2026-2027 QUESTIONS AND CORRECT
ANSWERS GRADED A+
Julie is a hair stylist. She makes $10.25 an hour, plus $6 extra for every haircut she
performs. This week she worked a total of 40 hours and performed 46 haircuts.
How much money did she make?
$686.05 10.25 x 40 = 410.05 46 x 6 = 276
410.05
+276
=686.06
Business statistics is a scientific approach to decision-making in the face of risk
and is used in many disciplines, such as financial analysis, econometrics, auditing,
production and operations, and marketing research. The main objective of business
statistics is to make inferences about certain characteristics of a population based
on information contained in a random sample from the entire population.
Statistical forecasting concentrates on using the past to predict the future by
identifying trends, patterns and business drives within the data to develop a
forecast. This forecast is referred to as a statistical forecast because it uses
mathematical formulas to identify the patterns and trends while testing the results
for mathematical reasonableness and confidence. Statistical forecasting is used for
forecasting sales and budget.
,If you count 1 to 100, how many 5s will you pass on the way?
There are 20 numbers that contain 5 in it
5, 15, 25, 35, 45, 50, 51 to 59, 65, 75, 85, 95
(55 contains 2 five's)
So the answer is 20 ...
Question #1
Statistical forecasting deals with estimating the likelihood of an event taking place
in the future, based on available data
Answer options
True
False
Can't say
The correct answer is: True
How to solve this question?
The passage says that statistical forecasting concentrates on using the past to
identify patterns and trends. This information is used to predict the future, such as
forecasting sales and budget. Therefore, the answer is "True".
,Business statistics is a scientific approach to decision-making in the face of risk
and is used in many disciplines, such as financial analysis, econometrics, auditing,
production and operations, and marketing research. The main objective of business
statistics is to make inferences about certain characteristics of a population based
on information contained in a random sample from the entire population.
Statistical forecasting concentrates on using the past to predict the future by
identifying trends, patterns and business drives within the data to develop a
forecast. This forecast is referred to as a statistical forecast because it uses
mathematical formulas to identify the patterns and trends while testing the results
for mathematical reasonableness and confidence. Statistical forecasting is used for
forecasting sales and budget.
Question #2
Using statistics in decision-making eliminates business risks
Answer options
True
False
Can't say
The correct answer is: Can't say
How to solve this question?
The information given is that business statistics are used for decision-making in the
face of risk. There is no suggestion in the passage that such use eliminates business
risks, and the answer therefore is "Can't say".
, Question #3
There is no kid that doesn't like chocolate.
What inference can be drawn from this sentence?
Answer options
A. Everyone who likes chocolate is a kid.
B. All kids like chocolate.
C. There are kids that don't like chocolate.
D. Only kids like chocolate.
The correct answer is: All kids like chocolate.
How to solve this question?
A double negative (no kid + doesn't like) turns into a positive. A no statement turns
into an all statement. Kid => likes chocolate
Soy- and rice- based diets are very popular in Third World countries. The soy bean
has a higher phytate content than any other grain or legume that has been studied.
Phytate is an organic acid, present in the bran or hulls of all seeds, which blocks
the uptake of essential minerals - calcium, magnesium, iron and especially zinc - in
the intestinal tract.
Soy beans seem to be highly resistant to many phytate-reducing techniques such as
long, slow cooking. Only a long period of fermentation will significantly reduce
the phytate content of soy beans. Thus, fermented products such as tempeh and