# Final Exam Study Guide Problem 17 Solution

This problem also requires you to use the z score

like you did in Problem 16. This problem also comes from  Section. You will need to use a table of z scores (supplied on the Final Exam) to do part c.

# Final Exam Study Guide Problem 16 Solution

A z score indicates how far above or below the mean a data value is in terms of the standard deviation. The z score is defined as

Problem 16 from Section 14.4 uses z score to decide what is more “impressive”.

# Final Exam Study Guide Problem 15 Solution

In this problem you need to construct a frequency table by counting the data points that fall into specified intervals. Once this is done, you can construct a histogram from those frequencies.

# Final Exam Study Guide Problem 14 Solution

To find the expected value of a game, find all of the values associated with the game v1, v2, …, vn and the corresponding probabilities p1, p2, …, pn. and add the product of each value and corresponding probability.

E = p1 v1 + p2 v2  + … +  pn vn

# Final Exam Study Guide Problem 13 Solution

Tree diagrams are often useful for determining compound probabilities and conditional probabilities. Although you will not do a card problem on the final, it is useful for demonstrating how tree diagram are constructed. For this problem you need to remember that there are 52 card in a deck, 13 cards in each suit, and 4 cards of each denomination.

# Final Exam Study Guide Problems 11 and 12 Solutions

These two problems ask you to find the number of ways to do something. The key is to decide whether order matters (permutation) or order does not matter (combination). To count permutations where selections may not be repeated, we use

For combinations where selections may not be repeated, we use

Many of you may choose to use technology to compute these values. But this won’t get you very far if you cannot distinguish between when you use permutations and when you use combinations.These types of problems are covered in Section 12.3 of your textbook.

# Final Exam Study Guide Problem 10 Solution

This problem  requires you to convert units. Remember that there will be a list of unit conversions attached to the exam.

This content is covered in Section 9.5.

# Final Exam Study Guide Problem 9 Solution

This problem asks you to find the interest on a credit card based on average daily balance. This is essentially what you were asked to do on Project 2. This content is covered in Section 8.3 of your text.

# Final Exam Study Guide Problem 8 Solution

This problem is easily confused with Problem 7 because of the payment. However, since this is an annuity you need to use the annuity formula

This content is covered in Section 8.4 of your textbook.

# Final Exam Study Guide Problem 7 Solution

As soon as you see the word amortized, you need to find the amortization formula

Don’t simply go to the annuity formula when you see payments are being made since the annuity formula and the amortization formula both have payments in them.

This content is covered in Section 8.5 of your textbook.