Since many measurements in the United States are in the English system, you may often be required to convert from English units like pounds to SI units like kilograms. Luckily, we can use facts (like 1 kilogram is approximately 2.2 pounds) to convert between different measurement systems.
Road sign with kilometers and miles
Our objectives for this section are to
use dimensional analysis to convert from one system of measurement to another system of measurement.
Use the resources below to help you accomplish these objectives.
You have probably heard of the “bell” curve, but you may not be familiar with what is really is. Some students may ask their instructors, “Do you grade on a curve?” Before you ask that question, make sure you understand what it is and whether it may be to your advantage.
The normal distribution (or bell curve) refers to a histogram that looks like the graphic above. It indicates how data is distributed with respect to each other. As you might guess, the peak of the curve corresponds to the mean and its spread matches the standard deviation.
In this section, you learn about the normal distribution and how to apply it to everyday problems. Our objectives are to
describe the basic properties of the normal distribution,
apply the 68-95-99.7 rule to a set of data,
relate the area under a normal curve to z-scores,
convert between raw scores and z-scores, use z-scores to compare data.
Armed with this information, you can utilize the normal distribution to answer questions about the relationship of a specific data value to the data values as a whole.
Use the workbook and videos below to help you master these objectives. Make sure you go through the practice problems since they are reflective of the types of problems you might find on a quiz or exam.
In the video below, think of probability of a data value as meaning the percentage of data values. We are using a cumulative from the mean table in our class (the second one in the video)
At some time in your life, you will make a large purchase such as a home or car. You may need to borrow money to make this purchase and pay back the loan with a series of regular payments. This process is called amortization.
Our goals in this section are to
Calculate the payment on an amortized loan.
Construct an amortization schedule.
Calculate the present value of an annuity.
Use the workbook and videos below to help you accomplish these objectives.
photo taken by flickr user ReubenInStt [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)]
When you need to save money for a large purchase or save money for retirement, you typically make regular payments into an account that earns interest. This series of payments is called an annuity.
If the regular payments are made at the beginning of a period of time, the annuity is called an annuity due. If the regular payments are made at the end of a period of time, the annuity is called an ordinary annuity. In this section we will examine the relationship between the future value of the annuity, the size of the payment, and the period of time over which the payments are made.
Our objectives in this section are to
Calculate the future value of an ordinary annuity.
Calculate different quantities in a sinking fund.
Use the workbook and videos below to help you accomplish these objectives.
