Business Math & Statistics - Ivy
Software
"I assume there may be an 80% hazard of me passing this exam" is an example of a:
A) joint chance
B) subjective possibility
C) regular possibility
D) conditional opportunity
E) not one of the above - ANS-B) subjective chance
Probabilities decided through a combination of intuition, expertise, studies and judgement,
inclusive of figuring out the chance of the success of an exam, are subjective chances.
(Chapter four, Illustration four) What is the possibility that Kent will catch three swordfishes
or fewer? - ANS-zero.85
Add up all of the possibilities of three swordfish or fewer: zero.1 + zero.2 + zero.35 + 0.2 =
zero.Eighty five
2^x = sixteen
remedy for x - ANS-x = 4
2x =32, x is
a. 5
b. 4
c. 3
d. Not one of the above - ANS-a. Five
A band of treasure hunters is attempting to decide whether or not eighteenth-century pirates
buried any treasures on a small island. They discern that in the event that they discover any
signs of early agreement on the island that there is a great danger that treasure is buried
there. Which of the following represents the left-maximum event or choice node at the
treasure hunter's selection tree?
A) Pirates bury or do no longer bury their treasure
B) Treasure hunters locate or do now not find signs of settlement
C) Settlement was or was now not built
D) None of the above - ANS-B) Treasure hunters discover or do now not discover signs and
symptoms of agreement
A positive populace is normally disbursed with an average price of forty four. There is a
zero.00135 possibility that the next pattern can have a fee less than 21.Five. What is the
same old deviation of this distribution?
A. 7.Five
,b. 6.7
c. Nine.2
d. Not one of the above
Use the Normal Distribution Probability Table in Ch four, Appendix C - ANS-a. 7.5
A coefficient of willpower of zero.94 for a regression analysis might indicate
Select one:
a. 6% of the version is explained with the aid of the regression equation
b. 94 % of the variant is not explained with the aid of the regression equation
c. Ninety four% of the version is defined by using the regression equation
d. 6% of the variant is random - ANS-c. Ninety four% of the variant is explained via the
regression equation
Coefficient of determination = defined variant/general variant, or
r^2 = EV/TV
A enterprise is creating a product and has invested $one hundred,000 on an advertising
marketing campaign and $75,000 each on 5 salespeople (annual salary, consisting of
benefits and support). These are the most effective constant charges that the employer has
assigned to the product, and the contribution margin consistent with unit is $50. To cowl the
ones fixed costs, what number of devices will the enterprise ought to promote to breakeven?
- ANS-[($75,000*5) + $100,000] / $50/unit = nine,500 (breakeven level in gadgets)
A local artist has 3 civic buildings, one in every of which she desires to paint. If she paints
any of those homes, she will be able to sell the painting to the agency that occupies the
constructing, promote the paining to a non-public collector or donate it to a small museum.
The order for the choice tree would comply with which way?
A) selection node, occasion node
B) event node, selection node, occasion node
C) event node, event node,
D) None of the above - ANS-D) None of the above
It would really be selection node (which constructing to paint), selection node (what to do
with the painting)
A guy buys 3 burgers and a pair of jumbo deluxe fries for $7.Forty. A woman buys one
burger and four jumbo deluxe fries for $7.Eighty. How much is the burger and what kind of
are the fries?
Select one:
a. Burger = $1.40, Fries = $1.60
b. Burger = $1.50, Fries = $1.80
c. Burger = $2.Eighty, Fries = $2.00
d. Burger = $2.00, Fries = $2.80 - ANS-a. Burger = $1.40, Fries = $1.60
A market research survey is available for $10,000. Using a decision tree analysis, it's miles
discovered that the expected economic fee with the survey is $sixty five,000. The expected
, financial fee with out a survey is $sixty two,000. What is the anticipated cost of the facts from
this sample?
A. $three,000
b. $10,000
c. $thirteen,000
d. -$7,000
e. None of the above - ANS-
A actual property agent says he can approximate the cost of a residence thru the following
equation: SP = 125,000 + 3000BR + 500BDR + 4000WC -6000P; where BR= # of lavatories,
BDR= # bedrooms, WC =Wine cellar and P=Pool. The great promoting fee estimate for a
three bed room, 2 bathtub residence with a wine cellar and pool is
Select one:
a. $133,000
b. $132,500
c. $131,000
d. $a hundred thirty,500 - ANS-d. $a hundred thirty,500
A regression version has the equation: Y = 7(x1) + 4(x2) + 9(x3) + 17 with 75 observations.
How many levels of freedom are there on this model?
A) seventy five
B) 70
C) 71
D) None of the above - ANS-C) 71
Determined by using taking the number of observations (75) and subtracting 1 plus the
quantity of independent variables inside the version (3). 75 - 1 + three = seventy one
A look at is being fabricated from the relationship between seniority, i.E., years of provider
with the employer, and the number of workdays absent in keeping with 12 months. The
following regression line is derived from the data: Days Absent = nine.Forty four -1.09(Years
Employed) The fine estimate of the variety of instances a 5-12 months worker may be
absent is
Select one:
a. Eight.35
b. 3.Ninety nine
c. Five.45
d. None of those make sense - ANS-b. 3.99
I do now not recognize how to calculate this.
A survey amongst entrepreneurs shows that the average variety of hours worked per week
is normally distributed with an average of 60 hours and a preferred deviation of 15 hours.
What is the opportunity that the subsequent entrepreneur surveyed will work much less than
30 hours in line with week? (as a percent, to three decimal places)
a. 2.275
b. Zero.023
Software
"I assume there may be an 80% hazard of me passing this exam" is an example of a:
A) joint chance
B) subjective possibility
C) regular possibility
D) conditional opportunity
E) not one of the above - ANS-B) subjective chance
Probabilities decided through a combination of intuition, expertise, studies and judgement,
inclusive of figuring out the chance of the success of an exam, are subjective chances.
(Chapter four, Illustration four) What is the possibility that Kent will catch three swordfishes
or fewer? - ANS-zero.85
Add up all of the possibilities of three swordfish or fewer: zero.1 + zero.2 + zero.35 + 0.2 =
zero.Eighty five
2^x = sixteen
remedy for x - ANS-x = 4
2x =32, x is
a. 5
b. 4
c. 3
d. Not one of the above - ANS-a. Five
A band of treasure hunters is attempting to decide whether or not eighteenth-century pirates
buried any treasures on a small island. They discern that in the event that they discover any
signs of early agreement on the island that there is a great danger that treasure is buried
there. Which of the following represents the left-maximum event or choice node at the
treasure hunter's selection tree?
A) Pirates bury or do no longer bury their treasure
B) Treasure hunters locate or do now not find signs of settlement
C) Settlement was or was now not built
D) None of the above - ANS-B) Treasure hunters discover or do now not discover signs and
symptoms of agreement
A positive populace is normally disbursed with an average price of forty four. There is a
zero.00135 possibility that the next pattern can have a fee less than 21.Five. What is the
same old deviation of this distribution?
A. 7.Five
,b. 6.7
c. Nine.2
d. Not one of the above
Use the Normal Distribution Probability Table in Ch four, Appendix C - ANS-a. 7.5
A coefficient of willpower of zero.94 for a regression analysis might indicate
Select one:
a. 6% of the version is explained with the aid of the regression equation
b. 94 % of the variant is not explained with the aid of the regression equation
c. Ninety four% of the version is defined by using the regression equation
d. 6% of the variant is random - ANS-c. Ninety four% of the variant is explained via the
regression equation
Coefficient of determination = defined variant/general variant, or
r^2 = EV/TV
A enterprise is creating a product and has invested $one hundred,000 on an advertising
marketing campaign and $75,000 each on 5 salespeople (annual salary, consisting of
benefits and support). These are the most effective constant charges that the employer has
assigned to the product, and the contribution margin consistent with unit is $50. To cowl the
ones fixed costs, what number of devices will the enterprise ought to promote to breakeven?
- ANS-[($75,000*5) + $100,000] / $50/unit = nine,500 (breakeven level in gadgets)
A local artist has 3 civic buildings, one in every of which she desires to paint. If she paints
any of those homes, she will be able to sell the painting to the agency that occupies the
constructing, promote the paining to a non-public collector or donate it to a small museum.
The order for the choice tree would comply with which way?
A) selection node, occasion node
B) event node, selection node, occasion node
C) event node, event node,
D) None of the above - ANS-D) None of the above
It would really be selection node (which constructing to paint), selection node (what to do
with the painting)
A guy buys 3 burgers and a pair of jumbo deluxe fries for $7.Forty. A woman buys one
burger and four jumbo deluxe fries for $7.Eighty. How much is the burger and what kind of
are the fries?
Select one:
a. Burger = $1.40, Fries = $1.60
b. Burger = $1.50, Fries = $1.80
c. Burger = $2.Eighty, Fries = $2.00
d. Burger = $2.00, Fries = $2.80 - ANS-a. Burger = $1.40, Fries = $1.60
A market research survey is available for $10,000. Using a decision tree analysis, it's miles
discovered that the expected economic fee with the survey is $sixty five,000. The expected
, financial fee with out a survey is $sixty two,000. What is the anticipated cost of the facts from
this sample?
A. $three,000
b. $10,000
c. $thirteen,000
d. -$7,000
e. None of the above - ANS-
A actual property agent says he can approximate the cost of a residence thru the following
equation: SP = 125,000 + 3000BR + 500BDR + 4000WC -6000P; where BR= # of lavatories,
BDR= # bedrooms, WC =Wine cellar and P=Pool. The great promoting fee estimate for a
three bed room, 2 bathtub residence with a wine cellar and pool is
Select one:
a. $133,000
b. $132,500
c. $131,000
d. $a hundred thirty,500 - ANS-d. $a hundred thirty,500
A regression version has the equation: Y = 7(x1) + 4(x2) + 9(x3) + 17 with 75 observations.
How many levels of freedom are there on this model?
A) seventy five
B) 70
C) 71
D) None of the above - ANS-C) 71
Determined by using taking the number of observations (75) and subtracting 1 plus the
quantity of independent variables inside the version (3). 75 - 1 + three = seventy one
A look at is being fabricated from the relationship between seniority, i.E., years of provider
with the employer, and the number of workdays absent in keeping with 12 months. The
following regression line is derived from the data: Days Absent = nine.Forty four -1.09(Years
Employed) The fine estimate of the variety of instances a 5-12 months worker may be
absent is
Select one:
a. Eight.35
b. 3.Ninety nine
c. Five.45
d. None of those make sense - ANS-b. 3.99
I do now not recognize how to calculate this.
A survey amongst entrepreneurs shows that the average variety of hours worked per week
is normally distributed with an average of 60 hours and a preferred deviation of 15 hours.
What is the opportunity that the subsequent entrepreneur surveyed will work much less than
30 hours in line with week? (as a percent, to three decimal places)
a. 2.275
b. Zero.023
