7th Grade Math Benchmark Review

Front

What is net worth?

Back

Net worth is the total value of an individual's assets minus their liabilities. It represents what a person owns versus what they owe.

Front

How do you calculate net worth?

Back

Net worth = Total Assets - Total Liabilities.

Front

What is a sample space in probability?

Back

A sample space is the set of all possible outcomes of a probability experiment.

Front

How do you determine the sample space for multiple choices?

Back

Multiply the number of choices for each category. For example, if there are 2 food options and 4 drink options, the sample space is 2 x 4 = 8.

Front

What is a proportion?

Back

A proportion is an equation that states that two ratios are equal.

Front

How do you find the expected number of occurrences in a population?

Back

Multiply the total population by the probability of occurrence. For example, if 3 out of 4 homes have a computer in a town of 200 homes, expected = 200 x (3/4) = 150.

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and services, collected by the seller and paid to the government.

Front

How do you calculate sales tax?

Back

Sales Tax = Sale Price x Sales Tax Rate.

Front

What is a percentage decrease?

Back

Percentage decrease is the reduction in value expressed as a percentage of the original value.

Front

How do you calculate percentage decrease?

Back

Percentage Decrease = [(Original Price - New Price) / Original Price] x 100.