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Introduction To Business Statistics Question Paper

Introduction To Business Statistics

Course:Bachelor Of Commmerce

Institution: Dedan Kimathi University Of Technology question papers

Exam Year:2010

1
KIMATHI UNIVERSITY COLLEGE OF TECHNOLOGY UNIVERSITY EXAMINATIONS 2009/2010 SPECIAL EXAMINATION FOR BACHELOR OF COMMERCE HBC 2121: INTRODUCTION TO BUSINESS STATISTICS DATE: MAY 2010 TIME: 2 HOURS Instructions: Answer question ONE and any other TWO questions QUESTION ONE (30 MARKS)
a) Distinguish between primary and secondary sources of data.
b) Given the following observations, prepare a classified frequency distribution:
110 108 126 132 149 136 125 112 138 155 125 138 136 130 120 148 140 125 119 111 154 147 165 137 145 132 150 137 142 135 125 126 ( 6marks) c) Calculate mean, median and mode from the following data:
(10 marks)
d) State four characteristics of a good measure of dispersion. (4 marks)
e) Construct an index number taking 1998 as base, for the following data on the prices of various commodities: ( 6marks)
Commodity
Price in Rupees 2003
Price in Rupees 1998
Butter (kg)
32.00
20.00
Class interval
Frequency
10-20
4
10-30
16
10-40
56
10-50
97
10-60
124
10-70
137
10-80
146
10-90
150
2
Cheese(kg)
36.00
24.00
Milk(Lt.)
3.40
2.50
Bread(200gm)
1.80
1.50
Eggs(Dz)
4.80
3.50
Ghee(kg)
35.00
27.00
QUESTION TWO (20 MARKS)
a) A certain data set was collected on a random variable x and the following summaries made;
40 40 Si=1 x=240 and Si=1 x2 =2520
i) Find the mean and the standard deviation. (3marks)
ii) Write down the answers to i) if 10 is subtracted from each of the original values. ( 2marks)
b) The following table gives the weighs in grams of some parcels received by DHL.
Weight
310-400
410-500
510-600
610-700
710-800
810-900
frequency
8
14
18
20
11
9
i) calculate the mean and the standard deviation
ii) calculate the position of parcel weighing 650gm. (15 marks)
QUESTION THREE (20 MARKS)
a) What are index numbers? What are the uses of index numbers? (5marks)
b) The table below gives the monthly cost in Ksh. Of some necessities in two towns in the outskirts of Nairobi City. Each necessity has been given a weight as a measure of its importance to living and working in Nairobi. Anne got a job in the city and is contemplating residing in one of the two towns. Taking Town A as the base region , calculate the cost of living index and advise Anne accordingly (15marks)
Item/Commodity
Cost (Town A)
Cost (Town B)
Weight
Food
7500
6000
2.0
Clothes
500
450
1.8
Shelter
7500
8000
1.5
Transport
1600
1800
1.2
Security
1000
900
1.4
others
8000
10000
1.0
3
QUESTION FOUR (20 MARKS)
a) Giving relevant examples define the term time series. (2marks)
b) Briefly outline the components of a time series. (4marks)
c) The number of deaths in hundreds of a particular town for 1961-1970 were as follows
Year
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
population
33
24
27
41
34
25
27
26
24
25
Showings clearly the corresponding time calculate 5- year moving averages of the deaths. (8 marks)
d) Students who graduate from law schools must still pass a bar examination before becoming lawyers. Suppose that in a particular jurisdiction the pass rate for first-time test takers is 72%. Candidates who fail the first exam may take it again several months later. Of those who fail their first test, 88% pass their second attempt. Find the probability that a randomly selected law school graduate becomes a lawyer. Assume that candidates cannot take the examination more than twice. (6marks)
QUESTION FIVE (20 MARKS)
a) A number is randomly selected from integers between 20 and 34 inclusive. Find the probability that;
i) Its second digit is greater than its first digit
ii) It is divisible by four
iii) Its second digit is greater than its first digit and it is divisible by four
iv) Its second digit is greater than its first digit or it is divisible by four.
b) A fair coin is tossed 10 times. What is the chance that one observes exactly 8 heads?
c) The annual bonuses ($1,000) of six randomly selected employees and their years of service were recorded and listed next. Find the least squares line that gives the relationship between the two variables.
Years, x
1
2
3
4
5
6
Bonus, y
6
1
9
5
17
12

Introduction To Business Statistics Question Paper

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