Corporations and small businesses need statistics and accounting principles related to profit and cost analysis. If you are in college and you already have a firm understanding of such business math principles, you might want to take the DSST Business Mathematics exam.
DSST is a prior learning assessment program designed to help students earn college credit for information they already know, without taking a class. If the DSST Business Mathematics exam sounds like something that might work for you, the first thing you need to do is make an appointment with your academic advisor. Your advisor will be able to tell you whether your college or university accepts DSST for credit and will help you determine whether this particular DSST exam is a good choice for your academic career.
The DSST Business Mathematics exam covers the following topics:
- Number sense
- Algebraic Concepts
- Business Applications
- Financial Mathematics. The Business Applications section comprises 50% of the exam questions, including topics such as index numbers, interest, depreciation, taxes, cost calculations, investment performance measures, and cost minimization, among others.
The best way to study for the DSST Business Mathematics exam is to use a DSST study guide, which will have sample questions and other helpful hints specifically geared for the DSST Business Mathematics exam.
You may also want to check out some introductory business math textbooks. It may be helpful to compare the study guide outline with the chapter titles from a textbook, and review the material that overlaps.
DSST Business Mathematics Practice Questions
1. Seven samples were obtained having the values 21, 22, 26, 29, 27, 26 and 24. The mean and standard deviation values are:
A. 22.4 and 2.6
B. 25 and 2.2
C. 25 and 2.6
D. 25.6 and 2.2
2. The factors (x – 3), (x – 4) and (x + 7) expand to give the equation:
A. x3 – 12×2 -7x + 84
B. x3 + 84×2 – 14x + 14
C. x3 – 37x + 84
D. x3 +14×2 – 7x + 84
3. Based on the following table, which describes the closing prices of a number of stocks traded on the New York Stock Exchange.
|Stock||Price per Share||Shares Traded|
Marjorie buys a package of stocks consisting of 100 shares each of Microsoft and Apple as well as 200 shares of Garmin at today’s closing prices, as shown in the table. What is the average price per share that she pays for these stocks?A. $37.22
4. The probability that an event A will not occur, 1-A, is represented in a Venn diagram as:
5. Rafael has a business selling computers. He buys computers from the manufacturer for $450 each and sells them for $800. Each month, he must also pay fixed costs of $3000 for rent and utilities at his store. If he sells n computers in a month, which of the following equations can be used to calculate his profit?
6. Bob decides to go into business selling lemonade. He buys a wooden stand for $45 and sets it up outside his house. He figures that the cost of lemons, sugar, and paper cups for each glass of lemonade sold will be 10?. Which of these expressions describes his cost for making g glasses of lemonade?
A. $45 + $0.1×g
7. A ticket agency finds that demand for tickets for a concert in a 25,000-seat stadium falls if the price is raised. The number of tickets sold, N, varies with the dollar price, p, according to the relationship . No matter how many tickets are sold, the cost of putting on the concert is $500,000. Which of the following equations can be used to calculate the profit Q made for any ticket price?
8. There is a big sale on at the clothing store on Main Street. Everything is marked down by 33% from the original price, p. Which of the following expressions describes the sale price, S, to be paid for any item?
9. Sally wants to buy a used truck for her delivery business. Truck A is priced at $450 and gets 25 miles per gallon. Truck B costs $650 and gets 35 miles per gallon. If gasoline costs $4 per gallon, how many miles must Sally drive to make truck B the better buy?
10. Company Sluggo issues 2,000 bonds that mature on December 31, 2020. The face amount for each bond is $10,000; the face rate is 6% paid semiannually (June 30 and December 31), and the market interest rate at the time of the issuance is 7%. What is the book value of the 2,000 bonds?
DSST Business Mathematics Practice Questions Answer Key