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) Explain the function of statistics in data analysis. (4 Marks) b) The following table gives the weekly wages in shillings in a certain commercial organization. Weekly wages (sh.) 3032 3234 3436 3638 3840 4042 4244 4446 4648 4850 Frequency (f) 2 9 25 30 39 62 39 20 11 3 From the data calculate the third quartile wages and the number of wage earners receiving between sh.37 and sh. 45 per week. (6 Marks)
c) The following table shows the distribution of 105 families according to their expenditure per week. Number of families corresponding to the expenditures groups sh. (10 – 20) and sh. (30 – 40) are missing from the table. The Median and Mode for the distribution are sh.25 and sh. 24 respectively. Expenditure (in sh.) 0-10 10-20 20-30 30-40 40-50 No of families 14 ? 27 ? 15
Using the data calculate the missing frequencies and arithmetic mean. (10 Marks)
d) The following data shows business turnover and staff of a company for eight years from 1993 to 2000.
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Year 1993 1994 1995 1996 1997 1998 1999 2000 Business turnover (sh. Million) 45 50 60 75 80 110 150 170 Staff 2,600 3000 3100 3530 3850 4300 5870 7150
Fit a proper regression equation to estimate manpower in form of business turnover.
Estimate the staff requirement when the business turnover reaches sh.200 million. (10 Marks)
QUESSTION TWO (20 MARKS)
a) Explain the following techniques of sampling : i. Stratified sampling (3 Marks) ii. Multistage sampling (3 Marks) iii. Systematic sampling (3 Marks) b) The following information relate the prices of a commodity for three years.
Prices in (Sh.) Year/quarter 1st 2rd 3rd 4th
2001 78 62 56 71
2002 84 64 61 82
2003 92 70 63 85
Find the centered four-quarterly moving average. (11 Marks)
QUESTION THREE (20 MARKS)
a) Explain various differences between census and sample enumeration method. (8 Marks)
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b) (12 Marks) Marks No of students Above 0 150 10 140 20 100 30 80 40 80 50 70 60 30 70 14 80 0
QUESTION FOUR (20 MARKS)
a) Explain five importance of time series analysis in business decision making. (5 Marks) b) A bag contains 8 red and 5 white balls. Three balls are selected successively with replacement and without replacement. Find the probability that: i. Three white balls are selected with replacement. (5 Marks) ii. Three red balls are selected without replacement. ( 5 Marks)` iii. Find first four moments of a distribution about x=4 are 1, 4, 10, 45. Show that the mean 55 and calculate the moment about x=0. (4 Marks)
QUESTION FIVE (20 MARKS)
a) Distinguish between type 1 error and type 11 error. (6 Marks) b) Given the following ideal. Formula for index number. (14 Marks)
Commodities Base year Current year
Price Quantity Price Quantity
A 6 50 20 56
B 2 100 2 120
C 4 60 6 60
D 10 30 12 24
E 8 40 12 36
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