There Are 27,307 Undergraduate Students Enrolled at a Certain University

question 1

Multiple Choice

There are 27,307 undergraduate students enrolled at a certain university. The age distribution is as follows:
$\begin{array} { c c } \hline \text { Age Range } & \text { Number } \\\hline 13 - 14 & 3 \\15 - 17 & 34 \\18 - 22 & 11,450 \\23 - 30 & 9488 \\31 \text { and up } & 6332 \\\hline \text { Total } & 27,307\end{array}$
What is the probability that a student is between 23 and 30 years old?

• A)0.347
• B)0.579
• C)0.421
• D)0.232

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Definitions:

Strip Bond

A bond where both the principal and regular coupon payments have been separated and are sold individually as zero-coupon bonds.

Compounded Semiannually

Refers to the process where interest on a deposit or loan is calculated and added to the account balance twice a year.

Maturity Date

The date on which the principal amount of a loan, bond, or other financial instrument is due to be paid in full.

Yield

The income return on an investment, such as the interest or dividends received from holding a particular security.