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OPMT 1130 Quiz 2*
Last Name: fill uh0@
First Name: ~ Set: E ; Q
' OPMT 1130 Quiz #2 April 15, 2014 50 Minutes 50 Marks
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OPMT 1130
Business Statistics
Myra Andrews, Judy Li
Winter 2016
Review for Quiz #2
Review Exercises See separate handout
*A detailed answer key is on Shareout: OPMT/1130/Myra Andrews
Information about the Quiz
Based on Lectures 14-19
50 minutes long,
OPMT 1130
Business Statistics
Myra Andrews
Winter 2016
Lecture 22 ANOVA formulas
g nj
Overall mean (grand mean):
x
xij
j 1 i 1
n
Total Variation: SST = Sum of Squares Total
g nj
2
SST = ( xij x )
j 1 i 1
Variation Between Groups: SSB = Sum of Squares
OPMT 1130 Review exercises
Review Exercises Quiz #2
1. Chan Advertising Agency has determined that the average cost to develop a 30-second
commercial is $20,000. The standard deviation is $3,000. The costs for the commercials are
known to be normally dist
OPMT 1130
Business Statistics
Myra Andrews
Winter 2016
Lectures 23-24: Simple Linear Regression
Example 1: You are working in the entertainment field. You would like to predict how much a
single man spends on entertainment per month based on his annual in
OPMT 1130 Quiz 2*
OPMT 1130 BuSiness Statistics
Quiz #2, April 19, 2016
50 Minutes 50 Marks
Last Name: 60' t6
First Name: Set:
Formulas:
0 There are 4 questions and 5 pages including this cover page.
0 include all units, dollar signs, and pe
OPMT 1130 Quiz 3 V1
1. A pharmaceutical company is investigating the relationship between advertising expenditures
and the sales of some popular over-the-counter (OTC) drugs. The table represents a sample
of 8 common OTC drugs (advertising is in $100, 000
go um W95 . _
7 ,
" ' \
Final Review Lecture "’ ANS“) ’ ~
1. Statistics Canada cross-classiﬁed 400 18-24 year olds as to whether or not they attended
university in 2001 and what income group their parents belong to. They wanted to see if
university atten
Q1.
i.
Firms
Price per Unit
Number of
Units
X
Y
Z
$4.00
$6.00
$2.00
250
300
300
Amount sold
to other
companies
$225
$250
$550
Amount added to GDP
4 x 250 225= $775.00
6 x 300 550= $1250.00
2 x 300 550= $50.00
Total GDP = $2075.00
GDP is the value of all f
OPMT 1110
Business Mathematics
Myra Andrews
Fall 2014
Lecture 20: Equivalent Uniform Annual Cost
1. You are deciding which brand of photocopier to buy for your office.
The Jetspeed sells for $6,000. The annual operating costs are expected to be $2,000 pe
OPMT 1110
Business Mathematics
Myra Andrews
Fall 2014
Lecture 16: Amortization Table
A corporation takes out a short-term commercial loan for $40,000 and amortizes it over 4 months
(paid off over 4 months) with payments of $11,000 per month. The interest
OPMT 1110
Business Mathematics
Myra Andrews
Fall 2014
Lecture 15: Perpetuities
Illustration: UBC receives a $10,000 donation. They invest the money at 5% effective. The
interest earned is paid out as a scholarship each year.
1. A BCIT alumnus (graduate) w
OPMT 1110
Business Mathematics
Myra Andrews
Fall 2014
Lecture 14: Deferred Annuities
1. On April 15, 2014 you bought appliances from Home Depot for $7,500. The store had a
special Buy Now, Pay Later promotion where you make no payments and pay no interest
OPMT 1110
Business Mathematics
Myra Andrews
Fall 2014
Lecture 13: Annuities Due (see page 4 of handout)
1. Starting today, I plan to deposit $500 per month into an account paying j12 = 12%. How
much interest will I earn at the end of 4 years?
2. You pay f
OPMT 1110
Business Mathematics
Myra Andrews
Fall 2014
Lecture 12: Simple and General Annuities
For the past 10 years you contributed $400 each month into a retirement plan that paid 5%
compounded monthly. How much interest did you earn over the 10 years?
OPMT 1110
Business Mathematics
Myra Andrews
Fall 2014
Lecture 10: Compound Interest
Using the Calculator
1. I borrowed $3,000 from my line of credit. If I make no payments how much would I have to
pay back at the end of 42 months if the interest rate char
OPMT 1110
Business Mathematics
Myra Andrews
Fall 2014
Lecture 9: Compound Interest
1. Time duration = 60 months. Interest rate = 12% per year. Fill it the table below.
Compounded
(converted)
Interest
added on
j-notation
Annually
/year
j1
Semi-annually
/ye