1.2 Estimation Techniques 9 Research Activities 58. Biometrics Write a report on the use of biometrics as a means for verifying personal identity. Include a variety of biometrics such as fingerprints, iris patterns, DNA, voice recognition, and facial recognition. Also, include in your report a description of how inductive reasoning is used. 59. Inductive Reasoning Using StatCrunch, the internet, magazines, or other sources, gather a set of data that involves a series of years. For two examples of such data, review Exercises 35–36. a) Use a computer spreadsheet such as Excel or StatCrunch to create a graph using the data set. b) Use the graph of the data set to predict the outcomes for the next two years. c) Explain how inductive reasoning was used to reach the conclusion. 60. Jury Decision When a jury decides whether a defendant is guilty or not guilty, do the jurors collectively use primarily inductive reasoning, primarily deductive reasoning, or an equal amount of each? Write a brief report supporting your answer. 54. Lottery Ticket You have purchased one lottery ticket each week for many months and have not won more than $5.00. You decide, based on your past experience, that you are not going to win the grand prize and so you stop playing the lottery. What type of reasoning did you use? Explain. Inductive reasoning; a general conclusion is obtained from observation of specific cases. Challenge Problems/Group Activities 55. Complete the following square of numbers. Explain how you determined your answer. 1 2 3 4 2 5 10 17 3 10 25 52 4 17 52 ? 129; the numbers in positions are determined as follows: a b c + + a b c 56. Determine the next three numbers in the sequence. 1, 8, 11, 88, 101, 111, 181, 808, 818, 888, 1001, 1111, … 1881, 8008, 8118 Recreational Mathematics 57. is to as is to a) b) c) d) e) (c) The cost to rent a campsite is $29 per night plus 7% sales tax. What would be the approximate cost to rent the campsite over Labor Day weekend? The cost to print T-shirts to promote a local charity is $8.99 per T-shirt. What would be the approximate cost to print 150 T-shirts? The payments on a new car would be $409 per month for 48 months. What is the approximate total amount of all these car payments? In this section, we will introduce estimation techniques that will allow us to answer these questions. Estimation Techniques SECTION 1.2 LEARNING GOAL Upon completion of this section, you will be able to: 7 Use estimation techniques to determine an approximate answer to a question. Why This Is Important Estimation techniques are helpful whenever we need to make financial decisions. By making an accurate estimate prior to making a financial decision, we often can make better financial choices and may be able to avoid unpleasant outcomes. AngeliqueD/Shutterstock Charnchai saeheng/123RF
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