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Financial Algebra Advanced Algebra with Financial Applications 2e Robert Gerver Richard J Sgroi
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Financial Algebra Advanced Algebra with Financial Applications 2e Robert Gerver Richard J Sgroi
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,Name Clas Dat: s: e:
Chapter 01 - Discretionary Expenses
1. Your income before all taxes are deducted is your disposable income.
a. True
b. False
ANSWER: False
RATIONALE: Your income before all taxes are deducted is your gross income.
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 1/23/2017 11:46 PM
DATE MODIFIED: 2/8/2017 5:54 AM
2. A discretionary expense is one that can’t be eliminated from your day-to-day life.
a. True
b. False
ANSWER: False
RATIONALE: An essential expense is one that can’t be eliminated from your day-to-day life.
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 1/23/2017 11:50 PM
DATE MODIFIED: 2/7/2017 5:46 AM
3. When considering measures of central tendency, the presence of outliers would indicate that the mean may not be a
good representation.
a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 1/24/2017 12:13 AM
DATE MODIFIED: 2/7/2017 5:46 AM
4. When a correlation coefficient is near 1, there is little or no correlation between corresponding variables.
a. True
b. False
ANSWER: False
RATIONALE: A correlation coefficient near 1 is a strong correlation; a value near 0 indicates little or no
correlation.
POINTS: 1
QUESTION TYPE True / False
:
Copyright Cengage Learning. Powered by Cognero. Page 1
,Name Clas Dat
: s: e:
Chapter 01 - Discretionary Expenses
HAS VARIABLES: False
DATE CREATED: 1/24/2017 12:14 AM
DATE MODIFIED: 2/7/2017 5:46 AM
5. If a collection of data does not have any values that occur more than once, it is considered bimodal.
a. True
b. False
ANSWER: False
RATIONALE: A collection of data is considered bimodal if there are multiple values that have more
occurrences than any of the other values.
POINTS: 1
QUESTION TY True / False
PE:
HAS VARIABLE False
S:
DATE CREATE 1/24/2017 12:18 AM
D:
DATE MODIFIE 2/7/2017 5:46 AM
D:
6. The equation of the linear regression line of the scatterplot defined by these points: (1, 45), (2, 35), (3, 20), (4, 5) is y =
–13.5x + 60.
a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 1/24/2017 12:20 AM
DATE MODIFIED: 2/7/2017 5:47 AM
7. A scatterplot is graphed with the time it takes a child to get dressed in the morning on the horizontal axis, and the
child’s age in years on the vertical axis. The graph shows a negative correlation because the time decreases as the age of
the child increases.
a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 1/24/2017 12:51 AM
Copyright Cengage Learning. Powered by Cognero. Page 2
, Name Clas Dat
: s: e:
Chapter 01 - Discretionary Expenses
DATE MODIFIED: 2/11/2017 4:08 AM
8. Rebecca will be entering college next fall and is trying to decide how much to spend on a laptop. After researching
models online, she has found several that would meet her needs. Their costs are: $979; $1,349; $1,279; $1,349; $1,899;
$2,049; $875; and $1,099. She determined the median to be $1,359.
a. True
b. False
ANSWER: False
RATIONALE: The median is the average of the two prices in the middle when placed in ascending order.
(1,279 + 1,349)/2 = $1,314.
POINTS: 1
QUESTION TY True / False
PE:
HAS VARIABLE False
S:
DATE CREATE 1/24/2017 12:54 AM
D:
DATE MODIFIE 2/22/2017 3:15 PM
D:
9. A frequency distribution is a table that displays each possible value and the number of times that value occurs.
a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 1/24/2017 12:55 AM
DATE MODIFIED: 2/7/2017 5:50 AM
10. Sigma notation for determining median of 15 values is .
a. True
b. False
ANSWER: False
RATIONALE:
Sigma notation for determining the mean of 15 values is .
POINTS: 1
QUESTION TYPE: True / False
Copyright Cengage Learning. Powered by Cognero. Page 3
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