NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
MARCH/APRIL 2015 EXAMINATION

COURSE CODE:      BUS800                                                                        

CREDIT UNIT:  2

COURSE TITLE:     QUANTITATIVE ANALYSIS

TIME ALLOWED:   2HRS

INSTRUCTION: Attempt question 1 and any other 2 questions of your choice; Question 1 carries 30 marks while the other carries 20 marks each. Show all your calculations for appropriate marks

1a. Let A = {1,2,3,4}, B = {2,4,6,8} and C = {3,4,5,6}. Find

(i) A∪B           2marks

(ii) A∪C          2marks

(iii) B∪C         2marks

(iv) B∪B         2marks

b. Define the following with example

(i) Rational Numbers              3marks

(ii) Natural Numbers              3marks

(iii) Prime Numbers                3marks

(iv) Decimals and Real Numbers     3marks

(v) Absolute Value                 3marks

c. Outline the characteristics of OR.  7marks

2a. A number of families of a particular type were measured by the number of children they have, given the following frequency distribution:

Number of children: 0       1     2      3     4     5 or more

Number of families: 12    28    22    8     2     2

Use this information to calculate the (relative frequency) probability that another family of this type chosen at random will have:

(a) 2 children (b) 3 or more children (c) less than 2 children            4marks each (12marks)

b. List and explain the classification of models by structure.            8marks

3a. Assume there is a drug store with 10 antibiotic capsules of which 6 capsules are effective and 4 are defective. What is the probability of purchasing the effective capsules from the drug store? 10marks

b. List and explain four situations under which decisions can be made.         10marks

4a. What do you understand by the term decision tree?     5marks

b. Write short notes on the following:

i Decision Node          8marks

ii Change Node           7marks

5a. Differentiate between model and modelling.       10marks

b. Outline the advantages and application of simulation.   10marks