Statistics for Economics and Business 1 (ECON2105)
Faculty of Economics and Management Science (FEMS)
Semester: First Semester
Level: 200
Year: 2015
Instructions: answer all questions
Duration:
EXERCISE
1:
(20
marks)
1.
Give
two
advantages
and
three
disadvantages
of
the
mode,
mean
and
median.
2.
Answer
by
“true”
or
“fault”
a.
If
a
mode
exist
it
is
certain
to
have
the
value
that
was
actually
observed.
b.
The
median
can
be
calculated
in
in
some
cases
where
the
mean
or
mode
cannot.
c.
The
mode
may
not
be
unique
d.
The
mean
may
be
significantly
affected
by
the
inclusion
of
a
mistaken
observation
or
of
an
unusual
observation.
e.
The
statistical
properties
of
the
mode
and
the
median
are
difficult
to
determine.
f.
A
bar
chart
is
a
graphical
device
for
depicting
qualitative
data
summarized
in
a
frequency,
relative
frequency
or
percent
frequency
distribution.
g.
A
cross
tabulation
is
a
tabular
summary
of
data
for
two
variables.
h.
The
CPI
is
an
indicator
of
what
is
happening
to
prices
consumers
pay
for
items
purchased.
EXERCISE 2: (10 marks)
The shoe sizes of the members of a football team are: 10, 10, 8, 11, 10, 9, 9, 10, 11, 9, 10. Find:
i. The mean shoe size
ii. The median shoe
size
iii. The modal shoe
size
THE UNIVERSITY OF BAMENDA
FACULTY OF ECONOMICS AND MANAGEMENT SCIENCES
1st Semester
Course :
Credit Value:
Course Lecturers:
Time:
Course ode:
Venue:
www.schoolfaqs.net
EXERCISE 3: (10 marks)
Eight numbers have a mean of 16. Given that the first seven numbers have a total of 130,
determine the value of the eight numbers.
EXERCISE 4: (30 marks)
A doctors’ office staff studied the waiting times for patients who arrive at the office with a
request for emergency service. The following data with waiting times in minutes were collected
over a one-month period: 2, 5, 10, 12, 4, 4, 5, 17, 11, 8, 9, 8, 12, 21, 6, 8, 7, 13, 18, 3. Use classes
of [0-5[, [5-10[… on the following:
1.
In one table, show: the frequency distribution, the relative frequency distribution,
cumulative frequency distribution and cumulative relative frequency distribution.
2.
What proportion of patients needing emergency service waits 9 minutes or less?
3.
What proportion of patients needing emergency service waits less than 10 minutes?
4.
What proportion of patients needing emergency service waits between 5 and 15 minutes?
5.
What proportion of patients needing emergency service waits more than 9 minutes?
6.
Find: a) the mean b) the mode
State five graphical methods which can be used to summarized these data?
www.schoolfaqs.net
