NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
SEPTEMBER 2020 EXAMINATION

Course Code: BUS722
Course Title: Business Statistics
Credit Unit: 2
Instructions: 1. Indicate your Matriculation Number clearly 2. Attempt Question 1 and any other two (2) questions 3. Question 1 is compulsory and carries 30 marks while the other 2 questions carry 20marks each 4. Present all your points in coherent and orderly manner
Time Allowed: 2 Hours

1. A wholesaler stocks heavy (2B), medium (HB), fine (2H) and extra fine (3H) pencils which come in packs of 10. Currently in stock are two packs of 3H, 14 packs of 2H, 35 packs of HB and 8 packs of 2B. If a pack of pencil is chosen at random for inspection, what is the probability that they are:
(a) Medium (7.5 Marks)
(b) heavy (7.5 Marks)
(c) not very fine (7.5 Marks)
(d) neither heavy nor medium? (7.5 Marks)

2. Write short notes on the following
(i) Entity (vi) Discrete Variable
(ii) Random Variable (vii) Continuous Variable
(iii) Variable (viii) Population
(iv) Quantitative Variable (ix) Sample
(v) Qualitative Variable (x) Random Variable (20marks)
 
2
3. From the following data calculate price index for 2015 with 2013 as the base year by (i) Laspeyre’s method (ii) Pasche’s method (iii) Fisher’s method and
(i) Dowbish-Bowley price index methods Commodities 2018 2020
Price Quantity Price Quantity
Gaari 20 8 40 6
Rice 50 10 60 5
Fish 40 15 50 15
Palm-oil 20 20 20 25
(20 Marks)

4. NOUN Centre’s stores has been selling the Wonders of statistics study guide for 12
Semester and would like to estimates the relationship between sales and number of sections of
elementary statistics taught in each Semester. The data below have been collected.
Sales
(units)
33 35 24 61 52 45 65 82 29 63 50 79
No of
sections
3 7 6 6 10 12 12 13 12 13 14 15
a. Obtain the coefficient of correlation (15 Marks)
b. Comment on your result? (5 Marks)
3

5. The School of Management Science (SMS) has investigated the relationship between some students performance in their various courses and lecture received per each semester and
also the quality of some lecturers. The SMS has a data of ten candidates which are:
Student 1 2 3 4 5 6 7 8 9 10
No of
lecturer
9 6 12 14 11 6 19 16 3 9
Quality of
lecturers
99 100 119 95 110 117 98 101 100 115
Exams
scores
56 45 80 73 71 55 95 86 34 66
From general representation: y = a+b1x1+b2x2+b3x3------bx xn.
Use the above equation to obtain your findings i.e. Multiple Regression Analysis.
 (20 Marks)