:Anawer the Following practical problems

Problem 1
A retail automotive parts sale reported the following prices and
quantities of sales for the year 2004 and 2008.
Part

Prices

Quantities

Number

2004

2008

2004

2008

RC13033

15.22

23.10

320

340

SM1245

7.35

10.40

430

360

ABS001

40.50

45.10

875

530

1-

Compute the simple price index for each of the three

parts, use 2004as base year.

2-

Compute the simphe aggergate price index, use 2004 as

base year.
2004) )
3-

Determine Fisher's ideal index.

4-

Determine the value index.

Soluion()
001

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= :

X 100 = 1.41

10.40
7.35

=2- sm

X 100 = 151.77

X 100 = 1.11

= :

23.10
15.22

= 1- rc

45.10
40.50

= 3- ab

001

1.54+4.01+01.32
5.04+53.7+22.51

6.421 = 001 X

:
the laspeyres price= x001

) (
) (

1-

5.04( 035
53.7
)+( 063
22.51
)+( 043

)
%76 = 001 X
023
)+(22.51

= 5.04( 578 53.7

)+( 034

) (
) (

the passches price= x001

1.32
)+( 043

)
043
= 001) X
%121

2-

1.54( 035
4.01
)+( 063

)+( 063
22.51
()+
= 5.04( 035 53.7

ecirp sehcssap x ecirp seryepsaL

%121 x %76

==9 .

= ) (
1.54( 035
4.01
)+( 063
1.32
( ()+
043

) )

x001

5.04( 578
53.7
)+( 034

023
)+(22.51
= 001) X
%18

Problem 2
The following table gives the values of the variable Y fof the
years 1997 to 2007.
07

06

05

04

03

02

01

00

99

98

71

59

62

51

63

52

58

53

56

46

Find the linear trend equation.

Year 97
43

A-

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B-

Using the additive model find the values of cyclical-

irregular components.
C-

Using the multiplicative model find the cyclical- irregular

relatives.
Solution:

...
Problem 3
A candy- bar company reported that the calories of edch 2- ounce
Candy bar are 450 calories . Over 10 days, the production
department withdrew a sample of size 5 baes, and they wrere sent
for analysis to find out the calories in each. Results are given in
the following table:
Calorie Count
Sample

426

406

450

510

450

510

440

450

493

512

434

450

452

459

461

443

438

461

451

462

452

461

471

450

453

459

452

459

453

461

453

452

461

431

449

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452

446

448

439

453

453

455

456

447

446

10

451

456

452

461

459

Use excel and draw the appropriate control chart, and comment
on findings.

Higher lnstitute for Managerial Science

Second year.
Student Name:..
Exam Seating Number:

Sele cted Topics in Statistics and

Insurance
Firt Semester's Effort(2)
Submitted to:
Professor Dr. Sohair F. Higazi
2011-2012
Problem1

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01001580015

You are a manager of fast food restauraurant, you would like to

prepare a new kind of salads in advance. These salads must be
prepared and served the same day. The following is the payoff
(profit) table, for demand and the number of salads prepared.
Salads Prepare
Demand

3.6

2.85

2.10

1.35

3.6

4.8

4.05

3.30

3.6

4.8

6.00

5.25

3.6

4.8

6.00

7.20

Go Over payoff table; explain its elements, what and the states
of natuer? (Demand), what are the actions or altematves?(No. salads
prepared).
Which action do you choose, when applying: Maximax,
Maximin and Minimax?.

Problem2
You are a manager of fast food restauraurant, you would like to
prepare a new kind of salads in advance. These salads must be
prepared and served the same day. The following is the payoff
(profit) table, for demand and the number of salads prepared.

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Salads Prepare
Demand

3.6

2.85

2.10

1.35

3.6

4.8

4.05

3.30

3.6

4.8

6.00

5.25

3.6

4.8

6.00

7.20

Given that:
P(sellng 3 salads) =0.1

P(Selling 4 salads) =0.3.

P(selling 5 salads) =0.4

P(Selling 6 salads) =0.2.

1-

Using the expected value crterion, how many Salads

Should be prepared?.
2-

Use the maximum likelihood criterion, how many salads

be prepared?.

Higher lnstitute for Managerial Science

Second year.
Student Name:..
Exam Seating Number:

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01001580015

Sele cted Topics in Statistics and

Insurance
Firt Semester's Effort(3)
Submitted to:
Professor Dr. Sohair F. Higazi
2011-2012
Answer the following prolems
Problem 1
In example 1 (Iage 136), change the coverage to be:
Deductible: 1000 EGP.

Coinsuronce (70/30 : (( you pay the

20%).

You pay (out of the pocket) MaxL 6.000 Pounds Redo the

example, using same cost, and find out what total out of
pocket of has been paid?.
................................................................................................................
................................................................................................................
....................................................................................................
Problem 2

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A man wants to pay a single payment to cover an ordinary

insurance policy worth 50.000 pounds, how much shold he pay now,
if the insurance company charges a simple interest rate 6% Which
interest method is better for the insurer? For the insured?.`

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