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1. Please explain why you would expect that the intersection of a linear demand curve and a linear supply curve would lie in the first quadrant.

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1. Explain the difference between simple interest and compound interest.
2. What is a set? Give an example.
3. When are two sets equal? Give an example of two equal sets.
4. What is an empty set?
5. Explain the multiplication principle,and provide an example.

1. a. What is a permutation of a set of distinct objects?
2. How many permutations of a set five distinct objects taken three at a time are there?
3. a. How many combinations are there of a set of n distinct objects taken r at a time?
4. How many combinations are there of six distinct objects taken three at a time?
5. Explain what is meant by an experiment. Give an example. For the example you have chosen, describe (a) a sample point, (b) the sample space, and (c) an event of the experiment.

1. Define (a) a probability distributionand (b) a probability function. Give examples of each.

1. What is the probability of an event E in a uniform sample space S?

1. What is conditional probability? Illustrate the concept with an example.

1. What is a random variable? Give an example.

1. What does Chebychev’s inequality measure?

1. 2a. What is the difference between a normal curve and a standard normal curve?
2. If X is a normal random variable with mean and standard deviation, write P (a< X < b) in terms of the probabilities associated with the standard normal random variable Z.
3. 18. What does Theorem 1, page 526 in your textbook, allow us to do? (the book used for this course is Finite Mathematics 11th edition)

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