IVY SOFTWARE BUSINESS MATH AND STATISTICS EXAM 2024 NEWEST COMPLETE 200 QUESTIONS AND CORR, Exams of Mathematics

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IVY SOFTWARE BUSINESS MATH AND STATISTICS

EXAM 2024 NEWEST COMPLETE 200 QUESTIONS AND

CORRECT DETAILED ANSWERS (VERIFIED

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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:

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

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

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

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

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

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