Explain the use of Statistics in the business world today. State four limitations of Business Statistics

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

BUSINESS STATISTICS:

CONTINUOUS ASSESSMENT TESTS

Instructions

 Answer all questions. Each question has 20 marks and the average marks will be 30 marks

 Avoid exam malpractices. Each question is done on a separate page and well numbered.

 All your workings should be hand written and submitted online to LMS for marking.

QUESTION ONE

i) Explain the use of Statistics in the business world today. (10 marks)

ii) State four limitations of Business Statistics (4 marks)

iii) Highlight four methods of collecting primary Data (4 marks) iii) State two qualities of Statistical units. (2 marks)

QUESTION TWO

a) The following distribution table shows the marks of 50 students who sat for a continuous assessment test.

Table 1

Marks 0 - 10 10 - 20 20 - 30 30 - 40 40 – 50

Number of students 7 9 17 12 5

Calculate:

a) Mean Mark (2 marks)

b) Median mark (2 marks)

c) Modal mark (2 marks)

d) Standard deviation and Coefficient of variation. (4 marks)

e) Mean absolute deviation and its coefficient (3 marks)

f) Range and its coefficient (3 marks)

g) Geometric mean and harmonic mean marks (4 marks)

QUESTION THREE

i. Outline four characteristics of Statistical data. (4 marks)

ii. distinguish the following terms as used in statistics

a) Simple random sampling and stratified sampling ( 4 marks)

b) Discrete series and continuous series (4 marks)

c) Primary data sources and secondary data sources (4 marks)

d) Qualitative data and bivariate data (4 marks)

Attachments:

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