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cima  business mathematics
business mathematics
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Question 1 
Regression analysis:
A  Measures the demand for a good 
B  Establishes a relationship between two variables. 
C  Measures growth. 
D  Establishes cause and effect. 
Question 2 
In the equation of a straight line, Y = mX + c the term, m is the:
A  Intercept. 
B  Slope. 
C  Independent variable 
D  Dependent variable. 
Question 2 Explanation:
It is the slope or gradient of the regression line, telling us how much the dependent variable (Y) changes for each unit change in the independent variable (X)
Question 3 
In the equation of a straight line, Y = mX + c , if c is equal to zero then:
A  In the equation of a straight line, Y = mX + c , if c is equal to zero then:
Does not cross the X axis.
The line of best fit cuts the X axis to the right of the Y axis.
The line of best fit cuts the X axis to the left of the Y axis.
The line of best fit passes through the origin.

B  The line of best fit cuts the X axis to the right of the Y axis. 
C  The line of best fit cuts the X axis to the left of the Y axis. 
D  The line of best fit passes through the origin. 
Question 4 
If the Pearson correlation coefficient R is equal to 1 then:
A  There is a negative relationship between the two variables 
B  There is a perfect positive relationship between the two variables 
C  There is no relationship between the two variables 
D  There is a positive relationship between the two variables. 
Question 5 
An index number is used:
A  To measure changes in price 
B  To measure changes in a variable over time 
C  To measure changes in demand 
D  To measure changes in quantity 
Question 6 
The ratio of a new price to the base year price is called the:
A  Price absolute 
B  Price decrease 
C  Price relative 
D  Price increase 
Question 7 
The Laspeyres and Paasche index are examples of:
A  Weighted index numbers 
B  Aggregate index numbers 
C  Weighted price index only 
D  Weighted quantity index only 
Question 8 
You lend a friend $1200 and they agree to make quarterly payments for 1 year. You charge your friend 8.4% compounded quarterly. What is the size of the payments?
A  $422.61 
B  $1300.80 
C  $263.26 
D  $321.29 
E 
$315.91

Question 9 
Find the principal that will amount to $7300 in four years at 5.8% compounded annually.
A  $5798.16 
B  $5791.74 
C  $5826.13 
D  $7160.56 
E  $9146.72 
Question 10 
Which ONE of these is an example of processed data?
A  Customer comments 
B  CCTV recordings of shopper visits 
C  Tables from surveys. 
D  Number of visitors to a store 
Question 11 
Most governments in the world have statistical departments but they are unlikely to provide:
A  agricultural census results. 
B  housing statistics. 
C  general population census records 
D  television programme viewing figures. 
E  industrial output figures. 
Question 12 
What is described here?
Indexes, citations to articles, summaries of abstracts.
A  Primary data. 
B  Secondary data. 
C  Tertiary data. 
D  Ratio data. 
Question 13 
What are secondary data?
A  Ordinary data. 
B  Ordinal data 
C  Existing data 
D  Unimportant data 
Question 14 
Experimentation, questioning and ______ are primary methods.
A  multiplication 
B  observation 
C  weighting 
D  web surfing 
Question 15 
If the slope of the regression line is calculated to be 2.5 and the intercept 16 then the value of Y when X is 4 is:
A  16 
B  26 
C  2.5 
D  66.5 
Question 15 Explanation:
Y = 4(2.5) + 16 = 26
Question 16 
A statistical measure of the variability of a distribution around its mean is referred to as __________.
A  a probability distribution 
B  the expected return 
C  the standard deviation 
D  coefficient of variation 
Question 17 
A company plans to sell a new product at £5 per unit. Variable costs per unit may be £1 (with a probability of 0.75) or £1.20. Fixed costs per week are £2000 and demand per week may be 700 units (probability 0.6) or 1100 units. What is the expected weekly profit assuming that production is adjusted to demand?
A  £1397 
B  £1480 
C  £1564 
D  £1646 
Question 17 Explanation:
Expected weekly sales = 700 x 0.6 + 1100 x 0.4 = 860
Expected weekly revenue = £5 x 860 = £4300
Expected weekly variable costs = 860 x £1 x 0.75 + 860 x £1.20 x 0.25 =£903
Fixed costs =£2000
Therefore expected weekly profit = £4300  (2000 + 903) = £1397
Question 18 
A survey of 120 business executives revealed the following results:
• 80 Read the Financial Times
• 60 read the Economist
• 40 read both the Financial Times and the Economist
If an executive is picked at random, find the probability that he or she reads both the Financial Times and the Economist.
A  0.666 
B  0.5 
C  0.333 
D  0.833 
Question 18 Explanation:
p(read both) = 40/120 = 0.333
Question 19 
Zip fit Tyre Company stocks three brands of tyre: brand A; brand B and brand C. 40% are Brand A, 35% are brand B and 25% are brand C. The percentage of defective tyres are 2% of brand A, 1% of brand B and 3% of brand C. If a tyre is picked at random what is the probability that it is defective?
A  0.075 
B  0.019 
C  0.366 
D  0.060 
Question 19 Explanation:
P(defective)= P(A)P(defectiveA) + P(B)P(defectiveB) + P(C)P(defectiveC) This is a weighted average of the brand defective rates
P(defective) = (0.4 x 0.02) + (0.35 x 0.01) + (0.25 x 0.03) = 0.019
Question 20 
Find the principal that will amount to $7300 in four years at 5.8% compounded annually.
A  $5798.16 
B  $5791.74 
C  $5826.13 
D  $7160.56 
E  $9146.72 
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