Quantitative Analysis for Bussiness
BACHELOR OF COMMERCE (HONOURS) DEGREE
QUANTITATIVE ANALYSIS FOR BUSINESS II April/May 2001 Final Examination Instructions to Candidates
1. 2. 3. 4. 5. Answer all questions in Section A Choose and answer three (3) out of five (5) questions in Section B. Answer both questions in Section C Graph Paper will be provided You may use a Non-Programmable Scientific Calculator
CIN 1207 Duration: 3 Hours
SECTION A ANSWER ALL QUESTIONS Question 1 (a) Assume that the sales made by a used car salesman occur like events in a Poisson process with λ = 1 per week. What is the probability he makes exactly 3 sales in a two-week period?
[4 Marks]
(b)
Given a box with 2 25-watt, 3 4-watt and 4 100-watt bulbs, in how many ways could 3 bulbs be selected from the box?
[2 Marks]
(c)
Suppose your doctor recommends that you go on a particular diet for 2 weeks. Considering your build and bone structure, he assumes that the amount of weight You will lose is equally likely to lie between 5 and 10kgs. What is the average amount you might expect to lose on such a diet, given that X is the number of kgs you will lose and
⎧ f x ( x) = 1 5 ⎨ =0 ⎩
5 < x < 10 otherwise
[5 Marks]
(d)
A student takes a multiple-choice exam which contains 8 questions, each with 3 alternative answers. Assume that he is guessing when answering each question. Then the probability that he answers a question correctly is question. What is the probability that he misses them all?
1 3
for each
[5 Marks]
(e)
In a Q.A.B. Exam a sample of 30 marks yields a mean mark of 60 and a Standard Deviation of 15. Give a 95% Confidence Interval Estimate of the population mean, µ .
[5 Marks]
Edited by Foxit Reader Copyright(C) by Foxit Corporation,2005-2009 For Evaluation Only.
(f) Graduate: (i) (g)
8 p2
(ii)
10
C3
[4 Marks]
A manufacturing representative is considering the option of taking out an insurance policy to cover possible losses incurred in marketing a new product. If the product is a complete failure, the
QUANTITATIVE ANALYSIS FOR BUSINESS II April/May 2001 Final Examination Instructions to Candidates
1. 2. 3. 4. 5. Answer all questions in Section A Choose and answer three (3) out of five (5) questions in Section B. Answer both questions in Section C Graph Paper will be provided You may use a Non-Programmable Scientific Calculator
CIN 1207 Duration: 3 Hours
SECTION A ANSWER ALL QUESTIONS Question 1 (a) Assume that the sales made by a used car salesman occur like events in a Poisson process with λ = 1 per week. What is the probability he makes exactly 3 sales in a two-week period?
[4 Marks]
(b)
Given a box with 2 25-watt, 3 4-watt and 4 100-watt bulbs, in how many ways could 3 bulbs be selected from the box?
[2 Marks]
(c)
Suppose your doctor recommends that you go on a particular diet for 2 weeks. Considering your build and bone structure, he assumes that the amount of weight You will lose is equally likely to lie between 5 and 10kgs. What is the average amount you might expect to lose on such a diet, given that X is the number of kgs you will lose and
⎧ f x ( x) = 1 5 ⎨ =0 ⎩
5 < x < 10 otherwise
[5 Marks]
(d)
A student takes a multiple-choice exam which contains 8 questions, each with 3 alternative answers. Assume that he is guessing when answering each question. Then the probability that he answers a question correctly is question. What is the probability that he misses them all?
1 3
for each
[5 Marks]
(e)
In a Q.A.B. Exam a sample of 30 marks yields a mean mark of 60 and a Standard Deviation of 15. Give a 95% Confidence Interval Estimate of the population mean, µ .
[5 Marks]
Edited by Foxit Reader Copyright(C) by Foxit Corporation,2005-2009 For Evaluation Only.
(f) Graduate: (i) (g)
8 p2
(ii)
10
C3
[4 Marks]
A manufacturing representative is considering the option of taking out an insurance policy to cover possible losses incurred in marketing a new product. If the product is a complete failure, the