Applied Mathematics

Chapter 1 : Word Problems Even Numbers

Group 3

Given:
High school graduate annual earnings (A) : $30,400
Associate’s degree graduates annual earnings (B) : $38,200
Bachelor’s degree graduates annual earnings (C) : $52,200
Work life in years (D) : 50

1. Lifetime earnings
a. High school graduate
$30,400 x 50 = $1,520,000
b. Associate’s degree graduates
$38,200 x 50 = $1,910,000
c. Bachelor’s degree graduates
$52,200 x 50 = $2,610,000

2. Difference between a high school and associate’s degree earnings

$1,910,000 - $1,520,000 = $390,000
3. Difference between a high school and bachelor’s degree earnings
$2,610,000 - $1,520,000 = $1,090,000

Ticket price rounded all the way: $95 = $90

Estimate of ticket for family of four = $90 x 4 = $360
Estimate of ticket for family of four rounded all the way = $400

No. of tires purchased: 910 pcs

Cost per tire: $36
Total cost of purchase: 910 x $36 = $32,760

Selling price per tire: $65

Total sales: 910 x $65 = $59,150

Gross profit: $59,150 - $32,760 = $26,390

67 mice

Alison’s average if all subjects considered: (90+65+85+80+75+90) / 6 = 80.83

Alison’s average if lowest subject is dropped: (90+85+80+75+90) / 5 = 84

First trip
Miles driven: 1,200
Gallons of gas used: 80
Miles per gallon on first trip: 1200 / 80 = 15

Second trip
Miles driven: 840
Gallons of gas used: 60
Miles per gallon on first trip: 1200 / 80 = 14

Difference on first and second trip: 15 – 14 = 1

Ending inventory
Inventory beginning: 289
Purchases for the month: 1,855
Sold inventory for the month: 1,222
Ending inventory: 289 + 1,855 – 1,222 = 922 business math texts

Cost of each text: $59

Cost of ending inventory: $59 x 922 = $54,398

No. of faculty members

Business department: 20
Psychology department: 40
English department: 26
Other departments: 140
Total number of faculty members: 20+40+26+140 = 226
Total number of students in the local college: 226 x 25 = 5,650
Sales from major clients: $482,900
Sales from other clients: $116,500
Total actual sales: $482,900 + $116,500 = $599,400

Excess in projected sales: $880,000 - $599,400 = $280,600

No. of credit card companies: 11

People approved of credit card: 25,652
Average new customer per credit card company: 25,652/11 = 2,332

Incremental cost for admission: $41 - $31 = $10

No. of children to go to Disney land: 6,000
Additional revenue from the incremental cost: $10 x 6,000 = $60,000

Cost of all merchandise bought: $2,900 + $70 + $1,050 + $8,105 = $12,125

Total sales if all merchandise is sold: $3,000 + $210 + $2,950 + $14,888 = $21,048
Gross profit = $21,048 - $12,125 = $8,923

Sales for the following:

Paint brush: 15 x $3 = $45
Wrench: 6 x $5 = $30
Grass seeds: 7 x $3 = $21
Lawn mowers: 4 x $119 = $476
Paint: 28 x $8 = $224

Total dollar sales: $45 + $30 + $21 + $476 + $224 = $796

No. of house built: 12
Cost of each house: $115,000
Total cost of all house: $1,380,000

Total sales from all houses: $1,980,000

Gross profit from sale of all houses: $1,980,000 - $1,380,000 = $600,000