SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME

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1 All Right Reserved No. of Pages - 10 No of Questios - 08 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER I (Group B) END SEMESTER EXAMINATION MARCH 015 QMT 1030 Busiess Statistics Date : 13th March 015 Time : 5.30 p.m p.m. Duratio : Three (03) Hours Istructios to Cadidates: Aswer oly FIVE (05) questios. The total marks for the paper is 100. All questios carry equal marks. Use of scietific calculator is allowed. Stadard Normal Table ad Formula Sheets are provided. Graph Papers are provided o request. Aswers should be writte eatly ad legibly.

2 Questio No. 01 I. The followig summery is prepared based o a Quality Check which categorizes all the items produced by three Productio Lies (P1, P ad P3) i a factory ito three grades (G1, G ad G3) durig a certai day. P1 P P3 Total G G G Total If a item is selected at radom what is the probability that a. It is grade G1. b. It was produced by Productio Lie P1 or is of Grade G. c. It was produced by Productio Lie P ad is of Grade G3. d. It is Grade G3 give that it was produced by Productio Lie P3. e. It was from Productio Lie P3, give that it is Grade G. II. Suppose you are to select the best project proposal for a cliet out of three project proposals you have receive as follows. Project Proposal A : A profit of Rs.,000 with a probability of 0.5 or else a loss of Rs Project Proposal B : A profit of Rs. 800 with a probability of 0.3 or else a profit of Rs Project Proposal C : A profit of Rs. 1,000 with a probability of 0.8 ad a profit of Rs. 500 with a probability of 0.1 or else a loss of Rs Select the best project with the reaso for your choice. III. A bag cotais four red ad five black couters. The couters are removed oe at a time without replacemet. If the couters are take out at radom fid the probability that: a. The first two couters removed are red b. The secod couter removed is red 1

3 Questio No. 0 I. A ubiased die, marked 1 to 6, is rolled twice. Fid the probability of : a. Rollig two fives b. The secod throw beig a five, give that the first throw is a five, c. Gettig a score of ie from two throws d. Throwig at least oe five e. Throwig exactly oe five II. Three people A, B, C tries their fortue for a price by rollig a tetrahedro with the faces umbered 1,, 3 ad 4 (a four sided fair die). The wier is the first perso to roll a four. If the tetrahedro is ubiased ad they roll the die i the order A, the B, the C, fid the probability that: a. A wis o the first throw b. C wis at his first attempt c. B wis at his secod attempt d. A losses three successive throws icludig the first throw. Questio No. 03 I. After aalyzig a lot of laptops it is observed that 15% of the laptops are ot i workig coditio, from this lot 7 laptops were radomly selected. Fid the probability that a. All defective b. No defective c. At least oe defective d. At most two defective e. Exactly three defective II. The average umber of road accidets per year i Colombo city is foud to follow a Poisso distributio with mea 150. Fid the probability that a. No accidets b. Oe accidet c. Fewer tha 150 accidets are reported i year

4 Questio No. 04 I. A washig machie maufacturer states that the washig machies they produce have a mea lifetime of 6000 hours with a stadard deviatio of 300 hours. I geeral, it ca be assumed that the lifetime of washig machies follows a Normal Distributio a. If a washig machie is selected at radom, what is the probability that it has a lifetime less tha 5000 hours? b. If a washig machie is selected at radom, what is the probability that it has a lifetime more tha 5500 hours? c. What percetage of the washig machies will last more tha 6500 hours? d. If the maufacturer wishes to replace 5% of the washig machies free of charge, what should be the warraty period prited o the back of the washig machie? II. A stock broker has computed the retur o stockholder s equity for all compaies listed o the Colombo Stock Exchage. He foud that the data is ormally distributed with mea 10% ad stadard deviatio of 5%. Further he is iterested i examiig those compaies whose retur o stockholder s equity is betwee 16 ad percet. Give that approximately 1300 compaies are listed o Colombo Stock Exchage, how may are of iterest to him? Questio No. 05 I. Aswer the followig; a. Write dow three differet types of measures of cetral tedecy ad defie each measure. b. The average raifall of a tow from Moday to Saturday is 0.4 ich. Due to heavy raifall o Suday to the tow, the average raifall for the week icreased to 0.5 ich. What was the raifall o Suday? c. Show that for the set of values 1,,3,4 ad 5 the iequality Arithmetic Mea. >= Geometric Mea >= Harmoic Mea holds ad Arithmetic Mea x Harmoic Mea = (Geometric Mea) holds 3

5 II. Fid the Mea, Media, Mode ad Stadard Deviatio of the followig grouped frequecy distributio. Class Iterval Frequecy (f) III. Followig statistics were obtaied for two Teams A ad Team B playig teis i a give year. Fid the more cosistet team i that year out of the two teams A ad B. Mea Stadard Deviatio Team A 15 5 Team B 0 4 Questio No. 06 I. I order to determie the effect of price o sales of a product, the compay s research departmet selected 10 sites havig essetially idetical sales potetial ad offered the product i each at a differet price. The resultig sales are recorded i the followig table: Sites A B C D E F G H I J Price (Rs.) Sales (000 s) a. Draw a scatter diagram after idetifyig the idepedet ad depedet variables b. Does it appear that a straight-lie model is reasoable? c. Fid the correlatio coefficiet of the variables give ad iterpret it. d. Derive the regressio lie to predict the sales i terms of price. 4

6 e. Iterpret the regressio model you developed i Part d. f. If the price is scheduled at Rs , what would be the expected sales? g. What is the validity of your forecast i Part f. Questio No. 07 I. Followig are the prices ad quatities of three commodities A, B ad C that a typical family has cosumed i the years 013 ad 014. Calculate the followig price idices for the year 014 by takig 013 as the base year a. Laspeyre s Idex b. Paasche s Idex c. Fisher s Idex Commodity Price Quatity Price Quatity A B C 5 4 II. Write short otes o three of the followig. a. Type I error b. Type II error c. Sigificace level d. Rejectio regio III. A maufacturer claimed that at least 95% of the equipmet that she supplied to a factory cofirmed to specificatios. A examiatio of a sample of 00 pieces of equipmet revealed that 18 were faulty. Test her claim at the sigificace level of a b

7 Questio No. 08 I. The followig table gives the quarterly sales figures of a compay over last three years. Year Quarter Sales 01 Q1 47 Q 46 Q3 57 Q Q1 50 Q 53 Q3 66 Q Q1 57 Q 56 Q3 65 Q4 51 a. Briefly explai the four compoets ad basic models available i time series. b. Usig a scatter diagram or by observatio suggest the best approach to fid the tred of sales. c. Usig the approach you metioed i part b fid the forecasted treds for the year 015. d. Assumig a multiplicative model fid the seasoal compoets. e. Adjust the seasoal compoets you foud i part d. f. Iterpret the seasoal compoets you foud i part e. g. Usig the forecasted treds ad the adjusted seasoal compoets fid the forecasted sales for each quarter of the year

8 FORMULA SHEET X = X X = fx f (X X ) SD = 1 MAD = 1 X X MAD C. V. = SD Mea 100 f(x X ) SD = f 1 = f X X f wx WAM = w xy x y r = [ x ( x) ] [ y ( y) ] Coefficiet of Determiatio = 100 r S xy r = S xx S yy xy x y b = [ x ( x) ] b = S xy S xx a = y x b R = 1 6 d ( 1) 7

9 Pr[A B] = Pr[A] + Pr[B] Pr[A B] Pr[A B] = Pr[A] Pr[B] Pr[A ] = 1 Pr[A] Pr[A B] = Pr[A B] Pr[B] Pr[X = x] = C x p x (1 p) x Pr[X = x] = e λ λ x x! E[X] = x Pr[X = x] Z = x μ 0 σ T = x μ 0 s Z = (x 1 x ) d 0 σ 1 + σ 1 T = (x 1 x ) d 0 s 1 + s 1 I L = P 1Q 0 P 0 Q I P = P 1Q 1 P 0 Q I F = I L I P 8

10 Z = X μ 0 ( σ ) T = X μ 0 ( s ) Z = (X 1 X ) μ d (X 1 X ) μ d T = σ 1 + σ s 1 + s 1 1 T = (X 1 X ) μ d S p S P = ( 1 1)S 1 + ( 1)S Z = p p 0 X ± Zα p 0q 0 { σ } X s ± t α, 1 { } p ± Zα p q Media (Me) = L + N f c X I f Mode (Mo) = L + C r =! ( r)! r! f 1 f 0 f 1 f 0 f X I! = X( 1)X( ) 3XX1 9

11 The Stadard Normal Distributio Table

AY Term 2 Mock Examination

AY Term 2 Mock Examination AY 206-7 Term 2 Mock Examiatio Date / Start Time Course Group Istructor 24 March 207 / 2 PM to 3:00 PM QF302 Ivestmet ad Fiacial Data Aalysis G Christopher Tig INSTRUCTIONS TO STUDENTS. This mock examiatio