A market survey was conducted to estimate the proportion of homemakers who could recognize the brand name of a cleanser based on the shape and color of the container. Of the 1,400 homemakers, 420 were able to identify the brand name. Using the 0.99 degree of confidence, the population proportion lies within what interval?
Answer(s): B
Interval estimate can be found from p +/- z[p(1-p)/n]^0.5. Here we have n = 1400, p = 414/1400 = 0.3 and z = 2.58 (for 99%).Therefore 0.3 +/- 2.58*0.01225 and we get 0.268 and 0.332.
What annual interest rate, compounded annually, would cause a series of 10 deposits of $500 to accumulate to $9,000, if the first deposit is made one year from today?
Answer(s): A
On the BAII Plus, press 10 N, 0 PV, 500 PMT, 9000 +/- FV, CPT I/Y. On the HP12C, press 10 n, 0 PV, 500 PMT, 9000 CHS FV, i. Make sure the BAII Plus has the P/Y value set to 1.
How much would you need to deposit today in order to be able to withdraw $500 in 2 years and $700 in 4 years, if the account has nothing in it today and interest is 6% per year, compounded annually?
Work this question as two compound interest problems. On the BAII Plus, press 2 N, 6 I/Y, 0 PMT, 500 FV, CPT PV, which yields $445.00. Then press STO 1. Then press 4 N, 700 FV, CPT PV, which yields $554.46.Then press + RCL 1 = to see the answer. On the HP12C, press 2 n, 6 i, 0 PMT, 500 FV, PV. Then press STO1. Then press 4 n, 700 FV, PV. Then press RCL 1 + to see the answer. Note that the answer will be displayed as a negative number.
You have invested in a long-term, fixed deposit account earning 4% per year for 20 years, compoundedannually. Your friend has invested in a similar account but one that earns 4.25% per year, compounded semi- annually. If each of you deposited $5,000, by what amount is your friend wealthier than you due to this deposit?
Answer(s): C
The friend's account has 5,000*(1+0425/2)^40 = 11,595 at the end of 20 years. Your account has 5,000* (1.04^20) = 10,956. The difference is $639.
You are examining a group of 6 companies. Their average profit margins have been 49%, 10%, 5%, 35%, 30%, and 30%. What is the range of profit margins?
The range = the maximum value - the minimum value. Here, we have 49% - 5% = 44%.
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