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BUSINESS MATHEMATICS
STA 117
Term 1, 2012
12 May 2012
Time allowed: THREE HOURS
Total Number of pages: 13 Pages including the cover sheet
General Instructions: 1) This paper has TWO SECTIONS: Section A, and
Section B
2) SECTION A: Answer ALL questions
3) SECTION B: Answer ALL questions
4) Electronic, non-programmable calculators
maybe used.
5) Read the question carefully before answering.
6) Clearly write the question numbers and number
of sub-parts of the questions attempted.
7) Your hand writing should be clear and legible.
8) Answers without working may gain no credit.
9) This paper carries 100 Marks.
SECTION A
THE EXAMINATION PAPER MUST BE COLLECTED IN WITH THE ANSWER SCRIPT
Final Exam: STA 117 2012/S1
Page | 2
Answer all questions
1. According to the Empirical Rule for normal distributions, approximately what percentage of the data must
fall within 2 standard deviations of the mean?
(A) 50%
(B) 68%
(C) 95%
(D) 99.7%
2. The number of tourists visiting the Maldives varies depending on the quarter of the year. This variation is
fairly predictable. That is, resort owners are aware of when to expect the highest or the lowest numbers of
tourists during the year. This is an example of:
(A) Seasonal variation
(B) Cyclical variation
(C) Secular trend
(D) Irregular variation
3. A qualitative variable that gives rise to exactly two possible outcomes is an example of:
(A) An ordinal variable
(B) A nominal variable
(C) A binary variable
(D) A quantitative variable
4. Which of the following techniques yields a simple random sample?
(A) Choosing volunteers from a business mathematics class.
(B) Grouping individuals by gender and choosing a proportion from each group.
(C) Numbering all the elements of a sampling frame and then using a random number table to pick cases
from the table.
(D) Randomly selecting schools, and then sampling everyone within the school.
5. Geometric mean of a set of values is given by
Paasches Index:
Z-score:
OR
a=
Laspeyres Index:
Paasches Index:
100 /
100
1
100
1
0
r
x
r
x
t
r
A S
t
|
.
|
\
|
+
+ + =
|
|
|
.
|
\
|
o
n
p
p
= relative Price
k
p
p
k
o
n
|
|
.
|
\
|
=
=
100
indexes price simple the of sum
prices relative of Average
Final Exam: STA 117 2012/S1
Page | 12
Final Exam: STA 117 2012/S1
Page | 13