UCC103: Introduction to Quantitative Techniques Maximum Marks 25

Answer all Questions

Question 1
a) Define the following terms giving suitable example:
i. Cardinality of a Set (1 marks) ii. Disjoint Sets (1 marks) iii. Equality of
Sets (2 marks) iv. Equivalent Sets (2 marks)

b) 96 people submitted their applications for the position of Assistant Manager in charge
of Human Resources and Development. Of the applications received, it was noted that
15 applicants submitted Certificates only while 33 applicants submitted 2 documents.
Whereas 8 applicants submitted all the three documents, 10 did not submit any of the
required documents. 41 applicants did not submit degrees, but they submitted at least
one of the other two documents. 45 applicants submitted Certificates, 45 applicants
submitted Degrees and 45 applicants submitted Diplomas. Required:
i. Represent this information in a well labelled Venn diagram. (4 marks) ii.
How many applicants had degrees or certificates but not diplomas? (2 marks)
iii. How many of the applicants Degrees and Diplomas but not certificates? (2 marks) iv.
How many applicants did not have degrees? (1 mark)

Question 2

a) From the diagram below, show the elements of the following sets: (10 marks)

A 7 11 B
1 C

2 4 5 6 10 12 i. 𝐶𝑐
ii. (𝐴∩𝐵)∩𝐶𝑐 3
iii. (𝐴∪𝐵)𝑐 8 9 13
iv. (𝐴∩𝐵𝑐)∪𝐶 14, 15 v.
(𝐴𝑐 ∩𝐵𝑐)𝑐

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QUESTION 3

a) A set can be denoted using Roster form or Set Builder notation. Using
suitable examples, describe these two forms of denoting sets.
(4 marks)
b) The weekly revenue, R, of a certain company is given by the relation:
𝑥3
𝑅 = 1400 + 8100𝑥 − , 𝑤ℎ𝑒𝑟𝑒 𝑥 𝑖𝑠 𝑡ℎ𝑒 𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑢𝑛𝑖𝑡𝑠 𝑠𝑜𝑙𝑑.
12
Required:
i. Determine the number of units that must be sold for Revenue
to be maximized. (3 marks) ii.
Determine the maximum Revenue (3 marks)

QUESTION 4

a) Define the Cardinality of a Set using a suitable example (3 marks)

b) 290 ladies were surveyed as to their preferred holiday destinations from
among three well known destinations: France, Italy and Switzerland.

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The following results were obtained:

While 133 preferred Italy, 62 preferred France. 83 preferred Switzerland

and no other destination. 16 preferred France and Italy but not the
Switzerland. 29 preferred Switzerland and Italy but not France. It was
observed that 5 ladies preferred France but not the other destinations,
while 109 preferred France or Italy but not Switzerland. 28 ladies did not
like any of the three destinations.

Required: Use Venn diagrams to:

i. Calculate the number of ladies who chose all the three destinations.
 (3 marks)
ii. Calculate the number of ladies who chose at least one destination
(2 marks) iii.
Calculate the number of ladies who chose at most two destinations.
(2 marks)

(Max Marks 25)

a) If the Total Revenue and Total Cost functions for the production of x
units of a commodity are given by 𝑅(𝑥) = 50𝑥 − 𝑥2 𝑎𝑛𝑑 𝐶(𝑥) =
5𝑥2 + 10𝑥 + 54 respectively.
Find the Break-Even Quantity and Revenue (5 marks)
b) If Total Revenue for a commodity is given by
(𝑥) = 800𝑥 − 0.04𝑥2
i. Find the Marginal Revenue function (3 marks)
ii. At what level of production will the Revenue be maximized?
(5 marks)
c) Explain the use of Integration in finding Consumers’ and Producers’
Surplus. (8 marks)
d) Evaluate the following integral:

i. 𝑑𝑥 (4 marks)