Vocabulary

Term Definition
y-axis The vertical axis on a coordinate grid.
Quadrants The four parts to coordinate grid.
Orgin The point (0,0) on a coordinate grid.
Relation A set of ordered pairs.
Function A set of ordered pairs where the x's do not repeat.
Domain The x values to a set of ordered pairs.
x-axis The horizontal axis on a coordinate grid.
Range The y values to a seat of ordered pairs.
Discrete Individual points that would not be connected when graphed because not all rational values define the domain. (Numbers of buses and students)
Continuous An infinite number of points that are connected when graphed because all real values can be defined in the domain. (hours worked and payed)
Ordered pair A point in the form of (x,y) or (x,f(x))
Variable A letter used to represent a quantity in algebra
Vertical line test A method used to determine if a graph is a function
Correlation The trend for a set of data. It can be positive, negative, constant or no correlation.
Independent variable The x value of the function. Also called the domain.
Dependent variable The y value of the function. Also called the range.
The symbol f(x) Means y.
Evaluate To solve.
Commutative Property The order of the numbers change
Associative Property The groups change (parenthesis change)
Distributive Property The numbers in a sum or difference are both multiplied by the same value.
Simplify Make the problem smaller by combining like terms.
Like Terms Terms that have the same variable or same variable with the same exponents.
Ratio Comparison of two quantities.
Proportion Comparison of two ratios.
Inequality An algebraic expression that uses the symbols <,>.

Vocabulary

Term Definition
Y-Axis The vertical axis on a coordinate grid.
Quadrants The four parts to a coordinate grid.
Origin The point (0,0) on a coordinate grid.
Relation A set of ordered pairs.
Function A set of ordered pairs where the x's do not repeat.
Domain The x values to a set of ordered pairs.
X-axis The horizontal axis on a coordinate grid.
Range The Y values to a set of ordered pairs.
Discrete Individual points that would not be connected when graphed because not all rational values define the domain.(Number of buses and students.)
Continous An infinite number of points that are connected when graphed because all real values can be defined in the domain.(Hours worked and pay.)
Ordered Pair A point in the form of (X,Y) or (X,F(X))
Variable A letter used to represent a quantity in Algebra.
Vertical line test A method used to determine if a graph is a function.
Correlation The trend for a set of data. It can be positive, negative,constant, or no correlation.
Independent Variable The X value of the funstion. Also called the domain.
Dependent Variable The y value of the function. Also called the range.
The symbol f(x) Means Y.
evaluate to solve
commutative property the order of the numbers change
associative property the groups change(parenthesis change)
distributive property the numbers in a sum or difference are both by the same value
simplify make the problem smaller by combining like terms
like terms terms that have the same variable or same variable with the same exponents
ratio comparison of two quantities
proportion comparison of two ratios
inequality an algebraic expression that uses the symbols (,)

Ratios, Rates, and Porportions

Term Definition
rate a measure, quantity, or frequency, typically one measured against some other quantity or measure
unit rate The estimated market value contribution for each unit of an improvement
porportions a part, share, or number considered in comparative relation to a whole

Wirtz Math Finance Chapter 6 Lesson 4

Term Definition
employee benefits (C06L4 p310) Value-added options that an employer may choose to offer employees; may include forms of insurance, paid vacation time, etc.
insurance (C06L4 p310) A contract (policy) in which an individual or entity receives financial protection or reimbursement against losses.
paid vacation time (C06L4 p310) Paid time off that an employer may offer to employees as an employee benefit.
paid holiday time (C06L4 p310) Paid time off for holidays that an employer may offer to employees as an employee benefit.
retirement plans (C06L4 p310) A means that employers may offer as to save for retirement; these types of plans may include pensions or 401K.
stock ownership plans (C06L4 p310) A plan that allows employees to buy or receive company stock; offered as an employee benefit.
childcare leave (C06L4 p310) An employee benefit that allows employees paid time off to care for sick children or newborns.
family health care (C06L4 p310) A type of health insurance that covers all members of the immediate family for health care bills to the extent outlined in the coverage plan.
individual health care (C06L4 p310) A type of health insurance that covers only the individual to the extent outlined in the coverage plan.
pension (C06L4 p310, p456) A type of retirement plan where an employee receives compensation from an employer after retirement.
unemployment insurance (C06L4 p310) A government program that offers benefits to eligible employees who, through no fault of their own, have lost their job.
base period (C06L4 p311) A fixed period of time that most states use in an unemployment insurance formula to determine weekly benefits.
worker's compensations (C06L4 p311) Assistance to employees who are injured while working at their job; a program that is governed by state laws.

Wirtz Math Finance Chapter 6 Lesson 3

Term Definition
commission (C06L3 p303) A method of payment where an employee receives a percentage of the amount of sales produced by that employee.
royalty (C06L3 p303) Money that employees or others receive based on sales, for example an author or musician.
pieceworker (C06L3 p303) A type of worker who is paid for each item the employee produces.
piecework pay (C06L3 p303) The set amount of money that a worker receives for each item the individual produces.

Wirtz Math Finance Chapter 6 Lesson 2

Term Definition
weekly (C06L2 p296) Once per week.
biweekly (p156, C06L2 p296) Every two weeks.
semimonthly (C06L2 p296) Two times a month.
monthly (C06L2 p296) Twelve times a year.
direct deposit (p116, C06L2 p296) Payroll or other types of checks that are directly and electronically deposited into a bank account.
hourly rate (C06L2 p296) a set amount that an employee is paid for each hour of work
regular hours (C06L2 p297) The set number of hours that an employee is expected to work.
overtime hours (C06L2 p297) The extra hours an employee works beyond their regular hours.
overtime hourly rate (C06L2 p297) The hourly wage an employee receives for any overtime hours.
time-and-a-half overtime rate(C06L2 p297) The hourly rate an employee usually gets paid for overtime hours.
double-time pay (C06L2 p297) An overtime rate that is two times the hourly rate.
gross pay/income (C06L2 p297, p344, 1.2) The total pay, which is the sum of an employee's hourly pay and overtime pay. Or wages or salary before deductions for taxes and other purposes.
minimum wage (C06L2 p297) The hourly rate that federal law allows as the least hourly rate to be paid to an employee in the United States.

Wirtz Math Finance Chapter 6 Lesson 5

Term Definition
Social Security (C06L5 p316, 1.2) An insurance program available through the United States government that provides income to people who retire, become disabled, or who receive survivor's benefits.
FICA (C06L5 p316, 1.2) The Federal Insurance Contributions Act that established Social Security insurance.
FICA tax (C06L5 p316) Social Security and Medicare taxes both fall in this category; the money that an employee and employer contribute to Social Security and Medicare is used to pay current benefits to others.
Social Security tax (C06L5 p316) The amount of Social Security a worker pays depends on the Social Security percentage and the maximum taxable income for that year; the amount is split between the employee and the employer.
Medicare tax (C06L5 p316) The amount of tax an employee pays is a set percentage of the entire income with no maximum amounts; the amount paid is split between the employee and employer.
maximum taxable income (C06L5 p316) The maximum income on which a person must pay Social Security tax in a given year.
Social Security number (C06L5 p316) A unique, nine-digit number that identifies a resident of the United States; this number is used to keep track of social security taxes that are paid.

vocabulary

Term Definition
commutative property of multiplication
associative property of multiplication
identity property of multiplication
zero property of multiplication