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Hbc2110:Introduction To Business Statistics Question Paper
Hbc2110:Introduction To Business Statistics
Course:Bachelor Of Commerce
Institution: Meru University Of Science And Technology question papers
Exam Year:2011
QUESTION ONE (30 MARKS)
(a) Distinguish between primary and secondary data and state the main sources of both data. (7 Marks) (b) Consider the following data set X = {11, 12, 15, 16, 19, 22, 13, 20}, calculate (i) Arithmetic mean (3 Marks) (ii) Harmonic mean (3 Marks) (iii)Geometric mean (3 Marks) (c) From the following data compute the price index taking 2000 as the base year. (3 Marks) Year 1998 1999 2000 2001 2002 2003 Price of sugar 50 52 51 53 56 60
(d) A basket contain 3 red, 4 white and 7 yellow beads. Three beads are taken at random without replacement. Calculate the probability of getting. (i) Three beads of the same colour (2 Marks) (ii) At least two white beads (2 Marks) (iii)A red bead followed by a yellow bead. (2 Marks) (e) (i) Distinguish between skewness and kurtosis (2 Marks) (ii) Using a clearly labeled diagram, show the position of mode, mean and median of a negatively skewed distribution. (3 Marks)
QUESTION TWO (20 MARKS)
The following data relates to annual profits in thousands of shillings made by an ICT firm in different years.
28 35 61 29 36 48 57 67 69 50
48 40 47 42 41 37 51 62 63 33
31 32 35 40 38 37 60 51 54 56
37 46 42 38 61 59 58 44 39 57
38 44 45 45 47 38 44 47 47 64
(a) Taking 25-34, 35-44 e.t.c as class intervals, construct a frequency distribution table for the data. (5 Marks) (b) Construct an ogive and find the; (15 Marks) (i) Number of firms having profit between Sh37000 and Sh580000 (ii) Profit above which 10% of the firms will have their profits. (iii)Mean profit
QUESTION THREE (20 MARKS)
(a) Define time series and state four components of a time series (5 Marks) (b) Consider the following time series Period Time series 1 15 2 27 3 20 4 14 5 25 6 11
Calculate the four-period moving average and the centered moving average for the series. (5 Marks) (c) (i) What is meant by correlation? (2 Marks) (ii) Ten competitors in a beauty contest are ruled by 3 judges in the following order 1st judge 1 6 5 10 3 2 4 9 7 8 2nd judge 3 5 8 4 7 10 2 1 6 9 3rd judge 6 4 9 8 1 2 3 10 5 7 Use the rank correlation coefficient to determine which pair of judges has the nearest approach to common tastes in beauty. (8 Marks)
QUESTION FOUR (20 MARKS)
(a) Consider the data below Length (CM) Frequency 325-329 5 330-334 12 335-39 25 340-344 11 345-349 7
Calculate: (i) The mode (3 Marks) (ii) The median (3 Marks) (iii)Mean, variance and standard deviation (8 Marks) (b) The following data relates to the prices and quantities of four commodities in the years 1992 and 1993. Construct the following index numbers of price for the year 1993 by using 1992 as the base year. (i) (3 Marks) (ii) ex (3 Marks)
Commodity 1992 1993 Price Quantity Price Quantity A 5 100 6 150 B 4 80 5 100 C 2.5 60 5 72 D 12.0 30 9 33
QUESTION FIVE (20 MARKS)
A garage employs two mechanics A and B, but the service manager never tells you which one worked on your car. All you know is that A does twice as many jobs as B, A does a satisfactory job three out of four times and B does satisfactorily on only two out of five jobs. Suppose you take your car in for work. Find the probabilities of the following events.
(i) Mechanic A does the work with satisfactory results (4 Marks) (ii) Mechanic B does the work with satisfactory results (4 Marks) (iii)The results are satisfactory (4 Marks) (iv) The results are unsatisfactory (4 Marks) (v) Either a does the work or the results are satisfactory or both (4 Marks)
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