AMDM Week 3 Flashcard

Front

What is net income?

Back

Net income is the amount of money an individual earns after all deductions, such as taxes and other withholdings, have been subtracted from their gross income.

Front

How do you calculate weekly net income?

Back

To calculate weekly net income, first determine gross income by multiplying hourly wage by hours worked. Then subtract federal income tax and FICA from the gross income.

Front

What is the formula to calculate a tip?

Back

Tip = Total Bill Amount x Tip Percentage.

Front

How do you calculate the total cost of a meal including tax and tip?

Back

Total Cost = Food Bill + (Food Bill x Sales Tax) + (Food Bill x Tip Percentage).

Front

What is a weighted average?

Back

A weighted average is an average that takes into account the varying degrees of importance of the numbers in a data set.

Front

How do you calculate a weighted grade average?

Back

Weighted Grade Average = (Grade1 x Weight1 + Grade2 x Weight2 + ... + GradeN x WeightN) / Total Weights.

Front

What is the aspect ratio of a screen?

Back

The aspect ratio is the ratio of the width to the height of a screen, expressed as two numbers separated by a colon.

Front

How do you find the width of a screen given the diagonal and aspect ratio?

Back

Width = Diagonal / √(Aspect Ratio^2 + 1).

Front

What is FICA?

Back

FICA stands for the Federal Insurance Contributions Act, which mandates a payroll tax to fund Social Security and Medicare.

Front

What is the purpose of calculating taxes withheld from income?

Back

Calculating taxes withheld ensures that individuals pay the correct amount of taxes owed to the government throughout the year.