QMBus Final s207

# QMBus Final s207 - AUSTRALIAN SCHOOL OF BUSINESS COMM5005...

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AUSTRALIAN SCHOOL OF BUSINESS COMM5005 QUANTITATIVE METHODS FOR BUSINESS FINAL EXAMINATION NOVEMBER, 2007 Time allowed: 3 hours Part A consists of 20 multiple choice questions. Each question is worth 1 mark. No marks will be deducted for incorrect answers. Part B consists of a total of 5 problems. Part B is worth a total of 40 marks. Total marks: 60 Instructions to students: Complete the details required on the front page of the examination book. Make sure that you show which questions you have attempted in the box at the top right of the book. ANSWERS MUST BE WRITTEN IN INK. EXCEPT WHERE THEY ARE EXPRESSLY REQUIRED, PENCILS MAY BE USED ONLY FOR DRAWING, SKETCHING, OR GRAPHICAL WORK." You may use a calculator. The calculator must not be a programmable one or a hand- held computer and any memory should be cleared. Graph paper will be provided. As far as possible, you should calculate answers without rounding the values obtained in intermediate steps. Textbooks, lecture notes and other course materials may be used. Underlining and hand written notes are permitted. This paper may be retained by the candidate.

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Part A Use the sample data in the following table to answers questions 1 – 4 X 16 17.5 18.9 14.2 16.8 12.7 9.2 18.6 Y 24.8 69.5 72.1 30.6 65.8 14.9 8.4 56.3 1. The median values of X and Y are respectively (a) 15.5 and 48.2 (b) 15.4875 and 42.8 (c) 16.4 and 43.45 (d) 16.2 and 42.7 (e) 15.85 and 44.7 2. The correlation coefficient between X and Y is (a) 0.7698 (b) 0.8234 (c) 0.9216 (d) 0.8774 (e) 0.8539 3. The slope of the least squares regression line which has X as an independent variable and Y as dependent variable is (a) -64.0235 (b) -1.9068 (c) 8.5248 (d) 4.3926 (e) 6.8974 4. The expected value of 2 X is equal to (a) 1918.9010 (b) 249.4038 (c) 629.4021 (d) 239.8627 (e) none of the above 5. A is the event that the price of Share 1 rises and B is the event that the price of Share 2 rises. Given that P(A) = 0.65 and P(B) = 0.35 and P(B|A) = 0.42 what is P(A|B)? (a) 0.78 (b) 0.8571 (c) 0.273 (d) 0. (e) unable to be calculated 2
6. A sample of 9 observations is taken from a normal population. The sample is found to have a mean of 20 and a standard deviation of 4. The 95% confidence interval for μ based on this sample is (a) (16.984, 23.016) (b) (17.387, 22.613) (c) (17.520, 22.480) (d) (16.925, 23.075) (e) (16.219, 22.817) 7. You are testing the null hypothesis 0 : 500 H = against the alternative 1 :5 0 H 0 < using a significance level of 1%. If the test statistic is found to be t = -2.4 and the sample size is 10 the critical value of t will be (a) -3.169 (b) -2.764 (c) -3.250 (d) -2.821 (e) none of the above 8. If the values of transactions in a store, X , are distributed ( ) 71.3,5.76 XN then the probability that a transaction taken at random from this population will be less than \$70 is (a) 0.0910 (b) 0.2946 (c) 0.4090 (d) 0.2054 (e) 0.0131 9. Given that n is the sample size, the Central Limit Theorem tells us that (a) if n is small the t distribution should be used (b) if n

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QMBus Final s207 - AUSTRALIAN SCHOOL OF BUSINESS COMM5005...

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