nine ordered pairs with the first coordinate being the year number and the second being the units sold in millions as shown here. 1,400,000 units sold in 2007 would be represented by (1, 1.4)
The number of days each licensed driver in Marion County uses a commuter rail line annually is normally distributed with mean 66 and standard deviation 21.How many days must a driver use a commuter rail line annually to be in the top 5% of rail users? Round to the nearest integer.
The mean of a distribution of selected theme park admission prices is $59 with a standard deviation of $3.99. The mean cost of a distribution of a specific home stereo system sold at many different stores is $1,499 with a standard deviation of $4.a. Which distribution has the lower standard
A local comic book convention had an admission price of $17. During the week-long show, 19,344 people paid to enter.a. What is the range of the distribution of admission fees?b. What is the standard deviation of the distribution of admission fees?c. If the range of a distribution is 0, must its
Use the cruise ship room price table in problem 7 above to determine the percentile rank of $6,962.Data from problem 7:Seaquoia River Cruises offers a 7-day travel package. The prices vary based on the room class booked, as indicated in the following spreadsheet:Write the spreadsheet formulas for

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