Write down the Savings Plan Formula and what each of the variables in the formula stands for

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Write down the Savings Plan Formula and what each of the variables in the formula stands for

  • 1)Write down the Savings Plan Formula and what each of the variables in the formula stands for:
  • 2)What is the purpose of the savings plan formula?
  • 3)What is the difference between APR and APY and where would each be applied?
  • 4)Let’s say that you invest $10,000 for 5 years and I tell you that over that time, the percentage change in your investment was 40%, while on a yearly basis, your investment grew by 7.5%.

Which number is the total return and which the annual return?

Give a brief definition of each.

Objective: The purpose of this project is to give you meaningful ways to think about how numbers are used to provide information as well as how they can be misunderstood or misused in ways that lead to confusion.

You will select a medical test that is routinely used to diagnose a disease or a disorder in individuals and then explore how outcomes of the testing may be misleading.

Answer the following questions:

1.What is the medical test you are researching and what disease or condition is this test used for diagnosing?

2.Using a reliable source, find the following rates:

a.False Positive

b.True Positive

c.False Negative

d.True Negative

3.Cite your source. How do you know that the source is reliable?

  • Assume that 1,000 people have taken this particular test. Duplicate the chart below in your report and fill in cell a through i based on your findings in question 4.
  • What can you say about the people that fall into cell b? What are some possible implications?
  • What about those in that fall into cell d? What are some possible implications?
  • Based on your findings, would you feel comfortable taking this exam? How would you feel about the accuracy of your results?

HAS DISEASE/DISORDER

DOES NOT HAVE DISEASE/DISORDER

TOTAL

TESTED POSITIVE

a.

b.

c.

TESTED NEGATVE

d.

e.

f.

TOTAL

g.

h.

i.