Concept explainers
In Exercises 1-10, use
Round answers to the nearest dollar.
Suppose that you are buying a car for $56,000, including taxes and license fees. You saved $8000 for a down payment. The dealer is offering too two incentives:
Incentive A is $10,000 off the price of the car, followed by a five-year loan at 7.34%.
Incentive B does not have a cash rebate, but provides free financing (no interest) over five years.
What is the difference in monthly payments between the two offers? Which incentive is the better deal?
Want to see the full answer?
Check out a sample textbook solutionChapter 8 Solutions
THINKING MATHEMATICALLY (LL)-W/MATHXL
- The trend in home building in recent years has been to emphasize open spaces and great rooms, rather than smaller living rooms and family rooms. A builder of speculative homes in the college community of Oxford, Ohio, had been building such homes, but his homes had been taking many months to sell and had been selling for substantially less than the asking price. In order to determine what types of homes would attract residents of the community, the builder contacted a statistician at a local college. The statistician went to a local real estate agency and obtained the data contained in file OxHome. This data includes the sales price (measured in thousand dollars), square footage, number of rooms, number of bedrooms, and age for each of 60 single-family residences recently sold in the community. Using this data, a regression model was built to predict the sales price of houses in this community. The regression equation from the model is: sales price (thousand dollars) = 19.5 + 0.1079…arrow_forwardA certain organization is deciding between increasing salaries according to the previous year's CPI or receiving a year-end bonus of $150,000. Last year's CPI was 1.64%. a.- If a person receives a salary of $800,000, which alternative seems better? b.- If a person receives a salary of $500,000, which alternative seems better?arrow_forwardMpho is a mathematics teacher who likes giving incentives to her learners, for goodperformance. On a particular day, she has R252 which must be divided among Thato,Tshepo and Kagiso, in a ratio of 4:3:2 respectively.3.1.1. Calculate the amount that each of the three learners will receive. (6)3.1.2. Prove that all the money will be used up after all three learners received theirshare. (2)3.1.3. Explain why Kagiso received half of the amount Thato did.arrow_forward
- Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed within an average time of 14 minutes or less. If more time is required, a premium rate is charged. I need help with 3 and 4.arrow_forward2) A poll commissioned by a politician estimates that t days after he makes a statement denegrating women, the percentage of his constituency those who support him at the time he made the statement that still supports him is given by S(t) = 75(t2 - 3t + 25) ÷ t2 + 3t + 25 (iii) What was his minimum support level?(iv) Was the approval rate positive or negative on the date of the election?arrow_forwardMr. Jones has $7,000 to invest in three types of stocks, low-risk, medium-risk, and high-risk. He invests according to three principles. The amount invested in low-risk stocks will be at most $3,000 more than the amount invested in medium-risk stocks. At least $5,000 will be invested in low and medium-risk stocks. No more than $5,000 will be invested in medium and high-risk stocks. The expected yields are 6% for low-risk stocks, 7% for medium-risk stocks, and 8% for high-risk stocks. How much money should Mr. Jones invest in each type of stock to maximize his total expected yield?arrow_forward
- 2. What is the AP weight of 2 # 6 oz of peeled turnips if their yield percentage is 88%? 3. How many ounces of trimmed asparagus can you expect to get out of 1 # of purchased asparagus, if the yield percentage of asparagus is 79%? 4. What is the edible portion cost per pound for diced zucchini that costs $0.75/# and has an 86% yield? 5. What is the AP cost per pound for a butternut squash that has a 63% yield and an EP cost of $0.14/oz? 6. What is the EP cost per pound for lentils that require no precooking preparation and have an AP cost of $0.78/#? What is their yield percentage? 7. You paid $21.35 for 20 # of beets. After peeling and slicing, you have exactly 17 # of beet left. What is the EP cost per pound for the prepped beets?arrow_forwardSTATE: A high‑school teacher in a low‑income urban school in Worcester, Massachusetts, used cash incentives to encourage learning in his AP Statistics class. In 2010, 1515 of the 6161 students enrolled in his class scored a 55 on the AP Statistics exam. Worldwide, the proportion of students who scored a 55 in 2010 was 0.15.0.15. Is this evidence that the proportion of students who would score a 55 on the AP Statistics exam when taught by the teacher in Worcester using cash incentives is higher than the worldwide proportion of 0.15?of 0.15? SOLVE: Find the sample proportion. Give your answer to four decimal places. ?̂ = Find the test statistic ?. Give your answer to two decimal places. ?= Find the ?-valueP-value associated with the ?z statistic. Give your answer to four decimal places. ?-value:arrow_forwardWhen hired at a new job selling jewelry, you are given two pay options:Option A: Base salary of $14,000 a year, with a commission of 10% of your salesOption B: Base salary of $17,000 a year, with a commission of 3% of your salesIn order for option A to produce a larger income, you would need sell at least $ of jewelry each year.arrow_forward
- On average, 275 customers arrive per hour at a huge branch of a Bank. It takes an average of two minutes to serve each customer. It costs $15 per hour to keep a teller window open, and the bank estimates that it will lost $50 in future profits for each hour that a customer waits in line. How many teller windows should the Bank keep open? 11 12 13 14arrow_forward1.At what price should the company sell their product if they wish to make as much revenue as possible? How much revenue will they make?arrow_forwardV1. Suppose Sally has a choice to undertake a risky job for a salary of $69828. She could choose to take a safe job for a salary of $62841. She decided to take the risky job. Assuming Sally has a 1 in 601 chance of dying at the risky job then using the trade-off method, she values her life at:arrow_forward
- Discrete Mathematics and Its Applications ( 8th I...MathISBN:9781259676512Author:Kenneth H RosenPublisher:McGraw-Hill EducationMathematics for Elementary Teachers with Activiti...MathISBN:9780134392790Author:Beckmann, SybillaPublisher:PEARSON
- Thinking Mathematically (7th Edition)MathISBN:9780134683713Author:Robert F. BlitzerPublisher:PEARSONDiscrete Mathematics With ApplicationsMathISBN:9781337694193Author:EPP, Susanna S.Publisher:Cengage Learning,Pathways To Math Literacy (looseleaf)MathISBN:9781259985607Author:David Sobecki Professor, Brian A. MercerPublisher:McGraw-Hill Education