Statistics and Finance Quiz

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Questions and Answers

Match the following statistical concepts with their corresponding values:

Mean = 25 Standard Deviation = 2.0 Z-score = ? Interest Rate = ?

Match the following financial concepts with their corresponding descriptions:

Simple Interest = Interest earned on loan amount Loan Duration = Timeframe to repay the loan Interest Rate = Percentage of loan amount earned as interest Total Amount = Initial loan amount + interest

Match the following values with their corresponding descriptions:

Php23, 000 = Initial loan amount 5% = Interest rate offered by ABC Bank 3 years = Loan duration ? = Total amount to be paid to the bank

Match the following bank details with their corresponding descriptions:

<p>ABC Bank = Bank offering 5% interest rate Php23, 000 = Loan amount 3 years = Loan repayment duration ? = Interest earned on loan</p> Signup and view all the answers

Match the following statistical measures with their corresponding formulas:

<p>Mean = Sum of values / Number of values Standard Deviation = Square root of variance Z-score = (x - Mean) / Standard Deviation Interest = Principal x Rate x Time</p> Signup and view all the answers

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Study Notes

Z-Score Calculation

Mean (μ) is 25; standard deviation (σ) is 2.0.
Z-score formula: ( Z = \frac{(X - μ)}{σ} ) where X is the value to be standardized.
For example, to find the Z-score for X = 10:
- ( Z = \frac{(10 - 25)}{2.0} = \frac{-15}{2.0} = -7.5 )
For X = 20:
- ( Z = \frac{(20 - 25)}{2.0} = \frac{-5}{2.0} = -2.5 )
For X = 25:
- ( Z = \frac{(25 - 25)}{2.0} = 0 )
For X = 35:
- ( Z = \frac{(35 - 25)}{2.0} = \frac{10}{2.0} = 5 )
For X = 40:
- ( Z = \frac{(40 - 25)}{2.0} = \frac{15}{2.0} = 7.5 )

Simple Interest Calculation

Simple interest formula: ( I = P \times r \times t )
( P ) (principal amount) is Php 23,000; ( r ) (interest rate) is 5% or 0.05; ( t ) (time in years) is 3.
Calculate interest earned:
- ( I = 23,000 \times 0.05 \times 3 = 3,450 ) Php
Total amount to be paid:
- Total Amount = Principal + Interest
- ( Total = 23,000 + 3,450 = 26,450 ) Php