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Business Statstics/Series-4-2011(Code3009)

Business Statstics/Series-4-2011(Code3009)

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Published by Hein Linn Kyaw

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Published by: Hein Linn Kyaw on Jun 07, 2012
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Model Answers
Series 4 2011 (3009)
For furtherinformationcontact us:Tel. +44 (0) 8707 202909Email. enquiries@ediplc.comwww.lcci.org.uk
LCCI International Qualifications
Business StatisticsLevel 3
 
 3009/4/11/MA Page 1 of 16
Business Statistics Level 3
Series 4 2011
How to use this booklet
Model Answers have been developed by EDI to offer additional information and guidance to Centres,teachers and candidates as they prepare for LCCI International Qualifications. The contents of thisbooklet are divided into 3 elements:(1) Questions reproduced from the printed examination paper(2) Model Answers – summary of the main points that the Chief Examiner expected tosee in the answers to each question in the examination paper, plusa fully worked example or sample answer (where applicable)(3) Helpful Hints where appropriate, additional guidance relating to individualquestions or to examination techniqueTeachers and candidates should find this booklet an invaluable teaching tool and an aid to success.EDI provides Model Answers to help candidates gain a general understanding of the standard required.The general standard of model answers is one that would achieve a Distinction grade. EDI accepts thatcandidates may offer other answers that could be equally valid. © Education Development International plc 2011All rights reserved; no part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwisewithout prior written permission of the Publisher. The book may not be lent, resold, hired out orotherwise disposed of by way of trade in any form of binding or cover, other than that in which it ispublished, without the prior consent of the Publisher
 
 3009/4/11/MA Page 2 of 16
 QUESTION 1
(a) State
four
characteristics of the normal distribution.(4 marks)Each day from Monday to Friday John commutes to work by train. His journey takes an averageof 40 minutes to complete with a standard deviation of 10 minutes.(b) Assuming his journey times are normally distributed, find the probability that his journeytakes:(i) less than 20 minutes(ii) less than 55 minutes(iii) between 30 minutes and 60 minutes to complete.(8 marks)(c) If John always leaves home 60 minutes before his scheduled work start time, what is theprobability that he is not late for work on any day in a normal five day week?(3 marks)John buys a rail ticket each morning he arrives at the station.Over a typical 80 day period he notes that on 13 days there was no queue at the ticket office,on 25% of the days there was a queue of between 1 and 5 people and on the remaining days there wasa queue of 6 or more.He also noted that on 5% of the occasions there was a pricing error on his ticketAssume the length of the queue and possible ticket errors are independent events and that the abovedata is representative of all journeys made.(d) Find the probability that on a randomly chosen day there is a queue at the ticket officeand no error on the ticket purchased.(5 marks)
(Total 20 marks)MODEL ANSWER TO QUESTION 1Syllabus Topic 4.2: Normal Distribution
(a) Symmetrical, bell-shaped, mean median and mode are equal,asymptotic to the x axis(b) (i)
σ  
 x x z
=
=
104020
= -20/10 = -2, p = 0.977, Ans = 1-0.977 =0.023(ii)
σ  
 x x z
=
=
104055
= 15/10 = 1.5, Ans p = 0.933(iii)
σ  
 x x z
=
=
104030
= -10/10 = -1.0, p = 0.841
σ  
 x x z
=
=
104060
= 20/10 = 2.0, p = 0.977Answer 0.841 + 0.977 – 1 = 0.818(c) 0.977
5
= 0.891(d) 0.587 and 0.1625 seen0.95(0.5875 + 0.25) x 0.95 = 0.7964x11m 1ft 1cao1ft1cao1cao1cao1cao1m 1ft 1cao1m 1cao1cao1m 1cao

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