Statistics Expert Answers / Study Resources

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Find (a) the gross profit, (b) the net income before taxes, and (c) the net income after taxes. 1) MidState Machinery has a cost of goods sold of $90,000 operating expenses of $66,000 taxes of $9,000 and.

Find the first year's depreciation using the sum-of-the-years'-digits method of depreciation. Round to the nearest dollar. 31) A) $8,750 B) $15,556 C) $61,250 D) $54,444 Find the book value to the nearest dollar. 32) Cost $2,890, life 7 years, scrap value $231 at the end of 1 year, sum-of-the-years'-digits method A) $ 2,064 B) $ 2,510 C) $ 2,225 D) $.

Solve the problem. 21) On April 1, the unpaid balance in an account was $ 232. A payment of $ 50 was made on April 13. On April 17 a $ 17 purchase was made. The finance charge rate was 1.75% per month of the average daily balance. Find the new.

Find the PE ratio. Round to the nearest whole number. 51) Stock: Hechinger Current Price per Share: $ 16.68 Annual Net Earnings per Share: $ 1.20   A) 14 B) 16 C) 12 D) 15 52) Stock: Waverly Current Price per Share: $ 30.50 Annual Net Earnings per Share: $ 0.41   A) 74 B) 61 C) 21 D) 78 Stock prices on consecutive days for a stock are shown. Find the increase.

Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022. 61) Date when bonds must be paid off by Solar Energy A) June 15, 2022 B) December 15, 2022 C) June 15, 2018 D) December 15, 2018 62) Annual interest paid A) $48.00 B) $57.50 C) $5.75 D) $575.00 63) Last yield or.

Find the indicated tax rate. 11) Percent      Per $1000 5.14% A) $ 5.14 B) $ 51.40 C) 51.4 D) $ 0.51 12) Percent      In Mills 7.43% A) $ 74.30 B) 7.43 C) 74.3 D) $ 0.74 Find the property tax. Round to the nearest cent. 13) Assessed Valuation: $50,400 Tax rate: $1.20per $100 A) $ 42,000.00 B) $ 604.80 C) $ 60.48 D) $ 4,200.00 14) Assessed Valuation: $82,400 Tax rate: $7.00per.

Find the book value to the nearest dollar. 21) Cost $7,030, life 2 years, scrap value $633 at the end of 1 year using double-declining balance method A) $ 633 B) $ 0 C) $ 3,515 D) $ 3,832 22) Cost $ 8,080, life 5 years, scrap value $ 808 at the end of 2 years.

Find the first year's depreciation using the MACRS method of depreciation and the MACRS depreciation rates table. Round to the nearest dollar. MACRS Depreciation Rates 61) Cost: $402,500 Period: 27.5-year   A) $ 14,027 B) $ 14,611 C) $ 1,402,713 D) $ 15,094 Find the book value using the MACRS method of depreciation and the MACRS depreciation rates table. Round to.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Find the finance charge on the revolving charge account. Assume interest is calculated on the unpaid balance of the account. Round to the nearest cent. 1) Unpaid Balance Monthly Interest Rate $ 345.701 2/5% A) $ 4.84 B) $ 4.15 C).

Solve the problem. Use the approximate APR formula to estimate the APR, and round rates to the nearest tenth of a percent. 41) Eddie Hodges buys a complete stereo with CD for $980, paying it off at $46.19 per month for 2 years. What is the approximate APR of the loan? A).

SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Complete the balance sheet using vertical analysis. Round to the nearest tenth of a percent. 30)         .

Find the approximate annual percentage rate using the approximate annual percentage rate formula. Round to the nearest tenth of a percent. 31) Amount financed: $17,200 Finance charge: $3,546 Number of monthly payments: 48   A) 5.0% B) 20.6% C) 39.6% D) 10.1% 32) Amount financed: $315 Finance charge: $26 Number of monthly payments: 12 A) 15.2% B) 7.9% C) 18.0% D) 9.0% 33) Amount financed: $403 Finance charge: $50 Number.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Complete the horizontal analysis for the comparative income statement. Round to the nearest tenth of a percent. 17) A) 13.8%, 60.0%, 13.7%, 11.3%, 18.8%, 16.4%, 19.1% B) 12.1%, 37.5%, 12.0%, 10.1%, 15.8%, 14.1%, 16.1% C) 7.2%, -140.0%, 7.0%, 1.5%, -2.1%,.

Find the weighted mean. Round to the nearest tenth. 59) A) 54.2 B) 307.7 C) 253.2 D) 230.1 60) A) 22.3 B) 23.6 C) 7.2 D) 26.0 61) A) 247.3 B) 91.1 C) 321.3 D) 285.6 Find the grade point average for the following student. Assume A = 4, B = 3, C = 2, D = 1, and F = 0. Round answer to the.

Use the MACRS depreciation rates table to find the recovery percent (rate), given the recovery year and recovery period. MACRS Depreciation Rates 51) Recovery year: 5 Recovery period: 5-year   A) 8.93% B) 12.49% C) 11.52% D) 7.41% 52) Recovery year: 5 Recovery period: 10-year   A) 8.93% B) 9.22% C) 11.52% D) 5.713% 53) Recovery year: 9 Recovery period: 20-year   A) 4.461% B) 3.637% C) 4.522% D) 4.462% 54) Recovery year: 8 Recovery period: 27.5-year   A) 6.177% B) 3.636% C) 3.637% D) 1.818% Find the.

Prepare a vertical analysis. Round percents to the nearest tenth of a percent. 11) Rosie's Cleaning Service had a cost of goods sold of $ 48,000, operating expenses of $ 218,000, and net sales of $ 365,000. A) Percent cost of goods sold = 13.2% Percent operating expenses = 59.7% B) Percent cost of.

This frequency table gives the distribution of ages of 100 people in a small town. How many people are: 29) More than 40 years of age A) 42 B) 14 C) 28 D) No answer possible 30) Less than 30 years of age A) 36 B) 22 C) 29 D) 18 31) 10 years of age or older but less than 40.

Solve the problem. 91) A pipe fell off a moving truck into the path of the car behind it. The driver and passenger were each awarded $37,000 by the court and damage to the car was $17,000 The truck driver had 25/50 liability insurance limits and $10,000 property damage limits. Find.

Find the payment necessary to amortize the loan using the amortization table. Round to the nearest cent. 71) $6,500, 12% compounded monthly, 33 monthly payments A) $ 226.46 B) $ 238.36 C) $ 37.79 D) $ 232.25 72) Marge and Tom Martin bought a new car for $30,000. They agreed to pay 25%.

Find the depreciation per unit. Round to the nearest cent. 41) Cost: $19,000 Salvage: $1,900 Est. Life: 220,000 miles   A) $ 0.80 B) $ 0.08 C) $ 0.90 D) $ 0.09 42) Cost: $7,000 Salvage: $350 Est. Life: 200,000 copies   A) $ 0.40 B) $ 0.30 C) $ 0.03 D) $ 0.04 Find the annual amount of depreciation using the units-of-production method. Round to the nearest dollar. 43) Depreciation per unit: $0.36 Units of.

Find the total monthly payment including taxes and insurance for the loan. Round to the nearest cent. 97) Amount of loan: $79,000 Interest rate: 7 1/2% Term of loan: 20 years Annual taxes: $1,539 Annual insurance: $538   A) $ 636.74 B) $ 905.41 C) $ 809.82 D) $ 785.33 98) Amount of loan: $66,500 Interest rate: 7% Term of loan: 15 years Annual taxes: $1,258 Annual insurance: $340   A) $ 731.00 B).

Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest cent. 31) $8,300, money earns 12% compounded monthly, 2 years A) $307.68 B) $654.46 C) $3,915.11 D) $4,129.33 Solve the application problem. Round to the nearest cent. 32) Find the amount of each payment into a sinking.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. The bar graph shows the percent of income spent on leisure activities in various countries of the world. Use the graph to answer the question. 9) What were the sales in month 8 of 2010? A) $ 66,000 B).

Find the tax in the following application problems. Use $4050 for each personal deduction, a standard deduction of $6300 for single taxpayers, $12,600 for married taxpayers filing jointly, $6300 for married taxpayers filing separately, and $9300 for head of household and the tax rate schedule. 41) Mark Collins had an adjusted gross income.

Solve the following circle graph problems. 39) If rent is represented by 54° on a circle graph showing all expenses, and the cost of rent is $765, how much are the total expenses? A) $ 4,590 B) $ 6,120 C) $ 6,375 D) $ 5,100 40) If savings are represented by 45° on a circle graph.

Find the annual premium in territory 1. 81) Operator age: 20 Comprehensive/Collision Age Group: 4 Driver's ed: yes Symbol: 7 Liability: 15/30 Property: $10,000 Uninsured motorist: no   A) $475.00 B) $1116.25 C) $541.00 D) $1401.25 82) Operator age: 59 Comprehensive/Collision Age Group: 1 Driver's ed: yes Symbol: 7 Liability: 100/300 Property: $50,000 Uninsured motorist: yes   A) $608.00 B) $1179.50 C) $674.00 D) $1044.70 83) Operator age: 22 Comprehensive/Collision Age Group: 4 Driver's ed: no Symbol: 7 Liability: 25/50 Property: $10,000 Uninsured motorist: no   A) $1029.00 B) $1445.50 C) $1176.00 D) $1151.50 84) Operator age: 26 Comprehensive/Collision Age Group: 5 Driver's ed: yes Symbol: 7 Liability: 50/100 Property: $25,000 Uninsured motorist: yes   A) $592.00 B) $917.60 C) $526.00 D) $1036.00 85) Operator age: 62 Comprehensive/Collision Age.

Find the amount of the annuity due rounded to the nearest cent. 11) Amount of Each Deposit Deposited Rate Time (Years) $6300 Quarterly 6% 4   A) $ 98,797.47 B) $ 29,213.69 C) $ 106,673.93 D) $ 114,668.57 Solve the problem. 12) If Bob deposits $5000 at the end of each year for 6 years in an account paying 8% interest compounded annually, find the amount.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Find the amount of the ordinary annuity rounded to the nearest cent. 1) Amount of Each Deposit Deposited Rate Time (Years) $1100 annually 6% 17   A) $ 31,034.17 B) $ 28,239.78 C) $ 46,573.11 D) $ 49,367.50 2) Amount of Each Deposit Deposited Rate Time (Years) $3200 annually 10% 7   A) $ 56,689.95 B) $ 30,358.94 C) $ 62,358.95 D) $ 24,689.95 3) Amount.

Find the balance due on the maturity date of the note. Find the total amount of interest paid on the note. Use the United States Rule. 51) Principal: $60,000 Interest: 10% Time (days): 180 Partial payment: $20,000 on day 60   $20,000 on day 120   A) $24,022.42; $4022.42 B) $23,866.67; $3866.67 C) $22,044.72; $2044.72 D) $21,652.18; $1652.18 52) Principal: $32,148 Interest: 11% Time (days): 220 Partial payment: $10,000 on day.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Find the annual straight-line rate of depreciation for the estimated life. 1) 6 years A) 16.7% B) 6% C) 8.3% D) 1.7% 2) 30 years A) 3.3% B) 0.3% C) 30% D) 1.7% Find the annual amount of depreciation using the straight-line method. Round to the nearest.

Find the amount of taxable income and the tax owed for the following people. The letter following the name indicates the marital status and all married people are filing jointly. Use $4050 for each personal exemption; $6300 as the standard deduction for single taxpayers, $12,600 for married taxpayers filing jointly, and $9300 for.

Solve the problem. 11) A printing press cost $ 47,100 and has an estimated life of 11 years and a scrap value of $ 5,652. Find the total depreciation at the end of 2 years using the straight-line method. Round to nearest dollar. A) $ 7,536 B) $ 38,536 C) $ 39,564 D) $ 43,332 12).

Make a line graph using the given frequencies. 19)   A) B) C) D) None of the above 20)   A) B) C) D) None of the above 21) The ages of employees of a company are summarized in the frequency table.   A) B) C) D) None of the above 22) A medical research team studied the ages of patients who had strokes caused by stress. The results.

Find the ratio of net income after taxes to average owner's equity. Round to the nearest tenth of a percent. 41) Owner's equity at beginning of year: $ 614,000. Owner's equity at end of year: $ 2,058,000. Net income after taxes: $ 316,500. A) 23.7% B) 51.6% C) 51.5% D) 15.4% 42) Owner's equity at beginning.

SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Answer the following. Round all numbers to the nearest dollar. 1) Helena is a college student. She works part-time as a barista and earns about $325 a week after taxes, including tips. She has a scholarship.

Find the mean. Round to the nearest tenth unless otherwise stated. 49) Number of days spent working out in a month: 14, 11, 6, 19, 18, 4, 13, 3 A) 10 B) 12.6 C) 11 D) 17 50) Retirement ages of teachers: 51, 63, 64, 56, 67, 58, 68, 53, 57 A) 58 B) 59.7 C) 59 D) 58.4 51) Scores.

Solve the problem using the loan payoff table or an amortization table. 81) A new fax machine cost Miller Ltd. $2,759. They are to pay it off in 18 months at 8% interest. What will each monthly payment be, and how much interest will they pay on the loan? A) $ 164.44,.

Find the amount paid by each of the multiple carriers. 71) The Dixie Beer Company had an insured fire loss of $ 61,000. It had insurance coverage as follows: Company A, $500,000; Company B, $200,000; and Company C, $100,000. Find the amount paid by each carrier assuming that the coinsurance requirement.

Solve the problem. 21) A taxpayer's property has a market value of $117,000. The rate of assessment in the area is 30%. The tax rate is $7.55 per $100 of assessed valuation. Find the property tax. A) $ 883,350.00 B) $ 2,650.05 C) $ 8,833.50 D) $ 265,005.00 22) A taxpayer's property has a fair market.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Complete the horizontal analysis for the balance sheet. Round to the nearest tenth of a percent. 31) A) 71.9%, 77.8%, 92.2%, 80.0%, 82.9%, 75.5%, 81.9% B) 28.1%, 22.2%, 7.8%, 20.0%, 17.1%, 24.5%, 18.1% C) 39.0%, 28.6%, 8.4%, 25.0%, 20.7%, 32.4%,.

SCENARIO 2-1 An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance. A representative from a local insurance agency selected a random sample of insured drivers and recorded, X, the number of claims each made in the last 3 years, with the.

Find the total annual premium. Use the fire insurance rate table. Rates are for each $100 of insurance. 51) Area Rating: 2 Building Classification: C Building Value: $ 512,000 Contents Value: $ 101,600   A) $ 4,388.64 B) $ 3,526.80 C) $ 2,862.80 D) $ 4,038.40 Find the amount to be paid by the insurance company. Assume the policy includes an 80% coinsurance clause..

Solve the problem. 61) The Smith's addition to their house is going to cost $23,150. On March 2 they sign a note at 9.5% interest due in 200 days. They make a partial payment on April 30 of $8000. What is the amount due on the maturity date? What is the.

Solve the problem. Use the fire insurance rate table if needed. Rates are for each $100 of insurance. Round to the nearest dollar. 61) SLM Instruments owns a class B building with a replacement cost of $60.,000 Contents are valued at $302,000 The area is rated 3. Find the fire insurance.

Solve the application problem. Round to the nearest cent. 21) Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 17 years. Assume that money can be deposited at 10% per year compounded annually. What exact.

Find the requested value using the given stock table. 41) High for the year for CompuStrateg (CPS) A) $33.57 B) $15.38 C) $9.77 D) $17.49 42) Closing price for CommercialAir (CMA) A) $12.54 B) $38.42 C) $31.68 D) $1.28 43) Low for the year for ComputerSolns (CSL) A) $80.11 B) $39.76 C) $1.42 D) $83.23 44) Change from previous week for CommSource (CSC) A) $0.23 B) $23 C) $2.30 D).

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Find the assessed value for the property. 1) Fair market value: $87,000 Rate of assessment: 80%   A) $ 69,600 B) $ 34,800 C) $ 696,000 D) $ 17,400 2) Fair market value: $159,000 Rate of assessment: 40%   A) $ 95,400 B) $ 636,000 C) $ 31,800 D) $ 63,600 3) Fair market value: $189,000 Rate.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Use the real estate amortization table to find the monthly payment for the loan. 87) What is the monthly payment on a 15-year loan of $93,900 if the annual interest rate is 7%? A) $ 870.45 B) $.

Find the finance charge for the following revolving charge account. Assume that interest is calculated on the average daily balance of the account. 11) Average Daily Balance Monthly Interest Rate $1,767.50 1.3%   A) $229.78 B) $24.75 C) $22.98 D) $21.21 12) Average Daily Balance Monthly Interest Rate $774.80 1 1/2%   A) $13.56 B) $9.69 C) $116.22 D) $11.62 13) Average Daily.

Find the median. 69) Number of customers: 277, 399, 146, 451, 149, 226 A) 226 B) 235.5 C) 277 D) 251.5 70) Number of orders: 6, 4, 25, 10, 28, 40, 36, 36 A) 25 B) 28 C) 26.5 D) 23.5 71) Number of calls in queue: 41, 25, 8, 3, 24, 23, 29, 32, 40, 38 A) 26 B) 29 C) 26.5 D) 24 72).