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Find the variance of the dataset below. Assume that the mean equals 4.

INSTRUCTIONS TO CANDIDATES
ANSWER ALL QUESTIONS

 

QUANTITATIVE METHODS 2020-2021 REFER DEFER FINAL EXAM

VERSION TWO

Answer ALL questions.

Question 1. Find the mean of the dataset below. [10 marks] 

Data

Frequency

2

6

4

10

7

5

10

9

 

Question 2: Find the variance of the dataset below. Assume that the mean equals 4. [10 marks] 

Data

Frequency

1

9

2

5

5

9

8

7

 

Question 3. If you take a dataset and multiply all the observations by 2, would you expect the variance to change? Briefly explain why or why not. (Max 200 words) [10 marks]

 

Question 4. Below are the seasonal deviations derived from a dataset using an additive model. Find the seasonal variations. [8 marks] 

 

Q1

Q2

Q3

Q4

Seasonal deviations

30

100

40

-70

 Question 5. Using the multiplicative model, find the forecast for Q1, 2022 if the estimated trend for Q1, 2022 is equal to 100. Note that the numbers below have already been adjusted. [7 marks] 

 

Q1

Q2

Q3

Q4

Seasonal variations

1.05

1.02

0.95

0.98

 

Question 6. You flip a coin and roll two 6-sided dice. How many different outcomes are possible? [5 marks]

 Question 7. You roll a 6-sided die and pick a card from a standard stack of 52 playing cards.

If you roll a number less than 3 AND pick a card with a suit of diamonds (t), then you win. What is the probability of winning? [10 marks]

 

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