OWare- Consumer Math 3. Statistics

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Study the following distribution chart. What is the mode? 1,450 and 1,500 1,550 1,500 1,525

1,450 and 1,500

What is the dollar amount of the Harris family's annual housing budget?

11,100

Find the mode for the following distribution. 24 28 and 32 28 32

Find the mode in this frequency distribution. What is the mode? NumberFrequency 61 12 62 3 63 11 64 21 65 10 66 3

According to the given line graph, what is the trend in temperature?

warmer

A shelf has 20 bags of potatoes. Two of the bags have potatoes starting to go bad. What is the expected probability of the complement of the event "bad bags of potatoes"?

0.9

Make a frequency distribution and find the relative frequencies for the following number set. Round the relative frequency to the nearest tenth of a percent. Some of the answers will be used more than once and some may not be used.

1 - 0 3 2 4 3 2 3 5 3 4

Study the following distribution chart. What is the mode? NumberFrequency 1,400 3 1,450 7 1,500 7 1,550 5 1,600 4 1,650 2 1,700 1

1,450 and 1,500

1. normal distribution 2. standard normal distribution

1. a distribution that takes on the shape of a bell curve 2. normal distribution with a mean of 0 and a standard deviation of 1

1. box and whiskers graph 2. median 3. outlier

1. a graph that divides data into 4 equal groups of numbers 2. the middle number when the numbers are arranged in order of size from least to greatest 3. any number in a data set unusually different from the other elements

Reduce fractions expressing probability to lowest terms. In 3,000 repetitions of an experiment, a random event occurred in 500 cases. The expected probability of this event is?

1/6

What percent of the total budget was used for electric, phone, and water?

Select the missing numbers. Remember to indicate a negative cash flow with parentheses. Net Cash Flows for: Jan March April June

25 - 5 - 35 - 60

For the next six month period Sammy wants to calculate the monthly deviation from the average.

289.17 339.17 164.17 -245.8 480.83

How many degrees warmer was the fourth temperature from the third temperature?

How much did the temperature cool off from the sixth year to the seventh year on the given day?

Find the probability an observation is on a Thursday when the temperature is between 90 and 99. Find the probability an observation is on a Monday when the temperature is less than 90. Find the probability an observation is on a Friday when the temperature is greater than 89. Find the probability that the temperature is between 90 and 99, it will be a Thursday. Find the probability that if the temperature is between 110 and 120 and it will be a Sunday.

33% 25% 15% 33% 0%

Jim Tree pays for shipping on the basis of weight. He knows weight is normally distributed so he can use the standard normal distribution. He decides to weigh 1,000 randomly trees in his shipment. Next, he calculates the mean and standard deviation of their weights. He finds the mean is 30 lbs and the standard deviation is 10 lbs. Now, Jim uses the normal distribution table to calculate the number of trees in each segment of the distribution.

340 23

Tim has kept the following record of his water bills. What is the average?

54.20

Lot 1:Week 1: 600Week 2: 300Week 3: 500Week 4: 900 Step 1. Jim enters the data and calculates the average or mean. Step 2. Jim calculates the deviation from the mean by subtracting the mean from each value. Step 3. Jim squares each deviation to remove negative signs. Step 4. Jim sums the squares of each deviation and divides by the count for the variance. Step 5. Jim takes the square root of the variance to find the standard deviation.

575

The image below represents a 12 × 16 room with an 8 × 10 piece of linoleum centered in the room. The yellow and blue rectangles extend the length of their respective sides. Where these two rectangle overlap, there is a green rectangle. What is the area of the green rectangle?

The average phone bill was?

61.67

The total amount paid for electricity during the three month period was?

622.21

Jim Tree wants to analyze his shipment of trees based on height. He knows the height of the trees is normally distributed so he can use the standard normal distribution. He measures the height of 100 randomly selected trees in his shipment. He finds the mean is 65 inches and the standard deviation is 10 inches. What percentage of the trees will be between 55 inches and 75 inches?

68%

A hat contains the names of seven boys and three girls. If one name is drawn from the hat at random, P(Boy) =

7/10

Tim Worker wants to purchase an automobile warranty costing $856. If he chooses to make 12 equal payments, then in dollars and cents the average payment will be?

71.33

Tim Worker receives the following income monthly from a second job. In dollars and cents the average monthly payment for his work will be?

730.83

Select the missing numbers. Remember to indicate a negative cash flow with parentheses. Net Cash Flows for Jan March April June

75 - 40 - 35 - (40)

What percent of the total budget was used for credit card (to the nearest tenth)?

8.8

Tommy Teacher wants to analyze the weights of the students at his school. He knows the weight of the students is normally distributed so he can use the standard normal distribution. He measures the weight of 100 randomly selected students in the school. He finds the mean is 80 pounds and the standard deviation is 8 pounds. Out of 100 students, how many should weigh between 64 and 96 pounds?

95%

Answer the following question regarding the table below. Which number appears most frequently?

Given: The universal set = {all animals}; A = {hogs}; B = {cows}; C = {horses}; D = {foals}; E = {mares}. Click on the diagram until you find the one that correctly represents the expression. (Note: mares are female horses, foals are baby horses). A n E

A and E circles connected but with orange where they touch (wrong)

Big C circle smaller E green circle in inside

Jim Tree sells 3 items for which he receives $35 in cash. Where would Jim list the amount received?

Cash Assets

Given 11 players, five players have a weight lighter than 163 pounds.

True

If a firm stays in business, it incurs fixed costs even if it does not produce anything.

True

In running a home business, it is important to keep accurate financial records.

True

In the normal distribution, values in the distribution being measured are close to the mean (high or low values are infrequently found).

True

Random means by chance.

True

Saving regularly or creating a specific category for "emergencies" are ways a family can plan for unexpected expenses.

True

There are approximately as many boys between 158 and 163 as there are between 163 and 167.

True

Which years had the same temperatures on the given day?

seventh and eighth

For the six month period given, Fred wants to calculate the monthly deviation from the average.

287.50 -287.50 437.50 87.50 -362.5

In the standard normal curve, the mean is ___ and a standard deviation of ___.

0 1

The median weight of the players is _____.

163

If 154 pounds is the lightest weight, then ___ pounds is the heaviest.

169

Find the median for the following set of numbers. 4, 18, 3, 29, 23

The amount that went to savings in month 2 was ___.

180

If these are all of Sally's expenses, what is her net cash flow?

183

Calculate the averages for each category for the three-month period.

2133.33 213.33 590.50 90.33 22.32 172.54 208.82 103.50 25.00 40.30 15.00 18.00 100.00 75.00 39.67 65.42 140.00

A cash budget will not help identify possible problem times.

False

Any sample from a group of people will be representative of the entire group.

False

Financial records such as the balance sheet do not have a prescribed format or procedure.

False

Given 11 players, each unit (box or whisker) has the same number of players.

False

In making a sales forecast, the business owner can only use his best judgment to determine projected costs and revenues.

False

Most firms sell at the highest price without consideration for consumer demand.

False

Sales on credit are immediately counted as cash receipts.

False

The Harris family's budget categories add up to exactly 100 percent.

False

The normal distribution is sometimes called the bell curve because Alexander Graham Bell discovered it.

False

There are approximately as many boys between 167 and 169 as there are between 169 and 170.

False

Subsets of the universal set are represented in a Venn diagram by ___.

a circle

To plan a budget, first prioritize expenditures.

True

In what month was a repair bill paid?

month 2

Calculate the total budget and then fill in the missing percentages (to the nearest tenth).

15. ? 31.4? 4.5 2.7 3.1 17.9 9.5 15.?

1. favorable outcome 2. outcome 3. probability

1. outcomes in your favor, those outcomes you are looking for 2. results of an experiment 3. ratio of favorable outcomes to all outcomes

575 46875 218.7

Study the following distribution chart. What is the mode? 22 29, 30, 31, 32, 33 There is no mode.

There is no mode.

A balance sheet represents a systematic listing of the assets, liabilities, and owner's equity at the time it is made.

True

A budget is a planning tool.

True

According to this lesson a family can plan a budget by dividing their anticipated expenditures into several major categories.

True

An unbiased sample is one in which every member of the group has an equal chance of being chosen.

True

Assets that are readily converted into cash are termed liquid assets.

True

Data is pieces of information.

True

Carl Cornfield makes a payment of $250 on a panel truck. What two lines of the balance sheet will this payment change? It will reduce ___ and also reduce ___

cash accounts payable

Carl Cornfield made up the following balance sheet after one year in business. Carl receives $1,750 for vegetables. Which two lines of the balance sheet will this increase?

cash accounts payable

Carl Cornfield makes a payment of $250 on a panel truck. What two lines of the balance sheet will this payment change? It will reduce ___ and also reduce ___

cash accounts payable

big circle C inside two connected circles E and D connected parts of E and D is a brown orange

Click on the graphic until you find the one that matches the description. A universal set with one subset.

blue background white circle with an R there

The purpose of this unit has been to learn about new topics in statistics.

false

The number 163 represents the ___ of the data set.

median

Expenses that Joe does not pay monthly include:

new clothes new TV budget taxes

A balance sheet has assets listed on the left, and liabilities and ___ on the right

owner´s equity

For a given distribution the average is 15.5 and the standard deviation is 1.5.If a sample is taken at random, which value is most likely?

16.3

Carl Cornfield purchases equipment for $450. After reducing the cash line where else would Carl put an entry for this purchase?

Equipment Assets

1. biased sample 2. data 3. frequency distribution 4. random sample 5. relative frequency 6. statistician 7. statistics

1. sample that is not random 2. information from which conclusions can be drawn 3. a chart showing the frequency of data points. 4. sample in which every member of the large group has an equal chance of being chosen 5. percent of one element in the distribution as a part of the whole distribution. 6. expert in statistics 7. numerical data or facts

1. empty or null set 2. finite set 3. infinite set 4. subset 5. union of sets

1. set with no elements 2. set with countable elements, an empty set is also a finite set 3. set with an unlimited number of elements 4. set whose members belong to another given set 5. new set containing all elements of all sets being considered

What percent of Sally's salary does she budget for donations?

Fill in the missing amounts.

1120 300 350 250 825 1545

1. average 2. bimodal 3. budget 4. mean 5. median 6. mode

1. a measure of central tendency 2. having two modes 3. a plan to manage money 4. the sum of a group of terms divided by the count 5. number in a frequency distribution that has just as many data points below it as above it 6. number that appears most frequently in a set of numbers

1. cash budget 2. expense 3. income

1. a projection of future cash receipts and cash disbursements of a firm over an interval of time 2. money going out 3. money coming in

1. asset 2. balance sheet 3. decrease in owner's equity 4. expense 5. income 6. increase in owner's equity 7. liabilities

1. cash, equipment, trademarks, inventory and money owed to you 2. a systematic listing of the assets, liabilities, and owner's equity at time it is made 3. change in owner's equity when there is a loss 4. costs of doing business 5. revenue received by a business for performing services 6. change in owner's equity when there is a profit 7. any amounts you owe

1. deviation 2. frequency distribution 3. range 4. standard deviation 5. variance

1. difference between any value and the mean of the set 2. organizes data into categories called classes 3. difference between the smallest term in the data set and the largest term in the data set 4. square root of the variance 5. square of the standard deviation

1. An object that belongs to a set 2. A set without elements 3. A collection or group of objects 4. Any set whose elements cannot be counted 5. Any set whose elements can be counted

1. element 2. empty set 3. set 4. infinite set 5. finite set

1. a portion of a large group 2. choosing a sample so that every member has an equal chance of being chosen 3. choosing a sample from people who are under 15 years old 4. using the responses of a small group to make conclusions about the large group.

1. sample 2. random sample 3. biased sample 4. estimating from a sample

Find the median for the following set of numbers: 100, 110, 120, 125, 140, 150, 160

125

Using the Random Digits table from the lesson, start with the number in the tenth column, eighth row. List that number and next 4 numbers in the column. First Number: Second Number: Third Number: Fourth Number: Fifth Number:

19 82 54 09 99

Make a frequency distribution and find the relative frequencies for the following number set. Round the relative frequency to the nearest tenth of a percent.

2 - 8.3 2 - 8.3 4 - 16.7 2 - 8.3 3 - 12.5 5 - 20.8 3 - 12.5 1 - 4.2 2 - 8.3

Complete this table.

22.50 28.35 706.00 674.33 112.50 85.00

Find the mode for the following distribution. 230 220 No mode 250 and 270 260

230

Lot 3:Week 1: 345Week 2: 340Week 3: 400Week 4: 325 Step 1. Jim enters the data and calculates the average or mean. Step 2. Jim calculates the deviation from the mean by subtracting the mean from each value. Step 3. Jim squares each deviation to remove negative signs. Step 4. Jim sums the squares of each deviation and divides by the count for the variance. Step 5. Jim takes the square root of the variance to find the standard deviation.

352.5 809.3 28.5

A box and whiskers chart divides a data set into ___ equal parts called quartiles.

Answer the following question regarding the table below. What is the smallest number?

Study the following distribution chart. What is the mode? 50 and 80 40 and 70 40 50

40 and 70

Carl Cornfield made up the following balance sheet after one year in business. Carl decides to buy some special equipment for $750. His cash line will now be ___ and his equipment line will now be ___.

4250 5750

What is the average daily temperature for all ten years?

53.6

Answer the following question regarding the table below. What is the largest number?

How many leaves are there in the universal set? How many leaves are in the shaded subset? How many leaves are in the not-shaded subset?

8 6 2

Using the Random Digits table from the lesson, start with the number in the sixth column, seventeenth row. List the first digit of that number. The first digit is _____.

The universal set is represented in a Venn diagram by ___.

a rectangle

Given: The universal set = {Corn acreage}; A = {Yellow Corn}; B = {yellow corn | the yellow corn is the variety Giant Kernel}; C = {White Corn}; D = {white corn | the white corn is the variety Butter and Sugar}. Click on the diagram until you find the correct one. C n D

two connected circles labeled C and D with pink on the connected parts ( wrong)

Given: The universal set = {all acreage}; A = {Corn only}; B = {Beans only}; C = {Squash}. Click on the diagram until you find the correct one. A n B

two separate circles labeled A and B

Generally speaking, using a ___ of a year's history of cash receipts and disbursements will be a satisfactory basis for projecting the future.

full

Which of the following items did Joe include in his fixed expenses?

insurance utilities rent

Assets include what three items?

inventory equipment cash

If the stem on the left has the weights of the juniors and the stem on the right has the weights of the freshmen, we can see that the ___ weigh more.

juniors

If a business experiences wide fluctuations, it is wise to make ___ range forecasts.

OWare- Consumer Math 3. Statistics

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