STRATHMORE UNIVERSITY Strathmore Business School

STRATHMORE UNIVERSITY

Strathmore Business School

Master of Business Administration Continuous Assessment Test

MBA 8104: QUANTITATIVE ANALYSIS

Date:

Wednesday, 6th June 2012

Time: 2 hours

Instructions: This exam has two parts: multiple choice and essay portions. Answer ALL questions in both parts. Your answers should be entered in this script.

Best of wishes!

Multiple Choice: 40 Maximum Points

Identify the choice that best completes the statement or answers the question. Indicate your choice in the space provided to the left of the question.

____ 1. Statistical studies in which researchers control variables of interest are

a. experimental studies

c. non-experimental studies

b. control observational studies

d. observational studies

____

2. A population is a. the same as a sample b. the selection of a random sample c. the collection of all items of interest in a particular study d. always the same size as the sample

Information for question 3 In a recent study based upon an inspection of 200 homes in Wonderful City, 80 were found to violate one or more city codes.

____

3. The manager's statement that 40% of Wonderful City's 2,000 homes are in violation of city codes is a. an exactly correct statement b. only an approximation, since it is based upon sample information c. obviously wrong, since it is based upon a study of only 200 homes d. None of these alternatives is correct.

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Information for questions 4 & 5

In many universities, students evaluate their professors by means of answering a questionnaire. Assume a questionnaire is distributed to a class of 45 students. Students are asked to answer the following:

1. Sex 2. Race (Black, White, Other) 3. Age 4. Number of hours completed 5. Grade point average 6. My instructor is a very effective teacher

1

2

strongly agree moderately agree

3 neutral

4

5

moderately disagree strongly disagree

____ 4. How many variables are in this data set?

a. 3

b. 4

c. 5

d. 6

____ 5. How many observations are in this data set?

a. 5

b. 6

c. 3

d. 45

Information for question 6 The following is a frequency distribution of the monthly expenditures for long distance telephone service of 200 companies in a city.

Class 1 2 3 4 5 6

Expenditure (KShs. `000) 0 and under 20

20 and under 40 40 and under 60 60 and under 80 80 and under 100 100 and over

# of companies 42 64 34 28 20 12

____ 6. What percentage of companies have monthly expenditure for long distance service between KShs.40,000 and

KShs.100,000 ?

a. 54%

b. 82%

c. 27%

d. 41%

____

7. A researcher is gathering data from four geographical areas designated: South = 1; North = 2; East = 3; West

= 4. The designated geographical regions represent

a. categorical data

c. label data

b. quantitative data

d. either quantitative or categorical data

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____

8. A graphical presentation of the relationship between two variables is a. an ogive b. a histogram c. either an ogive or a histogram, depending on the type of data d. a scatter diagram

____

9. A situation in which conclusions based upon aggregated crosstabulation are different from unaggregated

crosstabulation is known as

a. wrong crosstabulation

c. Simpson's paradox

b. Simpson's rule

d. aggregated crosstabulation

____ 10. Since the population size is always larger than the sample size, then the sample statistic a. can never be larger than the population parameter b. can never be equal to the population parameter c. can be smaller, larger, or equal to the population parameter d. can never be smaller than the population parameter

____ 11. The median of a sample will always equal the

a. mode

c. 50th percentile

b. mean

d. all of the above answers are correct

____ 12. The interquartile range is used as a measure of variability to overcome what difficulty of the range? a. the sum of the range variances is zero b. the range is difficult to compute c. the range is influenced too much by extreme values d. the range is negative

____ 13. Which of the following symbols represents the mean of the population?

a. 2

b.

c.

d.

____ 14. Each individual outcome of an experiment is called a. the sample space b. a sample point c. an experiment

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d. an individual

____ 15. In statistical experiments, each time the experiment is repeated

a. the same outcome must occur

c. a different outcome may occur

b. the same outcome cannot occur again

d. a different outcome must occur

____ 16. When the assumption of equally likely outcomes is used to assign probability values, the method used to

assign probabilities is referred to as the

a. relative frequency method

c. probability method

b. subjective method

d. classical method

____ 17. The intersection of two mutually exclusive events

a. can be any value between 0 to 1

c. must always be equal to 0

b. must always be equal to 1

d. can be any positive value

____ 18. The range of probability is a. any value larger than zero b. any value between minus infinity to plus infinity c. zero to one d. any value between -1 to 1

____ 19. Events that have no sample points in common are

a. independent events

c. mutually exclusive events

b. posterior events

d. complements

____ 20. Two events with nonzero probabilities a. can be both mutually exclusive and independent b. cannot be both mutually exclusive and independent c. are always mutually exclusive d. are always independent

____ 21. If A and B are independent events with P(A) = 0.65 and P(A B) = 0.26, then, P(B) =

a. 0.400

b. 0.169

c. 0.390

d. 0.650

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____ 22. If P(A) = 0.4, P(B | A) = 0.35, P(A B) = 0.69, then P(B) =

a. 0.14

b. 0.43

c. 0.75

d. 0.59

____ 23. Assume your favorite football team has 2 games left to finish the season. The outcome of each game can be

win, lose or tie. The number of possible outcomes is

a. 2

b. 4

c. 6

d. 9

____ 24. If two events are independent, then a. they must be mutually exclusive b. the sum of their probabilities must be equal to one c. their intersection must be zero d. None of these alternatives is correct.

____ 25. If a coin is tossed three times, the likelihood of obtaining three heads in a row is

a. zero

b. 0.500

c. 0.875

d. 0.125

____ 26. If A and B are mutually exclusive events with P(A) = 0.3 and P(B) = 0.5, then P(A B) =

a. 0.30

b. 0.15

c. 0.00

d. 0.20

____ 27. A lottery is conducted using three urns. Each urn contains chips numbered from 0 to 9. One chip is selected at

random from each urn. The total number of sample points in the sample space is

a. 30

b. 100

c. 729

d. 1,000

____ 28. If P(A) = 0.58, P(B) = 0.44, and P(A B) = 0.25, then P(A B) =

a. 1.02

b. 0.77

c. 0.11

d. 0.39

____ 29. If P(A) = 0.62, P(B) = 0.47, and P(A B) = 0.88, then P(A B) =

a. 0.2914

b. 1.9700

c. 0.6700

d. 0.2100

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