Business Math & Statistics - Ivy Software
QUESTIONS WITH ANSWERS
x^5 = 32
solve for x - CORRECT ANSWERS ✔✔x = 2
2^x = 16
solve for x - CORRECT ANSWERS ✔✔x = 4
Solve for x and y for these simultaneous equations:
3x = 14-5y
7x+2y = 23 - CORRECT ANSWERS ✔✔x = 3
y=1
Equation for Total Cost - CORRECT ANSWERS ✔✔Total costs =
(variable cost per unit * number of units produced) + Fixed Costs
Material $75/television
Direct Labor $40/television
New Manufacturing Equipment $1,500,000
Modifications to Factory $3,000,000
If this company is considering building 10,000 units this year (and
needs money for the entire year allotted to it now for this
,purpose), for how much should the president ask? - CORRECT
ANSWERS ✔✔$ 5,650,000
Contribution Margin - CORRECT ANSWERS ✔✔(price per unit X * #
of units sold) - (variable cost per unit X * units sold)
Breakeven - CORRECT ANSWERS ✔✔Breakeven = Fixed
Costs/Contribution Margin per unit
A company is making a product and has invested $100,000 on an
advertising campaign and $75,000 each on five salespeople
(annual salary, including benefits and support). These are the only
fixed costs that the company has assigned to the product, and the
contribution margin per unit is $50. To cover those fixed costs,
how many units will the company have to sell to breakeven? -
CORRECT ANSWERS ✔✔[($75,000*5) + $100,000] / $50/unit =
9,500 (breakeven level in units)
abscissa - CORRECT ANSWERS ✔✔The x-coordinate of a point
(independent variable)
ordinate - CORRECT ANSWERS ✔✔The y-coordinate of a point
(dependent variable)
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 - CORRECT
ANSWERS ✔✔False. It would be y = 50 + 2x
,Which of the following is the monomial expression?
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6
B) 143x^4 + 3x^4
C) 143x^4 + 78x^4 + 6x^4 + 76 - CORRECT ANSWERS ✔✔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 = $7,000
Direct Labor/Driveway = $12,000
Office Expenses & Other Labor = $5,000 - CORRECT ANSWERS
✔✔y = 19x + 5
Which of the following is the binomial expression?
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6
B) 143x^4 + 3x^4
C) 143x^4 + 78x^4 + 6x^4 + 76 - CORRECT ANSWERS ✔✔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 +6
B) 143x^4 + 3x^4
C) 143x^4 + 78x^4 + 6x^4 + 76 - CORRECT ANSWERS ✔✔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. - CORRECT ANSWERS ✔✔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:
Sales - Variable Costs = Fixed Costs - CORRECT ANSWERS ✔✔True
True/False: for the equation 2x - 3y = 6, the x and y intercepts are
x=3, y=-2 - CORRECT ANSWERS ✔✔True
When solving for an unknown variable that has a 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 - CORRECT ANSWERS ✔✔D) coefficient
To separate an unknown variable from its exponent one should: -
CORRECT ANSWERS ✔✔multiply the exponent by its inverse
QUESTIONS WITH ANSWERS
x^5 = 32
solve for x - CORRECT ANSWERS ✔✔x = 2
2^x = 16
solve for x - CORRECT ANSWERS ✔✔x = 4
Solve for x and y for these simultaneous equations:
3x = 14-5y
7x+2y = 23 - CORRECT ANSWERS ✔✔x = 3
y=1
Equation for Total Cost - CORRECT ANSWERS ✔✔Total costs =
(variable cost per unit * number of units produced) + Fixed Costs
Material $75/television
Direct Labor $40/television
New Manufacturing Equipment $1,500,000
Modifications to Factory $3,000,000
If this company is considering building 10,000 units this year (and
needs money for the entire year allotted to it now for this
,purpose), for how much should the president ask? - CORRECT
ANSWERS ✔✔$ 5,650,000
Contribution Margin - CORRECT ANSWERS ✔✔(price per unit X * #
of units sold) - (variable cost per unit X * units sold)
Breakeven - CORRECT ANSWERS ✔✔Breakeven = Fixed
Costs/Contribution Margin per unit
A company is making a product and has invested $100,000 on an
advertising campaign and $75,000 each on five salespeople
(annual salary, including benefits and support). These are the only
fixed costs that the company has assigned to the product, and the
contribution margin per unit is $50. To cover those fixed costs,
how many units will the company have to sell to breakeven? -
CORRECT ANSWERS ✔✔[($75,000*5) + $100,000] / $50/unit =
9,500 (breakeven level in units)
abscissa - CORRECT ANSWERS ✔✔The x-coordinate of a point
(independent variable)
ordinate - CORRECT ANSWERS ✔✔The y-coordinate of a point
(dependent variable)
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 - CORRECT
ANSWERS ✔✔False. It would be y = 50 + 2x
,Which of the following is the monomial expression?
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6
B) 143x^4 + 3x^4
C) 143x^4 + 78x^4 + 6x^4 + 76 - CORRECT ANSWERS ✔✔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 = $7,000
Direct Labor/Driveway = $12,000
Office Expenses & Other Labor = $5,000 - CORRECT ANSWERS
✔✔y = 19x + 5
Which of the following is the binomial expression?
A) 4x^3 + 6x^4 +12x^3 + 45x^4 +6
B) 143x^4 + 3x^4
C) 143x^4 + 78x^4 + 6x^4 + 76 - CORRECT ANSWERS ✔✔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 +6
B) 143x^4 + 3x^4
C) 143x^4 + 78x^4 + 6x^4 + 76 - CORRECT ANSWERS ✔✔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. - CORRECT ANSWERS ✔✔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:
Sales - Variable Costs = Fixed Costs - CORRECT ANSWERS ✔✔True
True/False: for the equation 2x - 3y = 6, the x and y intercepts are
x=3, y=-2 - CORRECT ANSWERS ✔✔True
When solving for an unknown variable that has a 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 - CORRECT ANSWERS ✔✔D) coefficient
To separate an unknown variable from its exponent one should: -
CORRECT ANSWERS ✔✔multiply the exponent by its inverse
