NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JANUARY/FEBRUARY 2018 EXAMINATION

Course Code:           Bus 722                                                 

Course Title:            Business Statistics

Credit Unit:             2

Instructions:            1. Attempt Question 1 and any other two (2) questions

       2. Question 1 is compulsory and carries 30marks while the other 2 questions carry 20marks each

                                 3. Present all your points in coherent and orderly manner

Time Allowed: 2 Hours

1a.           Write notes on the following methods of collecting data

1. Interviewing
2. Questionnaire
3. Observation
4. Survey                                                                                             8marks

1b.             Given the following set of numbers

5, 3, 8, 7, 1, 4, 5, 8, 9, 3, 4,2 7, 1, 5, 7, 6, 4, 8, 5, 6, 5, 3. 2, 8, 1, 7, 5, 5 4, 7, 1, 2, 5, 6, 4, 2, 7,4, 2 

1. Construct a frequency distribution                                          4marks
2. Calculate the mean and median                                                4marks                                   

1ci           Distinguish between Histogram and Simple bar chart.            2maks

cii            Suppose the monthly sales of a firm for six consecutive months are given as follows:

Construct a simple bar chart and Histogram                                                                            12maks

2a.           Outline the steps involves in research process                                        8marks

2b.           Write notes on the following types of research

1. Pure research
2. Specific research
3. General applied research                                                                         6marks

c.             What are the importance of research to an organizational concern?  12marks

3a.           Whatis the geometric mean of 3, 4, 7 and 8.                                                            6 marks

3b.            Suppose the rate of growth in the sale of a product over a period of 5years are 5%, 4%, 8%, 15% and 22%. If the sales in year 0 is #50000,

.i.   what is the sales at the end of the fifth year?                                     4marks

ii    calculate the mean rate of growth and true growth rate.                     4marks

3c.           A motorist moves from Y to Z, a distance of X kilometers with a speed of 120Km/hour and returns to point Y with a speed of 90Km/hour. What is the average speed.   6 marks

4a.           Given  the following set of class intervals

Calculate the mean deviation, variance and standard deviation.                               10maks

4b. The annual sales recorded by a firm in a year are recorded below and analysed in descending order. The unit is in naira. 800, 675, 620, 585, 540, 520, 420, 400, 350, 340, 290 and 250.  Calculate the interquartile range and quartile deviation of the distribution of the distribution. 10 marks

5. There are three factories V, W, and X , supplying goods to warehouses A, B, C and D, the amount of supplies from the factories to the warehouses are shown below,obtain the followings (i) V  A (ii)   W    D    (iii) C      X   from the table below 6 marks

5b.           Suppose there are 80 students in a class with students offering at least one of the subjects Chemistry, Physics and Biology, 22 students offer physics, 32 students offer chemistry and 45 students offer Biology. 15 students offer both physics and chemistry, 10 offer Physics and Biology and 12 offer Biology and Chemistry. Represent the data on a Venn diagram and find the number that offer

1. All  Students
2. Biology only
3. A student only
4. Two subjects only  12 marks