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OPMT 1130 Review exercises Review Exercises: Quiz 1 and Midterm1.An investor bought a total of 1,000 shares of QT Resources. In January, he purchased 300 shares and paid $10.00 per share, in February he purchased 200 shares at $11.00/share. He bought the rest of the shares in March. If the investor’s average price per share is $12.50 what was the price paid per share for those shares purchased in March? 2.An investor bought shares of Uranium Mines on three separate occasions throughout the year. The results are summarized below. What is the average price paid per share? Amount SpentPrice per Share$5,000$10.00$9,800$14.00$5,200$13.003.You invested $10,000 a year ago. You put $3,000 in a mutual fund that lost 6% last year. You also put $2,000 in Bonds that paid 8%. The rest you put into a GIC. If, today, you earnedan average of 2.5%, what rate of interest did the GIC earn?4.Shyster and Associates specialize in corporate law. They charge $100 an hour for researching a case, $75 per hour for consultations, and $200 an hour for writing a brief. Last week one of the associates spent 10 hours consulting with her client, 10 hours researching the case, and 20 hours writing the brief. What was the mean hourly charge for her services?5.The following are annual salaries for a sample of 10 sales managers (in $1,000’s). 100 78 85 200 84 83 81 80 78 90 Determine the: (a) mean salary (b) standard deviation (c) mode (d) range (e) median(f) Interpret the median using the words of the problem.(g) Which measure of central location -the mean or the median- best represents the salary of a typical sales manager? Explain why. (h) What is the z-score for the $200,000 salary? Interpret it using the words of the problem. (i) Is the $200,000 salary an outlier?6.You have $5,000 to invest in mutual funds. You are considering buying one of two mutual funds: TSX Index Fund or High Yield Bond Fund. Over the last year the TSX fund has sold ata mean price of $30 with a standard deviation of $3. The Bond fund has sold at a mean price of $8 with a standard deviation of $2. (a) Calculate the coefficient of variation for each mutual fund. (b) Which mutual fund is riskier? Explain which measure you would use to determine this. 7.On the Sea-to-sky highway between Vancouver and Whistler, a motor vehicle accident occurs,on average, once every TWO DAYS. In any given 1 WEEK period, what is the probability that there is exactly one motor vehicle accident?8.The probability that a university student will not finish their first year is 0.35. Find the probability that at least 3 out of 5 randomly selected students will finish their first year?1 of 7