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:2012
QUESTION ONE (30 MARKS)
a) Discuss TWO applications and two limitation of statistics (4 Marks) b) Describe THREE precautions that should be considered while using secondary dates. ( 3 Marks) c) A sample survey of the habit of news paper reading among students of three college including day students and hostel students is collected and following information is obtained. PARTICULARS A B C Total day students 54% 55% 58% Regular students 72% 75% 79% Readers among regular students 725 40% 44% Draw a table showing the reading habits among students. ( 6 Marks) d) Describe the following term: (i) Chronological classification ( 1 mark) (ii) Discrete scenes ( 1 Mark) (iii) Absolute measure of dispension ( 1 Mark) (iv) Sample space ( 1 Mark) (v) Cyclical variation ( 1 mark) e) If two factors A and B engaged in the same industry. The average monthly wages and standard deviation are as follows: Factory Average Monthly Standard Deviation No. of workers Wages Shs.
A 4600 500 100
B 4900 400 80
2
(i) Which factory pays larger amount of monthly wages ( 4 Marks) (ii) Which factory shows greater variability of wages ( 2 Marks) (iii)Find mean of all its workers in two factories ` ( 3 Marks) (iv) Find the standard deviation of all the workers of two factors ( 3 marks)
QUESTION TWO
A financial analysis has gathered the following data about the relationship between income and investment in securities in respect of eight in randomly selected families.
Income (shs. 000) 8 12 9 24 143 37 19 16 Percentage invested in Securities 36 25 33 15 28 19 20 22
Required:
a) Develop an estimating equation that best describe this data. b) Find the coefficient of determinant ( 7 Marks) c) Interpret the coefficient of determinant ( 2 marks) d) Calculated the standard error and estimate for this relationship ( 4 Marks) e) Describe FOUR uses of correction analysis ( 4 Marks) f) Describe THREE limitation of correction analysis
QUESTION THREE
A sample of 20 batches of a chemical was tested for concentration of impurities the result obtained was:
Percentages of impurities
022 224 426 628 880
Batches 2 3 6 5 4
Compute the following percentage impurity levels.
a) The mean ( 3 Marks) b) The standard deviation ( 3 Marks) c) The mode ( 3 Marks) d) The mediam ( 3 Marks) e) Using a clearly labelled diagram show the position of the mean, mode and median ( 4 Marks) f) Using Karl pearson`s coefficient of skerness explain the distribution of the above data ( 4 Marks)
3
QUESTION FOUR
A hair salon is considering price adjustments in its services. The manager want to calculate Laspeyre and Paasche indexes using the following data for prices and the number of services rendered. January is taken as the base period.
Price Quantity
Item/month Jan Feb March Jan Feb March
A 10 12 16.50 20 22 25
B 8 10.5 9.5 25 20 25
C 12 13.5 14.0 30 31 33
a) Clearly distinguish between laspeyre and paasche weighed composite price index ( 4 Marks) b) From the above data and using January as the base period calculate (i) Laspeyres price index ( 6 Marks) (ii) Paashe price index ( 6 Marks)
c) Is it wise for the manager to increase the price of the service offered? Explain.
QUESTION FIVE
a) The CEO of a certain airline company in Uganda- Kenya wishes to determine the average growth rate in revenue based on the figures in the table. If the average growth rate is less than the industry average of 10 per cent, a new advertising campaign will be undertaken.
Revenue for the caompaign
YEAR REVENUE SHS.
2008 50,000,000
2009 55,000,000
2010 66,000,000
2011 60,000,000
2012 78,000,000
(i) Compute the geometric mean ( 4 Marks)
(ii) Should the company undertake a new advertising campaign? Explain. ( 4 Mark
4
b) The method of instruction in University applied statistics course is changing. Historically, most coursers were taught with an emphasis on manual calculation. The alternative is to employ a computer and a software package to perform the calculations. An analysis of applied statistics courses investigated whether the instruction educational background is primarily mathematic 0 or statistics) or some other field. The result of this analysis is the accompanying table of joint probabilities.
STATISTIC COURSE EMPASISES MANUAL CALCUALTION
STATISTICS COURSE EMPLOY COMPUTER& SOFT WARE
Mathematics and statistics education
0.23
0.36 Other education 0.11 0.30
(i) What is the probability that a randomly selected applied statistics course instructor whose education was statistics emphasis manual calculation. ( 4 Marks) (ii) What proportion of applied statistics course employs a computer and software.
( 4 Marks)
(iii) Are educational background of the instructor and the way his or her course is taught independent. ( 4 Marks)
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