Variability — Cumulative exam Answers

Tara and Levi are trying to decide between homeowners insurance policies offered by two different agencies. AAA Insurance has offered to insure their home for an annual premium of $0.38 per $100 with a $500 deductible. Thompson’s Insurance has offered to insure the same home for an annual premium of $0.26 per $100 with an deductible of $1,000.Insurance CompanyAnnual Premium (per $100)DeductibleAAA Insurance$0.38 $500 Thompson's Insurance$0.26 $1,000 The house Tara and Levi purchased is valued at $425,000. Which of the following statements accurately describes the difference between the two plans?

The frequency distribution chart below represents scores from a math quiz. Which statement best describes the data?

Bernie has decided to purchase a new car with a list price of $18,575. Sales tax in Bernie’s state is 7.40%, and he will be responsible for a $795 vehicle registration fee and a $110 documentation fee. Bernie plans to trade in his existing car, a 1999 Buick Riviera in good condition, and finance the rest of the cost for five years at an interest rate of 12.77%, compounded monthly. Assuming that the dealer gives Bernie the listed trade-in price for his car, what will his monthly payment be? Round all dollar values to the nearest cent.Buick Cars in Good ConditionModel/Year19981999200020012002Century$929$1,086$1,150$1,488$1,595LeSabre$2,075$2,282$2,690$2,935$3,374Regal$1,676$1,794$2,030$2,214$2,566Riviera$1,291$1,455$1,520$1,814$1,959

The scatter plot shows the number of milk cow operations in New Mexico from 1975 to 1995. Write an equation for the line of best fit. Then predict the number of milk cow operations in the year 2005.

Compute the following:

Which of the following statements explains the difference between a lease and a loan?

Which of the following expressions is equal to the total proceeds of a mutual fund?

The following table shows a portion of a three-year amortization schedule. Use the information in the table to decide which of the following statements is true.

Tami would like to withdraw $10,364.10 at the end of each year, for 10 years, from an account paying 2.3% compounded annually. Determine the amount needed in the account for Tami to do this. Round to the nearest cent.

Solve the problem. Round to the nearest cent. Mrs. Stevens wants to have $18,000 in the bank in 3 years. If she deposits $9500 today at 4% compounded quarterly for 3 years, how much additional money will she need to add after three years to her investment to make her balance $18000?