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Bbam 271: Business Statistics 1 Question Paper
Bbam 271: Business Statistics 1
Course:Bachelor Of Business Administration
Institution: Chuka University question papers
Exam Year:2013
CHUKA
UNIVERSITY
UNIVERSITY EXAMINATIONS
SECOND YEAR EXAMINATIONS FOR THE AWARD OF
BACHELOR OF BUSINESS ADMINISTRATION
BBAM 271: BUSINESS STATISTICS 1
STREAMS: BBAM Y2S1 TIME: 2 HOURS
DAY/DATE: THURSDAY 25/4/2013 8.30 AM – 10.30 AM
INSTRUCTIONS:
1. Answer Question ONE and any other TWO
2. All working must be clearly shown
3. Do Not Write on your Question Paper
Question 1 (30 Marks)
(a) Using relevant examples differentiate the following statements as used in statistics
(i) Probability distribution and frequency distribution
(ii) Index numbers and random numbers. [6 Marks]
(b) Explain two advantages of census survey over a sample survey. [2 Marks]
(c) The daily wages of hawkers are normally distributed with a mean of Sh. 150 and a variance of 144. Within what deviation on both sides of the population mean will 95% of the hawkers wages lie? [4 Marks]
(d) The table below shows the profits made by some Mutumba entrepreneurs.
Profit (Ksh. 000) 42 47 52 57 62 67
Entrepreneurs 7 7 15 11 9 6
Find the expected profit (use probability) [4 Marks]
(e) Outline the differences between systematic sampling and conviment sampling clearly stating two advantages and two disadvantages of each. [6 Marks]
(f) What is the role of statistics in entrepreneurship? [4 Marks]
(g) the average number of fish in a pond is 10 . if the number of fish pond is modeled by Poisson distribution, find the probability that on a given day that there were
(i) Exactly 8 fish [2 Marks]
(ii) More than 2 fish [2 Marks]
Question 2 (20 Marks)
(a) The following table shows annual sales of a certain company for a period of 11 years.
Year 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972
Sales(KSRM) 12 14 18 20 18 16 20 22 27 24 30
Determine:
(i) The least squares trend line. [5 Marks]
(ii) The 3 year moving average. [3 Marks]
(b) The data below relates to the prices and quantities of four commodities in years 2004 and 2006.
Commodity 2004 2006
Price (sh) Quantity Price (sh) Quantity
W 4 100 6 150
X 5 80 5 100
Y 2.5 60 6 72
Z 12 30 9 33
Construct the following:
(i) Laspayre’s Price Index [3 Marks]
(ii) Paasches Price Index [3 Marks]
(c) Briefly explain the four components of a time series. [6 Marks]
Question 3 (20 Marks)
(a) The following frequency distribution table below shows the heights in inches of a random sample of 195 students of Chuka University.
Class limit 62-63 64-65 66-67 68-69 70-71 72-73 74-75 76-77
frequency 2 16 30 48 48 39 11 1
Use the information to
(i) Compute the mean, median Q mode [7 Marks]
(ii) Calculate the standard deviation [3 Marks]
(b) The manager of a large branch of a notional chain of women’s clothing stores did a survey and the fable below shows the outcome.
Womens age(yrs) 18 21 36 45 23 53 25 37 30 32
Annual export clothes£ 330 300 180 120 310 200 200 150 250 190
Calculate the spearman’s rank coefficient of correlation and comment on the reonlt.
[7 Marks]
(c) Explain briefly the difference between regression analysis and correlation analysis. [3 Marks]
Question 4 (20 Marks)
(a) An average of 10 percent of the employees of a company are absent on any day. The company employs six switch board operators. What is the probability that
(i) All the switchboard operators being present on any day? [2 Marks]
(ii) At least four of them will be present? [3 Marks]
(iii) At most two of them will be present? [3 Marks]
(b) A sociologist claimed that the average of smokers who divorce their wives before attaining 10 years of marriage are 20 from a given population in one year. Mutiso decided to verify the claim on so took a sample of 140 and found that the average of those who divorce their wives before ten years of marriage are 15 with a standard deviation of 2. Assuming that this situation is defined by a normal distribution, at 5% significant level do you agree with the sociologist? [10 Marks]
(c) Define the term index numbers. [2 Marks]
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