Financial Algebra Spring 2022 Midterm

Front

What should Isabella do if she notices an unfamiliar charge on her bank statement?

Back

Isabella should contact the bank immediately to investigate the charge.

Front

What is a linear regression model?

Back

A linear regression model is an equation that represents the linear relationship between two sets of data.

Front

What does it mean if a system of equations has no solutions?

Back

It means that the lines represented by the equations are parallel and never intersect.

Front

What is the most common activity consumers use mobile banking for?

Back

Consumers mostly use mobile banking for inquiring about their account balance.

Front

What is an effective savings strategy for saving $5000 before college?

Back

Control impulse spending and break your goal into smaller time frames.

Front

What is impulse spending?

Back

Impulse spending is the act of making unplanned purchases without considering the consequences.

Front

How can setting up text alerts help with bank account security?

Back

Text alerts notify users of potentially fraudulent charges, allowing for quick action.

Front

What is the purpose of reviewing receipts after a questionable transaction?

Back

Reviewing receipts helps confirm whether the charge is legitimate or an error.

Front

What does it mean for two sets of data to have a strong correlation?

Back

It means that as one set of data increases or decreases, the other set tends to do the same.

Front

What is the benefit of breaking savings goals into smaller time frames?

Back

It makes the goal more manageable and allows for tracking progress more easily.