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Math Models B SE Review

Total questions: 85

Worksheet time: 3hrs 50mins

Name
Class
Date
1.

How would you describe this distribution?

a)

Left skewed

b)

Uniform

c)

Right Skewed

d)

Symmetrical

2.

a)

63

b)

56

c)

53

d)

43

3.

Describe the histogram:

a)

Left Skewed

b)

Normal/Symmetrical

c)

Right Skewed

d)

Uniform/Flat

4.

Which statement is true about the center of distribution?

a)

The center is best described using the mean, because the distribution is skewed.

b)

The center is best described using the median, because the distribution is skewed.

c)

The center is best described by the mean and median, because the distribution is symmetric.

d)

The center is best described by the outlier, because the distribution is symmetric.

5.

Which interval has 400 employees?

a)

33-43

b)

0-10

c)

77-87

d)

66-76

6.
Roger bowled 7 games last weekend. His scores are: 155, 165, 138, 172, 127, 193, 142. What is the range of Roger's scores?
a)
193
b)
127
c)
60
d)
66
7.
What is the minimum value?
a)
64
b)
58
c)
66
d)
60
8.

How do you calculate the IQR (interquartile range) ?

a)

Q2 - Q1

b)

Q1 - Q3

c)

Q3 - Q2

d)

Q3 - Q1

9.
Find the interquartile range using the following.
Minimum:  1
Q1:  3
Median:  5
Q3:  7
Maximum:  9
a)
8
b)
4
c)
5
d)
10
10.
What percentage of the data is between 90 and 140?
a)
25 %
b)
50%
c)
75%
d)
100%
11.
Which box and whisker plot has the highest median?
a)
Top plot
b)
Bottom plot
12.

Match the scatter plot to the equation that could represent the equation of its trend line.

a)

y = 3x

b)

y=4x-2

c)

y = -x + 5

d)

y = -5x

e)

The relationship is not linear

13.

Write the equation of the trend line in slope-intercept form.

a)

y=−12x+6y=-\frac{1}{2}x+6

b)

y=12x−6y=\frac{1}{2}x-6

c)

y=6x+12y=6x+\frac{1}{2}

d)

y=−6x+12y=-6x+\frac{1}{2}

14.
What shape is a normal distribution curve?
a)
Half curve
b)
Round curve
c)
Bell curve
d)
Square curve
15.

Which is NOT true about the normal distribution curve?

a)

It is bell-shaped.

b)

The mean, median, and mode are approximately equal

c)

The smaller the standard deviation, the less spread in the curve.

d)

It is asymmetrical.

16.
According to the empirical rule, what percentage of data falls within 1 standard deviation? 
a)
25%
b)
68%
c)
95%
d)
99.7%
17.
According to the empirical rule, how much of the data falls within 3 standard deviations? 
a)
25%
b)
68%
c)
95%
d)
99.7%
18.
1.  Which best describes the shaded part of this normal distribution graph?  
a)
All data that is one or higher.
b)
All data that is one or more standard deviations above the mean.
c)
All data that is between 1 and 3.
d)
All data that is above the mean.
19.
What is the Normal Range (68%) of the annual precipitation for Phoenix, if the average is 29 with a standard deviation of 3?
a)
26-32
b)
3-29
c)
26-29
d)
39-32
20.

Use the following information and the Empirical Rule to estimate the answer.


The ages of golfers are normally distributed, with a mean of 38 and a standard deviation of 4.


Find the percentage of golfers that are between 30 and 46 years old.

a)

68%

b)

94%

c)

95%

d)

99.7%

21.
Residuals are . . . 
a)
possible models not explored by the researcher
b)
variation in the response variable that is explained by the model
c)
the difference between the observed response and the values predicted by the model
d)
data collected from individuals that is not consistent with the rest of the group
22.
Predicting the band grade after 3.5 hours of practice is an example of:
a)
Interpolation
b)
Extrapolation
c)
An outlier
23.
How do you calculate a residual?
a)
Observed - Predicted
b)
Predicted - Observed
24.
What type of correlation exists between the number of people that go to the pool and the temperature outside.
a)
positive
b)
negative
c)
no correlation
d)
unknown
25.

What is the value of the correlation coefficient?

a)

0.891

b)

-0.891

c)

0.875

d)

0.943

e)

-0.943

26.

Which example shows CORRELATION? (The events show correlation, but one thing does NOT cause the other thing to happen.)

a)

I put water in the freezer and now I have ice.

b)

The alarm clock went off and I woke up.

c)

Temperature and the amount of people at the beach.

27.

Which example shows CAUSATION? (Which one CAUSED the other to happen.)

a)

Being happy and being a better student.

b)

An insect ate poison and it died.

28.

Data is analyzed comparing hours studied and grades. It is determined that the correlation coefficient is 0.92. What does this mean?

a)

There is a strong positive correlation between studying and grades.

b)

There is a strong negative correlation between studying and grades.

c)

There is a weak positive correlation between studying and grades.

d)

There is a weak negative correlation between studying and grades.

29.

Decide whether you'd solve using a Permutation, Combination, or simply need a single factorial, then match the cards accordingly.

a)

Permutation

1.

A lock has a code of 3 numbers between 1 and 15. How many codes can be created if no numbers repeat

b)

Combination

2.

The principal would like to assemble a committee of 8 students from the 12-member student council.

c)

Factorial

3.

Ribbons are being awarded for 1st through 5th place to the top 5 dogs in a dog show.

30.

How would you solve?

From the 20 DVD's you purchased this past year, you plan to take five with you on vacation. How many different sets of five DVD's can you take?

a)

Permutation

b)

Counting Principles

c)

Factorial

d)

Combination

31.

How many ways can you arrange 7 books on a shelf?

a)

7

b)

49

c)

343

d)

5,040

32.

There are 18 people running in a cross country race. How many possible ways are there to place the runners in first, second, and third?

a)

324

b)

4,896

c)

816

d)

54

33.

A fair quarter is flipped three times. What is the probability of getting two or more heads?

a)

37.5%

b)

12.5%

c)

50%

d)

66.7%

34.
If you draw one card from a standard deck, what is the probability of drawing a 5 or a diamond?
a)
2/52
b)
4/52
c)
16/52
d)
26/52
35.
There are 7 students in a class: 5 boys and 2 girls.
If the teacher picks a group of 4 at random, what is the probability that everyone in the group is a boy?
a)
5/7
b)
1/7
c)
2/7
d)
1
36.

There are 10 students in a class: 5 boys and 5 girls.

If the teacher picks a group of 3 at random:

a) How many groups of 3 girls are possible?​ (a)  

b) How many total groups of 3 are possible?​ (b)  

c) what is the probability that everyone in the group is a girl?

(c)   ​

Choose from the below words
10
120
8%
60
720
50%
37.

Calculate:

12P4

a)

24

b)

132

c)

1320

d)

11880

38.

Which of the following is equivalent to

8!

a)

8

b)

64

c)

8*7*6*5*4*3*2*1

d)

40320

e)

8P1

39.
Why do we randomly select our samples?
a)
for control
b)
reduce bias
c)
so we don't get the same answers from everyone
d)
to eliminate confounding results
40.
A sample is taken of 200 people. The number of people who own a dog was 80.
What is the sample proportion?
a)
80
b)
0.8
c)
0.4
d)
35%
41.
A sample is taken of 200 people. The number of people who own a dog was 80.
What is the population proportion?
a)
80
b)
0.8
c)
0.4
d)
Unknown
42.
30% of all dogs in a city are micro-chipped. In a sample of 50 dogs, what is the probability that less than 12 dogs are micro-chipped? 
a)
0.237
b)
0.189
c)
0.177
d)
0.126
43.
An amateur gardener decides to change varieties of tomatoes for this year to see if the yield is improved. He puts 6 of the old type of tomato plants and 6 of the new tomato plants in his garden. The average yield for the old plants was 11.3 pounds and the average for the new plants was 14.5 pounds. This is an example of
a)
an experiment
b)
an observational study
44.
210 college students were randomly assigned to play either a violent or nonviolent video game.  A short time later, the students were presented with the opportunity to trivially harm another person and results comparing the two groups were recorded.
Is this study OBSERVATIONAL or EXPERIMENTAL? 
a)
Observational
b)
Experimental
45.
A study is conducted to investigate the relationship between owning pets and happiness. 100 subjects are randomly selected and data on whether or not a pet is owned and a happiness score (1‐10, 10 being extremely happy) are obtained.
Is this an OBSERVATIONAL or EXPERIMENTAL study?
a)
Observational
b)
Experimental
46.
Earnings paid to an employee based on an hourly rate. 
a)
Commission
b)
Wages
c)
Salary
d)
Deductions
47.

An employee's fixed yearly income.

a)

Salary

b)

Deductions

c)

Wages

d)

Commission

48.
Amounts of money taken from income before you are paid.
a)
Commission
b)
Retainer
c)
Deductions
d)
Rate
49.

Total pay for earnings made over a one-year period before any deductions have been taken?

a)

Gross Annual Income

b)

Net Annual Income

c)

Gross Monthly Income

d)

Net Monthly Income

50.

A social insurance program that extends health coverage to almost all Americans age 65 and over

a)

Income

b)

Fixed Costs

c)

Social Security

d)

Medicare

51.

Alexis worked 24 hours last week. At a rate of $12 per hour, what was Alexis' gross pay?

a)

$36

b)

$144

c)

$288

d)

$312

52.
Federal Withholding Tax:  $345.25
SS Tax:  $256.25
Medicare Tax:  $132.25

What is your total deduction? 
a)
$733.75
b)
$628.50
c)
$776.00
d)
$692.75
53.
The power of compound interest works BEST the longer an investment is allowed to grow
a)
True
b)
False
54.
A speeding ticket is an item that you would use money from an emergency fund for
a)
True
b)
False
55.

If there is an error in a bank savings register, it typically means the bank has made an error.

a)

True

b)

False

56.
How can a cardholder avoid paying interest on a credit card?
a)
Do not pay anything
b)
Pay the minimum payment after its due date
c)
Pay the minimum balance every month
d)
 Pay the balance in full every month
57.

The current balance is $306.55 on your credit card. You then make a purchase of $209.54 followed by a payment of $175.00. If the finance charge is $6.75, what is your new balance?

a)

$347.84

b)

$492.09

c)

$571.37

d)

$306.55

58.

If the sum of the daily balances of a credit account totals $18,903.86 over 30 days, what is the average daily balance (round to the nearest cent)?

a)

$630.13

b)

$529.10

c)

$710.02

d)

$791.29

59.

If the collateral for your secured loan can be taken away, why get a secured loan at all?

a)

Because they usually have a higher interest rate

b)

Because they usually have a lower interest rate

c)

Banks give you an extra 90 days to make a missed payment

d)

Banks typically don't charge interest for the first 12 months

60.

A shorter auto loan term means ____ monthly payments & ____ total interest you'll pay.

a)

higher, less

b)

lower, more

c)

higher, more

d)

lower, less

61.

All of the following can happen when you fail to make a mortgage payment EXCEPT:

a)

After one missed payment, you can lose your home

b)

You will be charged fees

c)

Your credit score can take a hit

d)

Foreclosure process starts after 30 days of missed payment

62.

Nichole wants to buy a Dodge Charger that costs $29,500. She will make a $6,000 down payment and borrow the remaining with a 72-month loan that has an annual interest rate of 4.8%. Determine Nichole’s monthly car payment to the nearest dollar amount.

a)

$6,000

b)
$407
c)

$319

d)

$72

63.

Rachel is taking out a $10,000 loan for 5 years with an APR of 7.25%. What will be her monthly payment?



(a)  

64.

Renter's insurance is...

a)

fairly expensive

b)

relatively cheap

c)

unnecessary

65.
The type of insurance that provides protection against financial loss from medical bills is called
a)
health insurance
b)
coinsurance
c)
life insurance
d)
premium
66.

What is the average monthly renter's insurance premium cost in the U.S.?

a)

$150/month

b)

$90/month

c)

$40/month

d)

$15/month

67.

Which insurance coverage is required by law?

a)

Homeowners insurance

b)

Auto insurance

c)

Renters insurance

d)

Disability insurance

68.

Your health insurance copay is

a)

Amount paid out of pocket before your insurance coverage

b)

Paid by the insurer

c)

Applied on an annual basis

d)

A fixed amount of money you pay each time you use your plan

69.

Match the following

a)

The first price a stock was traded at during the start of a regular trading day

1.

Open

b)

The final price a stock was traded at during the end of a regular trading day

2.

Close

c)

The most expensive price that one share of a particular stock was traded at

3.

High

d)

The least expensive price that one share of a particular stock was traded at

4.

Low

70.

Match the following items to the green candlestick:

a)

Open

b)

Close

c)

High

d)

Low

1
2
3
4
1)
2)
3)
4)
71.
If a bond is held to maturity, the investor will receive an amount stated on the bond known as the _______.
a)
ticket value
b)
face value
c)
maturation value
d)
printed value
72.
One way people can earn money from stocks is by...
a)
selling the stock for the same price as the price they paid for the stock.
b)
buying stock from an investment banker
c)
selling the stock for a lower price than the price they paid for the stock.
d)
selling the stock for a higher price than the price they paid for the stock
73.
Diversifying can occur by...
a)
buying similar stocks and bonds in different industries
b)
buying different stocks and bonds in the same industries
c)
buying similar stocks and bonds in the same industries
d)
buying different stocks and bonds in different industries
74.
Stockholders can reduce the risk on their stock investment by diversifying their portfolios.
a)
TRUE
b)
FALSE
75.
Which of the following is the LEAST risky investment?
a)
corporate bonds
b)
stocks
c)
U.S. Treasury bonds
d)
mutual funds
76.
A bond's interest rate is also called its 
a)
par value
b)
coupon rate
c)
face value
d)
principal
77.
Why would someone buy a bond instead of a stock?
a)
It is a less risky investment
b)
It can yield a higher return on investment
c)
To have ownership in a company
d)
To receive dividend payments
78.

A percentage of a borrowed sum of money that must be paid in addition to the repayment of the loan itself

a)

Interest

b)

Loan

c)

Savings

d)

Expenses

79.

Which would be considered the highest risk investment type?

a)

Stock

b)

Mutual Fund

c)

Bond

d)

Money Market Account

80.

A _____ is a loan given to an organization while a _______ is partial ownership in the company.

a)

bond, ETF

b)

stock, bond

c)

bond, stock

d)

ETF, bond

81.

What's the main difference between a Roth IRA and a Traditional IRA?

a)

Roth IRAs have higher interest rates

b)

Roth IRAs have you pay taxes upfront

c)

Roth IRAs have higher fees

d)

Roth IRAs are riskier investments

82.

Taylor bought 200 shares of stock for $18.12 per share last year. He paid his broker a flat fee of $30. He sold the stock this morning for $21 per share, and paid his broker 0.5% commission. What were Taylor's net proceeds?

a)

$525

b)

$423

c)

$346

d)

$289

83.

What is broker commision?

a)

broker commision is a fee that does not depend on the value of the transaction

b)

broker commission is a fee that depend on the value of the transaction

c)

broker commission is a fee that is the same fee for all buyers

d)

broker commissio is a fee that same with the flat fee

84.

Select the type of risk where value will diminish over time a the value of the dollar increases.

a)

liquidity risk

b)

inflationary risk

c)

currency risk

d)

credit risk

85.

Select all that apply: Considerations that are relevant when setting a financial goal.

a)

What are you trying to accomplish?

b)

What is the timeline of the investment?

c)

What do you want to do with the returns?

d)

How much do you want to invest?

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