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K. van Bergen, J. Frencken

Examination Course: OAT/Resit/PT: Date: Unit 2 Business Environment Basic Statistics 10 November Details Maximum score(s): 20 Line paper Square paper No paper Yes √ √ √ √ No Number of pages (incl. front page ) Day: Time: 6 Thursday

Scratch form Scrap paper

Hand in test (tick relevant answer)

Permitted aids (tick relevant box)

None A non-annotated dictionary. A (graphic) calculator Course related materials Students may use the handouts from the training sessions.

Additional Remarks

You may use the back of the pages as scrap paper to make additional calculations. Good Luck!

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For this test, round off all final results to 2 decimals. Exercise 1 (7 points) This is a sample of the expenditures of clients in a pub in Euros. 15 6 23 35 34 23 11 19 7

For this exercise you only have to show the final answers, not the calculations. 1. Compute the mean, the mode and the median. (3) Mean: 173 / 9 = 19.22 Mode: 23 Median: 9 + 1 / 2 = 5 19

2. Compute the standard deviation. (2) X-M2 sum is 905.57 / 9 = 100.61 square root = 10.03 SD

In 2010 and 2011 the results of a test of a particular unit in year 1 showed the following results: 2010 5.0 2.0 2011 6.0 1.0

Mean Standard deviation

We assume that the frequency distribution of the results shown is perfectly symmetrical. 1. Which of the 2 tests had more students with a score of 8.0 or higher? Explain your answer. (2) Answer: 2010 Explanation: 2010 8 – 5.0 / 2 = 1.5 0.9332 2011 8 – 6 / 1 = 2 0.9772

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Exercise 2 (4 points) To get more insight into the shopping behaviour of their clients, a shoe salesman has made an overview of the expenditures of his clients during an average Saturday. expenditures 40-< 80 80 -< 120 120 -< 160 160 -< 200 200 -< 240 240 -< 300 frequency 10 16 25 32 28 12

1. Calculate the mean. Show your calculation. (2) Mean: 169.59 Calculation: total sum of F * midp = 20860 / 123 = 169.59

2. Calculate the standard deviation. Show your calculation (2) Standard Deviation: 58.09 Calculation: midp, midp – m, midp – m2, F * midp – m2 total sum = 415079.91 / sum of frequency 123 square root = 58.09

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Exercise 3 (3 points) Beer 1.50 1.65 1.72 Big Mac 2.50 2.75 2.80 Pizza 3.50 3.85 3.55

2008 2009 2010

1. Calculate the simple price index for beer for 2010, using 2008 as the base year.(1) 1.72 / 1.50 x 100 = 114.67

2. In 2008, the consumption quantity of each product is: 50 units of beer, 10 Big Macs and 15 pizzas per month. Calculate the 2010 weighted composite price index for the group of three products, using 2008 as the base year. (5) Weighted composite price index: 109.67 Calculation: 1.72 * 50 + 2.80 * 10 + 3.55 * 15 _____________________________ = x 100 = 109.67 1.50 * 50 + 2.50 * 10 + 3.50 * 15

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Exercise 4 (4)

For this exercise you may use the normal distribution table in the Appendix. (or use your calculator)

1. A set of final examination grades (0 – 100) in an introductory statistics course is normally distributed with a mean of 73 and a standard deviation of 8. a. What is the probability of getting a grade of 81 or less on this exam? Show your motivation / calculation (2) Answer: 0.8413 Motivation: 81 – 73 / 8 = 1 0.08413

b. The probability is 5% that a student taking the test scores higher than what grade? Show your motivation / calculation. (2)

1.65 = x – 73 / 8 ------------ x 8 13.2 = x – 73 ------------ + 73 86.2 = x 86.2

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