FP014 Final Exam 2022
FP014 Final Exam 2022
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2. A firm has two products for sale. The vector p = contains the price of each
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q
product in pounds (£), and the vector q = 1 contains the monthly sales
q2
quantities of each product respectively.
(a) Given that the sales quantities are not zero, show that p and q cannot be
perpendicular. (1 mark)
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In the first month of trading, the sales vector is given by q = .
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(b) Calculate p · q and provide an interpretation of what this value represents. (2 marks)
The sales quantities increase each month according to the transformation matrix
1 2
M=
1 1
(c) Calculate the sales quantities for the second month. (1 mark)
(d) Find a matrix which can be used to transform the sales quantities for the first
month into the sales quantities for the third month. (2 marks)
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(e) In a particular month, the sales vector is given by q = . Find the sales
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quantities for the previous month, using the inverse matrix M −1 . (2 marks)
2 (Continued)
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4. (a) Given that the equation 3x2 + 8x + k = 0 has only one solution for x ,
find the solution. (2 marks)
(b) Hence show that the equation 3e2x + 8ex + k = 0 has no solution for x . (1 mark)
(c) Show that the equation 51/x (2x − 7) = 1 can be written in the form
1
f (x) = 0 , where f (x) = x + log5 (2x − 7) . (2 marks)
(d) State a possible domain that would make f a well-defined function. (1 mark)
(e) Given that f has a root between 3.6 and 4, use the inveral bisection method
twice to find a smaller interval containing the root. (3 marks)
5. In the year 2020, Martin paid £500 in car insurance, and he agreed a deal where
the amount he pays will decrease by 4% each year after.
(a) How much will Martin pay in the year 2024? (2 marks)
(b) How much will Martin have paid in total by the end of 2029? (1 mark)
(c) If this deal continued forever, what is the maximum amount that Martin could
pay in total? (1 mark)
Naomi agrees a different deal, in which she will pay £A initially with a fixed
decrease in payment of £x per year.
(d) Given that she pays £480 in the 6th year, and £240 in the 12th year, calculate
how much she pays in total over the first five years. (3 marks)
The tangent to the curve at the point P = (a, b) meets the y-axis at the point (0, 4) .
(b) Given that a 6= −6 , find the value of a . (4 marks)
(c) Hence find the gradient of the normal to the curve at P . (1 mark)
(6 marks)
3 (Continued)
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8. Penelope is conducting a survey as part of some research into the number of books
people own, and she collects the following data values:
38 77 120 92 1 54 81 36 20 45 28 109
Penelope continues collecting more data, and the overall values are shown in the
grouped frequency table:
(c) Calculate the upper quartile for the data, to the nearest integer. (3 marks)
10. (a) The probability that a hot dog stand will break even on any given day is 0.8 .
If the hot dog stand is open for 9 days, find to four decimal places the
probability that it will break even on fewer than 7 days. (3 marks)
(b) The average number of times that a particular share price changes each
minute is 6. If the share price is observed for 20 seconds, calculate the
probability that the share price changes more than twice. Give your answer
to four decimal places. (3 marks)
4 (Continued)
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11. A company director claims that there is a positive correlation between the
percentage of the marketing budget which is used (x), and the number of times
per hour that a customer views their online store (y). The table below shows the
results of an investigation into this claim across several months.
(a) Explain what it means for two variables to have a positive correlation. (1 mark)
(b) Calculate the product moment correlation coefficient for the data from
March to August, correct to four decimal places. (4 marks)
(c) Use a linear regression model to predict the number of views per minute in
September, to the nearest integer. (4 marks)
(d) Why would it not be appropriate to estimate the percentage of the marketing
budget required in order to achieve 40 views per minute? (1 mark)
12. (a) Given that P (Z < a) = 0.67 , find the value of a . (1 mark)
(b) Find P (−1.4 < Z < 1.8) (2 marks)
(c) Sketch a normal curve and shade an area representing the probability P (Z > 2) . (1 mark)
(d) Given a normally distributed variable X with standard deviation 5, use the fact
that P (X > 4) = 0.0668 to find the mean value of X . (3 marks)
13. (a) A sample of 20 bananas shows a mean length of 15.7 cm, and a standard
deviation of 1.4 cm . Calculate a 99% confidence interval for the mean length of
all bananas, giving the interval bounds to three significant figures. (3 marks)
(b) Show that the z value for a one-tailed hypothesis test at the 5% significance
level is 1.64 (or 1.65). (1 mark)
(c) A hypothesis is made that the proportion of bananas that are ripe is at least 90% .
From the sample of 20 bananas, 17 of them are ripe. Test the hypothesis at the
5% significance level. (3 marks)
5 (Continued)
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14. A coffee shop collects some data to discover if there is any relationship between
the size of drink ordered and whether or not a customer uses a loyalty card.
The results are shown in the contingency table below:
(a) Find the probability that a randomly selected customer orders a Small drink,
given that they used a loyalty card. (1 mark)
(b) Conduct a chi-squared test at the 10% significance level to determine whether
or not there is a significant relationship between the size of drink ordered and
loyalty card usage. (5 marks)
6 (End)