Probability & Statistics

Problem: Two people play a game. A single dice is thrown. If the outcome is a 2 or a 3, then player A pays player B $6.00. How much should B pay A when a 1, 4, 5, or 6 is thrown so that A and B break even, on average, over many repititions of the game? a. $2.00 b. $8.00 c. $4.00 d. $6.00 e. None of the above

Probability & Statistics

Problem: Suppose that a probability distribution has a mean 20 and standard deviation 3. The Chebychev inequality states that the probability that an outcome lies between 16 and 24 is: a. less than 7/16 b. at least 7/16 c. at most 1/4 d. at least 1/4 e. none of the above

Probability & Statistics

Problem: The IQ of adults in a certain large population is normally distributed with mean 100 and standard deviation10. If a person is chosen at random form this group. the probability that the person's IQ is less than 85 or greater than 110 is: a. 0.7745. b. 0.9081. c. 0.2255. d. 0.0919. e. none of the above

Probability & Statistics

Problem: $4000 deposited at 12% interest compounded monthly will grow to $43570.22 in 20 years. What is the i, n, P, and F for this situation? a. 12%; 20; $4000; 43570.22 b. 0.01; 20; $4000; $43570.22 c. 0.15; 240; $43570.22; $4000 d. 0.01; 240; $4000; $43,570.22 e. none of the above

Probability & Statistics

Problem: Bill needs $8000 to buy a new car in five years. How much should be deposited at the end of every quarter into an account that earns 8% interest compounded quarterly? a. $329.25 b. $345.97 c. $666.33 d. $ 489.25 e. None of the above

Probability, Statistics & Finance

Problem: You buy a car with a down payment of $300 and payments of $200 per month for 3 years. If the interest rate is 12% compounded monthly what is the totla cost of the car? a. $5532.14 b. $6574.20 c. $6321.50 d. $8615.38 e. None of the above

Probability, Statistics & Finance

Problem: On Dec 31, a house is purchased with the buyer taking out a 30-year $90,000 mortgage at 9% interest compounded monthly. The mortgage payments are made at the end of each month. Calculate the amount of the monthly payment. a. $724.16 b. $1356.37 c. $1365.69 d. $1355.91 e. None of the above

Probability, Statistics & Finance

Problem: The APR for a 30 year, $250,000 mortgage at 6% interest compounded monthly and two discount points is: A. 6.25% b. 6.19% c. 6.12% d. 5.87% e. None of the above

Probability, Statistics

Problem: A five-number summary for a box plot includes which of the following? a. Q1, Q2, Q3, Q4, total b. Min, median, max, average, frequency total c. Q1, Q2, Q3, Q4, average d. min, Q1, Q2, Q3, max e. None of the above

Probability and Statistics

Question: Quartiles are measures used in constructing what? a. box plots b. historgrams c. frequency tables d. pie charts e. None of the above