Final Exam

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Author:
ametzga
ID:
174205
Filename:
Final Exam
Updated:
2013-03-06 19:45:27
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Quantitative literacy
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Final Exam
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  1. Percent as fraction
    "percenatge of"
    • part/total = %
    • % * total = part
    • part/% = total
  2. Absolute change
    • New- old
    • if given in percents units for absolute change are percentage points
  3. Percent change
    new-old/old
  4. Absolute and Relative difference
    • not absolute change
    • percentage more than; percentage less than
    • larger-smaller/the quantity after "than"
  5. Increasing or decreasing by a percent
    • # * (1 + .%) = Pecent increase
    • # * (1 - .%)= Percent decrease
  6. Successive percentage change
    • multiple increases or decreases in percent
    • org # * (1 +or- .%) = X
    • X * (1 +or- .%) =Y
    • continue as needed
  7. Solve for Original
    • Finding original # that has been reduced = new/(1-.%)
    • Finding original # that has been increased = new/(1+.%)
  8. Ratios
    1st #/ 2nd #
  9. Ratios
    percent more or less than
    • Assuming A=5; B=4
    • A is what percent more than B =25% more
    • B is what percent less than A =20% less
  10. Ratios
    percent of
    • Assuming A=5; B=4
    • A is what percent of B = 125%
    • B is what percent of A = 80%
  11. Rate per 10,000
    Example death rates of hunting

    • 600 deaths/2000000 hunters = .0003
    • .0003*10,000 = 3
    • 3 deaths per 10,000 participants
  12. Linear Equation?
    • y = mx + b
    • where m=slope or rate of change
    • b= y intercept or inital value
    • yintercept or inital value= y value when x equals 0
  13. Rate of change formula?
    B2-B1/A2-A1
  14. Exponential Formula?
    • y = P*(1+or-r)^x
    • Where P = inital value(value of y when x = 0)
    • r = percent change (in decimal form)
    • x = independent variable (usually time)
    • y = dependent variable
  15. Exponential relationship?
    For an increase of 1 in x, y increases or decreases by a constant percent change.
  16. Linear relationship?
    as the x variable increases by 1, the y variable increases or decreases by a certain amount (rate of change)
  17. Finding ratio of CPI?
    new years CPI/old years CPI = CPI ratio
  18. Converting to constant dollars?
    X dollars in old year is worth how much in new year constant dollars
    new year CPI/ old year CPI * X dollars = X dollars in new year constant dollars
  19. Annual Inflation rate?
    • Percentage change in the CPI in one year from previous year
    • for example
    • 1996 CPI-1995CPI/1995 CPI = Inflation rate

    162.6-157.9/157.9 = 3.0% inflation rate for 1996
  20. Finding monthly payments using excel?
    • fx icon in formula bar
    • drop down menu > finacial > PMT > box appears
    • Enter rate = APR (as a decimal) divided by 12
    • Enter NPer (total # of payments)= # of years *12
    • Enter Pv (principal) = amount of loan as negative # no commas
  21. Absolute cell reference?
    used to lock in a cell reference in a formula when working on tables so that as formula moves down the table it still refers to correct cell.

    enter cell reference than hit F4 button

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