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Posted January 5, 2011
The green math book is a gem. I can only wonder why these concepts are not taught like this in high school. This book gives you the math principle and then problems to support that principle. That's it. Here's the opening quiz on the kind of things it covers. (They're true/false questions...just imagine though you're doing them without the answers right in front of you... ;-) Quiz 1. If the ratio of females to males at a business conference is 1:2, then the percentage of people who are female at this conference is 50%. False. The percentage of people who are female at this conference is or 33%, not 50%. See tip #13, chapter 1. 2. For a given product, markup is always a smaller percentage than margin. False. For a given product, markup is always larger than margin. See tip #18, chapter 3. 3. A couple charged $132 on their credit card to pay for a meal while dining out. This $132 figure included a 20% tip which was paid on top of the price of the meal, which already included a sales tax of 10%. The actual price of the meal before tax and tip was $92.40. False. The cost of the meal before tax and tip was $100. Calculation: ($132/1.2)/1.1 = $100. See tip #14, chapter 2. 4. Ratios are useful tools that tell us some­thing about actual size or value. False. Ratios tell us nothing about actual size or value; they tell us instead about relative size or value. See tip #11, chapter 2. 5. Multiplying a number by 1.2 is the same as dividing that same number by 0.8. False. Multiplying a number by 1.2 is the same as dividing the number by the reciprocal of 1.2, which is 0.83, not 0.8. Case in point: $100 multiplied by 1.2 is the same as $100 divided by 0.83. See tip #16, chapter 2. 6. Break-even occurs exactly where profit equals total fixed costs. False. Break-even occurs exactly where variable revenue (sales revenue less variable costs) equals total fixed costs. See tip #21, chapter 3. 7. A store item that has been discounted first by 20% and then by 30% is now selling at 50% of its original price. False. The store item is now selling for a 44% discount, or 56% of its original price. For example, $100 less 20% equals $80, and $80 less 30% equals $56. A $44 discount on $100 is 44%. The trap here is that you can't add (or subtract) the percentages of different wholes. See tip #6, chapter 1. 8. A fast-food vendor registered 100 individual sales during the intermission at a sporting event. The vendor sold 60 hamburgers and 35 hot dogs, and 20 people made purchases which did not include hamburgers or hotdogs. Based on this information, we can conclude that 25 people bought both hamburgers and hot dogs. False. Fifteen people bought both hamburgers and hotdogs, as calculated using the formula below. See tip #1, chapter 1. Hamburgers + Hotdogs - Both + Neither = Total 60 + 35 - x + 20 = 100 x = 15 9. If product A is selling for 20% more than product B, then the ratio of product A to product B is 100% to 80%. False. If product A is selling for 20% more than product B, then the ratio of product A to product B is 120% to 100%. See tip #15, chapter 2. 10. Data with a high standard deviation is "bunched." Data with a low standard deviation is more "spread out." False. Data with a high standard deviation is spread out. Data with a low standard deviation is bunched. See tip #29, chapter 4.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.