Business Math & Stats Ivy Software: Questions With
Complete Solutions
1. coefficient
2. variable
3. constant
4. exponent/ base Right Ans - 5x² - 3
coefficient: 5
variable: x
constant: 3
exponent: ², base: x
when solving for an unknown variable that has an exponent, the exponent
needs to be multiplied by it's inverse
transposition Right Ans - changing a term's sign and moving it to the
other side of the equation
algebraic equation Right Ans - solving for an unknown variable
negative exponent Right Ans - multiply that exponent by its inverse
monomial/ polynomial/ trinomial Right Ans - monomial: one term
polynomial: more than one term
trinomial: three terms
simultaneous equations Right Ans - solving for unknowns in all
equations
1. like terms same column
2. multiply equations so they have the same absolute value
3. eliminate unknowns with same absolute value (+ together if signs are
unlike, - if they have same sign)
4. solve
5. find other value by plugging known in
variable cost Right Ans - depends on how much is produced
, 1. total cost varies with level of production
2. variable cost for each unit is unchanged
ex. direct labor: wages of workers on assembly line
fixed cost Right Ans - not dependent on a product being built
1. total cost remains same with level of production
2. fixed cost for each unit decreases
ex. indirect labor: salaries of accounting staff
total costs Right Ans - variable costs * units of production + fixed costs
TC = VCx + FC
contribution margin Right Ans - how much can be contributed to fixed
costs; amount company receives, not amount it's sold for
CM = sales - variable costs
breakeven Right Ans - sales - variable costs = fixed costs = breakeven
fixed costs / contribution margin PER UNIT
linear equation Right Ans - straight line graph
y = a + bx
y: dependent variable
a: constant/ y-intercept (x=0)
b: coefficient/ slope
x: independent variable
slope of linear equation (b) Right Ans - b = ∆y / ∆x
quadratic equation Right Ans - y = ax² + bx + c
Complete Solutions
1. coefficient
2. variable
3. constant
4. exponent/ base Right Ans - 5x² - 3
coefficient: 5
variable: x
constant: 3
exponent: ², base: x
when solving for an unknown variable that has an exponent, the exponent
needs to be multiplied by it's inverse
transposition Right Ans - changing a term's sign and moving it to the
other side of the equation
algebraic equation Right Ans - solving for an unknown variable
negative exponent Right Ans - multiply that exponent by its inverse
monomial/ polynomial/ trinomial Right Ans - monomial: one term
polynomial: more than one term
trinomial: three terms
simultaneous equations Right Ans - solving for unknowns in all
equations
1. like terms same column
2. multiply equations so they have the same absolute value
3. eliminate unknowns with same absolute value (+ together if signs are
unlike, - if they have same sign)
4. solve
5. find other value by plugging known in
variable cost Right Ans - depends on how much is produced
, 1. total cost varies with level of production
2. variable cost for each unit is unchanged
ex. direct labor: wages of workers on assembly line
fixed cost Right Ans - not dependent on a product being built
1. total cost remains same with level of production
2. fixed cost for each unit decreases
ex. indirect labor: salaries of accounting staff
total costs Right Ans - variable costs * units of production + fixed costs
TC = VCx + FC
contribution margin Right Ans - how much can be contributed to fixed
costs; amount company receives, not amount it's sold for
CM = sales - variable costs
breakeven Right Ans - sales - variable costs = fixed costs = breakeven
fixed costs / contribution margin PER UNIT
linear equation Right Ans - straight line graph
y = a + bx
y: dependent variable
a: constant/ y-intercept (x=0)
b: coefficient/ slope
x: independent variable
slope of linear equation (b) Right Ans - b = ∆y / ∆x
quadratic equation Right Ans - y = ax² + bx + c
