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Quantitative Methods for Business Management
Draft
Questions used in a university course titled "Quantitative Methods for Business Management"
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England schools
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England university
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Scotland schools
Taxonomy: mathcentre
Taxonomy: Kind of activity
Taxonomy: Context
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History
Newcastle University Mathematics and Statistics 9 years, 3 months ago
Created this.There is only one version of this exam that you have access to.
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1.Ready to useGiven a table of the number of days in which sales were between £x1000 and £(x+1)1000 find the relative percentage frequencies of these volume of sales.
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2.Ready to useChoosing whether given random variables are qualitative or quantitative.
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3.Ready to useDeciding whether or not three sampling methods are simple random sampling, stratified sampling, systematic or judgemental sampling. Also whether or not the method of selection is random, quasi-random or non-random.
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4.Ready to useGiven random set of data (between 13 and 23 numbers all less than 100), find their stem-and-leaf plot.
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5.draftGiven sample data find mean, standard deviation, median, interquartile range,
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6.Ready to useSimple probability question. Counting number of occurences of an event in a sample space with given size and finding the probability of the event.
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7.Ready to useExample showing how to calculate the probability of A or B using the law p(AorB)=p(A)+p(B)−p(AandB). Also converting percentages to probabilities. Easily adapted to other applications.
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8.draftIndependent events in probability. Choose whether given three given pairs of events are independent or not.
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9.Ready to useFinding probabilities from a survey giving a table of data on the alcohol consumption of males. This can be easily adapted to data from other types of surveys.
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10.Ready to useGiven data on probabilities of three levels of success of three options and projections of the profits that the options will accrue depending on the level of success, find the expected monetary value (EMV) for each option and choose the one with the greatest EMV.
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11.Ready to useGiven descriptions of 3 random variables, decide whether or not each is from a Poisson or Binomial distribution.
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12.Ready to useApplication of the Poisson distribution given expected number of events per interval. Finding probabilities using the Poisson distribution.
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13.Needs to be testedApplication of the binomial distribution given probabilities of success of an event. Finding probabilities using the binomial distribution.
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14.draftGiven a random variable X normally distributed as N(m,σ2) find probabilities P(X>a),a>m;P(X<b),b<m.
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15.draftFinding the confidence interval at either 90%, 95% or 99% for the mean given the mean and standard deviation of a sample. The population variance is not given and so the t test has to be used. Various scenarios are included.
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16.Ready to useFinding the confidence interval at either 90%, 95% or 99% for the mean given the mean of a sample. The population variance is given and so the z values are used. Various scenarios are included.
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17.draftGiven two sets of data, sample mean and sample standard deviation, on performance on the same task, make a decision as to whether or not the mean times differ. Population variance not given, so the t test has to be used in conjunction with the pooled sample standard deviation. Link to use of t tables and p-values in Show steps.
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18.draftProvided with information on a sample with sample mean and standard deviation, but no information on the population variance, use the t test to either accept or reject a given null hypothesis.
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19.draftProvided with information on a sample with sample mean and known population variance, use the z test to either accept or reject a given null hypothesis.
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20.Doesn't workUses the χ2 test to see if there is any significant difference in preferences.
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21.draftThe human resources department of a large finance company is attempting to determine if an employee’s performance is influenced by their undergraduate degree subject. Personnel ratings are used to judge performance and the task is to use expected frequencies and the chi-squared statistic to test the null hypothesis that there is no association.
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22.draftFind out whether the data presented in this question follows a Poisson distribution. Uses the χ2 test.
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23.Ready to useMoving averages, regression and seasonal adjustments.
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24.draftFind a regression equation given 12 months data on temperature and sales of a drink.
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