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IVY SOFTWARE BUSINESS MATH AND STATISTICS EXAM 2024 NEWEST COMPLETE 200 Qs & As, Exams of Business Statistics

IVY SOFTWARE BUSINESS MATH AND STATISTICS EXAM 2024 NEWEST COMPLETE 200 QUESTIONS AND VERIFIED ANSWERSIVY SOFTWARE BUSINESS MATH AND STATISTICS EXAM 2024 NEWEST COMPLETE 200 QUESTIONS AND VERIFIED ANSWERSIVY SOFTWARE BUSINESS MATH AND STATISTICS EXAM 2024 NEWEST COMPLETE 200 QUESTIONS AND VERIFIED ANSWERSIVY SOFTWARE BUSINESS MATH AND STATISTICS EXAM 2024 NEWEST COMPLETE 200 QUESTIONS AND VERIFIED ANSWERSIVY SOFTWARE BUSINESS MATH AND STATISTICS EXAM 2024 NEWEST COMPLETE 200 QUESTIONS AND VERIFIED ANSWERSIVY SOFTWARE BUSINESS MATH AND STATISTICS EXAM 2024 NEWEST COMPLETE 200 QUESTIONS AND VERIFIED ANSWERS

Typology: Exams

2024/2025

Available from 01/21/2025

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IVY SOFTWARE BUSINESS MATH AND STATISTICS

EXAM 2024 NEWEST COMPLETE 200 QUESTIONS AND

CORRECT DETAILED ANSWERS (VERIFIED

ANSWERS) |ALREADY GRADED A+|| BRAND NEW!!

Which of the following is the monomial expression? A) 4x^3 + 6x^4 +12x^3 + 45x^4 + B) 143x^4 + 3x^ C) 143x^4 + 78x^4 + 6x^4 + 76 - ....ANSWER...B) 143x^4 + 3x^4 - its the only term where the x's can be added together to get one term Write an equation to related total cost to number of driveways paved. Asphalt, tar & concrete/driveway = $7, Direct Labor/Driveway = $12, Office Expenses & Other Labor = $5,000 - ....ANSWER...y = 19x + 5

Which of the following is the binomial expression? A) 4x^3 + 6x^4 +12x^3 + 45x^4 + B) 143x^4 + 3x^ C) 143x^4 + 78x^4 + 6x^4 + 76 - ....ANSWER...C) 143x^4 + 78x^4 + 6x^4 + 76 - tis the only term where the x's can be added together to get two terms Which of the following is the trinomial expression? A) 4x^3 + 6x^4 +12x^3 + 45x^4 + B) 143x^4 + 3x^ C) 143x^4 + 78x^4 + 6x^4 + 76 - ....ANSWER...A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6 - its the only term where the x's can be added together to get three terms True/False: the Contribution Margin is the amount that can be contributed to fixed costs. - ....ANSWER...True: the contribution margin is the amount the company receives from the sales of its product minus the product's variable costs. Therefore, the amount remaining (after variable costs) can be used to pay the company's fixed costs. True/False: When the following equation hold true, we are at the breakeven level in dollars:

Sales - Variable Costs = Fixed Costs - ....ANSWER...True True/False: for the equation 2x - 3y = 6, the x and y intercepts are x=3, y=- 2 - ....ANSWER...True When solving for an unknown variable that has a number preceding it, you will divide both sides of the equation by this number, which is known as the: A) base B) power C) exponent D) coefficient E) none of the above - ....ANSWER...D) coefficient To separate an unknown variable from its exponent one should: - ....ANSWER...multiply the exponent by its inverse Which of the following are fixed costs: Sales, office payroll (receptionist & bookeeper), advertising, home remodeling, office remodeling, sales commission, interest expense - ....ANSWER...office payroll, advertising, office remodeling, interest expense

Given these two equations, solve for x and y: 8x = 2y + 36 and 9y = 3x + 3 - ....ANSWER...(5,2) What is the correct order for separating, ordering and organizing of expressions? A) parentheses, brackets, braces, parentheses, and so on.... B) brackets, braces, parentheses, brackets, and so on.... C) braces, parentheses, brackets, braces, and so on.... - ....ANSWER...A) parentheses, brackets, braces, parentheses, and so on.... The graph for the equation y = 2x would look like: a. a vertex. b. two straight lines. c. a parabola. d. none of the above. - ....ANSWER...d. none of the above.

  • it would be one straight line Solve for x: (2x + 3)/5 + (x +1)/4 = a. 13/ b. - 1 c. 23/ d. 20/12 - ....ANSWER...c. 23/

x^5 = 32 solve for x - ....ANSWER...x = 2 2^x = 16 solve for x - ....ANSWER...x = 4 Solve for x and y for these simultaneous equations: 3x = 14-5y 7x+2y = 23 - ....ANSWER...x = 3 y = 1 Equation for Total Cost - ....ANSWER...Total costs = (variable cost per unit * number of units produced) + Fixed Costs Material $75/television Direct Labor $40/television New Manufacturing Equipment $1,500, Modifications to Factory $3,000, If this company is considering building 10,000 units this year (and needs money for the entire year allotted to it now

for this purpose), for how much should the president ask? - ....ANSWER...$ 5,650, Contribution Margin - ....ANSWER...(price per unit X * # of units sold) - (variable cost per unit X * units sold) Breakeven - ....ANSWER...Breakeven = Fixed Costs/Contribution Margin per unit A company is making a product and has invested $100, on an advertising campaign and $75,000 each on five salespeople (annual salary, including benefits and support). These are the only fixed costs that the company has assigned to the product, and the contribution margin per unit is $50. To cover those fixed costs, how many units will the company have to sell to breakeven? - ....ANSWER...[($75,000*5) + $100,000] / $50/unit = 9,500 (breakeven level in units) abscissa - ....ANSWER...The x-coordinate of a point (independent variable) ordinate - ....ANSWER...The y-coordinate of a point (dependent variable)

True/False: the fixed costs for a certain project are $50 and it costs $2 to produce one unit. The equation that relates y (total costs) to x (total number of units produced) is y = 2

  • 50x - ....ANSWER...False. It would be y = 50 + 2x True/False: The fixed costs for a certain project are $ and it costs $2 to produce one unit. The equation that relates y (total costs) to x (total number of units produced) is y = 50 + 2x. - ....ANSWER...True A man buys 3 burgers and 2 jumbo deluxe fries for $7.40. A woman buys one burger and 4 jumbo deluxe fries for $7.80. How much is the burger and how much are the fries? Select one: a. Burger = $1.40, Fries = $1. b. Burger = $1.50, Fries = $1. c. Burger = $2.80, Fries = $2. d. Burger = $2.00, Fries = $2.80 - ....ANSWER...a. Burger = $1.40, Fries = $1. True/False: When the following equation holds true, we are not at the breakeven level in dollars: Sales - Variable Costs = Fixed Costs - ....ANSWER...False

2x =32, x is a. 5 b. 4 c. 3 d. none of the above - ....ANSWER...a. 5 Time Series Analysis - ....ANSWER...A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend, cycle, seasonal, and random factor analyses Simple Average - ....ANSWER...Found by adding the values of all the data samples and dividing the sum by the number of samples Moving Average - ....ANSWER...similar to simple average except that this method only incorporates the most recent data samples Weighted Average - ....ANSWER...includes as many data samples as desired and assigns "weights" or measures of importance to each

Weighed moving average - ....ANSWER...A method of combining the moving average and the weighted average Trend Analysis - ....ANSWER...uses past actual values to forecast; however, it is used when there is a noticeable trend over time True/False: When forecasting data that are arranged in time periods, i.e., a time series analysis, there are two different approaches: trend analysis and averaging. - ....ANSWER...True When you develop a string of simple averages by adding a data sample at a new time period and drop the oldest data sample, you have a: A) Moving Average B) Simple Average C) Weighted Average D) Trend Analysis - ....ANSWER...A) Moving Average If you graphed the data points in a particular time series and a relatively flat, horizontal pattern was observed, the method that should be used to forecast the next point in the series would be: A) a horizontal method B) an averaging method

C) a beta method D) a trend analysis method E) none of the above - ....ANSWER...B) an averaging method True/False: If the data points in a trend line are plotted on a graph, a trend line can be fitted to the data using the least squares method. - ....ANSWER...True. The least squares method attempts to find the line which minimizes the sum of the squared deviations (distances) of the data points to the trend line. in the formula y = a + bx, what is b? - ....ANSWER...B is the slope in the formula y = a + bx, what is a? - ....ANSWER...a is the y-intercept How do you calculate y in y = a + bx? - ....ANSWER...y is the sum of y divided by n How do you calculate x in y = a + bx? - ....ANSWER...x is the sum of x divided by n

Which of the following statements is false? A) Simple averaging considers all data samples equally B) Using simple averaging when data samples have a lot of variability will provide accurate forecasts C) Simple averaging is easy to understand and apply - ....ANSWER...B) Using simple averaging when data samples have a lot of variability will provide accurate forecasts True/False: Allison's time-series data for periods 1 through 7 were used to develop a trend line. She cannot use the trend line to predict a point for period 8 - ....ANSWER...False When you develop a string of simple averages by adding a data sample at a new time period and dropping the oldest data sample you have a: a. Moving Average. b. Simple Average. c. Weighted Average. d. Trend Analysis. - ....ANSWER...a. Moving Average. True/False: In the weighted average technique, all the examples given in the text place the heavier weights on the earliest data. - ....ANSWER...False

The Atlanta Braves marketing staff knows it has 20, seats in the stadium priced at $20 per ticket, 13,000 priced at $30 per ticket, and 17,000 priced at $50 per ticket. Jim says that the marketing materials should say that average ticket price is $30, Jill says it should be $33, and Fred says it should be $35.20. Who is most correct? a. Jim b. Jill c. Fred d. none of the above - ....ANSWER...b. Jill When analyzing data where a steady increase or decrease over time can be observed, which method of forecasting would best fit and would probably predict a similar increase or decrease? a. Modified Trend Method b. Weighted Series Method c. Trend Analysis Method d. Normal Curve Method e. Moving Average Method - ....ANSWER...c. Trend Analysis Method Weighting factors for a weighted moving average forecast a. weight the most recent data heaviest.

b. weight the oldest data heaviest. c. weight all the data the same. d. weight the data in accordance with natural business cycles. - ....ANSWER...a. weight the most recent data heaviest. When gathering times series data for a trend analysis, it is important to collect the data at the same time each period because a. it's easier to remember. b. it reduces variation. c. it increases accuracy. d. all of the above. e. none of the above. - ....ANSWER...d. all of the above. Scatter Diagram - ....ANSWER...displays data of two variables. Similar to those done in time series except that the data follows no clear progression through time. True/False: A regression analysis attempts to find the line through a scatter of data points which minimizes the sum of the squared deviations of the points from the line. - ....ANSWER...True. The line that minimizes the sum of the

squared deviations of the data points from it is referred to as having the best fit. True/False: The coefficient of determination is the unexplained variation divided by the total variation. - ....ANSWER...False: it is the explained variation divided by the total variation. True/False: Suppose that two judges, Bill and Ted, each score five competitive divers using a scale from 1 to 10 (with 10 being the best). The correlation coefficient between Bill's and Ted's scores is 1, which means that Bill and Ted gave the divers the same score. - ....ANSWER...False. The correlation coefficient measures the strength of a linear relationship between Bill & Ted's scores, not whether one's scores are lower or higher or the same as the other's scores. For example, a correlation coefficient of 1 could be obtained by Ted giving scores of 1,2,3,4,5 and Bill giving scores of 2,4,6,8,10 to the same divers. True/False: the residual is the difference between the actual value and the predicted value of a dependent variable. - ....ANSWER...True: The difference between the

Y-value of a data point and the predicted value corresponding to it on the regression line is called the residual. True/False: if r^2 of 0.5 means that as x goes up, y goes down, and vice versa. - ....ANSWER...False: r^2 is the coefficient of determination, which tells us how much of the scatter of data points is explained by the regression model. The coefficient of correlation (r) would tell us which way the y would change (increase or decrease) as x changes. Zero-one or dummy variable - ....ANSWER...One that cannot be given a numerical value True/False: a correlation coefficient of - 2 means that as x goes up, so does y. - ....ANSWER...False: a negative correlation coefficient means that as x increases, y decreases. Also, it is not possible to have - 2 as a correlation coefficient. Susan wants to study the effect of water on the growth of flowers in her garden. She determines a regression line where water is the independent variable (measured in fluid ounces) and flower growth is the dependent variable (measured in cm). If one of her flowers is 40 cm tall, and

the regression line is y = 15 + 5x, estimate how many fluid ounces of water it has been given. A) 20 B) 215 C) 5 D) 115 - ....ANSWER...C) 5 Plug 40 cm in for y and solve for x. True/False: In a study, the correlation coefficient between class attendance and grades for a group of students was 0.18. Thus 3.24% of the variation in grades was explained by differences in class attendance. - ....ANSWER...True. The coefficient of determination is the square of the correlation coefficient. Dependent variable - ....ANSWER...The variable the forecaster wishes to predict True/False: Simple regression is made up of one independent and one dependent variable, while multiple regression is made up of one independent and many dependent variables. - ....ANSWER...False: multiple regression is made up of one dependent and many independent variables.

Edna's T-ratio is less than 2 for the constant term in her regression equation. She should be: A) looking for another set of data since she cannot use this one. B) very concerned. C) not very concerned. D) None of the above. - ....ANSWER...C) not very concerned T-statistics less than 2 are an area of concern for the coefficient of the independent variable because they may indicate a zero coefficient. A zero coefficient means there is no relationship between the independent and dependent variables. On the other hand, the constant term has no particular significance to the analyst and can enjoy a low T-ratio. Jamie's regression equation shows a correlation between X3 (the T-ratio is 5) and X4 (The T-ratio is 12) of 0.4. He should: A) throw both variables out B) keep both C) Throw out X3, keep X D) Throw out X4, keep X

E) None of the above - ....ANSWER...B) Keep both This question addresses multicollinearity. How high is high? While 0.4 appears to be high, the T-ratios are large, indicating believable coefficients for X3 and X4, therefore we should keep both. True/False: A low T-ratio for the coefficient of an independent variable is a concern because it indicates that the true coefficient may be zero or close to zero. - ....ANSWER...True. The T-ratio measures the number of standard deviations from zero of the coefficient of the independent variable. Many analysts use 2 as the magic number. If the T-ratio is less than 2, it indicates that the coefficients may be zero and there is no relationship between the independent and dependent variables. True/False: A regression equation can have a negative coefficient of correlation, but a positive coefficient of determination. - ....ANSWER...True The coefficient of correlation is the square root of the coefficient of determination, and the square root has both positive and negative possibilities.

True/False: In multiple regression, all independent variables are independent, i.e. they do not interact with one another. - ....ANSWER...False There are always some interactions between independent variables. If you have a coefficient of determination of 0.49, in simple regression, what is the coefficient of correlation? A) 0. B) 0. C) 0. D) None of the above - ....ANSWER...D) None of the above Since we do not know the slope (+/-), we do not know if the answer is a +0.7 or - 0. A regression model has the equation: Y = 7(x1) + 4(x2) + 9(x3) + 17 with 75 observations. How many degrees of freedom are there in this model? A) 75 B) 70 C) 71 D) None of the above - ....ANSWER...C) 71

Determined by taking the number of observations (75) and subtracting 1 plus the number of independent variables in the model (3). 75 - 1 + 3 = 71 Which of the following is a dummy variable? Select one: a. fish weight b. fish length c. fish species d. None of these make sense - ....ANSWER...c. fish species True/False: A simple regression involves a single independent variable. - ....ANSWER...True A coefficient of determination of 0.94 for a regression analysis would indicate Select one: a. 6% of the variation is explained by the regression equation b. 94 % of the variation is not explained by the regression equation c. 94% of the variation is explained by the regression equation

d. 6% of the variation is random - ....ANSWER...c. 94% of the variation is explained by the regression equation Coefficient of determination = explained variation/total variation, or r^2 = EV/TV A real estate agent says he can approximate the value of a house through the following equation: SP = 125,000 + 3000BR + 500BDR + 4000WC - 6000P; where BR= # of bathrooms, BDR= # bedrooms, WC =Wine cellar and P=Pool. The best selling price estimate for a 3 bedroom, 2 bath house with a wine cellar and pool is Select one: a. $133,000 b. $132,500 c. $131,000 d. $130,500 - ....ANSWER...d. $130,500 A typing instructor builds a regression model to investigate what factors determine typing speed for students with two months of instruction. Her regression equation looks like: Y' = 11 + 7x1 + 5x2 + 3x3 where: Y' = typing speed in words per minute; x1= hours of instruction per week; x2= hours of practice per week; x3 = hours of typing per week necessary for school or work; A new student is taking 2 hrs of typing instruction per week, will practice 5 hrs per week

and must type 2.5 hours per week for work. If the standard error of the estimate is 2, within what range do we have a 95.45% probability that that student's typing speed will be in two months? Select one: a. 53.5 and 61.5 words per minute b. 49.5 and 65.5 words per minute c. 57.5 and 65.5 words per minute d. none of the above - ....ANSWER...a. 53.5 and 61.5 words per minute I do not know how to calculate this. A study is being made of the relationship between seniority, i.e., years of service with the company, and the number of workdays absent per year. The following regression line is derived from the data: Days Absent = 9.44 - 1.09(Years Employed) The best estimate of the number of times a 5-year employee will be absent is Select one: a. 8.35 b. 3.99 c. 5.45 d. None of these make sense - ....ANSWER...b. 3.99 I do not know how to calculate this.

True/False: A researcher believes, among other things, the town one lives in within the state influences the likelihood of contracting cancer. He has data from three towns and has decided to code the towns as follows X = Town, where: X = 0 if C'burg, X = 1 if B'burg, X = 2 if L'burg. This is an appropriate means for including qualitative data into his analysis. - ....ANSWER...False True/False: Unlike regression, trend analysis limits the prediction of the unknown variable to historical levels of the same variable. - ....ANSWER...True For trend analysis, its just time-based True/False: Regression limits the prediction of the unknown variable to historical levels of that same variable.

  • ....ANSWER...False Let us imagine that the number of automobile accidents in a certain region are related to the regional number of registered automobiles in tens of thousands (b1), alcoholic beverage sales in $10,000 (b2), and decrease in the price of gasoline in cents (b3). Furthermore, imagine that the regression formula has been calculated as: Y = a + b1X1 + b2X2 + b3X3 where Y = the number of automobile accidents, a = 7.5, b1 = 3.5, b2 = 4.5, and b3 = 2.5 Calculate the expected number of automobile accidents for

a football weekend if the region has 25,000 registered vehicles, $75,000 worth of beer is sold, and a gas war causes a 10 cent drop in a gallon of gas. Select one: a. 75 b. 475 c. 45 d. 306 - ....ANSWER...a. 75 I did not get this answer. True/False: A distribution that is not a normal distribution still has a standard deviation - ....ANSWER...True True/False: The mode of a probability distribution is the most likely outcome. - ....ANSWER...True Tracy flips a coin five times. What is the probability of that coin landing tails up exactly two or more of those five times? A) 0.3125 B) 0.1875 C) 0.8125 D) 0.5 - ....ANSWER...C) 0.8125 You would find the answer in the table (Appendix B) of the Probability of Individual Success, where n = 5 tries, r = 2 outcomes and 0.5 (two sides of a coin) = 0.3125.

Then, add it to the probabilities of two or more success: 0.3125 + 0.31250 + 0.15625 + 0.03125 = 0.8125 There are 50 people in a room. The probability that a person in the room has brown hair is 0.80. Of these people with brown hair, 40% of them have brown eyes. How many people in the room have brown hair but do not have brown eyes? - ....ANSWER...24 people True/False: Z-score is (plus or minus) the number of standard deviations that an observation is away from the mean. - ....ANSWER...True. True/False: Standard deviation is a measure of spread or dispersion - ....ANSWER...True. Standard Deviation measures the Variance, which measures spread and dispersion. Kate is an avid bowler. Her bowling scores are normally distributed with a mean of 186 and a standard deviation of

  1. She is in a tournament and needs to bowl a 150 or greater for her team to win. If not, her team will lose. What is the probability that her team will win? - ....ANSWER...0.93319 Find the z-score, (150-186)/24 = - 1.5