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2) A company makes and sells ping pong paddles. Each paddle costs $2 to produce and sells for $5. The company has fixed daily costs of $210. How many paddles must be made and sold daily to break-even?

~ b) 42 c) 105 d) 350 ~ f) noneofthese

.---30

2 c) q = --p +50

3 b)

1) The demand for the college newspaper is 50 copies if the publisher gives them away for free, but the demand decreases by 30 copies if the price is 20 cents per copy. What is the linear demand equation that models this situation where q represents the number of copies demanded and p represents the price of a copy in cents?

3 a) q=--p-50

2 2 100

d) q=--p-- 3 3

Directions: Select the best answer for each question and record your answer on both the opscan and the test. The opscan will not be returned to you. Your test copy will be your record of which answers you selected; however, your answers on the opscan will be the answers that I grade. Good luck and please ask if you have any questions. Approximate answers have been rounded to the number of places given in the answer choices.

Incorrectly completing the above instructions will result in up to a 4 point deduction from your grade.

• On the opscan, input your UllD, print last name and initials of your first name, then fill in the corresponding dots.

• On your test, print your full name and give your seat number .. • When you are finished, Its very important that you put your answers {the

opscan} in appropriately labeled envelope at the Front of the class. The one Labeled 8 - for the Green Test.

• Your test questions can be taken with you. Check reggienet for your grade and for the exam Key.

Instructions: Seat(~2) __

Name---~-·_.,.~~·· _ Math 120 - Exam 1 - Form B Prunty- spring 2014

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Which of the below statements are true? i) The missing value in the table is -180. iv) The y-intercept is 275 ..

_..-ii) The missing value in the table is -188. v) The y-intercept is -225. iii) The missing value in the table is -172. --.J1i) They-intercept is -2~

a) i and iv b) i and v c) ii and v ~'\ e) iii and iv f) iii and vi g) none of these ~

-160 ? -200 f(x) 75 40 25 x

5} A table of values for a linear function is 9:.:_iv.::_e'..'.._n ~be:.'.1.-:..ow~·:._-----------it

4) A company produces radios which it sells for $33 each. There are fixed costs of $27,000 each month and marginal costs of $15 per radio. How many radios must be produced and sold per month to make a profit of $18,000? --_:.___

a~ b) 600 ~ d) 3000 e) 351,000

flo(.) ;:::- I ~c:>oo X; '"': (/>6l) ::;:! /(Cy_ J - U;X)

,, -7-- 7uo~ = ]3x -- ,( {6 ~· + 'l 7 ~-.J) ( <(Du.:> :=- l '6-X

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3) Janelle owns and operates a store that provides pedicures. The weekly demand q for pedicures is q = - l. 75 p + 120 where p is the price of a pedicure (in $). She is willing to supply q = 2p - 30 pedicures per week at a price of p dollars per pedicure. Find the number of pedicures Janelle will do per week when the market is in equilibrium.

a) 40 b) 18 c) 80 d} 22 % e) 24 @ g) none of these

LI Which statement below is true? ti'"

~O) = 31.25 and that means that at 31.25 months of age approximately 40 % of children can speak in sentences.

1@,P(40) = 97 and that means that. at 40 months of age approximately 97 % of children can speak in sentences.

~( 40) ~ 9 7 and that means that at 97 months of age approximately 40 % of children can speak in sentences.

~(40) = 31.25 and that means that at 40 months of age approximately 31.25 % of children can speak in sentences.

~one are true

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~ 31 32 33 34 35 36 37 38 39 40 42 44 45

7) The graph below gives the percentage of children P(t) who can speak in sentences (5 or more words) by the age oft months.

Find t such that P(j) = 6. Which statement below gives the correct interpretation of the solution that you found? --- a) The company's profit was $3 million in 2001. Ca :;-1... -f:. ,,.... 8 b) The company's profit was $4 million in 2001. c) The company's profit was increasing by $4 million per year in 2001.

~Th···e company's pro~t was $6 m~ll~on !n 2002. ~ The company's profit was $6 million m 2004.

f) The company's profit was $6 million in 2002 and 2004. g) None of these statements is the correct interpretation of the solution of the problem.

6) The annual profit P (in millions of $) for a particular company in year t is mode' by the following function, where/=Ocorrespondsto1995. fLf) ~ . ~

P(t)={~~~8 ~~~::~0 - ~ : ;~:)) ~: c? ~ 2,

p\f ~ (B {)DOU

10) How much does one need to invest now at an annual interest rate of 3% , compounded quarterly, in order to have $150,000 in 18 years?

~~ b) $88,109.19 c)$ 76,550.75 d) $56,750.95 e) $45,550.35

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9) Aaron borrows $2400 at 12 % s~ year. He will repay a total of $2760 when the loan becomes due. What is the length of the loan? ~

a) 1.25 months b) 16 months c) 12.5 months ~ths) e) 14 months

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c) 76.2 years f) 75.3 years ~-­

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a) 75.6 years d) 79.1 year

8) The following table gives the life expectancy at birth for females born in the United States in selected years. Use a line of best fit to estimate the life expectancy for a female born in the U.S. in 1'970. 1 o 2.1:> v» 6V, ,;:::)(:;::;:..vr

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Birth Year 1940 1960 1980 1996 Life Expectancy (in years) 65.2 73.1 77.4 79.1 -::: ~

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13) Makayla deposits $2000 at the end of each year for 8 years into an account earning ,5 % interest per year, compounded annually. She then leaves the money alone, with no further deposits, for an addltlonal 5 years. Find the final amount on in the account after the entire 13 year period.

a) $34,127~ c) 42,303 d) $46,285 e) $37,764 n $28,480

d) $50,998

12) Kim and Jim borrow $324,000 to buy a new house. They are able to get a loan at 4.8% annual interest, compounded monthly. How much interest will they end up paying if they pay off the loan with reoular monthly payments over 30 years?

d) $887 c)$1221 b) $2276 a) $3683

11) Mr. and Mrs. Smith would like to have a total of $50,000 in an account in 8 years to help pay for their son's col'lege education. How much should they deposit every 6 months into the account earning 4% annual interest, compounded every 6 months, in order to reach their ~

16.) Heather deposits $1000 into an account earning 6 % % interest per year, compounded quarterly. She then adds $400 at the end of each quarter. The value of the account 3 12 years later is $7485. How much interest did she earn? \\ ,f"' V B b) $1671 c) $1502 d) $1703 e) $2585 I) noneofthese .

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a) $5.2,453 b) $46,400 c) $53,806 e) $56,338 f) $51,247

15) Roland buys a luxury car for $80,000. Find the value of his car in 3 ~years if the car depreciates at a rate of 12 % per year.

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f) $56,407 d) $2219 a) $63,580 b) $21,082 c) $17,754 g) none of these

14) How much should be deposited now into an account earning 3 % interest per year, compounded every 6 months, in order to fund withdrawals from the account in the amount of $2500 at the end of each 6 month period for the next 4 years? The account is to be empty after the last withdrawal is made.