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Outline the importance of confirmatory analysis in quantitative data analysis.
Date posted:
March 1, 2019
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Discuss the steps followed when carrying out quantitative data analysis.
Date posted:
March 1, 2019
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A project has 11 activities with the activities preceding constraints, time estimates and work team requirements as shown
Required:
i) Prepare a network and indicate critical path.
ii) Prepare a time chart and work team requirement.
iii) Can the work team resource be levelled further? Why?
Date posted:
February 20, 2019
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In a linear programming problem the objective function and constraints were determined to be as follows
Required:
i) By simplex method find the final table.
ii) Give the optimal solution and the value of the corresponding objective function
iii) For the variable x2, give an interval for their objective function coefficient such that the present basic solution remains optimal
Date posted:
February 20, 2019
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Differentiate linear programming from assignment and transportation problems
Date posted:
February 20, 2019
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What is sensitivity analysis on the objective function coefficients? Differentiate this with sensitivity analysis on the right hand side (RHS) constants
Date posted:
February 20, 2019
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A land resale firm, Shamba Nyingi Limited, sells land around the environs of Nairobi. The size and price data for a given year are as shown.
Required:
i) Determine the linear-regression equation of price on size.
ii) Describe the relationship between size and price.
iii) What do the equation coefficients represent?
iv) What is the estimated standard error of the regression equation?
v) Determine the prize when the size of land is 2,150 square meters.
Date posted:
February 20, 2019
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What is the estimated standard error of a regression equation?
Date posted:
February 20, 2019
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A performance test was done before and after training on 12 persons appointed in clerical positions in a cement factory warehouse in Athi River. Marks were awarded on a 10-point scale as follows
Did the training improve performance?
Date posted:
February 20, 2019
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A major bank BKR Ltd calculates the credit ratings of its credit card customers on a monthly basis. The ratings are poor, good and excellent depending on the payment history. The following matrix shows how the customers change from one category to the other in one month.
Required:
i) Interpret the elements 0.84, 0.2, 0.18 and 0.16. (4 marks)
ii) Given that in August 2003, from customer base of 100,000 the accountswere classified as
Poor 30,000
Good 50,000
Excellent 20,000
What is expected in October?
Date posted:
February 20, 2019
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A Markov process describes the movement among the different states of a system as a function of time. Give the various steps in using a Markov process for determining a state at (t + 2) and steady state two periods after given state.
Date posted:
February 20, 2019
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The total cost function and demand function of Migoya Construction company (MCC) are as follows:
Required:
i) Write down the expression of average cost per unit and graph it for x values between x=0 and x=8.
ii) Write the expression for total revenue.
iii) If total revenue is to be maximized, what is the price to be charged?
v) What is the price that maximizes profit?
Date posted:
February 20, 2019
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How does differential calculus assist managers in their optimization problems when faced with single variables?
Date posted:
February 20, 2019
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MMK Ltd. plans to conduct a survey. The following table shows the tasks involved, the immediately preceding tasks and for each activity duration the most likely estimate (L), the optimistic estimate (O) and the pessimistic estimate (P).
Required:
a) Compute the mean duration and standard deviation for each task
b) The project is budgeted to cost Sh.500,000. Actual costs per day are Sh.10,000. By first identifying the critical path from drawing a network diagram can the project be implemented within the budget.
c) What is the probability of finishing the project 4 days earlier than the expected duration?
Date posted:
February 20, 2019
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Sikoka health club specializes in provision of sports/exercise and medical/dietary advice to clients. The service is provided on residential basis and clients reside for whatever number of days that suit their needs. Budget estimates for the year ending 30 June 2003 is as follows:
Required:
i) Summary of budgeted contribution to be earned by Sikoka Health Club for the year ended 30 June 2003 for each of the nine possible outcomes.
ii) State the client fee strategy that will result from the use of the maximax, maximin and minimax regret decision criteria.
Date posted:
February 20, 2019
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What is Laplace criterion? How does it differ from Hurwicz criterion?
Date posted:
February 20, 2019
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A fruit/juice kiosk along Lusaka road, VegFresh kiosk has come up with the following formulae of making natural juice for its industrial area customers
- 5 litres lemonade: 2 dozen lemon, 2 kg of sugar, 2 ounces of citric acid and water
- 5 litres grapefruit: 11/2 kg grape fruit, 11/2 kg of sugar, 1 ounces of citric acid and water
- 5 litres orangeade: 11/2 dozen of oranges, 11/2 kg of sugar, 1 ounces of citric acid and water
The selling prices of the fruit juices per every 5 litre are:
Lemonade: Sh. 37.50
Grapefruit: Sh. 40.00
Orangeade: Sh. 42.50
During the cold weather season (May 2002) VegFresh kiosk had in stock 2,500 dozen lemons,2,000 kg grape fruit, 750 dozen oranges, 5,000 kg of sugar and 3,000 ounces of citric acid
Required:
i) Formulate the linear programming problem
ii) Formulate the dual of this primal
Date posted:
February 20, 2019
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Given the following data of production of vehicles by a local car assembly KMA Ltd. Determine the deseasonalised data and using the forecasting relationship forecast the production in May 2003.
Date posted:
February 20, 2019
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What are the steps in time-series decomposition?
Date posted:
February 20, 2019
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Forecasting is the attempt to predict the future by using qualitative or quantitative means. Discuss the qualitative and QUANTITATIVE ANALYSIS available for managers in predicting the future.
Date posted:
February 20, 2019
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i)Explain the meaning of a random variable
ii) Zebro Match Manufacturers finds that 5% of the matches in a box are defective. Determine the probability that out of a box containing 50 match sticks:
a) None will be defective
b) If the guarantee is not more than 4 will be defective, what is the probability that the box wil meet guarantee quality?
Date posted:
February 20, 2019
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What is a Venn diagram? How can it be used to determine probability of a given event?
Date posted:
February 20, 2019
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Write short notes on the following:
i) Price relatives.
ii) Fixed base method.
iii) Chain base method.
iv) Weighted index number.
v) Quantity index number.
Date posted:
February 20, 2019
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Kiko Manufacturing Ltd. wants to take a decision of introducing a new soap Kikope. The cost for introducing Kikope (Initial advertising, promotion and fixed cost for one year of production) is estimated at Ksh.30,000. The variable cost per bar of soap is Ksh.30 and the expected selling price is Ksh.50.
Required:
Draw the cost, revenue and profit functions and from it:
i) Determine the break-even level of production.
ii) Determine the profit on the sale of 2,500 soap bars.
Date posted:
February 20, 2019
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Peter and Ngomongo are second hand dealers of electronic equipment and shoes along Baricho road. Due to hard economic times and restriction by City Council, sales have been decreasing. Each of them came up with strategies to expand into the other business (they have monopoly now). Each of them knows what the other is considering thus influences each others decision. Peter had the following matrix of profit per day.
Required:
i) Interpret the matrix.
ii) Solve the game to determine the average winning (loss) each cousin would have
Date posted:
February 20, 2019
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What are the underlying assumptions in linear programming?
Date posted:
February 20, 2019
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The following data relates business turnover and staff of fast moving consumer goods company EAI Ltd:
Required:
i) Fit an appropriate regression equation.
ii) Estimate the staff requirement when business turnover reaches Sh.200 Million
Date posted:
February 20, 2019
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A survey by Marketing Society here in Kenya found out the following buying habits of household air conditioners considered a luxury.
Required:
i)Calculate the arithmetic mean, median and mode. (5 marks)
ii) Does the survey show that the luxury item is consumed by high-income earners? Show your answer by calculating appropriate measure of skewness
Date posted:
February 20, 2019
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Lillian Wambugu is the project manager of Jokete Construction Company. The company is bidding a contract to install telephone lines in a small town. It has identified the following activities along with their predecessor restrictions, expected times and worker requirements:
Lillian Wambugu has agreed with the client that the project should be completed in the shortest duration.
Required:
i) Draw a network for the project.
ii) Determine the critical path and the shortest project duration.
iii) Lillian Wambugu will assign a fixed number of workers to the project for its entire duration and so she would like to ensure that the minimum number of workers is assigned and that the project will be completed in 14 weeks. Draw a schedule showing how the project will be completed in 14 weeks
iv) Comment on the schedule you have drawn in (iii) above.
Date posted:
February 20, 2019
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A small construction project involves the following activities:
Required:
i) Determine the shortest time and associated cost to finish this project.
ii) If a penalty of Sh.4,500 must be charged for every day beyond 12 days, what is the most economical time for completing the project?
Date posted:
February 20, 2019