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Dms 105 Introduction To Business Statistics Question Paper

Dms 105 Introduction To Business Statistics

Course:Diploma In Business Management

Institution: Kca University question papers

Exam Year:2014

UNIVERSITY EXAMINATIONS: 2013/2014
STAGE IV ORDINARY EXAMINATION FOR THE DIPLOMA IN
BUSINESS MANAGEMENT
DMS 105 INTRODUCTION TO BUSINESS STATISTICS
DATE: APRIL 2014
TIME: 1 1/2 Hours
INSTRUCTION: Answer any THREE questions
QUESTION ONE: (20 MARKS)
a) Identify the following variables as either nominal, ordinal, interval or ration scale
i. The hair color of a group of villagers.
ii. The gender of a person.
iii. The continent of origin
iv. The time spent in a jam.
v. The distance between two planets
[5 Marks]
b) Give reasons why sampling may be preferred to complete enumeration. [4 Marks]
c) Differentiate a measure of kurtosis and a measure of skewness. [4 Marks]
d) Discuss the importance graphs in the presentation of data? [3 Marks]
e) Argue the case for and against the use of interview method as a data collection method.
[4 Marks]
QUESTION TWO: (20 MARKS)
a) List two merits and two demerits for each of the following measures of central tendency
i. mean [2 Marks]
ii. mode [2 Marks]
b) Alpha Ltd. manufacturers and sell spare parts for motor cycles. During the month of
February 2013, the company produced the following number of parts each day.
35 34 42 37 33 43 39 35 33 38
42 31 36 41 37 43 37 33 38 39
39 41 45 44 36 38 33 45 41 37
41 42 32 43 34 35 44 41 40 39
Required:
A grouped frequency table starting using classes 30.0 – 33.0, 33.0 – 36.0, 36.0
i.
– 39.0 etc. [5 Marks]
ii. Calculate the median production. [3 Marks]
iii. Calculate the coefficient of skewness of the production. [8 Marks]
QUESTION THREE: (20 MARKS)
a) Briefly explain the difference between the following terms
i. Mailed questionnaires and questionnaires by enumerators. [4 Marks]
ii. Primary and secondary data. [4 Marks]
iii. Telephone interview and direct interviews. [4 Marks]
b) State the advantages and disadvantages of simple random sampling
[4 Marks]
c) Briefly explain the steps you would take in selecting a stratified random sample.
[4 Marks]
QUESTION FOUR: (20 MARKS)
a) Briefly explain the importance Index numbers in business.
[4 Marks]
b) Define the following index numbers:
ii. Price index number. [2 Marks]
iii. Quantity index number. [2 Marks]
iv. Consumer price index. [2 Marks]
c) From the data below and using 2012 as base year, calculate:-
i. Laspeyre’s price index for 2013 [4 Marks]
ii. Paasche’s price index for 2013 [4 Marks]
iii. Fisher’s ideal price index for 2013. [2 Marks]
2012
2013
Item Price (sh.) Qty.(kg) Price (sh.) Qty.(kg)
Omega 10 50 15 63
Beta 20 25 17 37
Theta 25 10 20 15
QUESTION FIVE: (20 MARKS)
a) Briefly explain the difference between the following terms.
i. Primary and secondary data [4 Marks]
ii. Continuous and discrete data [4 Marks]
b) Find the harmonic mean of the following data
X 6 9 5 8 7 10 12
[4 Marks]
c) State the advantages and disadvantages of observation method as a data collection
method.
[4 Marks]
d) Explain the following terms as used in sampling
i. Judgmental sampling ii. systematic sampling [4 Marks]
e) Find the mean deviation of the following data: [4 Marks]
x 4 7 8 10 6 9
f 6 9 11 8 5 3

Dms 105 Introduction To Business Statistics Question Paper

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