Fin 200 Checkpoint Week Eight Quiz

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This document of FIN 200 CheckPoint Week Eight Quiz includes answers to the next questions: 1) Firms exposed to the risk of interest rate changes may reduce that risk by A. hedging in the financial futures market. B. hedging in the commodities market. C. pledging or factoring accounts receivable. D. obtaining a Eurodollar loan. 2) LIBOR is A. an interest rate paid on Eurodollar loans in the London market. B. an interest rate paid by European firms when they borrow Eurodollar deposits from U.S. banks. C. the interest rate paid by the British government on its long-term bonds. D. a resource used in production. 3) A firm has invested in corporate bonds; it may engage in a financial futures contract in order to protect itself from A. rising interest rates. B. inflation. C. changes in hedging activities. D. declining interest rates. 4) Commercial paper is very popular with many firms because A. it satisfies the firm's need for long-term funds. B. there are no required lines of credits at the bank. C. it is very easy to roll over (refinance) in times of economic turmoil. D. it can usually be issued below the prime rate 5) Under what conditions must a distinction be made between money to be received today and money to be received in the future? A. When idle money can earn a positive return. B. When there is no risk of nonpayment in the future. C. When current interest rates are different from expected future rates. D. A period of recession. 6) As the time period until receipt increases, the present value of an amount at a fixed interest rate A. remains the same. B. increases. C. Not enough information to tell. D. decreases. 7) To save for her newborn son's college education, Lea Wilson will invest $1,000 at the beginning of each year for the next 18 years. The interest rate is 12 percent. What is the future value? A. $34,931. B. $63,440. C. $55,750. D. $7,690. 8) Mr. Nailor invests $5,000 in a money market account at his local bank. He receives annual interest of 8% for 7 years. How much return will his investment earn during this time period? A. $3,570 B. $6,254 C. $8,570 D. $2,915 3) Which of the following is the largest category of asset-backed securities? A. Automobile Loans B. Home Equity Loans C. Manufactured Housing Loans D. Student Loans 1) Commercial paper that is sold without the use of an actual paper certificate is known as A. dealer paper. B. finance paper. C. term paper. D. book-entry paper. 5) Sharon Smith will receive $1 million in 50 years. The discount rate is 14%. As an alternative, she can receive $2,000 today. Which should she choose? A. $2,000 today. B. the $1 million dollars in 50 years. C. need more information. D. she should be indifferent 8) Kathy has $60,000 to invest today and would like to determine whether it is realistic for her to achieve her goal of buying a home for $150,000 in 10 years with this investment. What return must she achieve in order to buy her home in 10 years? A. between 8% and 9% B. between 7% and 8% C. between 10% and 11% D. between 9% and 10%

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Business - General Business GM533 Week 1 Checkpoint 1. Question : Consider the following data on distances traveled by people to visit the local amusement park and calculate the relative frequency for the shortest distance. 375 .150 .500 .300 .333 2. Question : The following is a relative frequency distribution of grades in an introductory statistics course. If this was the distribution of 200 students, find the frequency of failures: 12 6 23 46 3 3. Question : A random sample of 12 joggers was asked to keep track and report the number of miles they ran last week. The responses are: 5.5 7.2 1.6 22.0 8.7 2.8 5.3 3.4 12.5 18.6 8.3 6.6 Compute the three statistics that measure central location. Mean: 6.9, Median: 8.54 Mean: 6.9, Median: 9.64 Mean: 8.54, Median: 6.9 Mean: 7.2, Median: 8.12 Mean: 7.8, Median: 8.34 4. Question : In order to get maintain a 80% minimum, Sara needs to earn at least a “B” in Statistics. A “B” is defines as a mean test grade of 80 or more. Below are Sara’s test grades for the course. 56 62 69 82 91 93 98 Sara has one more test to complete, for a total of eight test grades for the course. What score must Sara achieve on the remaining test to attain a “B” in the Statistics? 89 91 99 85 94 5. Question : In order to control costs, a company wishes to study the amount of money its sales force spends entertaining clients. The following is a random sample of six entertainment expenses (dinner costs for four people) from expense reports submitted by numbers of the sales force. $157 $132 $ 109 $145 $125 $139 Calculate Mean, Variance, and Standard Deviation. Assuming that the distribution on entertainment expenses is approximately normally distributed, calculate estimate of tolerances interval containing 95.44%. [117.87, 151.13] [101.23, 167.77] [ 84.6, 184.40] [117.87, 167.77] [84.6, 151.13] 6. Question : Compute and interpret the Z-score for the $157 entertainment expense. (Reminder: the six entertainment expenses were: $157 $132 $ 109 $145 $125 $139) 0.35 -2.35 2.35 1.35 -1.35 7. Question : Calculate the first, second, third Quartiles and IQR of the following data: 10.5 14.7 15.3 17.7 15.9 12.2 10 14.1 13.9 18.5 13.9 15.1 14.7 Q1: 13.9, Q2: 14.7, Q3: 15.3, IQR: 1.40 Q1: 12.1, Q2: 14.3, Q3: 16.1, IQR: 4.00 Q1: 13.1, Q2: 14.0, Q3: 16.3, IQR: 3.20 Q1: 12.6, Q2: 14.8, Q3: 15.7, IQR: 3.10 Q1: 11.9, Q2: 13.7, Q3: 16.3, IQR: 2.45 8. Question : The following table shows the Price-to-Earnings ratio for a Stereo equipment manufacturing company between 1998 and 2002. Determine the percentage change in the P/E ratios from 1999 to 2000. 33.97% 31.53% 27.26% -31.53% -23.97% 9. Question : According to a survey of the top 10 employers in a major city in the Midwest, a worker spends an average of 413 minutes a day on the job. Suppose the standard deviation is 26.8 minutes and the time spent is approximately a normal distribution. What are the times that approximately 68.26% of all workers will fall? [332.6, 493.4] [386.2, 493.4] [312.6, 539.8] [346.2, 419.8] [386.2, 439.8] 10. Question : According to a survey of the top 10 employers in a major city in the Midwest, a worker spends an average of 413 minutes a day on the job. Suppose the standard deviation is 26.8 minutes and the time spent is approximately a normal distribution. What are the times that approximately 99.73% of all workers will fall? [332.6, 493.4] [386.2, 493.4] [312.6, 539.8] [346.2, 419.8] [386.2, 439.8] GM533 Week 2 Checkpoint 1. Question : Employees of a local university have been classified according to gender and job type. If an employee is selected at random what is the probability that the employee is male? .667 .367 .333 .500 .917 2. Question : Employees of a local university have been classified according to gender and job type. If an employee is selected at random what is the probability that the employee is female given that the employee is a salaried member of staff? .167 .500 .625 .267 .375 3. Question : Joe is considering pursuing an MBA degree. He has applied to two different universities. The acceptance rate for applicants with similar qualifications is 25% for University A and 40% for University B. What is the probability that Joe will not be accepted at either university? 0.75 0.45 0.90 0.65 0.60 4. Question : In a report on high school graduation, it was stated that 85% of high school students graduate. Suppose 3 high school students are randomly selected from different schools. What is the probability that all graduate? 0.85 0.947 0.614 0.283 0.003 5. Question : A pharmaceutical company has determined that if a new cholesterol-reducing drug is manufactured (introduced to the market), the following probability distribution will describe this drug's contribution to the company's profits during the next six months. The company management has decided to market this product if the expected contribution to profit for the next six months is more than $90,000. Based on the information given above, should the company begin manufacturing the new drug? Yes, begin manufacturing No, don't begin manufacturing 6. Question : A large disaster cleaning company estimates that 30% of the jobs it bids on are finished within the bid time. Looking at a random sample of 8 jobs that is has contracted: Calculate the mean number of jobs completed within the bid time. 4.0 2.4 2.0 5.6 7. Question : Your company's internal auditor believes that 10% of the company's invoices contain errors. To check this theory, 20 invoices are randomly selected and 5 are found to have errors. What is the probability that of the 20 invoices written, five or more would contain errors if the theory is valid? .0433 .0319 .9567 .8660 8. Question : An important part of the customer service responsibilities of a cable company relates to the speed with which trouble in service can be repaired. Historically, the data show that the likelihood is 0.75 that troubles in a residential service can be repaired on the same day. For the first five troubles reported on a given day, what is the probability that: Fewer than two troubles will be repaired on the same day? .6328 .0010 .0156 .0146 9. Question : In a study conducted by a local university, it was found that 25% of college freshmen support increased military spending. If 6 college freshmen are randomly selected, find the probability that: Fewer than 4 support increased military spending .0330 .7844 .9624 .9954 10. Question : A multiple-choice test has 30 questions and each one has five possible answers, of which one is correct. If all answers were guesses, find the probability of getting exactly four correct answers. .0604 .1325 .2552 .8000 GM533 Week 3 Checkpoint 1. Question : The population of lengths of aluminum-coated steel sheets is normally distributed with a mean of 30.05 inches and a standard deviation of 0.2 inches. What is the probability that a sheet selected at random will be less than 29.75 inches long? .8944 .1056 .9332 .066 2. Question : The population of lengths of aluminum-coated steel sheets is normally distributed with a mean of 30.05 inches and a standard deviation of 0.2 inches. What is the probability that a sheet selected at random from the population is between 29.75 and 30.5 inches long? .4332 .4878 .0546 .9210 3. Question : During the past six months, 73.2% of US households purchased sugar. Assume that these expenditures are approximately normally distributed with a mean of $8.22 and a standard deviation of $1.10. Find the probability that a household spent less than $5.00. .9983 0.000 1.00 0.0017 4. Question : During the past six months, 73.2% of US households purchased sugar. Assume that these expenditures are approximately normally distributed with a mean of $8.22 and a standard deviation of $1.10. What proportion of the households spent between $5.00 and $9.00? .7611 .7628 .0017 .7594 5. Question : The population of lengths of aluminum-coated steel sheets is normally distributed with a mean of 30.05 inches and a standard deviation of 0.2 inches. A sample of four metal sheets is randomly selected from a batch. What is the probability that the average length of a sheet is between 30.25 and 30.35 inches long? .9773 .0227 .0386 .0215 6. Question : The chief chemist for a major oil/gasoline production company claims that the regular unleaded gasoline produced by the company contains on average 4 ounces of a certain ingredient. The chemist further states that the distribution of this ingredient per gallon of regular unleaded gasoline is normal and has a standard deviation of 1.2 ounces. What is the probability of finding an average in excess of 4.3 ounces of this ingredient from randomly inspected 100 gallons of regular unleaded gasoline? .5987 .4013 .9938 .0062 7. Question : In the upcoming governor's election, the most recent poll based on 900 respondents predicts that the incumbent will be reelected with 55% of the votes. For the sake of argument, assume that 51% of the actual voters in the state support the incumbent governor (). Calculate the probability of observing a sample proportion of voters 0.55 or higher supporting the incumbent governor. .0166 .0247 .0082 .9918 8. Question : According to a hospital administrator, historical records over the past 10 years have shown that 20% of the major surgery patients are dissatisfied with after-surgery care in the hospital. A scientific poll based on 400 hospital patients has just been conducted. What is the probability that less than 64 patients will not be satisfied with the after-surgery care? 47.72% 2.28% 97.72% 95.44% 4.56% GM533 Week 4 Checkpoint 1. Question : An environmental group at a local college is conducting independent tests to determine the distance a particular make of automobile will travel while consuming only 1 gallon of gas. A sample of five cars is tested and a mean of 28.2 miles is obtained. Assuming that the sample standard deviation is 2.7 miles, find the 95% confidence interval for the mean distance traveled by all such cars using 1 gallon of gas. [26.16 30.24] [20.70 35.70] [24.85 31.55] [26.70 29.70] [25.83 30.57] 2. Question : A random sample of size 30 from a normal population yields = 32.8 with a population standard deviation of 4.51. Construct a 95 percent confidence interval for . [23.96 41.64] [32.04 33.56] [31.45 34.15] [31.19 34.41] 3. Question : In a manufacturing process a random sample of 36 bolts manufactured has a mean length of 3 inches with a standard deviation of .3 inches. What is the 99% confidence interval for the true mean length of the bolt? 2.902 to 3.098 2.884 to 3.117 2.865 to 3.136 2.228 to 3.772 2.465 to 3.205 4. Question : A federal bank examiner is interested in estimating the mean outstanding defaulted loans balance of all defaulted loans over the last three years. A random sample of 20 defaulted loans yielded a mean of $67,918 with a standard deviation of $16,552.40. Calculate a 90% confidence interval for the mean balance of defaulted loans over the past three years. [66,487 69,349] [39,299 96,537] [57,329 78,507] [61,829 74,007] [61,519 74,317] 5. Question : Unoccupied seats on flights cause airlines to lose revenue. Suppose a large airline wants to estimate its average number of unoccupied seats per flight over the past year. 225 flight records are randomly selected and the number of unoccupied seats is noted with a sample mean of 11.6 seats and a standard deviation of 4.1 seats. How many flights should we select if we wish to estimate  to within 2 seats and be 95% confident? 130 65 33 17 12 6. Question : The coffee/soup machine at the local bus station is supposed to fill cups with 6 ounces of soup. Ten cups of soup are brought with results of a mean of 5.93 ounces and a standard deviation of 0.13 ounces. How large a sample of soups would we need to be 95% confident that the sample mean is within 0.03 ounces of the population mean? 97 90 73 62 10 7. Question : Recently, a case of food poisoning was traced to a particular restaurant chain. The source was identified and corrective actions were taken to make sure that the food poisoning would not reoccur. Despite the response from the restaurant chain, many consumers refused to visit the restaurant for some time after the event. A survey was conducted three months after the food poisoning occurred with a sample of 319 patrons contacted. Of the 319 contacted, 29 indicated that they would not go back to the restaurant because of the potential for food poisoning Construct a 95% confidence interval for the true proportion of the market who still refuse to visit any of the restaurants in the chain three months after the event. [.059 .122] [.090 .091] [.000 .196] [.240 .339] [.118 .244] 8. Question : The Ohio Department of Agriculture tested 203 fuel samples across the state in 1999 for accuracy of the reported octane level. For premium grade, 14 out of 105 samples failed (they didn't meet ASTM specification and the FTC Octane posting rule). Find a 99% confidence interval for the true population proportion of premium grade fuel-quality failures. [.045 .221] [.068 .198] [.023 .115] [.048 .219] [.100 .276] 9. Question : Recently, a case of food poisoning was traced to a particular restaurant chain. The source was identified and corrective actions were taken to make sure that the food poisoning would not reoccur. Despite the response from the restaurant chain, many consumers refused to visit the restaurant for some time after the event. A survey was conducted three months after the food poisoning occurred with a sample of 319 patrons contacted. Of the 319 contacted, 29 indicated that they would not go back to the restaurant because of the potential for food poisoning. What sample size would be needed in order to be 99% confident that the sample proportion is within .02 of , the true proportion of customers who refuse to go back to the restaurant? 14 38 129 1,373 1,777 10. Question : The Ohio Department of Agriculture tested 203 fuel samples across the state in 1999 for accuracy of the reported octane level. For premium grade, 14 out of 105 samples failed (they didn't meet ASTM specification and the FTC Octane posting rule). How many samples would be needed to create a 99% confidence interval that is within 0.02 of the true proportion of premium grade fuel-quality failures? 4148 2838 1877 744 54 GM533 Week 5 Checkpoint Complete Exercise 9.13 (The Video Game Satisfaction Case) on page 357 in your textbook. Complete Exercise 9.19 on page 358 in your textbook Complete Exercise 9.29 (The Video Game Satisfaction Rating Case) on page 362 in your textbook. Complete Exercise 9.31 on page 362 in your textbook. Complete Exercise 9.42 on page 367 in your textbook GM533 Week 6 Checkpoint Complete Exercise 13.8 (The Real Estate Case) on page 503 in your textbook Complete Exercise 13.21 (The Starting Salary) on page 511 in your textbook. Complete Exercise 13.30 (The Fuel Consumption Case) on page 518 in your textbook Complete Exercise 13.53 (The Fresh Detergent Case) on page 529 in your textbook

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Try to attend some school sponsored events like football games, etc. Some of the most fun that people have in college is routing for their sporting teams at their college. It is always a great time to get together with your fellow classmates in the student section and scream your head off for your college!