Name: ______________________________________ Class: _________ Date: _____________________
Test 5.1 REVIEW – Mean Absolute Deviation and
Financial Literacy
Mean Absolute Deviation
1. The table shows the amount of water used daily to water the fairways at the Fairlawn
Course. To the nearest tenth, determine the mean absolute deviation of the data.
2. Cody kept track of the amount of money he earned each week cutting grass. What is the
mean absolute deviation of the data to the nearest dollar?
3. The table shows the amount of monthly rainfall in inches over a 5 month period. What is
the difference between the interquartile range and the mean absolute deviation to the
nearest tenth?
4. What is the mean absolute deviation for the data set below?
Box and Whisker
Look at the box and whisker plot below.
5.
What does each point represent?
A _____________ B _____________
C _____________ D _____________
E _____________
6. What is the range of the box and whisker plot in number 5?
7. What is the interquartile range of the box and whisker plot in number 5?
8. Construct a box and whisker plot with the given data?
9. What is the interquartile range of the box and whisker plot you created in number 8?
10. What is value is the median in the box and whisker plot?
11. What is the lower quartile of this box and whisker plot?
Simple Interest – Use the formula I=Prt
12.You get a student loan in order cover you educational expenses for this year. Find the
interest on the loan if you borrowed $2000 at 8% for 1 year.
13. You are starting your own business in Houston. You borrow $10,000 from the bank at a
rate of 9% for 5 years. What will be the total amount you owe the bank at the end of the
5 years?
14. You paid back a loan for a total of $1,080. What was the interest rate of the loan if six
years ago, you only borrowed $675?
15. You took out a loan for $25,000 at a rate of 7.8% to buy a new car. You repaid the loan
in the amount of $34, 750. How long did it take to pay off the loan?
16. The interest earned at the end of an eight year investment was $55.20. If the If there
was a rate of 3% on the investment, what was the original amount invested?
17. What is the difference between simple interest and compound interest?
Compound Interest – Use the formula
A = P(1+R)t
18. Dominic invested half a million dollars in a savings account that is compounded annually
at a rate of 6.3% for 30 years. What is his investment worth at the end of the thirty
years?
19. Raquel plans to invest $5000 at an anticipated rate 4.5% compounded annually for 20
years. What is the difference in her ending balance if the actual rate is 6% instead of
4.5%?
20. Logan invests his allowance of $150 in a savings account that is compounded annually at
a rate of 11%. How much interest has he earned in 3 years?
21.Brianna invests $3000 in a savings account with a rate of 8.15% compounded annually.
How much money will be in the account at the end of 3 years 6 months?
22. Katie deposited money into an account that earns compound interest annually.
Principal,
P
Interest
Rate, r
Time, t
$20,000
6.3%
15 years
How much money is in her account after 15 years?
How much interest did she earn?