YoIVY SOFTWARE BUSINESS MATH AND STATISTICS EXAM QUESTIO
Business Math & Statistics - Ivy Software
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1. x^5 = 32 x=2
solve for x
2. 2^x = 16 x=4
solve for x
3. Solve for x and y for these simultaneous equa- x=3
tions: y=1
3x = 14-5y
7x+2y = 23
4. Equation for Total Cost Total costs = (variable cost per
unit * number of units pro-
duced) + Fixed Costs
5. Material $75/television $ 5,650,000
Direct Labor $40/television
New Manufacturing Equipment $1,500,000
Modifications to Factory $3,000,000
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?
6. Contribution Margin (price per unit X * # of units
sold) - (variable cost per unit X
* units sold)
7. Breakeven Breakeven = Fixed Costs/Con-
tribution Margin per unit
8. A company is making a product and has invested
$100,000 on an advertising campaign and $75,000
, Business Math & Statistics - Ivy Software
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each on five salespeople (annual salary, including [($75,000*5) + $100,000] /
benefits and support). These are the only fixed $50/unit = 9,500 (breakeven
costs that the company has assigned to the prod- level in units)
uct, and the contribution margin per unit is $50.
To cover those fixed costs, how many units will the
company have to sell to breakeven?
9. abscissa The x-coordinate of a point (in-
dependent variable)
10. ordinate The y-coordinate of a point
(dependent variable)
11. True/False: the fixed costs for a certain project are False. It would be y = 50 + 2x
$50 and it costs $2 to produce one unit. The equa-
tion that relates y (total costs) to x (total number of
units produced) is y = 2 + 50x
12. Which of the following is the monomial expres- B) 143x^4 + 3x^4 - its the
sion? only term where the x's can
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6 be added together to get one
B) 143x^4 + 3x^4 term
C) 143x^4 + 78x^4 + 6x^4 + 76
13. Write an equation to related total cost to number y = 19x + 5
of driveways paved.
Asphalt, tar & concrete/driveway = $7,000
Direct Labor/Driveway = $12,000
Office Expenses & Other Labor = $5,000
14. Which of the following is the binomial expression? C) 143x^4 + 78x^4 + 6x^4 + 76
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6 - tis the only term where the x's
, Business Math & Statistics - Ivy Software
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B) 143x^4 + 3x^4 can be added together to get
C) 143x^4 + 78x^4 + 6x^4 + 76 two terms
15. Which of the following is the trinomial expression? A) 4x^3 + 6x^4 +12x^3 + 45x^4
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6 +6 - its the only term where the
B) 143x^4 + 3x^4 x's can be added together to
C) 143x^4 + 78x^4 + 6x^4 + 76 get three terms
16. True/False: the Contribution Margin is the amount True: the contribution margin
that can be contributed to fixed costs. is the amount the company
receives from the sales of its
product minus the product's
variable costs. Therefore, the
amount remaining (after vari-
able costs) can be used to pay
the company's fixed costs.
17. True/False: When the following equation hold true, True
we are at the breakeven level in dollars:
Sales - Variable Costs = Fixed Costs
18. True/False: for the equation 2x - 3y = 6, the x and y True
intercepts are x=3, y=-2
19. When solving for an unknown variable that has a D) coefficient
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
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20. To separate an unknown variable from its exponent multiply the exponent by its in-
one should: verse
21. Which of the following are fixed costs: Sales, of- office payroll, advertising, of-
fice payroll (receptionist & bookeeper), advertis- fice remodeling, interest ex-
ing, home remodeling, office remodeling, sales pense
commission, interest expense
22. Given these two equations, solve for x and y: (5,2)
8x = 2y + 36 and 9y = 3x + 3
23. What is the correct order for separating, ordering A) parentheses, brackets,
and organizing of expressions? braces, parentheses, and so
A) parentheses, brackets, braces, parentheses, and on....
so on....
B) brackets, braces, parentheses, brackets, and so
on....
C) braces, parentheses, brackets, braces, and so
on....
24. The graph for the equation y = 2x would look like: d. none of the above. - it would
a. a vertex. be one straight line
b. two straight lines.
c. a parabola.
d. none of the above.
25. Solve for x: (2x + 3)/5 + (x +1)/4 =2 c. 23/13
a. 13/20
b. -1
c. 23/13
d. 20/12
Business Math & Statistics - Ivy Software
AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
Study online at https://quizlet.com/_hbqjzz
GRADED A+|| BRAND NEW!!ur text here 1
1. x^5 = 32 x=2
solve for x
2. 2^x = 16 x=4
solve for x
3. Solve for x and y for these simultaneous equa- x=3
tions: y=1
3x = 14-5y
7x+2y = 23
4. Equation for Total Cost Total costs = (variable cost per
unit * number of units pro-
duced) + Fixed Costs
5. Material $75/television $ 5,650,000
Direct Labor $40/television
New Manufacturing Equipment $1,500,000
Modifications to Factory $3,000,000
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?
6. Contribution Margin (price per unit X * # of units
sold) - (variable cost per unit X
* units sold)
7. Breakeven Breakeven = Fixed Costs/Con-
tribution Margin per unit
8. A company is making a product and has invested
$100,000 on an advertising campaign and $75,000
, Business Math & Statistics - Ivy Software
Study online at https://quizlet.com/_hbqjzz
each on five salespeople (annual salary, including [($75,000*5) + $100,000] /
benefits and support). These are the only fixed $50/unit = 9,500 (breakeven
costs that the company has assigned to the prod- level in units)
uct, and the contribution margin per unit is $50.
To cover those fixed costs, how many units will the
company have to sell to breakeven?
9. abscissa The x-coordinate of a point (in-
dependent variable)
10. ordinate The y-coordinate of a point
(dependent variable)
11. True/False: the fixed costs for a certain project are False. It would be y = 50 + 2x
$50 and it costs $2 to produce one unit. The equa-
tion that relates y (total costs) to x (total number of
units produced) is y = 2 + 50x
12. Which of the following is the monomial expres- B) 143x^4 + 3x^4 - its the
sion? only term where the x's can
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6 be added together to get one
B) 143x^4 + 3x^4 term
C) 143x^4 + 78x^4 + 6x^4 + 76
13. Write an equation to related total cost to number y = 19x + 5
of driveways paved.
Asphalt, tar & concrete/driveway = $7,000
Direct Labor/Driveway = $12,000
Office Expenses & Other Labor = $5,000
14. Which of the following is the binomial expression? C) 143x^4 + 78x^4 + 6x^4 + 76
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6 - tis the only term where the x's
, Business Math & Statistics - Ivy Software
Study online at https://quizlet.com/_hbqjzz
B) 143x^4 + 3x^4 can be added together to get
C) 143x^4 + 78x^4 + 6x^4 + 76 two terms
15. Which of the following is the trinomial expression? A) 4x^3 + 6x^4 +12x^3 + 45x^4
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6 +6 - its the only term where the
B) 143x^4 + 3x^4 x's can be added together to
C) 143x^4 + 78x^4 + 6x^4 + 76 get three terms
16. True/False: the Contribution Margin is the amount True: the contribution margin
that can be contributed to fixed costs. is the amount the company
receives from the sales of its
product minus the product's
variable costs. Therefore, the
amount remaining (after vari-
able costs) can be used to pay
the company's fixed costs.
17. True/False: When the following equation hold true, True
we are at the breakeven level in dollars:
Sales - Variable Costs = Fixed Costs
18. True/False: for the equation 2x - 3y = 6, the x and y True
intercepts are x=3, y=-2
19. When solving for an unknown variable that has a D) coefficient
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
, Business Math & Statistics - Ivy Software
Study online at https://quizlet.com/_hbqjzz
20. To separate an unknown variable from its exponent multiply the exponent by its in-
one should: verse
21. Which of the following are fixed costs: Sales, of- office payroll, advertising, of-
fice payroll (receptionist & bookeeper), advertis- fice remodeling, interest ex-
ing, home remodeling, office remodeling, sales pense
commission, interest expense
22. Given these two equations, solve for x and y: (5,2)
8x = 2y + 36 and 9y = 3x + 3
23. What is the correct order for separating, ordering A) parentheses, brackets,
and organizing of expressions? braces, parentheses, and so
A) parentheses, brackets, braces, parentheses, and on....
so on....
B) brackets, braces, parentheses, brackets, and so
on....
C) braces, parentheses, brackets, braces, and so
on....
24. The graph for the equation y = 2x would look like: d. none of the above. - it would
a. a vertex. be one straight line
b. two straight lines.
c. a parabola.
d. none of the above.
25. Solve for x: (2x + 3)/5 + (x +1)/4 =2 c. 23/13
a. 13/20
b. -1
c. 23/13
d. 20/12
