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Consumer Math B Exam Questions + Answers Questions and answers | Updated 2024/25
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Consumer Math B Exam Questions + Answers Questions and answers | Updated 2024/25
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Consumer Math B Exam Questions +Answers Questions and answers |
Updated 2024/25
The final price after all percentages are taken off and taxes are added up is known as the
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what? - Total price
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Describe something you could do if you were spending too much money and needed help
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managing it. - If you were spending too much money and needed to manage it, you could
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make a budget for yourself, and to make sure you wont go over your budget limit you can
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put all of the money into envelopes for their spending category. Then all of your leftover
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money can go into a savings account or emergency funding account.
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ii Gold, jewelry, antique furniture, and other belongings are known as what? - Assets
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ii What does retail price mean? - The price before anything is taken off for selling.
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ii Where the line crosses the y-axis is known as the what? - Y-intercept
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Barb noticed that she had to pay a sales tax for the shoes she bought at the store. What is
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sales tax? - A percentage of total sales that is collected on behalf of the state, county, or
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local government.
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ii Slope uses what letter? - m ii ii ii ii ii ii ii
Explain how to change .4 into a percent, then write the percent. - Multiply by 100 to get
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40%
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ii What position do the quadrants go in on a Cartesian plane? - Counterclockwise
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ii Given plot points (1, 5) what quadrant would you be in? - Quadrant I
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ii What does percent mean? - Part of 100.
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ii A company's value is also known as their what? - Net worth
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ii What direction do you move on the y-axis? - Up or down
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Explain how the richest people are ranked. - The richest people are ranked by net worth
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by combining all of their assets.
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, Wendy wants to find her average monthly expenses. In October she spent $450, In
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November she spent $750, in December she spent $1,000 and in January she spent $565.
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What are her average monthly expenses? - $691.25
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ii What our data tells us is also known as the what? - Correlation
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ii What direction do you move on the x-axis? - Left or right
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ii What is purchasing power? - What an individual can buy in terms of goods and services.
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ii What is the cost for 5 t-shirts that cost $10 with a sales tax of 6%? - $53
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ii What is an example of a variable expense? - Grocery bill
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When given plot points (3, -4), explain the direction you go first, then last. Include the name
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of the axis for each point and what quadrant you would land in. - Go right 3 spaces on the
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x-axis, then go down four spaces on the y-axis. Quadrant IV.
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ii What does the coefficient show us? - How strong the relationship in data is
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ii Given the equation y = 2x + 4, what would the value of y be when x = 1? - 6
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Explain what the points look like when there is a strong positive correlation. - When there
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is a strong positive correlation, the points are going upwards to the right and super tight
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and compact.
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ii The y-intercept uses which letter? - b
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ii What is an exponential equation? - An equation that has an exponent and is a variable
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Larry wanted to put money into his bank account. He walked into the bank and needed to
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fill out this form in order to put money in, or take money out of his account. - Deposit slip
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ii In BE, B stands for the base number. What does the E stand for ? - Exponent
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Becca made a withdrawal from her bank account. What does that mean? - She took
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money out of her account.
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Which statement is true? - A checking account is where you want to keep your spending
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money and a savings account is where you want to keep your savings.
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When trying to find the amount of interest you will pay if you borrow money, what three
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things must you calculate? Think PRT. - Principal, interest rate, time
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I bought groceries with my debit card. How long before the money is taken out of my
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checking account? - Immediately
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