Mathematical Applications for the Management, Life, and Social Sciences
12th Edition
ISBN: 9781337625340
Author: Ronald J. Harshbarger, James J. Reynolds
Publisher: Cengage Learning
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Chapter 6.1, Problem 27E
To determine
To calculate: The first six terms of the sequence which is defined by the sequence whose
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Chapter 6 Solutions
Mathematical Applications for the Management, Life, and Social Sciences
Ch. 6.1 - CHECKPOINT
1. What is the simple interest...Ch. 6.1 - CHECKPOINT
2. If $8000 is invested at 6% simple...Ch. 6.1 - CHECKPOINT
3. If a $2500 investment grows to $2875...Ch. 6.1 - Prob. 4CPCh. 6.1 - CHECKPOINT
5. Given the arithmetic sequence...Ch. 6.1 - In Problems 1 and 2, find the requested value and...Ch. 6.1 - Prob. 2ECh. 6.1 - 3. $10,000 is invested for 6 years at an annual...Ch. 6.1 - 4. $800 is invested for 5 years at an annual...Ch. 6.1 - 5. $20,000 is invested for 6 months at an annual...
Ch. 6.1 - 6. $1800 is invested for 9 months at an annual...Ch. 6.1 - 7. If you borrow $800 for 6 months at annual...Ch. 6.1 - 8. If you borrow $1600 for 2 years at annual...Ch. 6.1 - 9. If you lend $3500 to a friend for 15 months at ...Ch. 6.1 - 10. Mrs. Gonzalez lent $2500 to her son Luis for 7...Ch. 6.1 - 11. A couple bought some stock for $30 per share...Ch. 6.1 - 12. Jenny Reed bought stock for $25 per share....Ch. 6.1 - 13. (a) To buy a Treasury bill (T-bill) that...Ch. 6.1 - 14. Janie Christopher lent $6000 to a friend for...Ch. 6.1 - 15. A firm buys 12 file cabinets at $140 each,...Ch. 6.1 - 16. A student has a savings account earning 9%...Ch. 6.1 - 17. If you want to earn 2% annual simple interest...Ch. 6.1 - 18. What is the present value of an investment at...Ch. 6.1 - 19. If $5000 is invested at 8% annual simple...Ch. 6.1 - 20. How long does it take for $8500 invested at...Ch. 6.1 - 21. A retailer owes a wholesaler $500,000 due in...Ch. 6.1 - 22. An investor owns several apartment buildings....Ch. 6.1 - 23. Bill Casler bought a $2000,9-month certificate...Ch. 6.1 - 24. Suppose you lent $5000 to friend 1 for 18...Ch. 6.1 - 25. Write the first ten terms of the sequence...Ch. 6.1 - Prob. 26ECh. 6.1 - Prob. 27ECh. 6.1 - Prob. 28ECh. 6.1 - 29. Write the first four terms and the 10th term...Ch. 6.1 - Prob. 30ECh. 6.1 - In Problems 31-34, (a) identify d and and (b)...Ch. 6.1 - Prob. 32ECh. 6.1 - Prob. 33ECh. 6.1 - Prob. 34ECh. 6.1 - 35. Find the 83rd term of the arithmetic sequence...Ch. 6.1 - 36. Find the 66th term of the arithmetic sequence...Ch. 6.1 - 37. Find the 100th term of the arithmetic sequence...Ch. 6.1 - 38. Find the 73rd term of the arithmetic sequence...Ch. 6.1 - 39. Find the sum of the first 38 terms of the...Ch. 6.1 - 40. Find the sum of the first 56 terms of the...Ch. 6.1 - 41. Find the sum of the first 70 terms of the...Ch. 6.1 - Prob. 42ECh. 6.1 - Prob. 43ECh. 6.1 - Prob. 44ECh. 6.1 - Prob. 45ECh. 6.1 - 46. Salaries Suppose you are offered a job with a...Ch. 6.1 - 47. Profit A new firm loses $4000 in its first...Ch. 6.1 - 48. Pay raises If you make $36,000 and get $2400...Ch. 6.1 - 49. Salaries Suppose you are offered two identical...Ch. 6.1 - 50. Profit A new firm loses $4000 in its first...Ch. 6.1 - 51. Pay raises If you are an employee, would you...Ch. 6.1 - Prob. 52ECh. 6.2 - CHECKPOINT
1. If $5000 is invested at compounded...Ch. 6.2 - CHECKPOINT
2. Find the present value of an...Ch. 6.2 - CHECKPOINT
3. For each future value formula below,...Ch. 6.2 - CHECKPOINT
4. If $5000 is invested at 6%...Ch. 6.2 - CHECKPOINT
5. Find the annual percentage yield of...Ch. 6.2 - CHECKPOINT
6. How long does it take $5000 to...Ch. 6.2 - CHECKPOINT
7. Identify any geometric sequences...Ch. 6.2 - CHECKPOINT
8. (a) Find the 40th term of the...Ch. 6.2 - Prob. 1ECh. 6.2 - In Problems 1 and 2, find the requested value and...Ch. 6.2 - For each investment situation in Problems 3-6,...Ch. 6.2 - For each investment situation in Problems 3-6,...Ch. 6.2 - Prob. 5ECh. 6.2 - Prob. 6ECh. 6.2 - 7. Find the future value if $8000 is invested for...Ch. 6.2 - 8. What is the future value if $8600 is invested...Ch. 6.2 - 9. What are the future value and the interest...Ch. 6.2 - 10. What interest will be earned if $6300 is...Ch. 6.2 - 11. What lump sum do parents need to deposit in an...Ch. 6.2 - 12. What lump sum should be deposited in an...Ch. 6.2 - 13. What present value amounts to $10,000 if it is...Ch. 6.2 - 14. What present value amounts to $300,000 if it...Ch. 6.2 - 15. Find the future value if $5100 is invested for...Ch. 6.2 - 16. Find the interest that will result if $8000 is...Ch. 6.2 - 17. What is the compound interest if $41,000 is...Ch. 6.2 - 18. If $8000 is invested at compounded...Ch. 6.2 - 19. Grandparents want to make a gift of $100,000...Ch. 6.2 - 20. Suppose an individual wants to have $200,000...Ch. 6.2 - 21. Which investment will earn more money, a $1000...Ch. 6.2 - Prob. 22ECh. 6.2 - 23. Find the annual percentage yield for an...Ch. 6.2 - Prob. 24ECh. 6.2 - In Problems 25 and 26, rank each interest rate and...Ch. 6.2 - Prob. 26ECh. 6.2 - 27. Two different investment companies offer...Ch. 6.2 - 28. For life insurance policies, some of the...Ch. 6.2 - 29. The figure shows a graph of the future value...Ch. 6.2 - Prob. 30ECh. 6.2 - 31. Microsoft's stock price peaked at of its IPO...Ch. 6.2 - Prob. 32ECh. 6.2 - 33. How long (in years) would $700 have to be...Ch. 6.2 - 34. How long (in years) would $600 have to be...Ch. 6.2 - 35. At what nominal rate compounded quarterly...Ch. 6.2 - 36. At what nominal rate compounded annually would...Ch. 6.2 - 37. For her 1st birthday, Ruth’s grandparents...Ch. 6.2 - 38. To help their son buy a car on his 16th...Ch. 6.2 - 39. (a) A 40-year-old man has $432,860 in an IRA...Ch. 6.2 - 40. (a) The purchase of Alaska cost the United...Ch. 6.2 - 41. A couple needs $45,000 as a down payment for a...Ch. 6.2 - 42. How long does it take an account containing...Ch. 6.2 - 43. Mary Stahley invested $2500 in a 36-month...Ch. 6.2 - 44. Suppose Patrick Goldsmith deposited $1000 in...Ch. 6.2 - In Problems 45 and 46, use a spreadsheet or...Ch. 6.2 - Prob. 46ECh. 6.2 - Prob. 47ECh. 6.2 - Prob. 48ECh. 6.2 - Prob. 49ECh. 6.2 - Prob. 50ECh. 6.2 - Prob. 51ECh. 6.2 - In Problems 49-58, write an expression that gives...Ch. 6.2 - In Problems 49-58, write an expression that gives...Ch. 6.2 - In Problems 49-58, write an expression that gives...Ch. 6.2 - Prob. 55ECh. 6.2 - Prob. 56ECh. 6.2 - Prob. 57ECh. 6.2 - In Problems 49-58, write an expression that gives...Ch. 6.2 - 59. Inflation A house that 20 years ago was worth...Ch. 6.2 - Prob. 60ECh. 6.2 - 61. Population growth Suppose a country has a...Ch. 6.2 - Prob. 62ECh. 6.2 - Prob. 63ECh. 6.2 - 64. Population If a population of 8 million begins...Ch. 6.2 - 65. Ball rebounding A ball is dropped from a...Ch. 6.2 - 66. Water pumping A pump removes of the water in...Ch. 6.2 - 67. Depreciation A machine is valued at $10,000....Ch. 6.2 - 68. Profit Suppose a new business makes a $1000...Ch. 6.2 - Prob. 69ECh. 6.2 - Prob. 70ECh. 6.2 - Prob. 71ECh. 6.2 - Prob. 72ECh. 6.2 - 73. Chain letters Suppose you receive a chain...Ch. 6.2 - Prob. 74ECh. 6.2 - Prob. 75ECh. 6.3 - CHECKPOINT
1. Suppose that $500 is deposited at...Ch. 6.3 - CHECKPOINT
2. A sinking fund of $100,000 is to be...Ch. 6.3 - CHECKPOINT
3. Suppose $100 is deposited at the...Ch. 6.3 - In Problems 1 and 2, find the requested value (to...Ch. 6.3 - Prob. 2ECh. 6.3 - 3. The figure shows a graph that compares the...Ch. 6.3 - 4. The figure shows a graph that compares the...Ch. 6.3 - 5. Find the future value of an annuity of $1300...Ch. 6.3 - Prob. 6ECh. 6.3 - 7. Find the future value of an ordinary annuity of...Ch. 6.3 - 8. Find the future value of an ordinary annuity of...Ch. 6.3 - 9. The Weidmans want to save $40,000 in 2 years...Ch. 6.3 - 10. A sinking fund is established to discharge a...Ch. 6.3 - 11. If $2500 is deposited at the end of each...Ch. 6.3 - 12. If $4000 is deposited at the end of each half...Ch. 6.3 - 13. In this sections Application Preview, we...Ch. 6.3 - 14. (a) Patty Stacey deposits $2000 at the end of...Ch. 6.3 - 15. Find the future value of an annuity due of...Ch. 6.3 - 16. Find the future value of an annuity due of...Ch. 6.3 - 17. Find the future value of an annuity due of...Ch. 6.3 - 18. A house is rented for $7200 per quarter, with...Ch. 6.3 - 19. How much must be deposited at the beginning of...Ch. 6.3 - 20. What is the size of the payments that must be...Ch. 6.3 - 21. A company wants to have $800,000 for office...Ch. 6.3 - 22. Seana wants to save $20,000 toward the...Ch. 6.3 - In Problems 23-40, (a) state whether the problem...Ch. 6.3 - In Problems 23-40, (a) state whether the problem...Ch. 6.3 - Prob. 25ECh. 6.3 - In Problems 23-40, (a) state whether the problem...Ch. 6.3 - In Problems 23-40, (a) state whether the problem...Ch. 6.3 - Prob. 28ECh. 6.3 - Prob. 29ECh. 6.3 - Prob. 30ECh. 6.3 - Prob. 31ECh. 6.3 - 32. Sofia can deposit $350 at the beginning of...Ch. 6.3 - 33. Mr. Gordon plans to invest $300 at the end of...Ch. 6.3 - 34. For 3 years, $4000 is placed in a savings...Ch. 6.3 - 35. Grandparents plan to open an account on their...Ch. 6.3 - 36. How much money should a couple deposit at the...Ch. 6.3 - 37. Jane Adele deposits $1500 in an account at the...Ch. 6.3 - 38. A company establishes a sinking fund to...Ch. 6.3 - 39. A sinking fund is established by a working...Ch. 6.3 - 40. A property owner has several rental units and...Ch. 6.3 - Problems 41-44 are complex financial problems that...Ch. 6.3 - Problems 41-44 are complex financial problems that...Ch. 6.3 - Problems 41-44 are complex financial problems that...Ch. 6.3 - Problems 41-44 are complex financial problems that...Ch. 6.4 - CHECKPOINT
1. Suppose an annuity pays $2000 at the...Ch. 6.4 - CHECKPOINT
2. An inheritance of $400,000 will...Ch. 6.4 - Prob. 3CPCh. 6.4 - Prob. 4CPCh. 6.4 - Prob. 1ECh. 6.4 - Prob. 2ECh. 6.4 - 3. Find the present value of an annuity of $6000...Ch. 6.4 - 4. Find the present value of an annuity that pays...Ch. 6.4 - 5. Suppose a state lottery prize of $5 million is...Ch. 6.4 - 6. How much is needed in an account that earns...Ch. 6.4 - 7. With a present value of $135,000, what is the...Ch. 6.4 - 8. If $88,000 is invested in an annuity that earns...Ch. 6.4 - 9. A personal account earmarked as a retirement...Ch. 6.4 - 10. A professional athlete invested $2.5 million...Ch. 6.4 - 11. Suppose that a 25-year government bond has a...Ch. 6.4 - 12. Suppose that a 10-year corporate bond has a...Ch. 6.4 - 13. The figure shows a graph that compares the...Ch. 6.4 - 14. The figure shows a graph that compares the...Ch. 6.4 - Prob. 15ECh. 6.4 - Prob. 16ECh. 6.4 - 17. Find the present value of an annuity due that...Ch. 6.4 - 18. Find the present value of an annuity due that...Ch. 6.4 - 19. What amount must be set aside now to generate...Ch. 6.4 - 20. Suppose an annuity will pay $15,000 at the...Ch. 6.4 - 21. A year-end bonus of $25,000 will generate how...Ch. 6.4 - 22. A couple inherits $89,000. How much can this...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - Prob. 32ECh. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - Prob. 34ECh. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - In Problems 23-38, (a) decide whether the problem...Ch. 6.4 - 39. A 10-year Emmaco Corporate bond has a par...Ch. 6.4 - 40. Kodicom Inc. has 15-year bonds with a $5000...Ch. 6.4 - Problems 41-44 are complex financial problems that...Ch. 6.4 - Problems 41-44 are complex financial problems that...Ch. 6.4 - Problems 41-44 are complex financial problems that...Ch. 6.4 - Problems 41-44 are complex financial problems that...Ch. 6.4 - Prob. 45ECh. 6.4 - 46. Find the present value of an annuity of $2000...Ch. 6.4 - 47. The terms of a single parent’s will indicate...Ch. 6.4 - 48. On his 48th birthday, a man wants to set aside...Ch. 6.4 - 49. The semiannual tuition payment at a major...Ch. 6.4 - 50. A community is soliciting pledges for a...Ch. 6.4 - 51. Danny Metzger’s parents invested $ 1600 when...Ch. 6.4 - 52. Carol Goldsmith received a trust fund...Ch. 6.4 - Prob. 53ECh. 6.4 - 54. A couple received a $134,000 inheritance the...Ch. 6.5 - CHECKPOINT
1. A debt of $25,000 is to be amortized...Ch. 6.5 - CHECKPOINT
2. A new college graduate determines...Ch. 6.5 - Prob. 3CPCh. 6.5 - Prob. 1ECh. 6.5 - Prob. 2ECh. 6.5 - 3. A debt of $8000 is to be amortized with 8 equal...Ch. 6.5 - 4. A loan of $10,000 is to be amortized with 10...Ch. 6.5 - 5. A recent graduate’s student loans total...Ch. 6.5 - 6. For equipment upgrades, a business borrowed...Ch. 6.5 - 7. A homeowner planning a kitchen remodeling can...Ch. 6.5 - 8. AdriAnne and Anna’s Auto Repair wants to add a...Ch. 6.5 - Prob. 9ECh. 6.5 - In Problems 9-12, develop an amortization schedule...Ch. 6.5 - Prob. 11ECh. 6.5 - Prob. 12ECh. 6.5 - 13. A $10,000 loan is to be amortized for 10 years...Ch. 6.5 - 14. A debt of $8000 is to be amortized with 8...Ch. 6.5 - 15. When Maria Acosta bought a car years ago, she...Ch. 6.5 - Prob. 16ECh. 6.5 - Problems 17-20 describe a debt to be amortized. In...Ch. 6.5 - Problems 17-20 describe a debt to be amortized. In...Ch. 6.5 - Problems 17-20 describe a debt to be amortized. In...Ch. 6.5 - Problems 17-20 describe a debt to be amortized. In...Ch. 6.5 - 21. A man buys a car for $36,000. If the interest...Ch. 6.5 - 22. A woman buys a car for $40,000. If the...Ch. 6.5 - 23. A couple purchasing a home budget $1800 per...Ch. 6.5 - 24. A developer wants to buy a certain parcel of...Ch. 6.5 - 25. A couple who borrow $90,000 for 30 years at...Ch. 6.5 - 26. A company that purchases a piece of equipment...Ch. 6.5 - 27. When Otto and Millie bought their home, they...Ch. 6.5 - Prob. 28ECh. 6.5 - 29. A recent college graduate buys a new car by...Ch. 6.5 - 30. A young couple buying their first home borrow...Ch. 6.5 - 31. Jadele, Inc., borrowed $12.8 million at 7.2%...Ch. 6.5 - 32. When Gustavo and Serrana bought their home,...Ch. 6.5 - Prob. 33ECh. 6.5 - Prob. 34ECh. 6.5 - Prob. 35ECh. 6.5 - 36. Some banks now have biweekly mortgages (that...Ch. 6.5 - Prob. 37ECh. 6.5 - 38. Time-share sales provide an opportunity for...Ch. 6.5 - Problems 39 and 40 are complex financial problems...Ch. 6.5 - Problems 39 and 40 are complex financial problems...Ch. 6 - 1. Find the first 4 terms of the sequence with nth...Ch. 6 - Prob. 2RECh. 6 - 3. Find the 80th term of the arithmetic sequence...Ch. 6 - 4. Find the 36th term of the arithmetic sequence...Ch. 6 - 5. Find the sum of the first 60 terms of the...Ch. 6 - Prob. 6RECh. 6 - Prob. 7RECh. 6 - Prob. 8RECh. 6 - 9. Loans If $8000 is borrowed at 12% simple...Ch. 6 - 10. Loan rate Mary Toy borrowed $2000 from her...Ch. 6 - 11. Tuition How much summer earnings must a...Ch. 6 - Prob. 12RECh. 6 - 13. Salaries Suppose you are offered two identical...Ch. 6 - Prob. 14RECh. 6 - Prob. 15RECh. 6 - Prob. 16RECh. 6 - 17. Interest If $1000 is invested for 4 years at...Ch. 6 - 18. Savings goal How much must one invest now to...Ch. 6 - Prob. 19RECh. 6 - 20. College fund A couple received an inheritance...Ch. 6 - Prob. 21RECh. 6 - 22. Investment rates (a) If an initial investment...Ch. 6 - Prob. 23RECh. 6 - Prob. 24RECh. 6 - Prob. 25RECh. 6 - 26. Annuity Find the future value of an ordinary...Ch. 6 - 27. Sinking fund How much would have to be...Ch. 6 - Prob. 28RECh. 6 - Prob. 29RECh. 6 - Prob. 30RECh. 6 - Prob. 31RECh. 6 - Prob. 32RECh. 6 - 33. Powerball lottery Winners of lotteries receive...Ch. 6 - 34. Payment from an annuity A recent college...Ch. 6 - 35. Payment from an annuity An IRA of $250,000 is...Ch. 6 - 36. Bond pricing Suppose that a 30-year municipal...Ch. 6 - 37. Duration of an annuity A retirement account...Ch. 6 - 38. Amortization A debt of $1000 with interest at...Ch. 6 - Prob. 39RECh. 6 - Prob. 40RECh. 6 - 41. Amortization schedule Complete the...Ch. 6 - Prob. 42RECh. 6 - Prob. 43RECh. 6 - Prob. 44RECh. 6 - Prob. 45RECh. 6 - Prob. 46RECh. 6 - Prob. 47RECh. 6 - Prob. 48RECh. 6 - Prob. 49RECh. 6 - 50. How much must be deposited at the end of each...Ch. 6 - Prob. 51RECh. 6 - 52. Quarterly payments of $500 are deposited in an...Ch. 6 - 53. If $8000 is invested at 7% compounded...Ch. 6 - 54. An investment broker bought some stock at...Ch. 6 - Prob. 55RECh. 6 - 56. A $5000 Mauranol, Inc., corporate bond matures...Ch. 6 - Prob. 57RECh. 6 - 58. A young couple receive an inheritance of...Ch. 6 - 59. A banker is trying to decide whether to...Ch. 6 - 60. To purchase a home, a couple borrowed $280,000...Ch. 6 - 61. A divorce settlement of $40,000 is paid in...Ch. 6 - 62. If $8000 is invested at 12% compounded...Ch. 6 - 63. A couple borrowed $ 184,000 to buy a...Ch. 6 - Problems 64-67 are complex financial problems that...Ch. 6 - Problems 64-67 are complex financial problems that...Ch. 6 - 1. If $8000 is invested at 7% compounded...Ch. 6 - 2. Suppose you invest $100 at the end of each...Ch. 6 - 3. To buy a municipal bond that matures to $10,000...Ch. 6 - 4. A debt of $280,000 is amortized with 40 equal...Ch. 6 - 5. If an investment of $1000 grew to $ 13,500 in 9...Ch. 6 - 6. A couple borrowed $97,000 at 7.2% compounded...Ch. 6 - 7. If you borrow $2500 for 15 months at 4% simple...Ch. 6 - 8. How much must you put aside at the beginning of...Ch. 6 - Prob. 9TCh. 6 -
10. An accountant wants to withdraw $3000 from an...Ch. 6 - Prob. 11TCh. 6 - Prob. 12TCh. 6 - 13. What amount must you invest in an account that...Ch. 6 - 14. If $1500 is deposited at the end of each...Ch. 6 - 15. Maxine deposited $400 at the beginning of each...Ch. 6 - 16. Grandparents plan to establish a college trust...Ch. 6 - Prob. 17TCh. 6 - 18. Suppose that a 10-year corporate bond has a...Ch. 6 - 19. The following sequence is arithmetic: 298.8,...Ch. 6 - Prob. 20TCh. 6 - 21. If you took a home mortgage loan of $150,000...Ch. 6 - 22. A couple would like to have $50,000 at the end...Ch. 6 - 23. A woman makes $3000 contributions at the end...
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- Suppose the number of people who register to attend the Tucson Festival of Books can be modeled by P(t) = k(1.1), where t is the number of days since the registration window opened. Assume k is a positive constant. Which of the following represents how long it will take in days for the number of people who register to double? t = In(1.1) In(2) In(2) t = In(1.1) In(1.1) t = t = t = In(2) - In(k) In(2) In(k) + In(1.1) In(2) - In(k) In(1.1)arrow_forwardFor unemployed persons in the United States, the average number of months of unemployment at the end of December 2009 was approximately seven months (Bureau of Labor Statistics, January 2010). Suppose the following data are for a particular region in upstate New York. The values in the first column show the number of months unemployed and the values in the second column show the corresponding number of unemployed persons. Months Unemployed Number Unemployed 1 1029 2 1686 3 2269 4 2675 5 3487 6 4652 7 4145 8 3587 9 2325 10 1120 Let x be a random variable indicating the number of months a person is unemployed. a. Use the data to develop an empirical discrete probability distribution for x (to 4 decimals). (x) f(x) 1 2 3 4 5 6 7 8 9 10 b. Show that your probability distribution satisfies the conditions for a valid discrete probability distribution. The input in the box below will not be graded, but may be reviewed and considered by your instructor. blank c. What is the probability that a…arrow_forwardWest Virginia has one of the highest divorce rates in the nation, with an annual rate of approximately 5 divorces per 1000 people (Centers for Disease Control and Prevention website, January 12, 2012). The Marital Counseling Center, Inc. (MCC) thinks that the high divorce rate in the state may require them to hire additional staff. Working with a consultant, the management of MCC has developed the following probability distribution for x = the number of new clients for marriage counseling for the next year. Excel File: data05-19.xls x 10 f(x) .05 20 30 .10 .10 40 .20 50 60 .35 .20 a. Is this probability distribution valid? - Select your answer- Explain. f(x) Σf(x) Select your answer Select your answer b. What is the probability MCC will obtain more than 30 new clients (to 2 decimals)? c. What is the probability MCC will obtain fewer than 20 new clients (to 2 decimals)? d. Compute the expected value and variance of x. Expected value Variance clients per year squared clients per yeararrow_forward
- For unemployed persons in the United States, the average number of months of unemployment at the end of December 2009 was approximately seven months (Bureau of Labor Statistics, January 2010). Suppose the following data are for a particular region in upstate New York. The values in the first column show the number of months unemployed and the values in the second column show the corresponding number of unemployed persons. Months Unemployed Number Unemployed 1 1029 2 1686 3 2269 4 2675 5 3487 6 4652 7 4145 8 3587 9 2325 10 1120 Let x be a random variable indicating the number of months a person is unemployed. a. Use the data to develop an empirical discrete probability distribution for x (to 4 decimals). (x) f(x) 1 2 3 4 5 6 7 8 9 10 b. Show that your probability distribution satisfies the conditions for a valid discrete probability distribution. The input in the box below will not be graded, but may be reviewed and considered by your instructor. c. What is the probability that a person…arrow_forwardIn Gallup's Annual Consumption Habits Poll, telephone interviews were conducted for a random sample of 1014 adults aged 18 and over. One of the questions was "How many cups of coffee, if any, do you drink on an average day?" The following table shows the results obtained (Gallup website, August 6, 2012). Excel File: data05-23.xls Number of Cups per Day Number of Responses 0 365 264 193 3 4 or more 91 101 Define a random variable x = number of cups of coffee consumed on an average day. Let x = 4 represent four or more cups. Round your answers to four decimal places. a. Develop a probability distribution for x. x 0 1 2 3 4 f(x) b. Compute the expected value of x. cups of coffee c. Compute the variance of x. cups of coffee squared d. Suppose we are only interested in adults that drink at least one cup of coffee on an average day. For this group, let y = the number of cups of coffee consumed on an average day. Compute the expected value of y. Compare it to the expected value of x. The…arrow_forwardrounded to two decimal places at each calculationarrow_forward
- In Gallup's Annual Consumption Habits Poll, telephone interviews were conducted for a random sample of 1014 adults aged 18 and over. One of the questions was "How many cups of coffee, if any, do you drink on an average day?" The following table shows the results obtained (Gallup website, August 6, 2012). Excel File: data05-23.xls Number of Cups per Day Number of Responses 0 365 264 193 2 3 4 or more 91 101 Define a random variable x = number of cups of coffee consumed on an average day. Let x = 4 represent four or more cups. Round your answers to four decimal places. a. Develop a probability distribution for x. x 0 1 2 3 f(x) b. Compute the expected value of x. cups of coffee c. Compute the variance of x. cups of coffee squared d. Suppose we are only interested in adults that drink at least one cup of coffee on an average day. For this group, let y = the number of cups of coffee consumed on an average day. Compute the expected value of y. Compare it to the expected value of x. The…arrow_forwardA technician services mailing machines at companies in the Phoenix area. Depending on the type of malfunction, the service call can take 1, 2, 3, or 4 hours. The different types of malfunctions occur at about the same frequency. Develop a probability distribution for the duration of a service call. Duration of Call x f(x) 1 2 3 4 Which of the following probability distribution graphs accurately represents the data set? Consider the required conditions for a discrete probability function, shown below.Does this probability distribution satisfy equation (5.1)?Does this probability distribution satisfy equation (5.2)? What is the probability a service call will take three hours? A service call has just come in, but the type of malfunction is unknown. It is 3:00 P.M. and service technicians usually get off at 5:00 P.M. What is the probability the service technician will have to work overtime to fix the machine today?arrow_forwardA psychologist determined that the number of sessions required to obtain the trust of a new patient is either 1, 2, or 3. Let x be a random variable indicating the number of sessions required to gain the patient's trust. The following probability function has been proposed. x f(x) for x = 1, 2, or 3 a. Consider the required conditions for a discrete probability function, shown below. f(x) ≥0 Σf(x) = 1 (5.1) (5.2) Does this probability distribution satisfy equation (5.1)? Select Does this probability distribution satisfy equation (5.2)? Select b. What is the probability that it takes exactly 2 sessions to gain the patient's trust (to 3 decimals)? c. What is the probability that it takes at least 2 sessions to gain the patient's trust (to 3 decimals)?arrow_forward
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