{"id":1930,"date":"2022-05-17T15:24:57","date_gmt":"2022-05-17T15:24:57","guid":{"rendered":"https:\/\/opentextbc.ca\/businesstechnicalmath\/?post_type=back-matter&p=1930"},"modified":"2022-05-17T15:25:11","modified_gmt":"2022-05-17T15:25:11","slug":"glossary","status":"publish","type":"back-matter","link":"https:\/\/opentextbc.ca\/businesstechnicalmath\/back-matter\/glossary\/","title":{"raw":"Glossary (In Progress)","rendered":"Glossary (In Progress)"},"content":{"raw":"","rendered":"
\n
Absolute value<\/dfn><\/dt>\n
\n

\tThe absolute value of a number is its distance from 0 on the number line. The absolute value of a number is written as .<\/p>\n<\/dd>\n

Amortization<\/dfn><\/dt>\n
\n

Is the process of spreading out a loan into a series of fixed payments.<\/p>\n<\/dd>\n

Amount financed<\/dfn><\/dt>\n
\n

Is the purchase price of the item less any down payment.<\/p>\n<\/dd>\n

Annuity<\/dfn><\/dt>\n
\n

Is a series of payments made at fixed intervals.<\/p>\n<\/dd>\n

Annuity due<\/dfn><\/dt>\n
\n

Is an annuity where the payment is due at the beginning of each payment period.<\/p>\n<\/dd>\n

Coincident lines<\/dfn><\/dt>\n
\n

\tCoincident lines are lines that have the same slope and same y<\/em>-intercept.<\/p>\n<\/dd>\n

Complementary angles<\/dfn><\/dt>\n
\n

\tTwo angles are complementary if the sum of the measures of their angles is 90 degrees.<\/p>\n<\/dd>\n

Compound amount<\/dfn><\/dt>\n
\n

Is the total amount of principal and accumulated interest at the end of a loan or investment period.<\/p>\n<\/dd>\n

Compound interest<\/dfn><\/dt>\n
\n

Is when the interest on a loan or deposit is calculated based on both the initial principal and any accumulated interest from previous periods.<\/p>\n<\/dd>\n

Compounding period<\/dfn><\/dt>\n
\n

Is the span of time between when interest is calculated and when it will be calculated again.<\/p>\n<\/dd>\n

Conditional equation<\/dfn><\/dt>\n
\n

\tAn equation that is true for one or more values of the variable and false for all other values of the variable is a conditional equation.<\/p>\n<\/dd>\n

Consistent system<\/dfn><\/dt>\n
\n

\tA consistent system of equations is a system of equations with at least one solution.<\/p>\n<\/dd>\n

Contradiction<\/dfn><\/dt>\n
\n

\tAn equation that is false for all values of the variable is called a contradiction. A contradiction has no solution.<\/p>\n<\/dd>\n

Decimal<\/dfn><\/dt>\n
\n

\tA decimal is another way of writing a fraction whose denominator is a power of ten.<\/p>\n<\/dd>\n

Dependent equations<\/dfn><\/dt>\n
\n

\tTwo equations are dependent if all the solutions of one equation are also solutions of the other equation.<\/p>\n<\/dd>\n

Effective interest rate<\/dfn><\/dt>\n
\n

Takes the compounding periods into effect, so it is a better reflection of the actual interest charges.<\/p>\n<\/dd>\n

Equation<\/dfn><\/dt>\n
\n

An equation is made up of two expressions connected by an equal sign.<\/p>\n<\/dd>\n

Equivalent decimals<\/dfn><\/dt>\n
\n

\tTwo decimals are equivalent if they convert to equivalent fractions.<\/p>\n<\/dd>\n

Expression<\/dfn><\/dt>\n
\n

\tAn expression is a number, a variable, or a combination of numbers and variables and operation symbols.<\/p>\n<\/dd>\n

Finance charge<\/dfn><\/dt>\n
\n

Is the total of the\u00a0 interest charges on a loan.<\/p>\n<\/dd>\n

Frequency distribution<\/dfn><\/dt>\n
\n

A table or graph that illustrates the number of times that a specific outcome or data value occurs within an interval.<\/p>\n<\/dd>\n

Future value of the annuity<\/dfn><\/dt>\n
\n

Is\u00a0 the final amount of the annuity. It is the total of all annuity payments and the accumulated compound interest.<\/p>\n<\/dd>\n

Graph of a linear equation<\/dfn><\/dt>\n
\n

\tThe graph of a linear equation is a straight line. Every point on the line is a solution of the equation. Every solution of this equation is a point on this line.<\/p>\n<\/dd>\n

Histogram<\/dfn><\/dt>\n
\n

Represents the frequency distribution (number of occurrences) of each data value. The data values are grouped into intervals or \u201cbins\u201d.<\/p>\n<\/dd>\n

Histograms<\/dfn><\/dt>\n
\n

Used to illustrate the distribution<\/strong> of one specific data item such as height or temperature.<\/p>\n<\/dd>\n

Horizontal line<\/dfn><\/dt>\n
\n

\tA horizontal line is the graph of an equation of the form . The line passes through the y<\/em>-axis at .<\/p>\n<\/dd>\n

Identity<\/dfn><\/dt>\n
\n

\tAn equation that is true for any value of the variable is called an identity. The solution of an identity is all real numbers.<\/p>\n<\/dd>\n

Inconsistent system<\/dfn><\/dt>\n
\n

\tAn inconsistent system of equations is a system of equations with no solution.<\/p>\n<\/dd>\n

Independent equations<\/dfn><\/dt>\n
\n

\tTwo equations are independent if they have different solutions.<\/p>\n<\/dd>\n

Installment loan<\/dfn><\/dt>\n
\n

Is a type of loan that is repaid over time with a set number of scheduled payments (installments). The term of loan may be vary and could be few months or many years.<\/p>\n<\/dd>\n

Integer<\/dfn><\/dt>\n
\n

\tThe whole numbers and their opposites are called the integers: \u2026\u22123, \u22122, \u22121, 0, 1, 2, 3\u2026<\/p>\n<\/dd>\n

Intercepts of a line<\/dfn><\/dt>\n
\n

\tThe points where a line crosses the x<\/em>\u2013 axis and the y<\/em>\u2013 axis are called the intercepts of the line.<\/p>\n<\/dd>\n

Irrational number<\/dfn><\/dt>\n
\n

\tAn irrational number is a number that cannot be written as the ratio of two integers. Its decimal form does not stop and does not repeat.<\/p>\n<\/dd>\n

Least common denominator<\/dfn><\/dt>\n
\n

The least common denominator (LCD) of two fractions is the Least common multiple (LCM) of their denominators.<\/p>\n<\/dd>\n

Linear equation<\/dfn><\/dt>\n
\n

A linear equation is of the form , where A and B are not both zero, is called a linear equation in two variables<\/p>\n<\/dd>\n

Maturity date<\/dfn><\/dt>\n
\n

Is when all principal and\/or interest must be repaid to the lender.<\/p>\n<\/dd>\n

Maturity value<\/dfn><\/dt>\n
\n

Is the amount to be paid on the due date of a loan or the amount to be paid to an investor at the end of the period for which an investment has been made.<\/p>\n<\/dd>\n

Mean<\/dfn><\/dt>\n
\n

is the average of all data values.<\/p>\n<\/dd>\n

Median<\/dfn><\/dt>\n
\n

\u00a0<\/strong>is the data value that divides all ranked data values into two equal parts. It need not be one of the data values.<\/p>\n<\/dd>\n

Mode<\/dfn><\/dt>\n
\n

is the data value that occurs most often.<\/p>\n<\/dd>\n

Negative slope<\/dfn><\/dt>\n
\n

\tA negative slope of a line goes down as you read from left to right.<\/p>\n<\/dd>\n

Nominal interest rate<\/dfn><\/dt>\n
\n

Is normally the stated rate. It does not take the compounding periods into effect.<\/p>\n<\/dd>\n

Normal Distribution<\/dfn><\/dt>\n
\n

Is when the data values lie in a symmetric fashion around the mean. Half of the data values lie on either side of the mean.<\/p>\n<\/dd>\n

nth root of a number<\/dfn><\/dt>\n
\n

\tIf then b<\/em> is an nth<\/em> root of a<\/em>.
\n \tThe principal nth<\/em> root of a<\/em> is written
\n \tn<\/em> is called the index<\/em> of the radical.<\/p>\n<\/dd>\n

Opposite<\/dfn><\/dt>\n
\n

\tThe opposite of a number is the number that is the same distance from zero on the number line but on the opposite side of zero: means the opposite of the number. The notation is read \u201cthe opposite of .\u201d<\/p>\n<\/dd>\n

Ordered pair<\/dfn><\/dt>\n
\n

\tAn ordered pair gives the coordinates of a point in a rectangular coordinate system.<\/p>\n<\/dd>\n

Ordinary annuity<\/dfn><\/dt>\n
\n

Is an annuity where the payment is due at the end of each payment period.<\/p>\n<\/dd>\n

Origin<\/dfn><\/dt>\n
\n

\tThe point is called the origin. It is the point where the x<\/em>-axis and y<\/em>-axis intersect.<\/p>\n<\/dd>\n

Outlier<\/dfn><\/dt>\n
\n

A data observation that is deemed to be unusual based on the pattern of the other data values.<\/p>\n<\/dd>\n

Parallel lines<\/dfn><\/dt>\n
\n

\tLines in the same plane that do not intersect.<\/p>\n<\/dd>\n

Payment interval<\/dfn><\/dt>\n
\n

Is the time between successive annuity payments.<\/p>\n<\/dd>\n

Percent<\/dfn><\/dt>\n
\n

\tA percent is a ratio whose denominator is .<\/p>\n<\/dd>\n

Percentiles<\/dfn><\/dt>\n
\n

Divide ordered data into hundredths.<\/p>\n<\/dd>\n

Perpendicular lines<\/dfn><\/dt>\n
\n

\tLines in the same plane that form a right angle.<\/p>\n<\/dd>\n

Positive slope<\/dfn><\/dt>\n
\n

\tA positive slope of a line goes up as you read from left to right.<\/p>\n<\/dd>\n

Present value<\/dfn><\/dt>\n
\n

Is the current value of a sum of money that has been invested and has grown to a larger compound amount.<\/p>\n<\/dd>\n

Principal<\/dfn><\/dt>\n
\n

Is the amount of money that has been invested or borrowed.<\/p>\n<\/dd>\n

Proportion<\/dfn><\/dt>\n
\n

A proportion is an equation of the form , where , .The proportion states two ratios or rates are equal. The proportion is read \u201c is to , as is to \u201d.<\/p>\n<\/dd>\n

Quadrant<\/dfn><\/dt>\n
\n

\tThe x<\/em>-axis and the y<\/em>-axis divide a plane into four regions, called quadrants.<\/p>\n<\/dd>\n

Qualitative data<\/dfn><\/dt>\n
\n

Are the result of categorizing or describing attributes of a population using our senses such as sight or touch.<\/p>\n<\/dd>\n

Quantitative data<\/dfn><\/dt>\n
\n

Are the result of counting or measuring a specific attribute of a population.<\/p>\n<\/dd>\n

Quartiles<\/dfn><\/dt>\n
\n

Divide ordered data into four equal parts.<\/p>\n<\/dd>\n

Range<\/dfn><\/dt>\n
\n

Indicates the total spread in data values. It is the difference between the highest and lowest data values.<\/p>\n<\/dd>\n

Rate<\/dfn><\/dt>\n
\n

\tA rate compares two quantities of different units. A rate is usually written as a fraction.<\/p>\n<\/dd>\n

Ratio<\/dfn><\/dt>\n
\n

\tA ratio compares two numbers or two quantities that are measured with the same unit. The ratio of to is written to , , or .<\/p>\n<\/dd>\n

Rational number<\/dfn><\/dt>\n
\n

\tA rational number is a number of the form , where p<\/em> and q<\/em> are integers and . A rational number can be written as the ratio of two integers. Its decimal form stops or repeats.<\/p>\n<\/dd>\n

Real number<\/dfn><\/dt>\n
\n

\tA real number is a number that is either rational or irrational<\/p>\n<\/dd>\n

Rectangular coordinate system<\/dfn><\/dt>\n
\n

\tA grid system is used in algebra to show a relationship between two variables; also called the xy<\/em>-plane or the \u2018coordinate plane.\u2019<\/p>\n<\/dd>\n

Repeating decimal<\/dfn><\/dt>\n
\n

\tA repeating decimal is a decimal in which the last digit or group of digits repeats endlessly.<\/p>\n<\/dd>\n

Rise<\/dfn><\/dt>\n
\n

\tThe rise of a line is its vertical change.<\/p>\n<\/dd>\n

Run<\/dfn><\/dt>\n
\n

\tThe run of a line is its horizontal change.<\/p>\n<\/dd>\n

Sigma<\/dfn><\/dt>\n
\n

Is the uppercase Greek letter written\u00a0 \u2211. It is used to indicate the sum of a series of values.<\/p>\n<\/dd>\n

Simple interest<\/dfn><\/dt>\n
\n

Is interest that is calculated only once<\/strong> during the entire time period of the loan or deposit. Simple interest is calculated solely on the principal investment or loan.<\/p>\n<\/dd>\n

Skewed Distribution<\/dfn><\/dt>\n
\n

Is when more of the data values lie at one end of the distribution as compared to the other end.<\/p>\n<\/dd>\n

Slope formula<\/dfn><\/dt>\n
\n

\tThe slope of the line between two points and is .<\/p>\n<\/dd>\n

Slope of a line<\/dfn><\/dt>\n
\n

\tThe slope of a line is . The rise measures the vertical change and the run measures the horizontal change.<\/p>\n<\/dd>\n

Slope-intercept form of an equation of a line<\/dfn><\/dt>\n
\n

\tThe slope\u2013intercept form of an equation of a line with slope and y<\/em>-intercept, is, .<\/p>\n<\/dd>\n

Solution of an equation<\/dfn><\/dt>\n
\n

A value of a variable that makes a true statement when substituted into the equation.<\/p>\n<\/dd>\n

Solutions of a system of equations<\/dfn><\/dt>\n
\n

\tSolutions of a system of equations are the values of the variables that make all the equations true. A solution of a system of two linear equations is represented by an ordered pair (x<\/em>, y<\/em>).<\/p>\n<\/dd>\n

Square root notation<\/dfn><\/dt>\n
\n

\t is read \u2018the square root of m<\/em>\u2019
\n \tIf n<\/em>2 = m<\/em>, then for <\/p>\n

\tThe square root of m<\/em>, is a positive number whose square is m<\/em>.<\/p>\n<\/dd>\n

Standard deviation<\/dfn><\/dt>\n
\n

Measures the\u00a0 dispersion of the data values around the mean.<\/p>\n<\/dd>\n

Stem and leaf graph<\/dfn><\/dt>\n
\n

Divides each data observation into a stem and a leaf. The stem is the first digit or digits and the leaf is the last digit.<\/p>\n<\/dd>\n

Supplementary angles<\/dfn><\/dt>\n
\n

\tIf the sum of the measures of two angles is \u00b0, then they are called supplementary angles.<\/p>\n<\/dd>\n

System of linear equations<\/dfn><\/dt>\n
\n

\tWhen two or more linear equations are grouped together, they form a system of linear equations.<\/p>\n<\/dd>\n

Term of the annuity<\/dfn><\/dt>\n
\n

Is the time from the beginning of the first payment interval to the end of the last payment interval.<\/p>\n<\/dd>\n

Triangle<\/dfn><\/dt>\n
\n

\tA triangle is a geometric figure with three sides and three angles.<\/p>\n<\/dd>\n

Unit rate<\/dfn><\/dt>\n
\n

A unit rate is a rate with denominator of 1 unit.<\/p>\n<\/dd>\n

Vertex of an angle<\/dfn><\/dt>\n
\n

\tWhen two rays meet to form an angle, the common endpoint is called the vertex of the angle.<\/p>\n<\/dd>\n

Vertical line<\/dfn><\/dt>\n
\n

A vertical line is the graph of an equation of the form . The line passes through the x<\/em>-axis at .<\/p>\n<\/dd>\n

X\u2013 intercept<\/dfn><\/dt>\n
\n

\tThe point where the line crosses the x<\/em>\u2013 axis; the x<\/em>\u2013 intercept occurs when is zero.<\/p>\n<\/dd>\n

X-coordinate<\/dfn><\/dt>\n
\n

\tThe first number in an ordered pair .<\/p>\n<\/dd>\n

Y-coordinate<\/dfn><\/dt>\n
\n

\tThe second number in an ordered pair .<\/p>\n<\/dd>\n

Y-intercept<\/dfn><\/dt>\n
\n

\tThe point where the line crosses the y<\/em>\u2013 axis; the y<\/em>\u2013 intercept occurs when is zero.<\/p>\n<\/dd>\n

Z-score<\/dfn><\/dt>\n
\n

Is a standardized score that has been converted from a data value. The z-score indicates how many standard deviations away from the mean a data value lies.<\/p>\n<\/dd>\n<\/dl>\n","protected":false},"author":90,"menu_order":1,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"back-matter-type":[37],"contributor":[],"license":[],"class_list":["post-1930","back-matter","type-back-matter","status-publish","hentry","back-matter-type-glossary"],"_links":{"self":[{"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/pressbooks\/v2\/back-matter\/1930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/pressbooks\/v2\/back-matter"}],"about":[{"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/wp\/v2\/types\/back-matter"}],"author":[{"embeddable":true,"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/wp\/v2\/users\/90"}],"version-history":[{"count":1,"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/pressbooks\/v2\/back-matter\/1930\/revisions"}],"predecessor-version":[{"id":1931,"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/pressbooks\/v2\/back-matter\/1930\/revisions\/1931"}],"metadata":[{"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/pressbooks\/v2\/back-matter\/1930\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/wp\/v2\/media?parent=1930"}],"wp:term":[{"taxonomy":"back-matter-type","embeddable":true,"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/pressbooks\/v2\/back-matter-type?post=1930"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/wp\/v2\/contributor?post=1930"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/opentextbc.ca\/businesstechnicalmath\/wp-json\/wp\/v2\/license?post=1930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}