# MATH MMA Final Test - LHHS

## Quiz by Luc Falies

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25 questions
• Q1
300s
• Q2
300s
• Q3
300s
• Q4
300s
• Q5
300s
• Q6
300s
• Q7
300s
• Q8
300s
• Q9
300s
• Q10
300s
• Q11
300s
• Q12
A Bernoulli distribution is a random experiment that has only two outcomes (usually called a “Success” or a “Failure”) - An example of Bernoulli distribution is the probability of getting a heads (a “success”) while flipping a coin is 0.5 (1/2). The probability of “failure” is 1 – P (1 minus the probability of success, which also equals 0.5 (1/2) for a coin toss).
TRUE
FALSE
300s
• Q13
The formula for compound interest is P (1 + r/n)^(nt) ...
where P is the initial principal balance, r is the interest rate, n is the number of times interest is compounded per time period and t is the number of time periods.
where P is price you pay to the bank to open an account, r is the rate at which your money will double, n is the number of times per year you can withdraw money and t is the time period the bank will let you invest.
300s
• Q14
Knowing that the Simple Interest Formula is I=Prt COMPUTE THE INTEREST if you invest \$1000 for 2 years at 3%
I = \$ 6,000.00
I = \$ 60.00
I = \$ 6
300s
• Q15
Credit Limit – The term credit limit refers to the MINIMUM amount of credit a financial institution extends to a client.
TRUE
FALSE
300s

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