Ch 1 Ivy Software Business Math & Stats ACTUAL UPDATED QUESTIONS AND
CORRECT ANSWERS
Equation Mathematical statement in which 2 expression are set equal to each other
Coefficient number in front of unknown variable
Monomial expression with one term, 7x^2
Polynomial expression with more than one term, 7x^4+10x^2+8
simultaneous equations 2 or more variables to solve given 2 or more equations
variable cost incurred by a company depending on how much is produced, varies with
production
direct labor certain labor is considered a variable cost when the need for that labor is
dependent on whether a product is built or not, ex. wages of workers
indirect labor labor not dependent on product being built ex. salaries of accounting staff
CORRECT ANSWERS
Equation Mathematical statement in which 2 expression are set equal to each other
Coefficient number in front of unknown variable
Monomial expression with one term, 7x^2
Polynomial expression with more than one term, 7x^4+10x^2+8
simultaneous equations 2 or more variables to solve given 2 or more equations
variable cost incurred by a company depending on how much is produced, varies with
production
direct labor certain labor is considered a variable cost when the need for that labor is
dependent on whether a product is built or not, ex. wages of workers
indirect labor labor not dependent on product being built ex. salaries of accounting staff
