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# MM255 Assignment Review unit 2

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Date Created: 11/14/15

A different school of thought K P L A N I umvgnsrrv MM255 Business Math and Statistical Measures Unit 2 Instructor Graded Assignment Equa ons In this and future Instructor Graded Assignments you will be asked to use the answers you found in the Unit 1 Assignment Note For these questions you need to cite a reliable source for information which means you cannot use sites like Wikipedia Askcom and Yahoo answers If you do use those sites the instructor may award 0 points for your response The Assignment problems must have the work shown at all times The steps for solving the problems must be explained Failure to do so could result in your submission being given a 0 If you have any questions about how much work to show please contact your instructor Assignments must be submitted as a Microsoft Word document and uploaded to the Dropbox for Unit 2 Type all answers directly in this Assignment below the question it applies to All Assignments are due by Tuesday at 1159 PM ET of the assigned Unit Finding the National Average Price for Gas These first few questions will require you to use the internet to search for the national average price for gas Remember to use a scholarly site for information 0 List the websites you visited here httpwwweiadovpetroleumqasdiesel 1 2 points What was the average price of a gallon of gas 1 year from when your business math class started The average price of gas a gallon right when we started business math was 345 2 5 points You have 50 on hand and need to buy gas How many gallons of gas can you buy using the value you reported in Question 1 50 345 145 gallons of gas rounded to the nearest tenth place 3 5 points If gas prices were to drop 10 from the current price how much would a gallon of gas cost now A different school at thought K A P L A N 39 UNIVERSITY MM255 Business Math and Statistical Measures 349 10 35 rounded to the nearest tenth place 349 35 314 4 5 points Using the average for 1 year ago and the average for 6 months ago calculate the percent increase or decrease in the price of a gallon of gas over that 6 month time span The average price of gas a year ago was 345 a gallon The average price of gas 6 months ago was 360 a gallon 360 345 15 cent increase Finding the National Average for Food for One Person Questions 5 6 and 7 will require you to search for the national average for food for one person Remember to use a scholarly site for information 0 List the websites you visited here httpwwwcnbbusdadov Publications Food Plans201 2CostofFoodJun201 2pdf 5 3 points What was the national average for food for a month for one person one year ago from the date the class started Use the average for a 35yearold male and if multiple figures are given for that gender and age use the highest number The average cost of food for a month a year ago was 36050 6 5 points If this person lives in a state with a 7 sales tax on all food purchases how much will they need to spend on food for one year 36050 12months 432600 a year 432600 07 30282 sales taX for the year 432600 30282 462882 will be spent on food for the year 7 5 points Create an equation you could use to calculate the cost one person spends on food for a year assume no tax on the food using this site Your equation must work for any age range and any gender now What is the difference in cost of food for the month between a male between the age of 51 to 70 year olds and a female between the ages of 51 to 70 year olds Male 51 70 year monthly food cost 32910 A different school of thought K A P L A N 39 UNIVERSITY MM255 Business Math and Statistical Measures Female 51 70 year monthly food cost 29470 32910 29470 3440 Males spend 3440 more money a month on food than females Essay Question 15 points 8 Using the internet find a website where a linear equation is used Using that website as a source write a 34 1 page essay response in which you discuss how the equation was used if it was used correctly and what solutions to the equation mean in other words why are you using the equation in the first place What is the solution supposed to tell you once you find it Requirements for essav Write your essay in this document do not save it in a separate file 0 You must clearly state your position with wellstructured paragraphs using proper grammar spelling and sentence structure 0 This is not an opinion question you must offer evidence to support your position using properly cited sources 0 Your answer must be between 341 page in length 0 You must cite and reference at least one source book website periodical using APA format The required website counts as one source You may submit your Assignments to the Math Center for review Tutors will not grade or correct the Assignment but they will provide guidance for improvement Tutors will not however help you find web sites for the Assignment Be sure to submit Assignments early enough to receive feedback and make corrections before the Assignment due date 24 hour turnaround times MondayThursday and 48 hour turn around times on weekends are typical Email Assignments to kumckaplanedu Please put MM255 Assignment Review in the subject line of the message A different schnnl ni 11hiziilgl39utm K A P L A N 39 MM255 Business Math and Statistical Measures Linear Equations Linear equations are equations is an algebraic equation in which each term is either a constant or the product of a constant and a single variable The website I choice is httpwwwalgebracomalgebrahomeworkcoordinatelinear systemsfaCI Cluestion243361 html this website gives real world examples of linear equations One of the examples talks about coming up with an equation for net pay for an employee The examples is social security is about 8 of the adjusted gross pay and health insurance could be 500 So to find the net pay the linear equation would be net pay gross pay 008 gross pay 500 Another real world example that is used on this website is A cell phone plan might be 30 per month plus 25 cents per text message So the monthly bill would be cost 25number of messages 30 This equation refers to the y mx b equation Both of these equations are good examples of linear equations They both are correct linear equations too The first example of employment pay helps you find out what your net pay will be The second example figures out what you would pay monthly on a cell phone

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