Business Math & Stats Ivy Software
Exam Questions with Correct Answers
2026
1. coefficient
2. variable
3. constant
4. exponent/ base - CORRECT ANSWER -5x² - 3
coefficient: 5
variable: x
constant: 3
exponent: ², base: x
when solving for an unknown variable that has an exponent, the exponent needs to be
multiplied by it's inverse
transposition - CORRECT ANSWER -changing a term's sign and moving it to the other side of the
equation
algebraic equation - CORRECT ANSWER -solving for an unknown variable
negative exponent - CORRECT ANSWER -multiply that exponent by its inverse
monomial/ polynomial/ trinomial - CORRECT ANSWER -monomial: one term
polynomial: more than one term
, trinomial: three terms
simultaneous equations - CORRECT ANSWER -solving for unknowns in all equations
1. like terms same column
2. multiply equations so they have the same absolute value
3. eliminate unknowns with same absolute value (+ together if signs are unlike, - if they have
same sign)
4. solve
5. find other value by plugging known in
variable cost - CORRECT ANSWER -depends on how much is produced
1. total cost varies with level of production
2. variable cost for each unit is unchanged
ex. direct labor: wages of workers on assembly line
fixed cost - CORRECT ANSWER -not dependent on a product being built
1. total cost remains same with level of production
2. fixed cost for each unit decreases
ex. indirect labor: salaries of accounting staff
total costs - CORRECT ANSWER -variable costs * units of production + fixed costs
Exam Questions with Correct Answers
2026
1. coefficient
2. variable
3. constant
4. exponent/ base - CORRECT ANSWER -5x² - 3
coefficient: 5
variable: x
constant: 3
exponent: ², base: x
when solving for an unknown variable that has an exponent, the exponent needs to be
multiplied by it's inverse
transposition - CORRECT ANSWER -changing a term's sign and moving it to the other side of the
equation
algebraic equation - CORRECT ANSWER -solving for an unknown variable
negative exponent - CORRECT ANSWER -multiply that exponent by its inverse
monomial/ polynomial/ trinomial - CORRECT ANSWER -monomial: one term
polynomial: more than one term
, trinomial: three terms
simultaneous equations - CORRECT ANSWER -solving for unknowns in all equations
1. like terms same column
2. multiply equations so they have the same absolute value
3. eliminate unknowns with same absolute value (+ together if signs are unlike, - if they have
same sign)
4. solve
5. find other value by plugging known in
variable cost - CORRECT ANSWER -depends on how much is produced
1. total cost varies with level of production
2. variable cost for each unit is unchanged
ex. direct labor: wages of workers on assembly line
fixed cost - CORRECT ANSWER -not dependent on a product being built
1. total cost remains same with level of production
2. fixed cost for each unit decreases
ex. indirect labor: salaries of accounting staff
total costs - CORRECT ANSWER -variable costs * units of production + fixed costs
