Unit 1 Quiz 2 Practice

Weighted Averages: match the terms and vocabulary

• determine a statistic about a population

• Purpose

• main thing (ex., person)

• Averages

• survey data collection

• Weights

• detail about the main thing (ex., age)

• Source of Data

Indexes: match the terms and vocabulary

• business forecasts

• Averages

• prices for items purchased

• Source of Data

• determine money spent by customers

• Weights

• number of items purchased

• Purpose

A market firm for a QuikTrip calculates Gas Price Index (GPI) to determine the average spent by a family of four that enters the storefront. Use the prices shown to calculate the GPI if the typical family purchases 4 sodas, 4 bag of chips, and 3 chocolate candy bars.

Yearly changes to production costs and sales for a business are represented below in percentages.

===== ===== =====

What was the worst year for the business?

• 2017

• 2018

• 2019

• 2020

• 2021

Yearly changes to production costs and sales for a business are represented below in percentages.

===== ===== =====

What was the best year for the business?

• 2017

• 2018

• 2019

• 2020

• 2021

Instructions: use the dropdown options to make true statements related to economic decisions based upon annual rate of change (R.O.C.) values

Businesses might make investments if R.O.C. for​ (a)  

Businesses might fire employees if R.O.C. for ​ (b)  

Employees might become angry at employers if R.O.C. for ​ (c)  

• costs is greater than sales
• sales is greater than costs
• wages is less than sales

Annual Fan Cost Index (FCI) values for different sports leagues are shown. What is the rate of change in FCI values for the NBA from 2016 to 2018?

===== ===== =====

(Round answer to one decimal place; do not include % symbol in your answer.)

Mathematical Equivalence

ON

Answer explanation

Round answer to 24.1

Instructions: match the company card and major industry identifier (MII)

===== ===== =====

Reminder: the MII is the first digit of a credit card

• 9

• Government

• 3

• Gasoline

• 4

• Bank of America

• 7

• Delta SkyMiles

An AP biology teacher lost their credit card and called to receive a replacement. They received a new one in the mail with the following number. What was the check digit on the card?

Mathematical Equivalence

ON

Answer explanation

Card number: 5601 0101 0101 010?

Codabar rules show missing digit is 7

===============================

Even digits stay the same

Odd digits (yellow) change

The check digit (the final digit) is used to ensure the sum of the final row is a multiple of 10

An AP biology teacher lost their credit card and called to receive a replacement. They received a new one in the mail with the following number. What was the check digit on the card?

Mathematical Equivalence

ON

Answer explanation

Card number: 6601 0101 0101 010?

Codabar rules show missing digit is 5

===============================

Even digits stay the same

Odd digits (yellow) change

The check digit (the final digit) is used to ensure the sum of the final row is a multiple of 10