Kegan and Louise are planning to move closer to Kegan's new job.  Kegan wants a short commute to work. They also want to minimize their mortgage debt.  During which step of the Quantitative Reasoning Process would you expect Kegan and Louise to create a chart showing the relationship of travel time to average home cost near the new job?Group of answer choicesEvaluate your reasoningIdentify key variables and make key assumptionsUnderstand the problemMake an informed decisionApply quantitative tools

Identify step two of the Quantitative Reasoning Process.Group of answer choicesCarry out calculationsApply quantitative toolsUnderstand the ProblemIdentify key variables & make key assumptionsCreate statistical charts & graphsEvaluate your reasoningMake an informed decision

Bonnie saved $1300 to spend on an amazing trip. She is using the Quantitative Reasoning Process to decide which kind of trip to take. She is now at the step where she is identifying key variables and making key assumptions. Which of the following activities would Bonnie do in this step?Group of answer choicesNarrow her choice to three possible trips to make calculations easier, then list major cost categories that could change such as transportation, lodging, activities, and food.Decide which trip best meets her budget and preferences.Look at the pictures she took on her trip and think about how she can better stay under her budget the next time she travels.Forget planning and book a one-way flight to Thailand in first class for $1250.Add up all her estimates for transportation, lodging, activities, and food then subtract the total from $1300 for each possible trip.

Which of the following correctly lists the five steps of the Quantitative Reasoning Process in order?Group of answer choicesUnderstand the problem, Identify key variables & make key assumptions, Apply quantitative tools, Make an informed decision, and Reflect & evaluate.Understand the problem, Identify key variables & make key assumptions, Reflect & evaluate, Apply quantitative tools, and Make an informed decision.Understand the problem, Reflect & evaluate, Identify key variables & make key assumptions, Create statistical charts & graphs, and Make informed decisions.Understand the problem, Identify key variables & make key assumptions, Create charts & graphs, Carry out calculations, Reflect & evaluate.Understand the problem, Carry out calculations, Identify key variables & make key assumptions, Make informed decisions, and Apply quantitative tools.

In our readings, we studied Craig's decision to buy a car. Craig knows the following two Excel commands that he used during the Quantitative Reasoning Process:PMT(rate, nper, PV, FV)FV(rate, nper, pmt, PV)In step3 of the Quantitative Reasoning Process, quantitative tools, Craig used the following command in Excel:=PMT(0.04/12, 7*12, -5000, 0)The Excel output for this command was $68.34. Which of the following best describes what this output represents?Group of answer choicesIf Craig saves $405.85 per year in an account paying 0.04% interest he will be able to buy a $5000 car in 84 years.The monthly payment on a car loan of $5000, with an interest rate of 0.33% for 7 years, will be $68.34 times 12 (or $820.08 per month).If Craig saves $68.34 per month in an account paying 4% interest he will be able to buy a $5000 car in 7 years.The monthly payment on a car loan of $5000, with an interest rate of 0.04% for 84 months, will be $68.34.The monthly payment on a car loan of $5000 with an interest rate of 4% for 7 years will be $68.

Lanette drives her car to campus every day. She wants to know how much money she will save if she starts riding her bicycle to campus instead. She is using the Quantitative Reasoning Process to answer her question. Identify the function below that would be most useful for Lanette.Group of answer choicesA function with the output of "distance to school" and inputs of "cost of gas", "gas mileage of the car," and "daily cost to drive to campus."A function with the output of "cost of gas," and inputs of "daily cost to drive to campus," and "daily savings by biking."A function with the output of "daily cost to drive to campus" and inputs of "cost of gas", "gas mileage of the car," and "distance to school."A function with the output of "daily cost to drive to campus" and inputs of "cost of bike repairs", "cost of extra time to bike," and "distance to school."A function with the output of "distance to school," and inputs of "cost of bike repairs", "cost of extra time to bike," and "daily savings of biking."