Data for a statistics

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You are planning to purchase a house that will require some renovations.

1. You will have a $400,000 mortgage for 20 years at the rate of 4.25%. What will your monthly payment be?

2. If you take the full term of the loan, how much interest will you have paid?

3. You decide to do some remodeling. You are looking at borrowing $7500 at the simple interest rate of 2% per year. You want to pay a maximum of $600 interest. How long will the loan need to be to meet this maximum interest of $600.00?

4. If you decide to put a $3000.00 bonus from your employment in a savings account that pays 2% interest compounded monthly, how much interest would you have earned after 4 years?

 

 

 

 

 

 

Part 2

A group of friends start a walking program. The chart below shows each member’s self-reported walking time in January 2022.

Person Minutes Walking in January 2022
YOU 350
B 525
C 400
D 600
E 150
F 550
G 300
H 540
I 425
K 700

Answer the following questions based on this data. Be sure to show all of your work for each question.

1. What was the mean walking time for the group in January 2022? If your answer is a decimal round to the nearest hundredth.

2. By what percent did YOU exceed or fall below the mean in January 2022? Express your answer rounded to the nearest hundredth.

3. What was the median walking time in January 2022?

 

 

 

 

Part 3
Here is data for a statistics class:

Final Grade Women Men
A 6 5
B 7 8
C 4 3
D 2 1
F 0 1

Answer the following questions based on the above data for the math class. Be sure to show all of your work for each question.

1. If one person is randomly chosen to participate in a focus group, what is the probability that the person will be a student who earned an A in the class?

2. A group of 6 students from this class is going to be randomly chosen to test a new video. In how many ways can the 6 students be chosen?

3. What is the probability that the random choice of the 6 students ( from b. above) will result in a group of all women being chosen?

Part 4
For this part, you will find it helpful to use a Venn diagram. You may submit a Venn diagram or thoroughly explain how you reached each answer.

In a math 105 class of 34 students, a survey showed that 20 students used the ALEKS e-text at least once, 7 used a video at least once, and 5 used both the e-text and a video at least once.

1. How many students used only the e-text?

2. How many students used neither the e-text nor the videos at least once?

Sample Solution

how the group are functioning, allowing them to implement policies to change this if performance is unsatisfactory (Pettinger, 2007). Within organisations, the theory can be loosely applied to creating teams by grouping familiar individuals with the aim that they will reach the norming and performing stage of the model quicker. For short and simple tasks this is an extremely effective way of organising groups, due to the increased short term productivity. However there are significant issues with grouping individuals in this manner, particularly when tasks become more complex, and ultimately the model should mainly be used for monitoring the progress of groups (Pettinger, 2007). Figure 3: Belbin’s Team Roles (PrePearl Training Development, 2019) A more functional approach of grouping individuals is to utilise Belbin’s Team Theory (Belbin, 2017). Belbin identifies 9 key roles that must be fulfilled within a group to ensure success, the roles are summarised in Figure 3. The roles cover a wide spectrum of skills that need to be present within a group to ensure success, and becomes essential when tasks are lengthy and complex. Organisations can find the Belbin roles each individual fits through a questionnaire, and thus balanced groups can be formed covering all the roles. However, like with Fiedler’s contingency model, the theory when translated to practice can often become very impractical for organisations to implement regularly. This is largely because the organisation is constrained by the personalities of their employees, their may be an abundance of one personality type and an absence of another, the only solution is to hire externally to fill the missing roles within teams. This can result in an extensive payroll for an organisation and huge financial implications as they cannot legally dismiss employee’s if they have too many of one personality type. The importance of Belbin roles in a team became apparent for Group 1 on the first day of the outdoor management course, the group had 5 people who filled the completer finisher and implementor roles, however had no-one filling the resource investigator or monitor evaluator role, the group ran out of time and did not complete the task successfully. Obviously running out of time was not the sole cause of the groups failure, however if someone had been monitoring time and performance then the

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