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Complete Test Bank Financial Algebra Advanced Algebra with Financial Applications 2nd Edition Gerver Questions & Answers with rationales €15,78
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Complete Test Bank Financial Algebra Advanced Algebra with Financial Applications 2nd Edition Gerver Questions & Answers with rationales
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Financial Algebra: Advanced Algebra with Financial Applications
Financial Algebra Advanced Algebra with Financial Applications 2nd Edition Gerver Test Bank
Complete Test Bank Financial Algebra Advanced Algebra with Financial Applications 2nd Edition Gerver Questions & Answers with rationales
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Test Bank for Financial Algebra Advanced Algebra with Financial Applications 2nd Edition Gerver / All Chapters 1 - 11 / Full Complete 2023 - 2024
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Chapter 01 - Discretionary Expenses Page 1 Financial Algebra Advanced Algebra with Financial Applications 2nd Edition Gerver Test Bank 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 HAS VARIABLES: False DATE CREATED: 1/24/2017 12:14 AM Chapter 01 - Discretionary Expenses Page 2 Financial Algebra Advanced Algebra with Financial Applications 2nd Edition Gerver Test Bank 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 TYPE: True / False HAS VARIABLES: False DATE CREATED: 1/24/2017 12:18 AM DATE MODIFIED: 2/7/2017 5:46 AM 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 incre ases. a. True b. False ANSWER: True POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False DATE CREATED: 1/24/2017 12:51 AM 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. Chapter 01 - Discretionary Expenses Page 3 Financial Algebra Advanced Algebra with Financial Applications 2nd Edition Gerver Test Bank (1,279 + 1,349)/2 = $1,314. POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False DATE CREATED: 1/24/2017 12:54 AM DATE MODIFIED: 2/22/2017 3:15 PM 9. A frequency distribution is a table that displays each possible value and the number of times that value occurs. a. True b. False ANSWER: True POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False DATE CREATED: 1/24/2017 12:55 AM DATE MODIFIED: 2/7/2017 5:50 AM 10. Sigma notation for determining median of 15 values is . a. True b. False ANSWER: False RATIONALE: Sigma notation for determining the mean of 15 values is . POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False DATE CREATED: 1/24/2017 12:57 AM DATE MODIFIED: 2/7/2017 5:54 AM 11. Marsha was shopping for a new dishwasher and researched the different models she could afford. Using Marsha’s frequency distribution table, determine the median price for dishwashers. Price,p($) Frequency,f 250 2 275 4 280 1 290 2 310 6 315 2 320 1 Chapter 01 - Discretionary Expenses Page 4 Financial Algebra Advanced Algebra with Financial Applications 2nd Edition Gerver Test Bank 325 7 330 1 335 1 340 1 350 2 a. $317.50 b. $325.00 c. $312.50 d. $308.33 ANSWER: c RATIONALE: The 15th and 16th values are 310 and 315, and their average is $312.50. POINTS: 1 QUESTION TYPE: Multiple Choice HAS VARIABLES: False DATE CREATED: 1/24/2017 1:08 AM DATE MODIFIED: 2/11/2017 4:11 AM 12. Examine the frequency table below for prices to replace a dishwasher. What is the percentile rank of dishwashers that cost $325? Price,p($) Frequency,f 250 2 275 4 280 1 290 2 310 6 315 2 320 1 325 7 330 1 335 1 340 1 350 2 a. 83% b. 23% c. 60% d. 17% ANSWER: a RATIONALE: The percentage of dishwashers at or below $325 is 25 out of 30 or (25/30)*100 POINTS: 1 QUESTION TYPE: Multiple Choice HAS VARIABLES: False DATE CREATED: 1/24/2017 2:01 AM DATE MODIFIED: 2/11/2017 4:12 AM 13. McKenzie found the correlation coefficient on a set of data to be –0.20. Which term best describes the correlation? a. Strong positive b. Strong negative c. Weak positive d. Weak negative
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