The My-Tunes song app sells music downloads. Over the past few years, the service has lowered its prices. The table shows the price per song and the number of songs downloaded per day at that price. Price per Song …………………………………………. Number of Downloads (in thousands) $0.89 ………………………………………………………………………………………………………... 1,212 $0.79 ………………………………………………………………………………………………………. 1,704 $0.69………………………………………………………………………………………………………. 1,760 $0.59………………………………………………………………………………………………………. 1,877 $0.49 ………………………………………………………………………………………………………. 1,944 $0.39………………………………………………………………………………………………………. 2,011 a. Examine the data without drawing a scatter plot. Describe any trends you see. b. Draw a scatter plot. Describe the correlation. c. Approximate the number of downloads at a price of $0.54 per song. Explain your reasoning.
> Examine this geometric sequence of depreciating car values: $20,000 $18,400 $16,928 $15,573.76 If the original price of the car was $20,000, what is the depreciation rate? What will the car be worth after 6 years?
> A car vehicle price history for a certain make and model contains the following list of yearly price values: $21,000 $18,900 $17,010 $15,309 $13,778.1 $12,400.29 The original price of the car was $21,000. It exponentially depreciated to $18,900 after 1
> When sold as a new car in the 1950s, the price of a specific classic car was $13,074. It depreciated in value over the next few years. Then, in 1977, something interesting began to happen, as seen in this table of values. Year ……………………………………………………………………
> The following circle graphs give the proportional breakdowns of two investors’ diversified portfolios. a. Which investor is more aggressive? Explain. b. Which is Jillian’s most aggressive investment? c. Which is Li
> Examine the revenue (black) and expense (blue) functions. Estimate the price at the maximum profit. Explain your reasoning. dollars 800,000 price 50
> Chantel’s car originally sold for $46,600. It depreciates exponentially at a rate of 10.3% per year. Chantel put $12,000 down and pays $800 per month to pay off the balance. After how many years will her car value equal the amount she paid to date for th
> A car originally sold for $25,900. It depreciates exponentially at a rate of 8.2% per year. Nina put $10,000 down and pays $550 per month. After how many years will her car value equal the amount she paid for the car to that point? What will that value b
> Use spreadsheets to compare these situations after 10 years. Total paid and total paid to the principal for a $300,000, 15-year mortgage with a 4.35% APR Total amount paid for a $2,600 monthly rent that has an annual increase of 2% after 10 years
> Use spreadsheets to compare these situations after 5 years. Total paid and total paid to the principal for a $250,000, 20-year mortgage with a 4.75% APR Total amount paid for a $2,100 monthly rent that has an annual increase of 1.5%
> Ahmad sold 125 shares of stock for x dollars that he had purchased for $32.75 per share. a. How much did he originally pay for the shares of stock? b. Write an inequality that represents an amount showing Ahmad made money from the sale of the stocks.
> You get paid on the first day of each month. You cash your check and pay all of your essential expenses. You keep the balance in your “discretionary spending” envelope. A scatter plot shows the number of days that have passed since you were paid and the
> If you own r shares of a stock with an annual dividend of p dollars, express the amount of your quarterly dividends algebraically.
> Name two prices where the revenue is less than the expenses. A dollars 100,000 price 200
> Name two prices where the revenue is greater than the expenses. /
> What are the breakeven prices? A dollars 100,000 price 200
> At what price is the maximum profit reached? A dollars 100,000 price 200
> An electronics store is selling car chargers for cell phones. The expense function is E = -300p + 13,000 and the revenue function is R = -32p2 + 1,200. a. At what price would the maximum revenue be reached? b. What would that maximum revenue be? Round
> List the following investments in order of their liquidity. The most liquid is the easiest to convert to cash, and the least liquid is the toughest to convert to cash. Explain your answer. Stock, bank account, real estate, collectibles
> The student government at State College is selling inexpensive bookcases for dorm rooms to raise money for school activities. The expense function is E = -200p + 10,000 and the revenue function is R = - 18p2 + 800. a. At what price would the maximum rev
> Where-R-U produces global positioning systems (GPS) that can be used in a car. The expense equation is E = -5,000 + $8,300,000, and the revenue equation is R = - 100p2 + 55,500. a. Graph the expense and revenue functions. Circle the breakeven points. b
> Sea Shade produces beach umbrellas. The expense function is E = -19,000q + 6,300,000 and the revenue function is R = -1,000p2 + 155,000p. a. Graph the expense and revenue functions. Label the maximum and minimum values for each axis. Circle the breakev
> iSports is considering producing a line of baseball caps with wireless cell phone earpieces attached. The breakeven point occurs when the price of a cap is $170 or $350. At $170, the expense and revenue values are both $2,600,000. At $350, the expense an
> 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
> A manufacturer determines that a product will reach the breakeven point if sold at either $80 or $150. At $80, the expense and revenue values are both $300,000. At $150, the expense and revenue values are both $100,000. On graph paper, graph possible rev
> A jewelry manufacturer has determined the expense equation for necklaces to be E = 1,250q + 800,000, where q is the quantity demanded. At a particular price, the breakeven revenue is $2,600,000. a. What is the quantity demanded at the breakeven point?
> A supplier of school kits has determined that the combined fixed and variable expenses to market and sell G kits is W. a. What expression models the price of a school kit at the breakeven point? b. Suppose a new marketing manager joined the company and
> A manufacturer has determined that the combined fixed and variable expenses for the production and sale of 500,000 items are $10,000,000. What is the price at the breakeven point for this item?
> How might the quote apply to what you have learned?
> How much more does $1,000 earn in 8 years, compounded daily at 3%, than $1,000 over 8 years at 3%, compounded semi-annually, to the nearest cent?
> The Terceira family is planning to send their 3-year-old daughter to college in 15 years. They plan on investing $5,000 each year to help meet her college costs. a. What are the advantages and disadvantages of putting the money in a bank? b. What are
> Rob deposits $1,000 in a savings account at New York State Bank that pays 1.4% interest, compounded monthly. a. How much is in his account at the end of 1 year, to the nearest cent? b. What is the APY for this account to the nearest hundredth of a perc
> Joanne deposits $4,300 into a 1-year CD at a rate of 2.3%, compounded daily. a. What is her ending balance after the year, to the nearest cent? b. How much interest does she earn, to the nearest cent? c. What is her annual percentage yield to the near
> Samantha deposits $1,500 into the Park Street Bank. The account pays 1.12% annual interest, compounded daily. To the nearest cent, how much is in the account at the end of three non–leap years?
> 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 p
> On Olga’s 16th birthday, her uncle invested $2,000 in an account that was locked into a 1.75% interest rate, compounded monthly. How much will Olga have in the account when she turns 18? Round to the nearest cent.
> Jimmy invests $4,000 in an account that pays 2% annual interest, compounded semi-annually. What is his balance, to the nearest cent, at the end of 10 years?
> Examine each scatter plot. Identify each as showing a positive correlation, a negative correlation, or no correlation. a. b. C. d. f.
> Interpret the quote in terms of what you have learned about essential and discretionary expenses.
> Island Bank is advertising a special 1.55% APR for long-term CDs. Manny takes out a 1-year CD for $40,000. The interest is compounded daily. Find the annual percentage yield for Manny’s account to the nearest hundredth of a percent.
> Rodney invests a sum of money, P, into an account that earns interest at a rate of r, compounded yearly. Gerald invests half that amount into an account that pays twice Rodney’s interest rate. Which of the accounts will have the higher ending balance aft
> The table gives the number of songs purchased from My-Tunes at different prices per song. Price per Song ………………………………………. Number of Downloads (in thousands) $0.89 ……………………………………………………………………………………………………. 1,212 $0.79…………………………………………………………………………………………………….
> In the 1950s and 1960s, baseball trading cards were sold in packages of five cards with a stick of gum for 5 cents. So each card cost approximately 1 cent. A 1953 Mickey Mantle card can sell for over $1,000 today in good condition. What would 1 cent have
> Lindsay invests $80 in an account that pays 1% annual interest, compounded monthly. Michele invests $60 in an account that pays 2% annual interest, compounded weekly. a. Whose balance is greater after 1 year? b. Whose balance is greater after 12 years?
> Which of the following scatter plots shows a correct line of best fit? a. b.
> 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. Year (x) ……………………………………………. Amusement Park Attendance at Top 15 Amusement Parks (in thousands) (y
> Describe each of the following correlation coefficients using the terms strong, moderate, or weak and negative, or positive. a. r = 0.21 b. r = -0.87 c. r = 0.55 d. r = -0.099 e. r = 0.99 f. r = -0.49
> 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 = 0.49. a. Which of the following scatter plots most accurately displays Reggieâ
> 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 intere
> At the end of 2015, the U.S. Bureau of Economic Analysis posted the following data on the U.S. disposable personal income by month for the first 11 months of that year as indicated in this table: Month …………………………. Disposable Personal Income (billions of
> It is important to check your credit card bill each month. In the next section, you will carefully examine a credit card statement and learn how to look for errors. Most people would notice a major, expensive purchase that they did not make. A smaller, i
> Kristin’s credit rating was lowered, and the credit card company raised her APR from 14% to 15.2%. If her average daily balance this month is x dollars, express algebraically the increase in this month’s finance charge due to the higher APR.
> Jill’s credit card was stolen. The thief charged a $900 kayak on the card before she reported it stolen. a. How much of the thief’s purchase is Jill responsible for? b. Jill’s average daily balance would have been $1,240 without the thief’s purchase. W
> Ronaldo is retiring from his government job. His annual pension will be $61,000, which he will receive every year until he dies. However, he has a choice to make. If he agrees to take a 10% reduction in his pension, his wife can continue to receive that
> Express the missing entries in the debit card register algebraically. NUMBER OR COD PAYMENT AMOUNT DEPOBIT AMOUNT $ BALMICE DATE TRANSACTION DESCRPTON FEE 12/3 Arloff's Gifts a. 12/6 Вопnics Boutique b. 12/7 Gas с. 12/11 Cable TV d. 12/12 Deposit e.
> 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 line
> The terms of Medina’s credit card state that the APR is 17.4%, and if a payment is not received by the due date, the APR will increase by w percent. The credit card company received Medina’s payment 3 days after the due date in February. Write the intere
> Ron did not pay his credit card bill in full last month. He wants to pay it in full this month. On this month’s bill, there is a mistake in the average daily balance. The credit card company lists the average daily balance on his bill as $510.50. Ron com
> 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
> If $3,000 is invested at an interest rate of 1.8%, compounded hourly for 2 years, what is the ending balance, to the nearest cent?
> Jared’s average daily balance for last month was $560. The finance charge was $8.12. a. What was the monthly percentage rate? b. What was the APR?
> Suzanne’s average daily balance for last month was x dollars. The finance charge was y dollars. a. What was the monthly percentage rate? b. What was the APR?
> Mike deposits $5,000 in a 3-year CD account that yields 1.5% interest, compounded weekly. What is his ending balance, to the nearest cent, at the end of 3 years?
> Vincent had these daily balances on his credit card for his last billing period. He did not pay the card in full the previous month, so he will have to pay a finance charge. The APR is 19.2%. 9 days @ $778.12 8 days @ $1,876.00 4 days @ $2,112.50 10
> Felix and Oscar applied for the same credit card from the same bank. The bank checked both of their FICO scores. Felix had an excellent credit rating, and Oscar had a poor credit rating. a. Felix was given a card with an APR of 14%. What was his monthly
> In 1974, Robin bought a classic 1955 Ford Thunderbird for $2,000. Over the next 30 years, she invested approximately $1,000 per year into restoring the car to its original condition. In 2004, she sold it for $54,000. a. Imagine she chose not to invest i
> 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.
> Dan’s credit card was lost on a vacation. He immediately reported it missing. The person who found it days later used it, and charged x dollars’ worth of merchandise on the card, where x > $200. How much of the x dollars is Dan responsible for paying?
> Janine’s credit card was stolen, and the thief charged a $44 meal before she reported it stolen. How much of this is Janine responsible for paying?
> How might the words in the quote apply to what you have learned about compound interest this section?
> Use the table in Example 2 to answer these questions. a. Add a relative frequency column. Calculate the relative frequencies. Round each to the nearest thousandth. b. Which price range(s) has a relative frequency greater than 0.18 and less than 0.27?
> Arrange the following lending institutions in descending order according to their APRs for a $10,000, 2-year loan. East Meadow Savings ………………………………………………………………………………. 4 1 2 % Clinton Park Credit Union ………………………………………………………………………… 4% Tivoli Trust ……………
> Interpret the quote in the context of what you learned about loans in this section and on your experiences or expectations.
> Use the round-trip airfare table in problem 5 above to determine the percentile rank of $1,133.
> 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. C9 b. D3 c. D7 d. E4 A B D E F Number Re
> 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&
> 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 t
> The following table shows the number of times Key Club students at Peconic High School went to Echo Beach last summer. Number of Echo Beach Trips ……………………………………………………… Frequency, f 5 …………………………………………………………………………………………………………………. 8 6 ………………………………………………………
> Jacques is planning to set up a $70,000 investment portfolio. He plans on investing 20% in stock, 20% in bonds, 20% in collectibles, and the remainder into a 10-year certificate of deposit. a. How much is invested in the CD? b. If the CD earns 6% inter
> The following spreadsheet can be used to compute monthly payments given the APR, principal, and term of the loan. a. Write the spreadsheet formula to compute cell D2. b. Write the spreadsheet formula to compute cell E2. c–h. Use you
> A loan used for buying a home is called a mortgage. The Fortunato family is borrowing $430,000 to buy a home. They are taking out a 30-year mortgage at a rate of 3.55%. a. Compute the monthly payment to the nearest cent. b. Find the total of all of the
> Lee wanted to compute the monthly payment on a 2-year, $8,400 loan at an APR of 3.07%. She entered the keystrokes at the right on her calculator. The display gives an answer of 48, which Lee knows is incorrect. Explain what her error was. 8400 (0.03
> Use the cruise ship room price table in problem 7 above to determine the percentile rank of $6,962.
> Olivia is considering membership to the Regional Teachers’ Credit Union so that she can save money on a loan. The credit union will lend her $8,000 for 3 years at 2.25% APR. The same loan at her savings bank has an APR of 2.9%. How much would Olivia save
> Reggie needs a quick x-dollar loan until his next payday in 2 weeks to take advantage of a sale on ski equipment. The bank would take too long on the paperwork, so he goes to a pawnshop. The pawnshop will only lend him 25% of the value of his collateral.
> Solomon is taking out a $15,320, 2-year loan with an APR of 3.29%. What will be the finance charge for this loan to the nearest dollar?
> Lavonda took out a $7,500 loan with an APR of 3.875% and agreed to pay it back monthly over 6 years. How many monthly payments did she make?
> Jordan is taking out a 2-week payday loan for $600. He will be charged $95 interest for the 2-week loan. What is the APR for this loan?
> Since vacation travel is a discretionary expense, consumers want to make the most out of the money they have budgeted. They often check travel websites for hotel ratings before making any reservations. A popular travel website offers travelers the opport
> The policy of the Broadway Pawnshop is to lend up to 35% of the value of a borrower’s collateral. John wants to use a $3,000 ring and a $1,200 necklace as collateral for a loan. What is the maximum amount that he could borrow from Broadway?
> Rob bought a 1965 Fender Jazz master vintage electric guitar in 1980 for a price of $150. In 2017 it was appraised for $4,500. You are going to compare this appraised value to what the $150 would have earned if it was deposited in a certificate of deposi
> Melissa wants to check the accuracy of the finance charge on her promissory note. She has a $6,000, 4-year loan at an APR of 3.11%. Round to the nearest cent. a. What is her monthly payment? b. What is the total of all her monthly payments? c. What is
> Darnelle has a $10,000, 3-year loan with an APR of 5%. She uses the table on page 159 to compute information on the loan. a. What is her monthly payment? b. What is the total of all her monthly payments? c. What is the finance charge?
> Explain how the quote can be interpreted in light of what you have learned in this section.
> How many monthly payments must be made for a 2½-year loan?
> How many more monthly payments are made for a 5-year loan than for a 2-year loan?
> The quartiles of a data set are Q1 = 50, Q2 = 72, Q3 = 110, and Q4 = 140. Find the interquartile range.
> Interpret the quote in the context of what you learned about statistics in this lesson.
> Rochelle turned age 62 in 2016. She earned an average of x dollars per month (adjusted for inflation) over her highest-paying 35 years, where x > 5,157. Express her Social Security full retirement benefit algebraically.
> The senior class is planning a graduation trip. The trip committee surveyed the 250 seniors asking the amount they were willing to spend on the entire trip. The survey results are shown in this table. Amount ……&ac
> Rachael turned age 62 in 2016. a. Compute her Social Security full retirement benefit if her average monthly salary over her 35 highest-paying years was $3,100. Round to the nearest cent. b. If she starts collecting her benefit at age 66, what will her
