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Exam-Business Math & Statistics - Ivy Software Test 100% Solved
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Exam-Business Math & Statistics - Ivy Software Test100% Solved
x^5 = 32
solve for x Correct-x = 2
2^x = 16
solve for x Correct-x = 4
Solve for x and y for these simultaneous equations:
3x = 14-5y
7x+2y = 23 Correct-x = 3
y=1
Equation for Total Cost Correct-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
, Exam-Business Math & Statistics - Ivy Software Test
100% Solved
Modifications to Factory $3,000,000
If this company is considering building 10,000 units this year (and needs money for the entire
year allotted to it now for this purpose), for how much should the president ask? Correct-$
5,650,000
Contribution Margin Correct-(price per unit X * # of units sold) - (variable cost per unit X *
units sold)
Breakeven Correct-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-[($75,000*5) + $100,000] / $50/unit = 9,500 (breakeven level in
units)
abscissa Correct-The x-coordinate of a point (independent variable)
, Exam-Business Math & Statistics - Ivy Software Test
100% Solved
ordinate Correct-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-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-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-y = 19x + 5
, Exam-Business Math & Statistics - Ivy Software Test
100% Solved
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-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-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-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.
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