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Bcom 271: Business Statistics I Question Paper

Bcom 271: Business Statistics I

Course:Bachelor Of Commerce

Institution: Chuka University question papers

Exam Year:2013

CHUKA

UNIVERSITY

UNIVERSITY EXAMINATIONS

SECOND YEAR EXAMINATION FOR THE AWARD OF DEGREE OF
BACHELOR OF COMMERCE

BCOM 271: BUSINESS STATISTICS I

STREAMS: BCOM Y2S2 TIME: 2 HOURS

DAY/DATE: TUESDAY 13/8/2013 2.30 P.M. – 4.30 P.M.
INSTRUCTIONS:

Answer Question ONE and any other two questions.
All working must be clearly shown.
Do not write on the questions paper.

QUESTION ONE (30 MARKS)

Briefly distinguish between the following statistical terms.

Sampling and census method
A statistic and parameter
Primary and secondary data [6 marks]

The times taken by a group of people to seal a business deal are as shown below.

Time (s): 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49
Frequency: 1 3 7 10 15 12 6 2

Calculate:

The mean of these times [3 marks]
The standard deviation [3 marks]
The mode [2 marks]
The 5thdecilei.e D5 [2 marks]

A random variable is normally distributed with µ=50 and d=10 i.e X~µ(50,100)
Compute P(45=x=62). [4 marks]

(d) The following table shows the amount Ksh (“000”) of 40 cheques

Amount (Ksh) 118-126 127-35 136-144 145-153 154-162 163-171 172-180
Frequency 3 5 9 12 5 4 2

Using the above information, draw a histogram and frequency polygon on the same axes.
[6 marks]

If a bank receives an average of 6 bad cheques per day, what are the probabilities that they will be

4 bad cheques in any given day [2 marks]
10 bad cheques in any 2 consecutive days [2 marks]

QUESTION TWO (20 MARKS)

Outline the business application of linear regression analysis. [4 marks]

Twelve people of different ages (years) were given a memory test with the following
results:

Age 70 68 62 53 50 46 35 28 25 22 20 18
Test score 48 50 60 55 62 74 69 78 82 80 93 90

Fit a simple regression line of test score against age in years. [7 marks]
If a person aged 60 years, what is the expected test score? [2 marks]
Calculate the Spearman’s rank correlation. [5 marks]
Make a brief comment on the results. [2 marks]

QUESTION THREE (20 MARKS)

Explain the following methods of sampling:

Stratified random sampling
Simple random sampling
Systematic sampling [9 marks]

Outline the main aspects of a good Questionnaire. [9 marks]

Outline properties of a good measure of dispersion. [2 marks]

QUESTION FOUR (20 MARKS)

The following information relates to the expenditure by an average income family during the year 2004 & 2005.

2004 2004 2005 2005
Item Price (Sh) Quantity Price (Sh) Quantity
Milk (litres) 25 1000 27 1200
Maize flour (kg) 48 240 59 260
Rice (kg) 65 180 70 200
Sugar (kg) 52 60 65 50
Wheat flour (kg) 60 80 75 60

From the above information. Determine

The Laspeyre’s price index [3 marks]
The Paasche’s price index [3 marks]
The Fisher’s price index [2 marks]

Grand National hotel has been operating in Kenya for the past 15 years. The quarterly profits of the hotel during the last four years were as follows:

Profits Sh “million”
Quarter
Year 1 2 3 4
2005 33 36 35 38
2006 42 40 42 47
2007 54 53 54 62
2008 70 67 70 77

Required:

Centred four-quarter moving Average [6 marks]

Average season index for each quarter using the multiplicative model. [6 marks]

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Bcom 271: Business Statistics I Question Paper

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