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Modeling a Business Flashcards | StudBud
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Modeling a Business
Modeling a Business
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StudBud Administration
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104 plays
A #math #quiz to review #business concepts
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Does this have a positive or negative correlation?
Negative
What...
None
Positive
2
Correlation does not imply
Intoxication
Relation
Causation
Separation
3
What letter represents the correlation coefficent?
e
p
r
q
4
E = 4.14q + 55,789. What is the average cost per widget to produce 600 widgets?
$58,273
$115.72
$9.72
$97.12
5
If R = -600p^2 + 18,000p, what is the revenue at a price of $20?
$150000
$12000
$15000
$120000
6
What is happening at point C?
Widgets
Supply is greater than demand
The Market is at Equilibrium
Demand is greater than supply
7
q = -140p + 9,000 and E = 2q + 16,000. At a price of $10, how many widgets are demanded?
9000
7600
9600
8600
8
Approximately, what is the break even price?
60
1.4
1
1.2
9
If demand is higher than supply, what two things will soon increase?
Supply and demand
Supply and quantity
Demand and people
Supply and price
10
The correlation coefficient is
Greater than or equal to 1 and less than and equal to -1
Less than or equal to 1 and greater than or equal to -1
Does not exist
Less than 1 and greater than -1
11
What is the maximum profit?
2
3
1
4
12
As the x axis value increases, the y axis value decreases. The correlation is:
Positive
Negative
No correlation
13
What is happening at point D?
Supply is greater than Demand
Demand is greater than Supply
Ms. J is being super not creative and using the same graph
The Market is at Equilibrium
14
What is happening at point A?
There are a lot of widgets
Demand is greater than Supply
The Market is at Equilibrium
Supply is greater than Demand
15
E = 2.5q + 3000. How much does it cost to produce 2250 widgets?
$2000
$5235
$8625
$2.5
16
A company makes flower pots has an expense equation of
E
=.75
q
+$24,582. What is the fixed cost?
24582.75
.75
24582
Nothing is fixed
17
What is the best estimate for the correlation coefficient?
.03
-1
1
.8
18
When the supply and demand curves intersect, the market is in...
Equilibrium
Lit
Flux
The Dumps
19
Total Expenses=
Revenue
Variable Costs + Fixed Costs
Functional Costs + Fixed Costs
Variable Costs + Functional Costs
20
Which point is the break even point?
C
A
B
D
