Hewlett Packard 17BII Calculator

Transcription

1 Hewlett Packard 17BII Calculator Keystrokes for the HP 17BII are shown for a few topics in which keystrokes are unique. Start by reading the Quik Start section. Then, before beginning a specific unit of the tet, check to see if this includes keystrokes for that unit. Going through the keystrokes before class will help, especially if your instructor cannot include instructions for the HP 17BII during class. Quik Start Calculator registers. Some keys have 2 functions. One appears in white on the face of the key. Some appear in gold above the key. To access the function appearing in gold, press the gold key first. Menus. The bottom part of the display shows menu labels. To return to the main menu, press [GOLD] [MAIN]; the 5 main menus will appear in the bottom of the display: FIN (finance), BUS (business percentages), SUM (statistics), TIME (time management), and SOLVE (equation solver). The MAIN menu is a set of primary choices leading to other menu options. When a menu has more than 6 labels, the label OTHER or MORE appears at the far right; press [OTHER] or [MORE] to see other choices. Keystrokes for menu items will be shaded. For all of the upcoming eamples, it is assumed you have the main menu in the display (press [GOLD] [MAIN], if necessary, at the start of the problem). Display contrast. To change the display contrast, hold down [CLR] while pressing [ + ] or [ - ]. For simplicity, only part of the displayed characters are shown in keystroke solutions. Arithmetic. The HP 17BII provides a choice of Algebraic language or RPN. Most people who are not familiar with RPN prefer using Algebraic mode (in which arithmetic operations are done as we say them). For the eample shown below, we will use both; for all other eamples, we will use Algebraic mode. Eample: Multiply 1,222 by 32.8 using RPN [GOLD] [MODES] SELECT MODE ready to choose RPN RPN MODE selected RPN mode 1,222 [INPUT] 1, pressing INPUT starts a new calculation 32.8 [ ] 40, operator key ( ) is pressed after number using algebraic mode [GOLD] [MODES] SELECT MODE ready to choose ALG ALGEBRAIC MODE selected algebraic mode 1,222 [ ] 32.8 [ = ] 40, answer Notice, when keying in 1,222 we did not key in a comma (there is no comma key). The comma is shown in keystrokes for clarity and will show up in the calculator display. Also, notice that we did not key in the decimal point when entering 1,222; the calculator presumes there is a decimal point at the far right. Correcting entries. To erase the last digit entered, press [ ¹ ]. After an operation is completed, pressing [ ¹ ] clears the last value displayed. Pressing [CLR] clears the display. Changing sign. The sign of a displayed number can be changed by pressing [+/-]. Setting the decimal. To see more digits momentarily, press [GOLD] and hold down [SHOW]. To change the number of displayed decimal places, first press [DSP]. Then, either (a) press FIX, type the number of decimal places you want (from 0 to 11), and press [INPUT], or (b) press ALL to see a number as precisely as possible (12 digits maimum; trailing zeros are dropped). Chain calculations use the internal, more accurate number, not the displayed number; if we want to use the displayed number, rather than the internal number, we round the internal number to match the displayed number by pressing [GOLD] [RND].

2 Time-saving registers. Suppose we want to calculate the total monthly rent on a 72-unit apartment building in which 36 units rent for $850 each, 24 rent for $900 each, and 12 rent for $925 each. One approach would be to write down subtotals, then add subtotals: 36 $850 $30, $900 21, $ ,100 Total $63,300 We could instead use time-saving features of the HP 17BII. A few are shown below. use storage registers 36 [ ] 850 [ = ] [STO] 1 30, first subtotal, stored in register 1 24 [ ] 900 [ = ] [STO] 2 21, second subtotal, stored in register 2 12 [ ] 925 [ = ] 11, third subtotal (no need to store) [ + ] [RCL] 1 30, recalled first subtotal [ = ] 41, added first subtotal to third subtotal [ + ] [RCL] 2 21, second subtotal [ = ] 63, added second subtotal to previous running total use parentheses 36 [ ] 850 [ = ] 30, first subtotal [ + ] ( 24 [ ] 900 ) [ = ] 52, second subtotal added to first [ + ] ( 12 [ ] 925 ) [ = ] 63, third subtotal added to previous running total Unit 3.1 Mathematical symbols and epressions 2 5 Eample 2 Use a calculator to find the value of: a. 23 b [GOLD] [ ] result 4 [GOLD] [ y ] 5 [ = ] 1, result Unit 4.2 The percent formulas Eample 1 (Arithmetic portion) Multiply 5,600 by 70%. multiply by a decimal number 5,600 [ ].70 [ = ] 3, answer multiply by a percent 5,600 [ ] 70 [ % ] [ = ] 3, answer Unit 4.3 Increase and decrease problems Eample 1 You buy a TV for $350. You must also pay sales ta of 6%. First find the amount of sales ta. Then, determine the total amount you must pay price of TV [ + ] 6 [ % ] sales ta [ = ] total amount due

3 Eample 3 You retain a real estate agent to help sell your home. The home sells for $200,000, and you have agreed to pay your real estate agent a 7% commission. First find the commission. Then, determine the net amount you will receive after the commission. 200, ,000 selling price [ - ] 7 [ % ] 14, commission [ = ] 186, net, after the commission Eample 5 (Arithmetic) Tuition at a college has increased from $2,820 per year to $3,435 per year. What is the percent increase? BUS SELECT A MENU selected business menu from main menu %CHG?.?? now in %CHG submenu 2,820 OLD 2, original amount 3,435 NEW 3, new amount %CH percent increase Eample 6 (Arithmetic) In a certain state, highway deaths decreased from 231 last year to 212 this year. Calculate the percent decrease. [GOLD] [MAIN]?.?? go to main menu BUS SELECT A MENU selected business menu from main menu %CHG?.?? now in %CHG submenu 231 OLD original amount 212 NEW new amount %CH percent decrease Eamples 2-5 (See below) Unit 6.1 Markup eample 2: C=$300; 60% markup on cost; S=? [GOLD] [MAIN] BUS MU%C?.?? now in MU%C submenu 300 COST cost 60 M%C markup on cost PRICE selling price eample 3: S=$1,500; 60% markup on cost; C=? [GOLD] [MAIN] BUS MU%C?.?? now in MU%C submenu 1,500 PRICE 1, selling price 60 M%C markup on cost COST cost eample 4: S=$900; 40% markup on SP; C=? [GOLD] [MAIN] BUS MU%P?.?? now in MU%P submenu 900 PRICE selling price 40 M%P markup on selling price COST cost eample 5: C=$450; 40% markup on SP; S=? [GOLD] [MAIN] BUS MU%P?.?? now in MU%P submenu 450 COST cost 40 M%P markup on selling price PRICE selling price

4 Chapters 10 & 11 Compound interest formulas Using a calculator properly is essential in working with the compound interest formulas of Illustration An eample will be given for each of the 8 compound interest formulas. We will begin with Formula 1A. Before starting, here are a few things worth noting: C There are several ways to do the arithmetic; the keystrokes shown in this section are only one choice. The keystrokes shown may, in some cases, be longer than another method but are used because the method is considered to be more conceptually sound and easier to remember. C Here is a tip: Try your own keystrokes before looking at ours. If your approach makes sense, use it because it will be easier to remember. If you have difficulty, then review our suggested keystrokes. C The displayed values shown in the keystrokes have 2 decimal places. Having our decimal set at more or less places will not affect the final answer, provided we use chain calculations (remember that chain calculations use the internal, more accurate value, not the displayed value). Formula 1A Eample 1 of Unit 10.2 You get an income ta refund of $1,700 and deposit the money in a savings plan for 6 years, earning 6% compounded quarterly. Find the ending balance using compound interest formulas. n 24 FV = PV (1 + i) = $1,700 (1.015) = $2, [GOLD] [ y ] 24 [ = ] to the 24th power [ ] 1,700 [ = ] 2, answer Eample 2 of Unit 10.2 Suppose a wise man had deposited $1 in a savings account 2,000 years ago and the account earned interest at 2% compounded annually. If the money in the account today were evenly divided among the world s population, how much would each person receive, based on a world population of 7 billion? n 2000 FV = PV (1 + i) = $1 (1.02) Then divide by 7,000,000,000. [DSP] [ALL]?.????????? set decimal to show maimum number of digits 1.02 [GOLD] [ y ] 2,000 [ = ] E17 account balance, in scientific notation [ ] 7,000,000,000 [ = ] 22,659, amount per person [DSP] FIX 2 [INPUT] 22,659, set decimal back to 2 places (for net problem) Formula 1B Eample 4, Unit 10.2 You deposit $100 at the end of each year for 4 years, earning 6% compounded annually. Use compound interest formulas to find the balance in 4 years. FV ' PMT (1 % i)n & 1 i $100 (1.06)4 & 1 = = $ [GOLD] [ y ] 4 [ = ] [ - ] 1 [ = ] 0.26 value of numerator [ ].06 [ = ] 4.37 value inside of brackets [ ] 100 [ = ] FV

5 Formula 2A Eample 1 of Unit 10.3 Your aunt says she will give you $2, in 6 years. Assuming that you can earn 6% compounded quarterly, what is the real value of her promise, in today s dollars? PV ' FV (1 % i) ' $2, n (1.015) 24 = $1, [GOLD] [ y ] 24 [ = ] 1.43 value of denominator [STO] this value is stored in register 1 2, [ ] [RCL] recalled the value [ = ] 1, answer Formula 2B Eample 2 of Unit 10.3 You are selling a valuable coin. You have two offers. The first offer is for $5,500 cash. With the second offer, the buyer will pay you $2,000 at the end of each year for 3 years. Assuming that you can earn 8% compounded annually on your money, which offer is better? PV ' PMT 1 & 1 (1 % i) n i 1 1 & (1.08) = $2,000 3 = $5, [GOLD] [ y ] 3 [ = ] to the third power [GOLD] [1/] over (1.08 to the third power) [+/-] changed the sign [ + ] 1 [ = ] 0.21 value of the numerator [ ].08 [ = ] 2.58 value inside the brackets [ ] 2,000 [ = ] 5, answer Formula 3 Eample 1 of Unit 11.4 Dale bought a rare baseball card 3 years ago for $1,500. He just sold the card for $2,000 to get some money for his college tuition. What interest rate, compounded annually, did Dale earn on the investment? i ' FV PV 1 n & 1 1 $2,000 = 3 & 1 = % (with 4 decimal places) $1,500 2,000 [ ] 1,500 [ = ] 1.33 value inside of parentheses [GOLD] [ y ] 3 [GOLD] [1/] [ = ] 1.10 previous value to the 1/3 power [ - ] 1 [ = ] 0.10 rate, in decimal form, with decimal at 2 [DSP] FIX 6 [INPUT] rate, in decimal form, with decimal at 6 [DSP] FIX 2 [INPUT] 0.10 put decimal back at 2 places 22 Doing the Arithmetic Using Calculators

6 Formula 4A Eample 2 of Unit 11.1 You want to accumulate $200,000 for retirement in 40 years. You can earn 6.75% compounded monthly. What amount must you deposit at the end of each month in order to accumulate $200,000 in 40 years? PMT ' FV (i) (1 % i) n & 1 = $200,000 ( ) = $81.71 ( ) 480 & [GOLD] [ y ] 480 [ = ] [ - ] 1 [ = ] value of denominator [STO] stored the value 200,000 [ ] [ = ] 1, value of numerator [ ] [RCL] denominator, recalled [ = ] answer Formula 4B Eample 2 of Unit 11.2 Suppose you have accumulated $500,000, perhaps from many years of savings or from an inheritance. You put the money in a savings plan earning 6% compounded monthly. You want the plan to last 40 years. How much can you withdraw at the end of each month? PMT ' PV (i) 1 1 & (1 % i) n $500,000 (.005) = = $2, & (1.005) [GOLD] [ y ] 480 [ = ] th to the 480 power [GOLD] [1/] 0.09 th 1 over (1.005 to the 480 power) [+/-] changed the sign [ + ] 1 [ = ] 0.91 value of denominator [STO] stored the value 500,000 [ ].005 [ = ] 2, value of numerator [ ] [RCL] recalled the denominator [ = ] 2, answer

7 Formula 5 Eample 3 of Unit 11.1 You want to start a restaurant business and estimate it will take $28,000 to get started. You currently have $3,000 and can deposit an additional $425 at the end of each month. If your savings will earn 9% compounded monthly, in how many months can you start your business? For Formula 5 we must use proper sign convention for PV, FV, and PMT: PV = negative $3,000 (negative because you pay this amount into a savings plan) FV = $28,000 (positive because you will get this amount back from the savings plan) PMT = negative $425 (negative because you pay this amount into a savings plan) n ' &ln PV % ( PMT ) i PMT & FV i ln(1%i) &ln &$3,000 % &$ &$ & $28,000 = = months ln(1.0075) Step 1: Compute and store (-$425 over.0075) 425 [+/- ] [ ].0075 [ = ] -56, value of ( - $425 over.0075) [STO] 1-56, stored in register 1 Step 2: Compute and store the bottom half of the numerator [ - ] 28,000 [ = ] -84, value of the bottom half of the numerator [STO] 2-84, stored in register 2 Step 3: Compute and store the value of the entire numerator [RCL] 1-56, recall value of ( - $425 over.0075) [ - ] 3,000 [ = ] -59, value of the top half of the numerator [ ] [RCL] 2-84, recall bottom half of the numerator [ = ] 0.70 total value inside of large brackets [GOLD] [MATH] LN the natural log of the previous value [+/-] [STO] entire numerator stored in register 3 Step 4: Compute and store the value of the main denominator [GOLD] [MATH] LN 0.01 the natural log of [STO] main denominator stored in register 4 Step 5: Get answer [RCL] recall the value of the entire numerator [ ] [RCL] recall the value of the main denominator [ = ] answer

8 Chapters 14, 15, and 19 Financial calculators The TVM registers are accessed through the FIN menu. To see what is in a TVM register, press [RCL] [ N ], [RCL] [PV], etc. To access the P/YR setting and the mode (begin or end), press OTHER. TVM problems throughout the tet assume the period per year (P/YR) setting is 1. Keystrokes assume calculator starts out in End mode. Eample 1 of Unit 14.2 Sebastian Xavier is a soda pop addict and wonders how much money he could accumulate if he stopped drinking soda pop and deposited the $150 per month he spends on the stuff into a savings plan. Sebastian just turned 20. If his savings plan earns 6% compounded monthly and his first deposit is a month from now, what amount would he have at retirement, 40 years from now? Step 1: Clear TVM registers FIN TVM [GOLD] [CLEAR DATA] 1 P/YR; END remember: have P/YR at 1 if P/YR 1 or not in End mode OTHER 1 P/YR END [EXIT] 1 P/YR; END we will leave P/YR at 1 throughout tet Step 2: Enter given data 150 [+/-] PMT amount deposited (paid) 40 [ ] 12 [ = ] N total number of periods 6 [ ] 12 [ = ] I%YR 0.50 periodic rate Step 3: Solve for unknown FV 298, ending balance Eample 2 of Unit 14.2 You have the chance to buy a promissory note in which you would receive 28 quarterly payments of $500, starting 3 months from now. If you want to earn 8% compounded quarterly, what price should you pay for the note? Step 1: Clear TVM registers FIN TVM [GOLD] [CLEAR DATA] 1 P/YR; END remember: have P/YR at 1 Step 2: Enter given data 28 N total number of periods 8 [ ] 4 [ = ] I%YR 2.00 periodic rate 500 PMT quarterly payment (received) Step 3: Solve for unknown PV -10, amount you can pay to earn 8% compounded quarterly Eample 5 of Unit 14.3 You deposit $100 at the beginning of each year for 4 years, earning 6% compounded annually. Find the balance in 4 years. Step 1: Clear TVM registers FIN TVM [GOLD] [CLEAR DATA] 1 P/YR; END remember: have P/YR at 1 OTHER BEG [EXIT] 1 P/YR; BEGIN change to begin mode Step 2: Enter given data 100 [+/-] PMT amount deposited (paid) 4 N 4.00 total number of pepriods 6 I%YR 6.00 rate Step 3: Solve for unknown FV balance assuming deposits at beginning of each year [OTHER] END [EXIT] 1 P/YR; END put back in end mode

9 Eample 1 of Unit 19.1 Tara got a $160, year mortgage loan at 7.25% on April 1. Calculate her monthly payment. Then, using the amortization registers of your calculator, find interest, principal, and remaining balance for the first two payments. Note: To get accurate results when amortizing, we must have the decimal set at 2 places. FIN TVM [GOLD] [CLEAR DATA] 1 P/YR; END remember: have P/YR at 1 and be in End mode calculate monthly payment 160,000 PV 160, loan amount 15 [ ] 12 [ = ] N months 7.25 [ ] 12 [ = ] I%YR 0.60 periodic rate PMT -1, monthly payment amortize (must have decimal at 2) OTHER AMRT PRESS {#P} asking how many payments to amortize at a time 1 #P PMTS: 1-1 ready to amortize 1 payment at a time INT interest, payment 1 PRIN principal, payment 1 BAL 159, balance after payment 1 NEXT PMTS: 2-2 ready to amortize second payment INT interest, payment 2 PRIN principal, payment 2 BAL 159, balance after payment 2 Note: Don t clear calculator; net eample is a continuation Eample 2 of Unit 19.1 Refer to Eample 1 (above). Calculate interest, principal, and remaining balance for each of the first 3 calendar years. keystrokes (continued) display eplanation TABLE PRINT AMORT TABLE we must give payment numbers to amortize 1 FIRST 8 LAST INCR GO PMTS: 1-8 ready to amortize; wait until timer disappears [EXIT] INT -7, interest, first 8 payments PRIN -4, principal, first 8 payments BAL 155, balance after payment 8 12 #P PMTS: 9-20 ready to amortize net 12 payments (9 through 20) INT -11, interest, second calendar year PRIN -6, principal, second calendar year BAL 149, balance at end of year 2 12 #P PMTS: ready to amortize net 12 payments (21-32) INT -10, interest, third calendar year PRIN -6, principal, third calendar year BAL 142, balance at end of year 3 Note: Don t clear calculator; the net eample is a continuation.

10 Eample 3 of Unit 19.1 Refer to Eamples 1 and 2 (above). Calculate the total interest Tara will pay on her 15-year loan. keystrokes (continued from Eample 2) display eplanation TABLE PRINT AMORT TABLE we must give payment numbers to amortize 1 FIRST 180 LAST INCR GO PMTS ready to amortize; wait until timer disappears [EXIT] INT -102, interest, entire 15 years PRIN -159, principal BAL 0.33* balance Note: Because of rounding each payment to the nearest penny and because interest for each payment is rounded to the nearest penny, the balance after the final payment is rarely $0.00. Tara s final payment will be 33 greater ($1,460.91) so the loan will be fully repaid. Tara will make 179 monthly payments of $1, and a final payment of $1, Eample 6 of Unit 19.2 (Condensed). Tara got a $160,000 mortgage loan at 7.25%. Her total loan costs, for APR purposes, is $8,060. Assume Tara will pay off the loan at the end of 7 years. Calculate her real APR, reflecting the early payoff. clear TVM registers FIN TVM [GOLD] [CLEAR DATA] 1 P/YR; END remember: have P/YR at 1 and be in End mode calculate monthly payment 160,000 PV 160, loan amount 15 [ ] 12 [ = ] N months 7.25 [ ] 12 [ = ] I%YR 0.60 periodic rate PMT -1, monthly payment calculate balance after payment 84 (must have decimal at 2) OTHER AMRT 84 #P PMTS: 1-84 ready to amortize first 84 payments BAL 106, balance after 84 payments have been made [STO] 1 [EXIT] [EXIT] 1 P/YR; END stored unpaid balance [RCL] 1 106, recalled balance [+/-] FV -106, stored in FV register (negative because it will be paid) 84 N number of periods 160,000 [ - ] 8,060 [ = ] PV 151, net proceeds (PV value for APR purposes) I%/YR 0.70 periodic rate [ ] 12 [ = ] 8.35 APR, reflecting the early payoff Eample 1 of Unit 19.5 Four years ago, you purchased some corporate stock for $2,000. You received dividends as follows: $100 at the end of year 1, $150 at the end of year 2, nothing at the end of year 3, and $125 at the end of year 4. Immediately after receiving the final dividend check, you sold the stock for $2,700. What is your annual rate of return? FIN CFLO FLOW(?)=? in cash flow menu [GOLD] [CLEAR DATA] YES FLOW(0)=? data cleared; asking for initial cash flow 2,000 [+/-] [INPUT] FLOW(1)=? initial cash flow entered; asking for net cash flow 100 [INPUT] #TIMES(1)=1 asking to confirm $100 happened only once [INPUT] FLOW(2)=? asking for net cash flow 150 [INPUT] [INPUT] FLOW(3)=? $150 entered; happened once 0 [INPUT] [INPUT] FLOW(4)=? $0 entered; happened once 125 [ + ] 2,700 [ = ] [INPUT] #TIMES(4)=1 total cash flow for year 4 ($2,825) entered [EXIT] CALC IRR% IRR%=12.06 IRR

11 Eample 3 of Unit 19.5 (Condensed). Florence Curtis decides to sell her office supply business. Michael Gabriel offers to buy the business by paying $2,000 at the end of each month for 10 years, followed by $3,000 at the end of each month for 5 years. Assuming that money is worth 8.5% compounded monthly (that is the rate that Florence can earn on her money), what is the present value of Michael s offer? FIN CFLO FLOW(?)=? in cash flow menu [GOLD] [CLEAR DATA] YES FLOW(0)=? data cleared; asking for initial cash flow 0 [INPUT] FLOW(1)=? initial cash flow of $0 entered; asking for net cash flow 2,000 [INPUT] 120 [INPUT] FLOW(2)=? entered $2,000 cash flow; happened 120 times 3,000 [INPUT] 60 [INPUT] FLOW(3)=? entered $3,000 cash flow; happened 60 times [EXIT] CALC 8.5 [ ] 12 [ = ] I% 0.71 periodic rate NPV 223, present value of Michael s offer

12 Enrichment Topic ARMS, GEMS, Etc. Eample 1 You get a 30-year $60,000 ARM. The interest rate is 7.5% for the first year, 8.25% the second year, and 8.125% the third year. Calculate the monthly payment for each year. FIN TVM [GOLD] [CLEAR DATA] 1 P/YR; END remember: have P/YR at 1 and be in End mode calculate payment, year 1 30 [ ] 12 [ = ] N months 7.5 [ ] 12 [ = ] I%YR 0.63 periodic rate 60,000 PV 60, loan amount PMT monthly payment calculate payment, year 2 (decimal must be set at 2) OTHER AMRT 12 #P PMTS: 1-12 ready to amortize first 12 payments BAL 59, balance, end year 1 [STO] 1 [EXIT] [EXIT] 1P/YR; END back to TVM menu [RCL] 1 59, recalled unpaid balance, end year 1 PV 59, treated as a new loan 8.25 [ ] 12 [ = ] I%YR 0.69 periodic rate for year 2 29 [ ] 12 [ = ] N treat as new 29-year loan PMT monthly payment, year 2 calculate payment, year 3 OTHER AMRT 12 #P PMTS: 1-12 ready to amortize net 12 payments BAL 58, balance, end year 2 [STO] 1 [EXIT] [EXIT] 1P/YR; END back to TVM menu [RCL] 1 58, recalled unpaid balance, end year 2 PV 58, treated as a new loan [ ] 12 [ = ] I%YR 0.68 periodic rate for year 2 28 [ ] 12 [ = ] N treat as new 28-year loan PMT monthly payment, year 3 Eample 2 You get an 8% $3,000 loan from your Aunt Matilda to replace your leaky roof. You agree to repay her $150 per quarter for the first 2 years. After you finish college in 2 years, you will increase the quarterly payment to $300. How long will it take to pay off the loan? FIN TVM [GOLD] [CLEAR DATA] 1 P/YR;END remember: have P/YR at 1 and be in End mode input data, first 2 years 8 [ ] 4 [ = ] I%YR 2.00 periodic rate 3,000 PV 3, loan amount 150 [+/-] PMT quarterly payment, first 2 years payment changes to $300 (decimal must be set at 2) OTHER AMRT 8 #P BAL 2, balance, end year 2 [STO] 1 [EXIT] [EXIT] 1P/YR;END back to main menu RCL 1 2, recalled balance, end year 2 PV 2, treated as a new loan 300 [+/-] PMT change payment N 8.12 remaining number of payments [ + ] 8 [ = ] add first 8 payments = total payments [ ] 4 [ = ] 4.03 years

13 Related Topic Sample Studies Eample 2 (Condensed) A tent manufacturing company observes 6 sewing specialists and records the time it takes each to sew a tent: 83 minutes, 77 minutes, 91 minutes, 73 minutes, 80 minutes, and 82 minutes. Calculate the mean, median, range, sample standard deviation, and population standard deviation. SUM [GOLD] [CLEAR DATA] YES ITEM(1)=? in statistics menu; previous amounts cleared 83 [INPUT] ITEM(2)=? first value entered 77 [INPUT] ITEM(3)=? second value entered 91 [INPUT] ITEM(4)=? third value entered 73 [INPUT] ITEM(5)=? fourth value entered 80 [INPUT] ITEM(6)=? fifth value entered 82 [INPUT] ITEM(7)=? sith value entered [EXIT] CALC MEAN mean MEDN median RANG range STDEV 6.10 sample standard deviation MEAN [STO] preparing to find population standard deviation * [EXIT] [RCL] 1 [INPUT] ITEM(8)=? required step to find population standard deviation [EXIT] CALC STDEV 5.57 population standard deviation * Note: STDEV key is for a standard deviation for a sample study, and therefore is based on the number of entries minus 1; to get a standard deviation for a population study, we must add the mean to the list, which increases the number of entries by 1.

14 Related Topic Linear Regression Eamples 2-4 Lofgren s Furniture Store advertises in a regional newspaper. Historical data is shown in the table below. Estimate weekly sales based on the following advertising: (a) none, (b) 40 sq in., and (c) 100 sq in. Then find (d) how many sq in. of advertising are required for $10,000 of weekly sales. Determine (e) the b-value, and (f) the m-value of the regression line. Finally, determine (g) the correlation coefficient. week sq in. of advertising sales 1 25 $5, $8, $6, $6, $8,700 In the eamples, it is assumed names have not yet been given. To check the list of names, press GET (after you are in the SUM menu) and review the list of names. If the name you want appears, select it. Then, there is no need to enter a name later. If the name you want does not appear, press *NEW and name the list later. SUM [GOLD] [CLEAR DATA] YES ITEM(1)=? in statistics menu; previous amounts cleared 25 [INPUT] 55 [INPUT] first 2 advertising values entered 30 [INPUT] 30 [INPUT] net 2 advertising values entered 70 [INPUT] all advertising values now entered [EXIT] NAME TYPE A NAME must name the set of data; let s use AD ABCDE A ABCDE D AD name selected [INPUT] GET *NEW ITEM(1)=? ready to enter sales data 5,700 [INPUT] 8,000 [INPUT] 13, first 2 sales values entered 6,700 [INPUT] 6,000 [INPUT] 26, net 2 sales values entered 8,700 [INPUT] 35, all sales data now entered [EXIT] NAME TYPE A NAME let s name the set SALE RSTUV S ABCDE A SA first two letters selected JKLM L ABCDE E SALE name selected [INPUT] CALC MORE FRCST X VARIABLE asking name for independent variable AD Y VARIABLE asking name for dependent variable SALE LINEAR ready to do linear forecasting 0 AD SALE 4, estimated sales based on 0 sq in. of advertising 40 AD SALE 6, estimated sales based on 40 sq in. of advertising 100 AD SALE 10, estimated sales based on 100 sq in. of advertising 10,000 SALE AD sq in. of advertising needed for $10,000 of sales B 4, b-value of regression line M m-value [GOLD] [SHOW] hold down awhile m-value with more decimal places CORR 0.97 correlation coefficient

15 Eample 5 You own a theater comple, and are preparing budgets for the upcoming 2 years. Ticket revenues for the last 5 years are as follows: $862,400 (year 1), $847,800 (year 2), $908,500 (year 3), $1,072,400 (year 4), and $1,208,000 (year 5). Assuming that movie attendance and ticket price trends continue, project ticket revenues for the net 2 years. Then, find the correlation coefficient to determine the quality of the trend. SUM [GOLD] [CLEAR DATA] YES ITEM(1)=? in statistics menu; previous amounts cleared 1 [INPUT] 2 [INPUT] 3.00 first 2 years entered 3 [INPUT] 4 [INPUT] net 2 years entered 5 [INPUT] all 5 years now entered [EXIT] NAME TYPE A NAME must name the set of data; let s use YR WXYZ Y RSTUV R YR name selected [INPUT] GET *NEW ITEM(1)=? ready to enter ticket revenues 862,400 [INPUT] 847,800 [INPUT] 1,710, revenues for first 2 years entered 908,500 [INPUT] 1,072,400 [INPUT] 3,691, revenues for net 2 years entered 1,208,000 [INPUT] 4,899, revenues for all 5 years entered [EXIT] NAME TYPE A NAME must name the set of data; let s use REV RSTUV R ABCDE E RSTUV V REV name selected [INPUT] CALC MORE FRCST SELECT X asking name for independent variable YR SELECT Y asking name for dependent variable REV LINEAR ready to do linear forecasting 6 YR REV 1,254, estimated ticket revenues for year 6 7 YR REV 1,346, estimated ticket revenues for year 7 CORR 0.93 correlation coefficient