QTM Mock Paper - solutions

QTM Mock Paper - solutions - 2013/2014 Specimen Paper for...

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1 2013/2014 Specimen Paper for the GLMBA Quantitative Methods for Business and Management Module Author: Dr. Xin Shi Instructions to Candidates SECTION A o Answer ALL questions on the Multi-Choice Answer Sheet attached at the end of this examination paper. o Please detach this sheet from the examination paper and when completed include it in your answer booklet. o Q1- Q4 are paper based questions, Q5 Q11 are Excel based questions. SECTION B o Answer THREE questions in the answer book provided o Q12 Q13, Q16 are paper based and will be answered in the answer books provided. o Q14 Q15 are Excel based and your answer file is to be uploaded to exam folder. This is a restricted open book exam. You are allowed to bring a single sheet of prepared A4 paper containing your own handwritten notes to be submitted with your answer booklet. Nothing may be removed from the examination room. Scientific calculators may be used. Computer needed for the curtain questions. Materials Provided: Normal Table; Financial Tables; Examination answer booklet
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2 SECTION A Answer ALL questions Input your answers into the Moodle Quiz Q1. If 3x = 4(x 3), what does x equal? (2 marks) A ) -12 B) 12 C) 3 D) -3 Solution: 3x = 4(x-3), times out the bracket, 3x = 4x 12, take 4x from both sides, -x = -12, times both sides by -1, x = 12. Q2 If -2x + 4 < 4x + 22, which of the following statements is correct? (2 marks) A) x = - 3 B) x > - 3 C) x < -5.5 D) x < - 3 Solution: -2x + 4 < 4x + 22, take 4x from both sides, -6x + 4 < 22, take 4 from both sides, -6x < 18, divide both sides by -6 and so reverse the inequality sign. x > - 3 Q3 If V = P(1+r) n , and P = £1,200, r = 5% and n = 6, What does V equal (to the nearest £)? (2 marks) A) £1,606 B) £1,608 C) £406 D) £408 Solution: V = 1200 x (1.05) 6 = 1200 x 1.34 = £1,608 Q4 If V = P(1+r) n , and V = £10,600, r = 3.5% and n = 4, What does P equal (to the nearest £)? (2 marks) A) £12,164 B) £1,564 C) £9,327 D) £8,696 Solution: If V = P(1+r) n , P = V/(1+r) n Therefore P = 10600/(1.035) 4 = 10600/1.1475 = 9327.29
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3 Questions 5 to 8 relate to data in Excel showing the percentage attendance of 600 MBA students in Term One and the distance they live from the SHU in miles. Q5 What is median percentage attendance for this student sample? (2 marks) A) 52% B) 82% C) 50% D) 53% Solution: See Excel Q6 What is the 75 th Percentile for distance from business school? (3 marks) A) 4 miles B) 11 miles C) 8 miles D) 15 miles Solution: See Excel Q7 What is the correlation between percentage attendance and distance lived from business school? (3 marks) A) 0.12 B) 0.19 C) -0.19 D) -0.12 Solution: See Excel Q8 How would you describe the correlation that you obtained in Q7? (2 marks) A) Moderate negative correlation B) Strong negative correlation C) Weak positive correlation D) No correlation Solution: Any correlation coefficient which is greater than -0.3 and less than 0.3 indicates there is no real correlation between the two variables. Questions 9, 10 and 11 relate to data in Excel showing the quarterly sales of 40 inch televisions at Selfridge in the Trafford Centre along with the average price of televisions. Using Excel to produce a regression equation of television sales with price as the explanatory variable: Q9 What is the intercept of the resulting model? (3 marks) A) 114.5 B) 423.4 C) -0.19
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