This problem explores your understanding of revenue, cost and profit. This problem is similar to Problem 3 on the Midterm and Problem 3 on the Midterm Study Guide.

# Final Exam Study Guide Problem 10 Solution

In this problem, you compute the payment on an ordinary annuity using

# Final Exam Study Guide Problem 9 Solution

In this problem, you need to calculate the probability of several events based on a table. In some cases it is easy to count the outcomes in the event…in others you need to utilize compound events to calculate the probability. This content is covered in Section 7.2.

# Final Exam Study Guide Problem 8 Solution

This problem requires you to use the compound interest formula in Section 5.1. In this problem, you need to solve for *i* by removing a power.

# Final Exam Study Guide Problem 7 Solution

This problem requires you to set up a standard minimization problem like you did in Section 4.4.

# Final Exam Study Guide Problem 6 Solution

In this problem from Section 4.3, you need to use row operations to solve a linear programming problem.

# Final Exam Study Guide Problem 5 Solution

In this problem you use a table to calculate probabilities. These types of problems are covered in Section 7.2. Part b concerns a compound event so you need to be careful and not double count outcomes in the event.

# Final Exam Study Guide Problem 4 Solution

Problem 3 on the Final Exam Study Guide involved permutations since order made a difference when counting arrangements. In this problem we are forming committees where rearrangements in any committee are not counted. Because of this, combinations are needed to count different arrangements. This content is covered in Section 8.2.

# Final Exam Study Guide Problem 3 Solution

The third problem on the Final Exam Study Guide comes from Section 8.1. In this problem you are asked to count arrangements of people where different orderings of the same people are different and you are not allowed to repeat choices. This makes it different from Problem 2 on the Final Exam Study Guide where order makes a difference but repetition is allowed.

To count this type of arrangement you need permutations:

where *n* is the number of objects you are choosing from and *r* is the number selected.

# Final Exam Study Guide Problem 2 Solution

The second problem on the Final Exam Study Guide is about using the Multiplication Principle to determine the number of possible license plates. This topic is covered in Section 8.1.