Mathematics for Business and Economics
Practice Exam
Course Introduction
This course provides a comprehensive introduction to the mathematical concepts and techniques essential for the analysis and solution of problems in business and economics. Topics include functions, equations, and inequalities; matrices and linear systems; differentiation and integration of functions with business and economic applications such as cost, revenue, profit, and marginal analysis; exponential and logarithmic functions; and elementary optimization. Emphasis is placed on developing quantitative reasoning skills and applying mathematical methods to real-world economic and business scenarios, preparing students for advanced study and professional practice.
Recommended Textbook College Algebra with Applications for Business and Life Sciences 2nd Edition by Ron Larson
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8 Chapters
787 Verified Questions
787 Flashcards
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Page 2
Chapter 1: Fundamental Concepts of Algebra
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) Factor the difference of two squares. 25t<sup>2</sup> - 4
A) (25t + 2)(25t - 2)
B) (25t + 4)(25t - 4)
C) (5t - 2)<sup>2</sup>
D) (5t + 2)<sup>2</sup>
E) (5t + 2)(5t - 2)
Answer: E
Q2) Multiply. (-x - 6)(-2x - 8)
A) -3x - 14
B) -3x<sup>2</sup> - 14
C) 22x + 48
D) -3x<sup>2</sup> - 17x - 14
E) 2x<sup>2</sup> + 20x + 48
Answer: E
Q3) Write the polynomial in standard form.
9 + 7x<sup>2</sup> + 8x
Answer: 7x<sup>2</sup> + 8x + 9
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Page 3
Chapter 1: Equations and Inequalities
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94 Verified Questions
94 Flashcards
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Sample Questions
Q1) A rectangular pool is 40 feet wide and 45 feet long.It is surrounded on all four sides by a wooden deck of fixed width.The total area enclosed within the perimeter of the deck is 2354 square feet.What is the width of the deck?
A) 9 feet
B) 8 feet
C) 4 feet
D) 11 feet
E) 12 feet
Answer: D
Q2) Two friends fly from from one city to another (a distance apart of 2417 miles).It takes 2 hours and 25 minutes to fly the first 860 miles.At this rate, how long is the entire flight? Round to the nearest hundredth of an hour.
A) 8.15 hours
B) 6.79 hours
C) 6.34 hours
D) 5.89 hours
E) 7.24 hours
Answer: B
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Chapter 2: Functions and Graphs
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) Determine whether lines L<sub>1</sub> and L<sub>2</sub> passing through the pairs of points are parallel, perpendicular, or neither. L<sub>1 </sub>: (1, 2), (1, 4)
L<sub>2 </sub>: (-7, -8), (-9, -8)
A) parallel
B) perpendicular
C) neither
Answer: B
Q2) Evaluate the function at the specified value of the independent variable and simplify. f (y) = 6y + 3; f (0.8)
A) 4.8y + 18
B) 1.8
C) 7.8
D) 0.8y + 3
E) 0.8y - 3
Answer: C
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Chapter 3: Polynomial and Rational Functions
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) A farmer wants to enlarge an existing rectangular pig pen such that the total area of the new pen is twice as large as the original pen.The current pen's dimensions are 25' × 27'.The farmer wants to add 13 feet more to the long side than to the the short side.Find the dimensions of the new pen.
A) 5 feet × 18 feet
B) 30 feet × 45 feet
C) 30 feet × 32 feet
D) 30 feet × 43 feet
E) 30 feet × 40 feet
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Chapter 4: Exponential and Logarithmic Functions
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92 Verified Questions
92 Flashcards
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Sample Questions
Q1) An investment is expected to pay 11% per year compounded continuously.If you want the value of the investment to be $900,000 after 25 years, how much should you invest initially? Round to the nearest dollar.
A) $14,384
B) $28,768
C) $57,535
D) $115,070
E) $368,953
Q2) Estimate the percentage of radioactive material that remains in a sample after 5 years if the half-life of the material is 299 days.Round to the nearest hundredth of a percent.
A) 0.37%
B) 15.92%
C) 1.45%
D) 8.19%
E) 0.85%
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7
Chapter 5: Systems of Equations and Inequalities
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94 Verified Questions
94 Flashcards
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Sample Questions
Q1) A dietitian designs a special diet supplement using two different foods.Each ounce of food X contains 10 units of calcium, 15 units of iron, and 20 units of vitamin B.Each ounce of food Y contains 15 units of calcium, 10 units of iron, and 20 units of vitamin B.The minimum daily requirements for the diet are 380 units of calcium, 240 units of iron, and 390 units of vitamin B.Which combinations of foods X and Y below, if any, can be given to the patient to meet the minimum daily requirements? Combination I : 21 ounces of food X and 22 ounces of food Y
Combination II :
16 ounces of food X and 19 ounces of food Y
Combination III :
10 ounces of food X and 10 ounces of food Y
A) Only combinations II and III meet the minimum daily requirement.
B) Only combination II meets the minimum daily requirement.
C) None of the combinations meet the minimum daily requirement.
D) Only combinations I and II meet the minimum daily requirement.
E) Only combination III meets the minimum daily requirement.
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8
Chapter 6: Matrices and Determinants
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94 Verified Questions
94 Flashcards
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Sample Questions
Q1) A city zoo borrowed $2,000,000 at simple annual interest to construct a breeding facility.Some of the money was borrowed at 9%, some at 11%, and some at 14%.Use a system of equations to determine how much was borrowed at 9% if the total annual interest was $216,000 and the amount borrowed at 9% was twice the amount borrowed at 14%.Solve the system using matrices.
A) $400,000 was borrowed at 9%
B) $800,000 was borrowed at 9%
C) $300,000 was borrowed at 9%
D) $1,600,000 was borrowed at 9%
E) $1,700,000 was borrowed at 9%
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9
Chapter 7: Sequences, Series, and Probability
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92 Verified Questions
92 Flashcards
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Sample Questions
Q1) There are 13 patients in Dr.Ziglar's waiting room.Dr.Ziglar can see 6 patients before lunch.In how many different orders can Dr.Ziglar see 6 of the patients before lunch?
A) 1716
B) 8,648,640
C) 78
D) 6
E) 1,235,520
Q2) Determine whether the sequence is arithmetic.If so, find the common difference. -2, -1, 0, 1, 2
A) -3
B) 1
C) -2
D) -1
E) not arithmetic
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