EXERCISE 8.4 PG. 279 #8
Philip has two outstanding payments for a loan that he gave his friend: $3650, due two months ago, and
another payment of $900, due in eight months. If his friend promises to make one single payment in five
months that would be equ
Annuities
10.6
Calculating the Periodic Payments ( )
= [
= [
(+)
(+)
]
] ( + )
= [
(+)
= [
]
(+)
] ( + )
Ex 10 What semi-annual payment must be made for 10 years at 5% compounded semi-annually, to have
an amount of $50,000? What is the amount of int
Summary of Key Formulas
P=R#B
I = Prt
S = P (1 + rt)
%C =
= S (1 + rt)-1
P=
Pay for pay period =
FV = PV(1 + i)n
PV = FV(1 + i)
Property tax = Assessed value of property # Tax rate
n
=
I = FV - PV
j
i= m
Amount of trade discount = d # L
n=m#t
-1
i=
N = L
Ch 8: Simple Interest
8.2, 8.3 Amount of Simple Interest:
=
Amount of Interest =
Principal
rate of interest
(Investment/Loan)
(y/m/d)
(Triangle)
time period
(y/m/d)
Ex 1 You borrowed $5,000 for 30 months at a simple interest rate of 10% per annum; how muc
Review Annuities
1.
What monthly payment must be contribute to Registered Retirement Savings Plan
(RRSP) for 35 years, to receive a $2,000 monthly from Registered Retirement Income Fund
(RRIF) for 25 years? The interest rate is 5% compounded semi-annually
Annuities
10.1 Introduction:
Annuity: A series of equal payments at regular intervals
10.2 Future & Present Value of an Ordinary Simple Annuity:
= [
(+)
]
&
= [
(+)
]
Ex 1 Royce contributed $1,000 at the end of every month in a Registered Retirement Sa
Ch 9:Compound Interest
9.5
Calculating the Periodic Interest Rate () & the Nominal I.R. ():
=( )
&
=
Ex 1 = $8,000, = $9,261, Term: 3 years, calculate the nominal interest rate compounded:
a) Annually
b) Semi-annually
c) Quarterly
d) Monthly
e) Daily
Ex
Ch 9:Compound Interest
9.1
Introduction:
Ex 1
$1,000 @ 10% for 3 years:
=
Ex 2
Ex 3
a) Simple Interest
b) Compound Interest
: Nominal interest rate
[ j has two components: % & compounded ]
: Periodic interest rate (sa, q, m, d)
: Number of compounding per
QNM 103 FINAL REVIEW ( 2 sheets)
#1. Casey's Sports Store buys a set ofskis for $75 less 207o and 5olo. The operating expenses for the
store are 20o/o ofthe cost and the operating profit is 157' ofthe cost.
(a) What is the selling price of a set of skis?
QNM103 FORMULAS
Percent
Rate =
Portion
100%
Base
%c=
V f Vi
Vi
100%
Original number + Increase or decrease = New number
% Change = Amount of change x 100
Original number
Payroll
Periodic Gross Pay =
annual salary
Number of paydays per year
Overtime Pay
REVIEW FOR QNM 103 . MIDTERM
The answers are in brackets!
1. Solve for x:
a) 12x + 4.9 = 50 + 8x (ans. 11.28)
b) x + 18% of x = 345 (292.37)
c) 2x + 46% of x = 247 (100.41)
d) (3/7) x = 50 (116.67)
e) k 8% of k = 432 (469.57)
f) 10 + 3x 1.6x = 150 2x (41.
Linear Regression
Question 1
The Ontario Ministry of Transportation believes that highway injuries (e.g. death, head
injuries, broken bones) are related to speed. Hence, the Ministry observed 93 sections of
Highway 401 between Windsor and Kingston over a
Addendum
Business Statistics-QNM222NKK/NLL/NMM/NNN
Winter 2016
Professor: A. Artopoulo
Office:
C1019
Office Hours: Monday:
9:50 10:40
Wednesday: 12:35 1:25
Thursday:
10:45 11:30
_
Modes of Instruction
Classroom lecture, large group and small group problem
Seneca College of Applied Arts and Technology
SOC 222
Mid-Term Assignment
The European Age of Discovery
Over the last few weeks, we have looked at the age of European
exploration, which created new cross-connections between global
civilizations, and accel
4
Numerical Descriptive
Techniques
Recall from Chapter 1
Population : a collection of persons, objects, or items of interest
Parameter : is a descriptive measurement about a population
Sample
: a portion of the whole
Statistic : is a descriptive measureme
1
What is Statistics?
1.1 Key Statistical Concepts
Statistical inference problems involve three key concepts: the population, the sample, and the
statistical inference. We now discuss each of these concepts in more detail.
Population
A population is the g
Chapter 4
4.40 First quartile: L25 (15 1)
Second quartile: L50 (15 1)
25
= (16)(.25) = 4; the fourth number is 3.
100
50
= (16)(.5) = 8; the eighth number is 5.
100
75
= (16)(.75) = 12; the twelfth number is 7.
100
Third quartile: L75 (15 1)
4.41 30th per
1.
2.
3.
Calculate the Standard Deviation for the given Sample:
57, 68, 64, 71, 62
Calculate the Standard Deviation for the given Population:
1, 2, 2, 3, 3, 4, 4, 5, 6, 6
(Ans: s = 5.41)
(Ans: = 1.62)
Below is a sample of data. Find the standard deviation
2
Graphical Descriptive
Techniques I
2.1 Types of Data and Information
Definitions:
A variable is some characteristic of a population or sample. (e.g. student grades)
Typically denoted with a capital letter: X, Y, Z
The values of the variable are the rang
Appendix A
Recall: Ungrouped data
Mean
Population
Sample
=
=
Variance
=
2 =
Standard Deviation
1
=
2
= 2
=
2
2
s = 2
1
Grouped Data
Mean
Population
Sample
=
=
Variance
=
=
Standard Deviation
=
=
Numerical Descriptive Techniques (NA
3
Graphical Descriptive
Techniques II
3.1 Describe a Set of Interval Data
p.45
Example 3.1: Analysis of Long-Distance Telephone Bills:
Following deregulation of telephone service, several new companies were created to compete in the
business of providing
MULTIPLE CHOICE
1.
A councilman who is running for the office of senator of a state with 3.5 million registered voters commissions a
survey. In the survey, 46% of the 8,000 registered voters interviewed say they plan to vote for him. The
population of int
Empirical Rule: If
a set of data is normally distributed (Ch08), or bell shaped,
approximately 68% of the data values are within 1 standard deviation of the mean,
95% are within 2 , and almost 100% are within 3.
1
2
3
68%
95%
99.7%
Chebysheffs Theorem:
QNM106: QUIZ 2 PRACTICE QUESTIONS
1. How much should be paid for an annuity that would provide $5000 at the end of every year for
the first 7 years and $8000 at the end of every year for the next 4 years, if the interest rate is 6%
compounded semi-annuall
QNM106: QUIZ 1 PRACTICE QUESTIONS
1. What amount decreased by 15% is $255? ($300)
2. Company A had a profit of $120,000 at the end of the first year of business. At the end of the
second year of its business, Company A reported a profit that was reduced b