Ashford mat 126 (survey of mathimatical methods) week 4 dq & quiz a+

Ashford MAT 126 Week 4

The purpose of this Discussion is to analyze a financial plan that portrays a somewhat typical budgeting scheme. You will calculate expenses, a mortgage payment, and the effects of interest and financing on your budget. Show your math work for every answer and identify the answers with words.

1. Select the first three letters of your last name. Each letter has a numerical place value in the alphabet. For example, D is 4, L is 12, and Z is 26. Add the three place values together. For example, Wallace would yield WAL, which is 23+1+12 = 36.  
2. Multiply your sum by 1500. This is your yearly income for Week Four Discussion 1.  
3. Please use the following monthly expenses: Car payment = $283.15, Car insurance = $72, Utilities (includes water and power) = $242.77, Internet = $32, and Cell Phone = $79.95.
4. You also have a yearly educational bill of $7980 which includes textbooks and classes.
5. Calculate your monthly income.  
6. What percent of your monthly income is the car payment?

This Discussion allows you to demonstrate your understanding of the similarities and differences between classical probability and empirical probability.

1. In your own words, describe two main differences between classical and empirical probabilities.
2. Gather coins you find around your home or in your pocket or purse. You will need an even number of coins (any denomination) between 16 and 30. You do not need more than that. Put all of the coins in a small bag or container big enough to allow the coins to be shaken around. Shake the bag well and empty the coins onto a table. Tally up how many heads and tails are showing. Do ten repetitions of this experiment, and record your findings every time.

• State how many coins you have and present your data in a table or chart.
• Consider just your first count of the tossed coins. What is the observed probability of tossing a head? Of tossing a tail? Show the formula you used and reduce the answer to lowest terms.
• Did any of your ten repetitions come out to have exactly the same number of heads and tails?  How many times did this happen?
• How come the answers to the step above are not exactly ½ and ½?
• What kind of probability are you using in this “bag of coins” experiment?
• Compute the average number of heads from the ten trials (add up the number of heads and divide it by 10).
• Change this to the average probability of tossing heads by putting the average number of heads in a fraction over the number of coins you used in your tosses.
• Did anything surprising or unexpected happen in your results for this experiment?

·         Ashford MAT 126 Week 4 Pythagorean Triples Assignment

Asford MAT 126 Week 4 Quiz 20 MCQ’s

·          A single card is drawn from a deck. What is the probability of getting a queen or a king?

·         In a shop there are 20 customers, 18 of whom will make a purchase. If three customers are selected, one at a time, at random, what is the probability that all will make a purchase?

·         A coat was reduced from $250 to $200. Find the percent of the reduction in price.

·         A company borrowed $1500. It must make monthly payments of $40.50 for 42 months to pay off the loan. Use the constant ratio formula to find the annual percentage rate.

·         A $400 loan is to be paid off in 66 monthly payments of $11.62. The borrower decides to pay off the loan after 18 payments. Use the rule of 78s to find the amount of interest saved

·         A single card is drawn from an ordinary 52-card deck. Find the probability of getting a heart and a jack.

·         A company borrowed $3100. It must make monthly payments of $178.37 for 18 months to pay off the loan. Use the constant ratio formula to find the annual percentage rate.

·         A coin is tossed and then a die is rolled. Find the probability of getting a 5 on the die given that the coin landed tails up.

·         Katie had an unpaid balance of $1,734.50 on her credit card statement at the beginning of January. She made a payment of $165.00 during the month. If the interest rate on Katie’s credit card was 7% per month on the unpaid balance, find the finance charge and the new balance on February 1.

·          In a classroom, the students are 11 boys and 1 girl. If one student is selected at random, find the probability that the student is a girl.

·         Express 3.46 as a percent.

·          The odds in favor of an event are 10:1. Find the probability that the event will occur.

·         Find the future value of an annuity if you invest $1,550 annually for 5 years at 11.5% compounded annually.

·         Find the effective rate when the stated rate is 13.5% and the interest is compounded semiannually.