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Business Statstics/Series-3-2007(Code3009)

Business Statstics/Series-3-2007(Code3009)

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Published by Hein Linn Kyaw

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Published by: Hein Linn Kyaw on Jun 22, 2012
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03/10/2014

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BusinessStatistics
Level 3
Model Answers
Series 3 2007 (Code 3009)
 
1
Business Statistics Level 3
Series 3 2007
 
How to use this booklet
Model Answers have been developed by Education Development International plc (EDI) to offer additional information and guidance to Centres, teachers and candidates as they prepare for LCCIInternational Qualifications. The contents of this booklet 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,plus a 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 standardrequired. The general standard of model answers is one that would achieve a Distinction grade. EDIaccepts that candidates may offer other answers that could be equally valid.© Education Development International plc 2007 All rights reserved; no part of this publication may be reproduced, stored in a retrieval system or transmitted 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 or otherwise 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.
 
3009/3/07/MA 2
QUESTION 1
Over the past 9 years a company has achieved the following market shareYear Market Share %1998 22.31999 21.62000 22.02001 21.12002 20.82003 19.92004 19.52005 18.42006 17.6(a) Plot the data on a graph and comment on the pattern shown.(4 marks)(b) Calculate and state the least squares regression line for Market Share dependent on Year.(10 marks)(c) Use the regression line found in (b) to estimate the year in which market share is likely to fall to15% and comment upon the accuracy of your estimate.(6 marks)
(Total 20 marks)

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