1.2 Travel Expenses

Multiple Select

Bellwork:

What percent of $40 is $8.20?

• 20.5%

• 20.5

• $20.5

• 20.50%

Financial AlgebraSecond Edition

Slide 2

1-2:Travel Expenses: Learning Goals

The students will be able to:

• Determine and interpret cumulative frequency.

• Determine and interpret relative frequency.

• Determine and interpret relative cumulative frequency.

• Determine and interpret percentiles.

Financial Algebra: Second Edition

Slide 5

Example 1

How many of the trips listed in the Summer Travel table (frequency distribution table) were less than 1000 miles?

Financial Algebra: Second Edition

Slide 6

Example 1- answer

Multiple Choice

How many trips less than 500 miles in length were taken?

• 584,730,000

• 72,270,000

• 512,460,000

• 32,850,000

Financial Algebra: Second Edition

Slide 8

Example 2:

The Flyt Travel website reported the following airfare booking expenses for the week of July 4th.
What proportion of the tickets sold had a cost greater than or
equal to $400 and less than or equal to $499.99?

Financial Algebra: Second Edition

Slide 9

Example 2: Solution

1

Multiple Choice

What percent of the total number of bookings fall within the range of

$700 - $899.99?

• 15.1%

• 15%

• 9.5%

• .151%

Financial Algebra: Second Edition

Slide 8

Example 4: Extend the relative frequency table to determine the percent of the Flyt Travel bookings that are below $600.

Financial Algebra :Second Edition

Slide 9

Example 4 - answer

Multiple Choice

What does 0.545 in the relative cumulative frequency column represent?

• 54.5% of the fares were at or below $499.99

• 54.5% of the fares were at $499.99

• 54.5% of the fares were below $499.99

• 0.545% of the fares were at or below $499.99

Multiple Choice

Rounded to the nearest whole number, what percent of bookings fell between $700 and $999.99?

• 22%

• .220%

• .22%

• 2.2%

Financial Algebra: Second Edition

Slide 12

Most cities have some form of taxicab services for short-distance trips. Usually the cab fares are either a flat fee for a specified distance or a metered fee. The metered cabs often start with an initial fee and then charge a fixed rate per fraction of a mile driven. In many cities, wait time and number of stops often affect the fare as well. The website taxifarefinder.com offers a ranking of cities by the cost of a hypothetical taxi trip of a given duration and distance. Of the top 80 most expensive cities, these are the initial cab fees in ranked order:

What is the percentile rank of a $3.00 initial cab fee?

Financial Algebra: Second Edition

Slide 13

Example 5 - answer

What is the percentile rank of a $3.00 initial cab fee?

Multiple Choice

Determine the percentile rank of an initial fee of $2.85.

• 30%

• .3%

• .30%

• 3%

Financial Algebra: Second Edition

Slide 15

Classwork: Due today

Textbook site:

Left side panel-

Applications 1.2a & b