Final Exam Review Guide

A cumulative MATH 114 review sheet that organizes concepts, formulas, and calculator suggestions by question type.

Final Exam Review Guide

1. Hourly Wage:

  • Concept: Rate calculation (Total Pay / Hours Worked).
  • Formula Sheet: Basic arithmetic, no specific formula listed.
  • Desmos/Excel: Use for the division calculation: 460 / 28.

2. Unit Conversion (Time):

  • Concept: Dimensional analysis.
  • Formula Sheet: No specific conversion formulas listed, but requires knowing: 1 year ≈ 365 days, 1 day = 24 hours.
  • Desmos/Excel: Use for calculation: 2 * 365 * 24.

3. Unit Conversion (Weight):

  • Concept: Using a given conversion factor.
  • Formula Sheet: No specific conversion formulas listed, but the factor (1 lb = 0.4536 kg) is provided in the question.
  • Desmos/Excel: Use for calculation: 16 * 0.4536.

4. Temperature Conversion:

  • Concept: Applying specific conversion formulas.
  • Formula Sheet: The necessary formulas ($C = (F-32)/1.8$, $F = 1.8C + 32$) are provided in the question itself.
  • Desmos/Excel: Use for plugging values into the formulas.

5. Percentage Calculation:

  • Concept: Understanding percentage decrease. 50% less means the price is (1 - 0.50) = 0.50 times the original price.
  • Formula Sheet: Basic percentage concept, related to Relative Change if needed, but simpler here.

6. Weighted Averages:

  • Concept: Understanding that averaging percentages directly only works if the quantities they represent have equal weight (which is often not the case with course grades where exams might be weighted differently).
  • Formula Sheet: No specific formula, relies on conceptual understanding of averages.

7. Scientific Notation Conversion:

  • Concept: Converting from scientific notation (with a negative exponent) to ordinary notation by moving the decimal point to the left.
  • Formula Sheet: No specific formula, relies on understanding scientific notation.

8. Scientific Notation Conversion:

  • Concept: Converting from ordinary notation to scientific notation (with a positive exponent).
  • Formula Sheet: No specific formula, relies on understanding scientific notation.

9. Prorating Expenses:

  • Concept: Calculating total annual cost from monthly cost (Monthly * 12) and comparing annual costs.
  • Formula Sheet: Basic arithmetic.
  • Excel: Useful for organizing and calculating: Cell A1: =75*12, Cell A2: 350, then compare A1 and A2.

10. Prorating Expenses:

  • Concept: Finding the average monthly cost by converting all expenses to monthly equivalents (Semiannual / 6, Annual / 12) and summing them.
  • Formula Sheet: Basic arithmetic.
  • Excel: Useful for calculation: =(600/6) + 105 + (400/12).

11. Compound Interest (Monthly):

  • Concept: Calculating future value with compound interest.
  • Formula Sheet: Financial Formulas -> Compound Interest -> Compounded n times/year: $ A = P \times \left(1 + \frac{APR}{n}\right)^{(nY)} $. A = P * (1 + APR/n)^(nY) (Here P=6000, APR=0.06, n=12, Y=13).
  • Excel: Use the FV function: =FV(0.06/12, 13*12, 0, -6000).
  • Desmos: Calculate using the formula directly: $6000*(1 + 0.06/12)^(12*13)$.

12. Compound Interest (Annually):

  • Concept: Calculating future value with annual compounding.
  • Formula Sheet: Financial Formulas -> Compound Interest -> Compounded Annually: $ A = P \times (1 + APR)^Y $. A = P * (1 + APR)^Y (Here P=2000, APR=0.05, Y=2).
  • Excel: Use the FV function: =FV(0.05, 2, 0, -2000).
  • Desmos: Calculate using the formula directly: $2000*(1 + 0.05)^2$.

13. Savings Plan Balance (Future Value of Annuity):

  • Concept: Calculating the future value of regular monthly deposits.
  • Formula Sheet: The Excel function =FV(rate, nper, pmt, [pv], [type]) is listed under Financial Functions. The sheet provides the mathematical formula for PMT based on FV, but not FV based on PMT.
  • Excel: Use the FV function: =FV(0.04/12, 2*12, -250, 0). (Rate=APR/n, Nper=Y*n, Pmt is negative as it's an outflow).
  • Desmos: Could calculate using the full FV of annuity formula if known: $ FV = PMT \times \frac{\left(1 + \frac{APR}{n}\right)^{(nY)} - 1}{\left(\frac{APR}{n}\right)} $.

14. Investment Returns:

  • Concept: Calculating total and annualized returns.
  • Formula Sheet: Financial Formulas -> Investment Returns -> Total Return: $ \frac{(A - P)}{P} \times 100\% $ (A - P) / P * 100% and Annual Return: $ \left(\frac{A}{P}\right)^{(1/Y)} - 1 $ (A / P)^(1/Y) - 1.
  • First calculate Initial Principal (P): 150 * 60 = 9000.
  • A = $12900$, Y = 4 years.
  • Excel/Desmos: Use for the calculations after finding P.
    • Total Return: ((12900 - 9000) / 9000) * 100
    • Annual Return: ((12900 / 9000)^(1/4) - 1) * 100

15. Loan Comparison:

  • Concept: Analyzing trade-offs between loan term, APR, monthly payment, and total interest paid.
  • Formula Sheet: Financial Formulas -> Savings/Loan Payments -> PMT based on PV: $$ PMT = \frac{PV \times \left(\frac{APR}{n}\right)}{\left[1 - \left(1 + \frac{APR}{n}\right)^{(-nY)}\right]} $$ PMT = (PV * (APR/n)) / (1 - (1 + APR/n)^(-nY)).
  • Excel: Use the PMT function to calculate payments for both scenarios:
    • Scenario 1 (3yr, 5%): =PMT(0.05/12, 3*12, 100000)
    • Scenario 2 (5yr, 6%): =PMT(0.06/12, 5*12, 100000)
  • Compare payments and calculate total paid (PMT * term * 12) to compare total interest. Shorter term = higher payment, less total interest.

16. Mortgage Calculations:

  • Concept: Calculating mortgage payment, total cost, and interest/principal portions.
  • Formula Sheet:
    • a. Monthly Payment: Financial Formulas -> Savings/Loan Payments -> PMT based on PV formula (see Q15).
    • b. Total Paid: Basic arithmetic (Monthly Payment * n * Y).
    • c. Total Interest = Total Paid - Principal (PV). Calculate percentages using Relative Change formula if needed.
  • Excel:
    • a. =PMT(0.03/12, 15*12, 225000)
    • b. Result from (a) * 15 * 12
    • c. Principal Percentage: =225000 / Result from (b). Interest Percentage: =(Result from (b) - 225000) / Result from (b) or =1 - Principal Percentage. Format as percentage.

17. Statistics Concepts:

  • Concept: Definitions of Population, Sample, Population Parameters, and Sample Statistics.
  • Formula Sheet: Conceptual, no specific formulas.

18. Survey Bias:

  • Concept: Identifying biased questions (specifically, leading questions).
  • Formula Sheet: Conceptual, no specific formulas.

19. Data Types:

  • Concept: Distinguishing between Qualitative (categorical) and Quantitative (numerical) data.
  • Formula Sheet: Conceptual, no specific formulas.

20. Data Types:

  • Concept: Distinguishing between Qualitative and Quantitative data.
  • Formula Sheet: Conceptual, no specific formulas.

21. Graph Interpretation (Bar Chart):

  • Concept: Reading and comparing values from a double bar chart.
  • Formula Sheet: No formulas needed.

22. Graph Interpretation (Scatter Plot):

  • Concept: Identifying the type (positive/negative/none) and strength (strong/weak) of correlation shown in a scatter plot.
  • Formula Sheet: Conceptual, no specific formulas.

23. Graph Interpretation (Scatter Plot):

  • Concept: Identifying the type and strength of correlation.
  • Formula Sheet: Conceptual, no specific formulas.

24. Descriptive Statistics:

  • Concept: Calculating measures of central tendency.
  • Formula Sheet: Descriptive Statistics & Change -> Measures of Center -> Mean, Median, Mode definitions.
  • Excel: Enter the data into a column. Use =AVERAGE(range), =MEDIAN(range), =MODE.SNGL(range) or =MODE.MULT(range).
  • Desmos: Can calculate mean and median using `mean()` and `median()` functions on a list. Mode needs manual identification.

25. Descriptive Statistics:

  • Concept: Definition of Range.
  • Formula Sheet: Descriptive Statistics & Change -> Measures of Variation -> Range: $\text{Highest Value} - \text{Lowest Value}$ Range: Highest Value - Lowest Value.

26. Descriptive Statistics:

  • Concept: Calculating Mean and Median.
  • Formula Sheet: Descriptive Statistics & Change -> Measures of Center -> Mean, Median definitions.
  • Excel: =AVERAGE(range), =MEDIAN(range).

27. Normal Distribution Validity:

  • Concept: Understanding properties of normal distribution and standard deviation. A standard deviation (7 lbs) cannot be larger than the mean (6.8 lbs) for a variable like baby weight which must be non-negative. A value 1 standard deviation below the mean would be negative (6.8 - 7 = -0.2 lbs), which is impossible.
  • Formula Sheet: Conceptual understanding related to Distributions section.

28. Normal Distribution (Z-score & Percentiles):

  • Concept: Calculating z-scores and finding corresponding percentiles using a table.
  • Formula Sheet: Distributions -> Standard Score (z-score): $ z = \frac{(x - \mu)}{\sigma} $ z = (x - μ) / σ. Variable definitions use code tags: x (data value), μ (population mean), σ (population std dev). Use the Z-Table on the sheet or in the question.
  • Excel: Calculate z-score using the formula or =STANDARDIZE(x, mean, stdev). Find percentile using =NORM.S.DIST(z, TRUE).
  • Desmos: Calculate z-score using the formula: $(x - 62.6) / 2.5$.

29. Exponential Decay:

  • Concept: Modeling exponential decrease and calculating future value.
  • Formula Sheet: Growth Models -> Exponential Growth -> Formula (rate 'r'): $ Q = Q_0 \times (1 + r)^t $. Q = Q_0 * (1 + r)^t Note that for decay, 'r' is negative (r = -0.09).
  • Excel: Calculate directly: =120*(1-0.09)^3. Or use =FV( -0.09, 3, 0, -120) (treating decay rate like a negative interest rate).
  • Desmos: Calculate using the formula: $120*(1-0.09)^3$.

30. Linear Growth:

  • Concept: Modeling linear increase and calculating future value.
  • Formula Sheet: Growth Models -> Linear Growth (Basic): New Value = Initial Value + (Growth Rate × Time). Or Linear Modeling -> General Form. (Initial Value = 100000, Growth Rate = 1600, Time = 4).
  • Excel/Desmos: Calculate using the formula: $100000 + (1600 * 4)$.

31. Exponential Growth (Doubling Time):

  • Concept: Understanding doubling time and its relation to growth factor over multiple periods. If doubling time is $T_{dbl}$, then in time $t$, the factor of growth is $2^{(t/T_{dbl})}$.
  • Formula Sheet: Growth Models -> Exponential Growth -> Formula (doubling time): $ Q = Q_0 \times 2^{(t / T_{dbl})} $. Q = Q_0 * 2^(t / T_dbl) Here t=40, $T_{dbl}$=10. Growth factor = $2^{(40/10)} = 2^4$.

32. Population Growth Rate:

  • Concept: Definition of overall population growth rate.
  • Formula Sheet: Conceptual, no specific formula.

33. Exponential Growth (Approx. Doubling Time):

  • Concept: Using the approximate doubling time formula to estimate growth.
  • Formula Sheet: Growth Models -> Exponential Growth -> Approx. Doubling Time ($ T_{dbl} \approx \frac{70}{P} $ T_dbl ≈ 70 / P) and Formula (doubling time): $ Q = Q_0 \times 2^{(t / T_{dbl})} $ Q = Q_0 * 2^(t / T_dbl).
  • Step 1: Find approx. $T_{dbl}$: $70 / 0.6 \approx 116.67$ years.
  • Step 2: Calculate population for t = 2059-2020 = 39 years: $ 330 \times 2^{(39 / 116.67)} $.
  • Step 3: Calculate population for t = 2098-2020 = 78 years: $ 330 \times 2^{(78 / 116.67)} $.
  • Excel/Desmos: Use for calculations in steps 1, 2, and 3.

34. Function Relationships:

  • Concept: Describing the relationship between two variables as a function.
  • Formula Sheet: Conceptual, related to Linear Modeling/Growth Models definitions.

35. Function Representation (Table, Graph):

  • Concept: Identifying independent/dependent variables, domain/range from a table, and matching to a graph. Plotting points.
  • Formula Sheet: No formulas needed.
  • Desmos: Useful for plotting the points from the table `(speed, stopping distance)` to visualize the shape and verify the correct graph.
  • Excel: Can create a scatter plot from the data.

36. Linear Functions:

  • Concept: Definition of a linear function and its graphical representation (a straight line).
  • Formula Sheet: Conceptual, see Linear Modeling section definition.

37. Linear Functions (Graph Interpretation):

  • Concept: Describing the function shown in a graph and calculating its slope (rate of change).
  • Formula Sheet: Linear Modeling -> Slope (Rate of Change): $ m = \frac{y_2 - y_1}{x_2 - x_1} $. m = (y2 - y1) / (x2 - x1) Pick two points from the graph (e.g., (0,0) and (4,3)). Slope = $(3-0)/(4-0) = 3/4$.
  • Desmos: Can plot points and find the equation of the line passing through them.

38. Linear Modeling:

  • Concept: Finding a linear equation from two data points and using it for prediction.
  • Formula Sheet: Linear Modeling -> Slope ($ m = \frac{y_2 - y_1}{x_2 - x_1} $ m = (y2 - y1) / (x2 - x1)) and Equation of a Line ($ y = mx + b $ y = mx + b).
  • Points: (0, 2.4) and (1, 15.9).
  • Calculate slope (m): $(15.9 - 2.4) / (1 - 0) = 13.5$.
  • Use point (0, 2.4) to find b (y-intercept): $2.4 = 13.5(0) + b \implies b = 2.4$.
  • Write the equation $w = 13.5t + 2.4$.
  • Plug in t=5: $w = 13.5(5) + 2.4$.
  • Plug in t=11: $w = 13.5(11) + 2.4$.
  • Excel: Use =FORECAST.LINEAR(new_t, known_w, known_t) after setting up the known data points (t=0, w=2.4; t=1, w=15.9).
  • Desmos: Plot the two points, find the line equation, and evaluate for t=5 and t=11.

39. Exponential Growth (Inflation):

  • Concept: Calculating future cost based on an annual inflation rate (exponential growth).
  • Formula Sheet: Growth Models -> Exponential Growth -> Formula (rate 'r'): $ Q = Q_0 \times (1 + r)^t $. Q = Q_0 * (1 + r)^t (Q₀=59, r=0.01, t=2002-1998=4).
  • Excel: Calculate directly: =59*(1+0.01)^4. Or use =FV(0.01, 4, 0, -59).
  • Desmos: Calculate using the formula: $59*(1.01)^4$.

40. Exponential Growth:

  • Concept: Creating an exponential function and calculating future values.
  • Formula Sheet: Growth Models -> Exponential Growth -> Formula (rate 'r'): $ Q = Q_0 \times (1 + r)^t $. Q = Q_0 * (1 + r)^t (Q₀=177000, r=0.06).
  • Excel/Desmos: Use the formula $177000 \times (1.06)^t$ to calculate values for t=1, 2, 3, 4, 5. Excel is good for creating the table quickly.