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AC BS FEP Front Page Jun 2013

This document contains instructions and questions for a business statistics final exam. It includes 6 questions with multiple parts testing various statistical concepts. Students are instructed to attempt any 5 questions from descriptive statistics, probability, probability distributions, regression, and price indices. They are not allowed to write on the question paper and must remove batteries from electronic devices during the exam.

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32 views2 pages

AC BS FEP Front Page Jun 2013

This document contains instructions and questions for a business statistics final exam. It includes 6 questions with multiple parts testing various statistical concepts. Students are instructed to attempt any 5 questions from descriptive statistics, probability, probability distributions, regression, and price indices. They are not allowed to write on the question paper and must remove batteries from electronic devices during the exam.

Uploaded by

alizayamir69
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Page 20 of 48

KARACHI UNIVERSITY BUSINESS SCHOOL


UNIVERSITY OF KARACHI
FINAL EXAMINATION JUNE 2013: AFFILIATED COLLEGES
BUSINESS STATISTICS BA (H)–451
BS – III
Date: June 20, 2013 Max Marks: 60
Max Time: 3 Hrs

INSTRUCTIONS:
1. Attempt any 5 questions. Do not write anything on the question paper.
2. Use of mobile phones or any other communicating device will not be allowed
in the examination room. Students will have to remove the batteries of these
devices before entering the examination hall.

Q.1(a) Differentiate between: (i) Descriptive and Inferential Statistics. (4)


(ii) Primary and Secondary methods of data collection.

(b) Following are the lengths (in inches) of 30 nails produced by a rolling mill: (8)

4.0 3.9 3.8 4.0 4.0 3.9 3.9 3.8 4.2 4.1
3.7 4.1 4.6 4.2 4.1 4.2 3.9 3.9 3.9 3.8
3.7 4.3 3.8 4.2 4.0 3.8 4.0 4.1 4.0 4.2

(i) Prepare a frequency distribution taking five equal classes.


(ii) Compute Mean for the raw data and for the prepared frequency distribution
and compare the two results.

Q.2(a) For the following frequency distribution: (6)


Class 401–420 421–440 441–460 461–480 481–500
Frequency 5 12 17 10 6

Compute (i) mean (ii) median and (iii) mode.

(b) The daily sales in a hardware store are as follows: (6)


Rs. 136, 265, 484, 2837, 195, 176 and 572.
(i) Calculate mean and median for these sales data.
(ii) Which one gives a meaningful measure of average and why?

Q.3(a) For the frequency distribution given below: (6)

Class 5–7 8 – 10 11 – 13 14 – 16 481–500


Frequency 5 12 17 10 6

Calculate (i) Coefficient of variation (ii) Coefficient of mean deviation.

(b) Two sales representatives have the following annual sales for the last five years. (6)
Representative A: 74, 80, 72, 65, 78.
Representative B: 82, 76, 69, 70, 84.
On the basis of coefficient of variation which representative is more consistent?

Q.4(a) Define Classical and Empirical approaches of probability. (4)


(b) Two balanced dice are rolled. What is the probability that: (4)
(i) the sum of dots is at most 8.
(ii) the product of dots is at least 12.

01/02
Page 21 of 48

(c) The time in minutes which 15 bank account holders spent in a bank branch to
get their cheques cashed, are recorded below:
8.6, 5.8, 6.7, 5.2, 6.2, 5.5, 7.5, 5.1, 5.3, 9.9, 5.9, 13.6, 15.2,10.7, 5.2.
What is the probability that a randomly selected account holder will get his
cheque cashed within seven minutes? (4)

Q.5(a) A and B are two independent events and P(A) = 0.3, P(B) = 0.6,
Compute P(A ∩ B) and P(A U B). (4)

(b) Find k such that P(x) = k . x2forx = 1, 2, 3 is a probability distribution. (4)


Find (i) E(x) and (ii) V(x).

(c) A random committee of size 3 is selected from 4 men and 2 women.


What is the probability that both women will be selected? (4)

Q.6(a) It is known that 8% of the production of a manufacturer is defective. A random (4)


sample of 10 items is selected. Number of defective items in the sample is the
binomial random variable X.
Find (i) P(X) (ii) E(X) (iii) V(X)

(b) The mean and standard deviation of a binomial random variable are 1.8 and 1.2
respectively. Find P(x ≥ 3) (4)

(c) In a steel industry the average number of fatal accidents per month is 0.5.
What is the probability that there will be no fatal accident in the next two month? (4)

Q.7(a) The data in the following table give the market – share of a product for (6)
a given advertising expenditure.
(i) Find a least squares line of regression to estimate market – share for a given
advertising expenditure.
(ii) Estimate market – share when advertising expenditure is Rs.300,000.

Month Market Shares (%) Advertising Expenditure


(Rs.0000)
January 15 23
March 17 25
May 13 21
July 14 24
September 16 26

(b) For the following data, construct Fisher’s price index for 2011 (6)

Product Price Quantity


2010 2011 2010 2011
A 60 71 24 33
B 41 49 18 21
C 12 20 31 34
D 6 13 26 11

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END OF PAPER

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