Math Quizzes

Carl Cornfield purchases new equipment. After reducing the cash line where else would Carl put an entry for this purchase?

not cash assets or Liabilities (owner equity)

The mean is a good of a population.

point estimate

Answer the following question regarding the table below. 90 91 93 94 97 97 99 90 92 93 95 97 98 99 90 92 94 95 97 98 99 91 92 94 95 97 98 91 93 94 97 97 98

smallest? - 90 frequently? - 97 largest? - 99

Compute the requested average. Paul Peddler wants to purchase a bicycle costing $775. If he chooses to make 12 equal payments, then in dollars and cents the average payment will be

$64.58

A small business has an average income of $3,000.00 per month with a standard deviation of $250.00. If the income in a given month is $3,300.00, what z-score corresponds to this value?

1.2

John Goodie is doing his budget. He discovers that he has spent an average of $235.00 a month on food for the year with a standard deviation of $55.00. What percent of his monthly expenses for this category would he expect to fall between $147.00 and $202.00?

1.6 44.5 0.6 22.6 21.9

Study the following distribution chart. Number Frequency 140 3 145 5 150 7 155 7 160 4 165 2 170 1

150 and 155

Find the median for the following set of numbers. 5, 19, 2, 28, 25

19

Compute the requested average. Tim Worker receives the following income monthly from a second job. Jan. Feb. Mar. Apr. May June $200 $150 $250 $260 $285 $380 July Aug. Sept. Oct. Nov. Dec. $200 $225 $200 $250 $220 $150

230.83

A box and whiskers chart divides a data set into equal parts called quartiles.

4

Find the mode for the following distribution. Number Frequency 36 3 40 5 44 9 48 7 52 7 56 5 60 3

44

A value one standard deviation from the mean is less likely to occur than a value three standard deviations from the mean.

false

Data is a group of numbers.

false

If a data point has a corresponding z-score of -1.5, then it is one and a half standard deviations above the mean value.

false

Carl Cornfield represented the acres he planted with a Venn diagram. A = {corn}; B = {wheat}; U = {all grain}. Answer the following question using braces around the answer.

just corn? - not 10 just wheat? - not 7 Intersection? - not 4 Union? - not 21

A balance sheet shows a person's or a company's financial health.

true

A sample taken from a normally distributed population will also be normally distributed.

true

Any large random sample from a group of people will be representative of the entire group.

true

The term standard error describes a measure of the variability for different means.

true

Find the median for the following set of numbers. 102, 108, 112, 120, 143, 149, 1150

120

The range for this data is:

6

You start with $3,500 in cash and in owner's equity. a. You sell product purchased for $750 for $1,525.00 b. You purchase equipment for $500. c. You pay the rent by check for $450. d. You receive next month's power bill for $155.00

Cash: 4825 Total Assets: 5325 Accounts Payable: 155 Owners Equity: Investment: 5170 Total Liabilities and Owner's Equity: 5325.00

Jim Tree sold 3 items for cash. Where would Jim list the amount received?

cash assets

Carl Cornfield makes a payment on his tractor. What two lines of the balance sheet will this payment change? It will reduce and also reduce

cash, accounts payable

A delivery driver has an average daily gasoline expense of $55.00. The standard deviation is $10.00. The owner takes a sample of 54 bills. What is the probability the mean of his sample will be between $45.00 and $65.00?

z-score for $45.00: -1.0 Probability: 34.13 z-score for $65.00: 1.0 Probability: 34.13 Added Probability: 68.26