Practice Exam Answers

40 verified answers1 views
2
Free Preview

Which data set would the mean be significantly affected by extreme values, making the median a more reliable measure of center?

A
Profits from selling handmade crafts online by five students: 40 dollars, 42 dollars, 43 dollars, 45 dollars, 40 dollars.
B
Money earned from babysitting by five students: 30 dollars, 32 dollars, 33 dollars, 35 dollars, 330 dollars.
C
Tips earned by five students working as servers: 20 dollars, 22 dollars, 23 dollars, 25 dollars, 25 dollars.
D
Earnings from a school car wash fundraiser by five students: 50 dollars, 55 dollars, 57 dollars, 60 dollars, 50 dollars.
3

Drag each statement into the appropriate category based on whether it applies to homeownership or renting.

Answer:

pays property taxes,builds equity through property appreciation,handles all maintenance and repairs|can relocate easily at end of lease,requires security deposit and first month's rent

5

A neighborhood sports store has two popular running shoes on sale. Shoe A, originally priced at $⁢84 , comes with a 10 percent discount. Shoe B, originally priced at $⁢92 , has a 20 percent discount. After the discounts, which shoe costs less?

A
Shoe A will cost 2 point 0 0 dollars less than Shoe B.
B
Shoe B will cost 2 point 0 0 dollars less than Shoe A.
C
Shoe B will cost 0 point 6 0 dollars less than Shoe A.
D
Shoe A will cost 8 point 4 0 dollars less than Shoe B.
7

A credit card has a balance of $⁢2,000 and a 15% APR. If a fixed payment of $100 is made each month, how will the balance after a year compare to making only the minimum payment of 2% of the balance each month?

A
The balance will be higher with the fixed payment because 2 percent of 2 dollars comma 000 is more than 100 dollars.
B
The balance will be lower with the fixed payment because 2 percent of 2 dollars comma 000 is less than 100 dollars.
C
It is impossible to determine the ending balance for both scenarios.
D
The balances will be the same.
8

Nyah opens a savings account for $750 with a 7% annual interest rate, compounded annually. Which graph will find the amount in the savings account after 8 years?

A
Image with description A graph titled Nyah's Savings Account. The x-axis is labeled Time (years) from 20 to 60 and y-axis is labeled Amount (dollars) from 5,000 to 15,000. A line sharply increases from under 5,000 to 15,000 at year 40.
B
Image with description A graph titled Nyah's Savings Account. The x-axis is labeled Time (years) from 20 to 60 and y-axis is labeled Amount (dollars) from 5,000 to 15,000. A line increases instantly from 0 to 15,000.
C
Image with description A graph titled Nyah's Savings Account. The x-axis is labeled Time (years) from 20 to 60 and y-axis is labeled Amount (dollars) from 5,000 to 15,000. A line slightly increases over time.
D
Image with description A graph titled Nyah's Savings Account. The x-axis is labeled Time (years) from 20 to 60 and y-axis is labeled Amount (dollars) from 5,000 to 15,000. A line slowly increases over time under 5,000.
10

Breanna has the opportunity to switch to a four-day workweek, but this comes with a 20% salary cut. Given that her current monthly salary of $5,000 exactly matches her monthly expenses, how much would her new salary be, and what would be the best course of action for her considering her financial situation?

A
Both situations result in the same net income.
B
Accept the four-day workweek, earning a new salary of $6,000, which results in a monthly increase of $1,000.
C
Decline the four-day workweek offer, maintaining her current salary of $5,000 and ensuring her expenses are covered.
D
Accept the four-day workweek, earning a new salary of $4,000, which results in a monthly deficit of $1,000.
17

Henry and Emma decide to invest in bonds and stocks. Let x represent the number of bonds and y represent the number of stocks. For every bond Henry buys, he spends $⁢100 , and for every stock, he spends $⁢150 Henry spent a total of $⁢650 Emma spends $⁢150 for every bond and $⁢100 for every stock. She spent a total of $⁢850 Which system of equations represents the situation?

A
100 x plus 150 y is equal to 650 150 x plus 100 y is equal to 850
B
850 x plus 650 y is equal to 100 650 x plus 850 y is equal to 150
C
100 x plus 150 y is equal to 850 150 x plus 100 y is equal to 650
D
100 x plus 150 y is equal to 650 100 x plus 150 y is equal to 850

Did you find these answers helpful?