Math 2000 Midterm Exam
Name: ___________________________________________________
This is a 75-minute open-book, open-notes exam. You must show all of your work clearly to receive full credit.
1. (15 points) Of the 2.3 million deaths that occur in the United States during a year, roughly 725,000 are attributable to heart disease and 98,000 are due to accidents.
a. How many deaths occur in the United States each minute?
b. What is the fraction (as a percentage) of deaths due to heart disease?
c. Express the death rate for accidents in units of deaths per 100,000 people in the population.
2. (15 points) Assume that 1 euro = $0.95, 1 pound (English) = $1.60. Note that pound (English) is a unit of currency.
a. Which is larger, one dollar or one euro? Explain.
b. How many pounds are there in one dollar?
c. Suppose you see tangerines in a market priced at 1.25 pounds (English) per kilogram. What is the price in dollars per pound?
3. (15 points)
a. Suppose there are 8.9 million unemployed people in a certain country and the unemployed rate is 3.2% (that is, 3.2% of all eligible workers are unemployed). How many eligible workers are there in the country?
b. According to a recent TIME Magazine, total consumer spending in the United States was $7.2 trillion in January 2002, an increase of 2.9% over September 2001. How much was consumer spending in September 2001?
4. Finance. (15 points) Robert starts paying $200 per month into a retirement account with an APR of 9.8%. Assume monthly compounding.
a. What will the balance in the account be in 25 years?
b. What fraction of the balance after 25 years is due to interest?
5. (15 points) In a particular hospital, some nurses are women and some doctors are men. Furthermore, no doctors are nurses and all blue-eyed doctors are women. Using circles for men, women, nurses, doctors, and blue-eyed doctors, clearly draw and label a Venn diagram that illustrates this situation.
7. (15 points) In 1999, the total expenditure on education in the United States by all educational institutions was $618,600 million (as given by the New York Times Almanac). Furthermore, 44% of the U.S. population is 24 or under in age.
a. Express the total expenditure on education in scientific notation.
b. How many people in the United States are aged 24 or under?
c. How much was spent on education per person under age 24? Show the use of scientific notation in your solution.