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- Computer analysis of satellite data has correctly forecast locations of economic oil deposits 80% of the time.
The last 24 oil wells drilled produced only 8...(Solved)
Computer analysis of satellite data has correctly forecast locations of economic oil deposits 80% of the time.
The last 24 oil wells drilled produced only 8 wells that were economic. The latest analysis indicates economic quantities at a particular location. What is the probability that the well will produce economic quantities of oil?
Date posted: December 7, 2018. Answers (1)
- The following table gives a bi-variate frequency distribution of 50 managers according to their age and salary
(in rupees).(Solved)
The following table gives a bi-variate frequency distribution of 50 managers according to their age and salary
(in rupees).
If a manager is chosen at random from the above distribution, find the chance that;
(i) he is in the age group of 30-40 and earns more than Rs.1500,
(ii) his earnings are in the range of Rs.2000-2500 and is less than 50 years old.
Date posted: December 7, 2018. Answers (1)
- Three groups of children contain respectively 3 girls and 1 boy; 2 girls and 2 boys; 1 girl and 3 boys. One child is selected...(Solved)
Three groups of children contain respectively 3 girls and 1 boy; 2 girls and 2 boys; 1 girl and 3 boys. One child is selected at random from each group, show that the chance that the three selected, consist of 1 girl and 2 boys is 13/32.
Date posted: December 7, 2018. Answers (1)
- A problem is given to three managers A, B, C whose chances of solving are ½, ?, ¼ respectively. What is the probability that the...(Solved)
A problem is given to three managers A, B, C whose chances of solving are ½, ⅓, ¼ respectively. What is the probability that the problem will be solved?
Date posted: December 7, 2018. Answers (1)
- Moving averages are often used in an effort to identify movements in share prices. Approximate monthly
closing prices (in Sh. per share) for Toys Children Ltd....(Solved)
Moving averages are often used in an effort to identify movements in share prices. Approximate monthly
closing prices (in Sh. per share) for Toys Children Ltd. for December 2000 through November 2001 are
shown below:
Date posted: December 6, 2018. Answers (1)
- The table below reports the annual net salary amounts for an accountant who began employment with an
auditing firm in 1995. In addition, the values of...(Solved)
The table below reports the annual net salary amounts for an accountant who began employment with an
auditing firm in 1995. In addition, the values of the Consumer Price Index (CPI) for 1995 through 1999 is
shown.
Required:
Determine whether there is a difference in percentage salary increase between 1995 and 1999 in terms of
stated (current) shillings amounts and in terms of constant (deflated salary, using CPI) shillings.
Date posted: December 6, 2018. Answers (1)
- Explain the following terms as used in index numbers:
i) Quantity indices.
ii) Base year.
iii) Chain index numbers.
iv) Retail price index.(Solved)
Explain the following terms as used in index numbers:
i) Quantity indices.
ii) Base year.
iii) Chain index numbers.
iv) Retail price index.
Date posted: December 6, 2018. Answers (1)
- "The standard deviation is the natural partner to the mean". Explain.(Solved)
"The standard deviation is the natural partner to the mean". Explain.
Date posted: December 6, 2018. Answers (1)
- Why is the mode not used extensively in statistical analysis?(Solved)
Why is the mode not used extensively in statistical analysis?
Date posted: December 6, 2018. Answers (1)
- Describe briefly how to estimate the median on a grouped frequency distribution graphically(Solved)
Describe briefly how to estimate the median on a grouped frequency distribution graphically.
Date posted: December 6, 2018. Answers (1)
- In what situation would a weighted mean be used?(Solved)
In what situation would a weighted mean be used?
Date posted: December 6, 2018. Answers (1)
- A machine produces circular bolts and, as a quality control test, 250 bolts were selected randomly and
the diameter of their heads measured as follows:(Solved)
A machine produces circular bolts and, as a quality control test, 250 bolts were selected randomly and
the diameter of their heads measured as follows:
Required:
Determine whether the customer is getting reasonable value if the label on the circular bolt advertises
that the average diameter of the head is 0.97642 cm.
Date posted: December 6, 2018. Answers (1)
- The table below shows the income per month of borrowers and the percentage of all mortgages as
provided by Building Society Mortgages in the year 2000.(Solved)
The table below shows the income per month of borrowers and the percentage of all mortgages as
provided by Building Society Mortgages in the year 2000.
Required:
i) Calculate some suitable measures of central tendency and dispersion and comment on your results.
ii) Explain with an example the value of descriptive statistics in the accounting function.
Date posted: December 6, 2018. Answers (1)
- What are some of the limitations of index numbers?(Solved)
What are some of the limitations of index numbers?
Date posted: December 6, 2018. Answers (1)
- Explain some of the uses of index numbers(Solved)
Explain some of the uses of index numbers.
Date posted: December 6, 2018. Answers (1)
- The index of industrial production in the Utopia country by July 2001 is given below:(Solved)
The index of industrial production in the Utopia country by July 2001 is given below:
Required:
i) Calculate the index of industrial production for all industries and manufacturing industries.
ii) Comment on your results.
Date posted: December 6, 2018. Answers (1)
- (a) Given the following input – output matrix and demand vector of shoes S, rubber R and glue G industries,
determine the production vector.(Solved)
(a) Given the following input – output matrix and demand vector of shoes S, rubber R and glue G industries,
determine the production vector.
(b) If in (a) above the demand of industries changes as follows:
S decreases by 10 units
R increases by 5 units C
increases by 10 units.
What should be the production levels?
Date posted: December 6, 2018. Answers (1)
- Drumstick Chicken Wings Ltd supplies chicken wings for Kuku Inn with the following demand and cost
functions for a given week:
P = 100 – 0.01 x...(Solved)
Drumstick Chicken Wings Ltd supplies chicken wings for Kuku Inn with the following demand and cost
functions for a given week:
P = 100 – 0.01 x - Price
TC = 50x + 30,000 - Total cost
Where:
x – number of chicken wings supplied.
Required:
i) Total revenue for Drumstick Chicken Wings Ltd.
ii) Determine the number of chicken wings that maximize weekly profit.
iii) What is the difference in profit if the Drumstick Chicken Wings Ltd. objective is to maximize revenue rather than profit?
Date posted: December 6, 2018. Answers (1)
- Explain the following terms as used in calculus:
i) Turning point.
ii) Second order derivative condition.
iii) Partial derivative.
iv) Mixed partial derivative.
v) Saddle point.(Solved)
Explain the following terms as used in calculus:
i) Turning point.
ii) Second order derivative condition.
iii) Partial derivative.
iv) Mixed partial derivative.
v) Saddle point.
Date posted: December 6, 2018. Answers (1)
- On the study of costs and revenue for production of biro pens by a small company ACO Ltd, the
following expressions were determined. Before production starts...(Solved)
On the study of costs and revenue for production of biro pens by a small company ACO Ltd, the
following expressions were determined. Before production starts a set-up cost of Sh.1500 existed.
AR = 600 – 0.5q Average revenue
MC = 140 – 8q + 0.15q2 Marginal cost
Required:
i) The expression for profit.
ii) At what quantity q is profit maximized.
iii) Is this quantity q also the point that revenue is maximized?
Date posted: December 6, 2018. Answers (1)