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BCOMSCM - Business Statistics 102 - Assignment - BCOMSC - BS101

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Jotham Shumba
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203 views3 pages

BCOMSCM - Business Statistics 102 - Assignment - BCOMSC - BS101

assignment

Uploaded by

Jotham Shumba
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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PROGRAMME: BACHELOR OF COMMERCE IN SUPPLY CHAIN MANAGEMENT YEAR 1

MODULE: BUSINESS STATISTICS 102


TOTAL MARKS: 25

QUESTION ONE [12]


The following data represents the number of tests conducted in a day by employees at Sharp Labs

Number of tests Frequency


[50: 60) 12
[60: 70) 20
[70: 80) 9
[80: 90) 6
[90: 100) 3

1.1 Calculate the average number of tests conducted by employees in the Labs (2)
1.2 Calculate the median (2)
1.3 Calculate the mode (2)
1.4 From 1.1, 1.2 and 1.3 above what will be your comment in relation to skewness? (1)
1.5 Calculate standard deviation (3)
1.6 Draw a histogram (2)

QUESTION TWO [8]

Part of a study to determine factors influencing family medical expenses involves finding a
relationship between the number of people in a family (X) and the average monthly medical
expenditure (Y). The data for a pilot sample of 10 families was summarised below:
Number of Average monthly
people in family (X) medical expenditure (Y)
3 850
2 750
3 800
5 1250
4 950
5 1000
6 1300
8 1650
2 690
7 1350

2.1 Assuming the relationship is linear find the least squares regression line for the data above.
(4)
2.2 Calculate the Pearson correlation coefficient for the data above (2)
2.3 Interpret the value of the correlation coefficient calculated above. (1)
2.4 Estimate the medical expense of a family with 5 members. (1)

QUESTION THREE [5]

The following table provides the prices (in Rand) and quantities (in kilograms) of brands of tea
purchased weekly during the years 2018 and 2019.

2021 2022
Price Quantity Price Quantity
Rooibos tea 12.00 30 15.00 25
Ceylon tea 5.60 7 4.99 8
Green tea 7.50 20 8.20 18
Total 25.10 57 28.19 51

3.1 Using 2021 as a base year, calculate and interpret the simple price index for Rooibos tea. (1)
3.2 Using 2021 as a base year, calculate and interpret the simple quantity index for Green tea. (1)
3.3 Using 2021 as a base year, calculate and interpret the Laspeyres Price Index. (3)

1
END OF QUESTION PAPER

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