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Differentiate between a 'mistake' and an 'error' as used in business statistics.
(Solved)
Differentiate between a 'mistake' and an 'error' as used in business statistics.
Date posted:
May 20, 2021
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Answers (1)
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An entrepreneur bought a washing machine on hire purchase. The cash price of the machine was Sh 800,000. An initial deposit of 20% of the...
(Solved)
An entrepreneur bought a washing machine on hire purchase. The cash price of the machine was Sh 800,000. An initial deposit of 20% of the cash price was paid. A flat interest rate of 15% was charged on the outstanding balance for the period of repayment. The balance plus the interest were payable in 36 equal monthly installments. A customer who purchases the machine on cash basis receives a 10% discount on the cash price.
Required.
The amount of money saved if the machine is bought on cash basis.
Date posted:
May 20, 2021
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Answers (1)
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An American tourist visited your country with an amount of money valued at 20,380 sterling pounds and 4,100 US Dollars. The currency of your country...
(Solved)
An American tourist visited your country with an amount of money valued at 20,380 sterling pounds and 4,100 US Dollars. The currency of your country is the shilling (Sh). He exchanged all the foreign money into shillings. The tourist stayed in your country for two months spending Sh 40,000 per day. He bought gifts worth Sh 300,000 and an air ticket for Sh 100,000. Upon leaving the country, he exchanged the remaining cash into dollars.
The rates of exchange during his visit were as follows:
1 US Dollar = Sh 90
1 Sterling pound = Sh 135
Assume each month has 30 days.
Required.
i) Total amount the tourist received in shillings.
ii) The amount of money the tourist received at the end of his visit in US Dollars.
Date posted:
May 20, 2021
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Answers (1)
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William Mwahunga deposited Sh. 1,000,000 as an investment in a fixed deposit account for a period of 10 years. The amount attracted annual compound interest...
(Solved)
William Mwahunga deposited Sh. 1,000,000 as an investment in a fixed deposit account for a period of 10 years. The amount attracted annual compound interest at the rate of 15% for the first four years, 12% for for the next four years and 9% for the remaining 2 years.
Required.
The value of the investment at the end of 10 years.
Date posted:
May 20, 2021
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Answers (1)
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Briefly explain the following types of matrices.
i) Vector matrix.
ii) Null matrix.
iii) Diagonal Matrix.
(Solved)
Briefly explain the following types of matrices.
i) Vector matrix.
ii) Null matrix.
iii) Diagonal Matrix.
Date posted:
May 19, 2021
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Answers (1)
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Wakulima cereals board operates warehouses in three different locations Nairobi, Nakuru and Eldoret. The cereals stocked by Wakulima cereals board comprise maize, rice, wheat and...
(Solved)
Wakulima cereals board operates warehouses in three different locations Nairobi, Nakuru and Eldoret. The cereals stocked by Wakulima cereals board comprise maize, rice, wheat and beans. The table below shows the inventories of the cereals in the three warehouse locations as at 31 December 2009.
Required.
Using matrix algebra, determine the total estimated value of all the cereals stocked by Wakulima Cereals Board in the three warehouse locations as at 31st December 2009.
Date posted:
May 19, 2021
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Answers (1)
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Jawabu limited manufactures three products namely A, B & C. The company has three outlets X, Y & Z. The data below show the number...
(Solved)
Jawabu limited manufactures three products namely A, B & C. The company has three outlets X, Y & Z. The data below show the number of units of products A, B & C sold in outlets X, Y and Z for the months of September 2010 and October 2010.
Date posted:
May 19, 2021
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Answers (1)
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A green grocer has a stock of fruits comprising 900 boxes of oranges, 700 boxes of grapes and 400 boxes of pears.
The table below...
(Solved)
A green grocer has a stock of fruits comprising 900 boxes of oranges, 700 boxes of grapes and 400 boxes of pears.
The table below shows the market prices per box of the different types of fruits in four towns namely: Nairobi, Nakuru, Kisumu, Mombasa.
Required.
Using matrix algebra, advice the green grocer on the town in which the stock of fruits should be sold in order to realize the maximum gross sales revenue.
Date posted:
May 19, 2021
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Answers (1)
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A florist sells flowers in dozens and each dozen consists of two varieties: namely white roses and red roses.White Roses costs Sh. 75 each whereas...
(Solved)
A florist sells flowers in dozens and each dozen consists of two varieties: namely white roses and red roses.White Roses costs Sh. 75 each whereas Red Roses costs Sh. 150 each The selling prices of white roses and red roses are Sh 105 each and Sh 175 each respectively.
Required.
Given that the daily total cost per dozen of the roses is Sh 1,200 and assuming that all roses bought in a day are sold, use matrix algebra to determine:
i) The number of white roses and red roses that should be packed in each dozen.
ii) The daily profit earned from each dozen of flowers.
Date posted:
May 19, 2021
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Answers (1)
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Citing an example in each case, differentiate between a 'Vector matrix' and an 'Identity matrix'.
(Solved)
Citing an example in each case, differentiate between a 'Vector matrix' and an 'Identity matrix'.
Date posted:
May 19, 2021
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Answers (1)
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Outline four steps that are followed in determining the inverse of a 2 by 2 matrix.
(Solved)
Outline four steps that are followed in determining the inverse of a 2 by 2 matrix.
Date posted:
May 19, 2021
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Answers (1)
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Swere manufacturing ltd. produces two types of oil products: A & B. The following information relates to the two products.
(Solved)
Swere manufacturing ltd. produces two types of oil products: A & B. The following information relates to the two products.
Date posted:
May 19, 2021
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Answers (1)
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Giving an illustration in each case, differentiate between a 'square matrix' and a 'Unit matrix'
(Solved)
Giving an illustration in each case, differentiate between a 'square matrix' and a 'Unit matrix'
Date posted:
May 19, 2021
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Answers (1)
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Supernova ltd. deals in the manufacture of a product named 'Super'. The cost accountant of the company has estimated the following costs for the first...
(Solved)
Supernova ltd. deals in the manufacture of a product named 'Super'. The cost accountant of the company has estimated the following costs for the first quarter of the year 2010.
Date posted:
May 19, 2021
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Answers (1)
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A company produces 3 products X,Y & Z, which are processed through three departments namely P, Q & R. The table below shows the labour...
(Solved)
A company produces 3 products X,Y & Z, which are processed through three departments namely P, Q & R. The table below shows the labour hours required to produce one unit of each product in each of the departments.
Required
Using the Gaussian elimination method determine the optimal combination of the products that could be produced each month.
Date posted:
May 19, 2021
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Answers (1)
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XYZ limited intends to invest in a particular project whose maximum duration is 9 months. The estimated total profit of the project is given by...
(Solved)
XYZ limited intends to invest in a particular project whose maximum duration is 9 months. The estimated total profit of the project is given by the function.
Date posted:
May 19, 2021
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Answers (1)
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The cost accountant of Amazuri limited has provided the following statement of costs, profit and selling price per unit of a certain product.
(Solved)
The cost accountant of Amazuri limited has provided the following statement of costs, profit and selling price per unit of a certain product.
Date posted:
May 19, 2021
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Answers (1)
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Outline three uses of functions in business.
(Solved)
Outline three uses of functions in business.
Date posted:
May 19, 2021
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Answers (1)
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New Horizon Limited deals in production of a product named 'Wonder'. The table below shows the total revenue and the total cost of the company...
(Solved)
New Horizon Limited deals in production of a product named 'Wonder'. The table below shows the total revenue and the total cost of the company at different quantity levels of 'Wonder'.
Date posted:
May 19, 2021
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Answers (1)
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Emma Ayoo is considering investing Sh. 1,000,000 for a period of two years.The data below relates to interest rates of three investment opportunities available to...
(Solved)
Emma Ayoo is considering investing Sh. 1,000,000 for a period of two years.The data below relates to interest rates of three investment opportunities available to Emma Ayoo.
Date posted:
May 19, 2021
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Answers (1)