CHAPTER 8

SOLUTIONS

CHAPTER 1

Exercise 1

1) 30 2) 17 3) 22 4) 6 5) 105 6) 48
53 − 31
7) 19 8) -19 9) 10) 25 11) 12) 88
3 3
−7
13) 134 14) 15) 240
4

Exercise 2

2 6 2 3
1) a) b) c) d)
1 5 3 1

1
2) 3) 416 4) K336 000 5) K86 400
500

Exercise 3

1) K91 200 2) 22 500 3) K825 4) K1 350 000

5) 400km 6) 416 7) K712 500 8) $91
9) 15 hours 10) K6 000 000

Exercise 4

1) 4 hours 2) 24 days 3) 4 sweets 4) 24 days

2
5) 2 days
7

370
Exercise 5

1) 11.51 SAR 2) 147.77E 3) 2,228,571.43 SAR

4) K2 765 000 5) £123.68 6) 1 SAR = K750
7) a) $111.11 b) K2362 500 c) K2 344 440

Exercise 6

1) 1500m 2) 0.55kg 3) 55.65kg 4) 513kg

5) 35cm 6) 45.6m 7) 0.135kilo litre 8) 902500m 2
9) 167cm 10) 25.02kg 11) 3735cm 3

CHAPTER 2

Exercise 1

1) a) 4 b) 31 c) −9 d) − 12 e) − 12
f) 15 g) 5 h) − 15 .

Exercise 2

1) a) a11 b) a15 c) a5 d) a3 e) a3
a 36
f) 3−36 g) 3−24 h) − .
b 20

2) a) 27.621 b) 105.382 c) 12.2497 d) 20.967

3) a) 1.682 b) 0.1108 c) 0.6487 d) 5.213

e) 12.1825 f) 145.413 g) 0.9802 h) 2.8629

Exercise 3

1) x = 2, y = 2 2) x = 8, y = 5 3) x = 2, y = 5
4) x=3y =4 5) q = 8, p = 5 6) x = 1, y = 2, z = 3
7) q = 5, p = 3 8) P1 = −59, P2 = 15, P3 = 56
27 7
9) x = 45, y = 50 10) x= ,y=
4 2

371
 EXAMINATIONS QUESTIONS WITH ANSWERS

Multiple Choice

1.1 B 1.2. A 1.3 B 1.4 B 1.5 A 1.6 D

1.7 A 1.8 A 1.9 A 1.10 C

SECTION B

Solution One

3 2 + 3q
a) + =5
2q − 5 q
Multiply both sides by q (2q − 5)
3q + (2q − 5)(2 + 3q ) = 5q (2q − 5)
3q + 4q + 6q 2 − 10 − 15q − 10q 2 − 25q
6q 2 − 8q − 10 = 10q 2 − 25q
4q 2 − 17 q + 10 = 0
17 10
q2 − q+ =0
4 4
2
 17  289 10
q −  = −
 8 64 4
2
 17  129
q −  =
 8 64
17 129
q− =±
8 8
11.3578 + 17
q=±
8
q = 3.54 or 0.71

b) At equilibrium Ps = Pd and Qd = Qs
200 − 5Q = 92 + 4Q
− 9Q = −108
Q = 12

when Q = 12, P = 200 − 5(12) = 200 − 60 = 140

372
c) 3x − y + z = 5 → (1)
2 x + 2 y + 3z = 4 → ( 2)
x + 3 y − z = 11 → (3)

Equation (1) add to reaction (3) to eliminate z.

4 x + 2 y = 16 → ( 4)
Equation (2) and 3 × equation (3) to get equation (5) 5 x + 11 y = 37 .

Multiply equation (4) by –5 and equation (5) by 4 and add the two new equations
to get the value of y.

− 20 x − 10 y = −80
20 x + 44 y = 148

34 y = 68
y=2

Substituting this value of y in equation (4),

4 x + 4 = 16
4 x = 12
x=3

Finally, substituting x = 3, y = 2 in equation (1),

z = 5 − 3(3) + 2 = −2 . x

Solution Two

i)
x 1 2 3 4 5 6 7 8

C = x2 + 2x + 6 9 14 21 30 41 54 69 86

373
ii)

18 •

12 • C = x2 + 2 x + 6

6 •

0 1 2 3 4 5

iii) 25 = x 2 + 2 x + 6

x 2 + 2 x − 19 = 0
a = 1, b = 2, c = −19

− 2 ± 22 + 4(1)(19) − 2 ± 8.94
x= =
2 2
x = 3.472

x ≅ 347 tonnes

374
 CHAPTER 3

Exercise 1

2) Score Tally Frequency

6 I 1
7 I 1
8 IIII IIII 10
9 IIII IIII IIII 14
10 IIII I 6
11 IIII 4
12 IIII 4
∑ f = 40
3)

30

26

22

18
Number
of stores 14

10

100 150 185 200 250 277

price (Kwacha/g)

375
4) 28

24

21

18
Number
of Accounts 15

12

0.5 10.5 20.5 30.5 40.5 50.5 60.5

price (Kwacha/g)

5)

200

150
Number
of people

100

50

0 2 5 8 11 14

Age (years)

376
6) i) ‘less than’ distribution

f F

0 – 10 26 26
10 – 20 44 70
20 – 30 36 106
30 – 40 30 136
40 – 50 8 144
50 – 60 6 150

150

125 • •
•

100 •

Cumulative 75
frequency •

50

•
25

10 20 30 40 50 60 70

Monthly Bonus (Kwacha)

377
ii) “greater than” distribution

f F

0 – 10 26 150
10 – 20 44 124
20 – 30 36 80
30 – 40 30 44
40 – 50 8 14
50 – 60 6 6

150 •

125

100

Cumulative 75
frequency •

50
•

25 •
•

10 20 30 40 50 60 70

Monthly Bonus (Kwacha)

378
7)

others

Competitions

TV
Newspaper

Radio

150
TV × 360 = 207.69 ≅ 208o
260

30
Radio × 360 = 41.538 ≅ 42o
260

50
Newspaper × 360 = 69.23 ≅ 69o
260

20
Competitions × 360 = 27.69 ≅ 28o
260

10
Others × 360 = 13.846 ≅ 14o
260

379
8)

300

No. of
200
Employees

100

50

A B C D

Factory

9)

300

No. of

200
Employees

100

50

X Y Z W
Factory

Unskilled Semi-skilled Skilled

380
 1000

900

700

600

Frequency 500

400

300

200

100

Companies

Company X

Company Y

Company Z

Exercise 2

1) a) 592.5 b) 9.083 c) 14.6 d) 8

e) −8.8

2) a) 24.5625 b) 4.918 c) 47.385 d) 28.058

e) 45.894

3) K345 833.33
4) i) 9.681 ii) 1.55 iii) 1.2
5) i) 1 ii) 1

381
6) a) 169.643 b) i) 186.765 ii) 176.667

7) i) a) 5.21875 median = 5.333 Mode = 5.167

ii) a) 241.216 b) 21.071 c) 21.667

8) Mean = 155.857 median = 156.429 Mode = 184.375

9) Mean = 3.267 median = 3 Mode = 3 and 4

10) a) mean b) mode c) mean d) mean

e) mode f) mode

Exercise 3

2) range = 6 Q1 = 2, Q3 = 5 QD = 1.5 σ = 1.692

3) a) 99.517 b) 10.286 c) 9 d) 10.34%

4) a) 64 b) 35 c) 30 d) 17
e) 50 f) 16.5 g) 98.163 h) 0.061

5) i) 6.148 ii) 6 iii) 5 iv) 7.308

6) Year 1

µ = 13.5 σ = 11.554 cv = 85.6

Year 2

µ = 13.5 σ = 10..308 cv = 76.4

There is less variability in the number of rooms per dwelling in Zambia in the
second year than the first year.

382
 EXAMINATION QUESTIONS WITH ANSWERS

1.1 B 1.2 D 1.3 C 1.4 C 1.5 C 1.6 B

1.7 B 1.8 C 1.9 C 1.10 C

SECTION B

Solution One

a) Arrange the data in decreasing order 2, 4, 5, 7, 8, 11, 13, 18

Since n = 8 , and

1
position (8) = 2; Q1 = 4
4
3
position (2) = 6; Q3 = 11
4
11 − 4 7
∴ QD = = = 2 .5
2 2

59.3
b) Congo DR = × 360o = 136o
156.9
61.6
Congo Brazaville = × 360o = 141o
156.9

15.8
Tanzania = × 360o = 36o
156.9

10.3
Kenya = × 360o = 24o
156.9

9 .9
Zambia = × 360o = 23o
156.9

383
 Zambia
23
Kenya
24
Congo DR
36 136
Tanzania

141
Congo Brazaville

Pie chart for five distant geographical market.

Solution Two

a) For category x

x − midpo int f xf x2 f
6.95 3 20.85 144.9075
10.95 5 54.75 5.995125
14.95 7 104.65 1564.5175
18.95 6 113.7 2154.615
22.95 3 68.85 1580.1075
26.95 1 26.95 726.3025

∑f = 25 ∑ xf = 389.75 ∑x 2
f = 6769.9625

384
Thus, the standard deviation is

( fx )
∑ x f − ∑f
2
2

S=
f

6769.9625 −
(389.75)
2

S= 25
25

S = 27.7504 = 5.27(2 decimal places )

For category y,

x − midpo int f xf x2 f
6.95 4 27.8 193.21
10.95 8 87.6 959.22
14.95 8 119.6 1788.02
18.95 3 56.85 1077.3075
22.95 3 68.85 1580.1075
26.95 4 107.8 2905.21

∑f = 30 ∑ xf = 468.5 ∑x 2
f = 8503.075

Thus, the standard deviation is:

( fx )
∑ x f − ∑f
2
2

S=
f

8503.075 −
(468.5)
2

= 30
30

= 39.5556

≅ 6.29

385
b)

Complaints per week (x) Number of weeks (f) Cumulative frequency (F)
0 5 5
1 12 17
2 7 24
3 2 26
4 1 27

1
Position of the median is given by (27) = 13.5
2

The 1.5th observation will be found where cumulative frequency is 17. hence, the
median is 1.

c)
f x fx f x−x
*0 – 100 3 50 150 960
100 – 200 6 150 900 1320
200 – 300 11 250 2750 1320
300 – 400 15 350 5250 300
400 – 500 12 450 5400 960
500 – 600 7 550 3850 1260
600 – 700* 6 650 3900 1680

∑f = 60 ∑ fx = 22200 ∑ x − x = 7800

* Approximate lower boundary and upper boundary.

x=
∑ fx = 22200 = 370
∑f 60

Mean deviation =
∑ f x−x
∑f
7800
= = 130
60

386
Solution Three

x f xf x2 f
32.5 22 715 23237.50
37.5 27 1012.5 37968.75
42.5 21 892.5 37931.25
47.5 31 1472.5 69943.75
52.5 21 1102.5 57881.25
57.5 18 1035 59512.50

∑f = 140 ∑ xf = 6230 ∑x 2
f = 286475

i) Mean =
∑ xf =
6230
= 44.5
∑f 140

ii) Standard deviation

(∑ xf ) 2

∑x f −
2

σ = ∑f
∑ f −1

286475 −
(6230)2
= 140
139

= 66.475 ≅ 8.15

iii) Since the data is grouped, and thus the original access times are not known, both
the measures above are estimates, i.e. approximations of the actual values.

387
Solution Four

i) Class Interval Tally Frequency(f)

35 – 39 l 1
40 – 44 IIII lll 8
45 – 49 IIII IIII I 11
50 – 54 III 3
55 – 59 II 2
60 – 64 II 2
65 – 69 II 2
70 – 74 1 1
30

ii) The modal class frequency is 45 – 49 .

Solution Five

a) i) The mean class size of the college can be calculated as follows:

English History
44 × 152 + 26 × 192
= 668.8 + 499.2
= 1168
Therefore, mean class size of college
1168
= = 16.6857 = 16.7
70

ii) From the frequency distribution it is found that 4 classes were of size 1 – 6
students and 15 + 3 classes were of size 7 – 12 students. Therefore, a total of 22
classes would not be run. Thus, 70 – 22 = 48 classes will remain. The 1168
students would, therefore, be distributed over 48 classes, giving a mean class size
1168
of = 24.3
48

388
iii) Given that the students attending classes of size 1 – 6 and 7 – 12 are not admitted,
the mean class size of the college can be calculated from the modified frequency.

Size Mid-point x No. of classes ( f ) fx

13 – 18 15.5 21 325.5
19 – 24 21.5 16 344.0
25 – 30 27.5 9 247.5
31−36 33.5 2 67.0

48 984

Therefore, mean =
∑ fx = 984
∑ f 48

= 20.5

Solution Six
a)
Freq

150

100

50
Mode = 26.7

0 10 20 30 40 value

389
 b) i)
x f fx x2 f
5 16 80 400
15 30 450 6750
25 34 850 21250
35 22 770 26950
45 10 450 20250
60 5 300 18000
80 3 240 19200

∑f = 120 ∑ xf = 3140 ∑ fx 2
= 112800

3140
x= = K 26.167 m
120
112800
σ = − (26.107) 2
120
σ = K15.978m.

ii) The mean salary five years ago was K18.95m whereas toady this has increased to
K20,166m, unfortunately, the variation around the mean has also increased from
K10.6m to K15.978m, clearly indicating increased variability in salary.

Solution Seven

IQ No. of x xf x2 f f x−x
children Mid
(f ) point
50 – 59 1 54.5 54.5 297.25 44.6
60 – 69 2 64.5 129.0 8320.5 69.2
70 – 79 8 74.5 596.0 44402.0 196.8
80 – 89 18 84.5 1521.0 128524.5 262.8
90 – 99 23 94.5 2173.5 205395.75 105.8
100 – 109 21 104.5 2194.5 229325.25 113.4
110 – 119 15 114.5 1717.5 196653.75 231.0
120 – 129 9 124,5 1120.5 139502.25 228.6
130 – 139 3 134.5 403.5 54270.75 106.2

∑f = 100 ∑ xf = 9910 ∑x 2
f = 1009365 ∑f x − x = 1358.4

390
 9910
i) x= = 99.1
100

Mean deviation =
∑ f x−x
∑f
1358.4
= = 13.584
100

ii)

( xf )
∑ x f − ∑f
2
2

σ =
f

1009365 −
(9910 )
2

= 100
100

σ = 2772.84 = 16.52

c) The standard deviation is greater than the mean deviation. This is because the
standard deviation gives more prominence to extreme values. The mean
deviation, on the other hand gives equal weight to extreme items and items whose
deviation from the mean is small, so that the existence of several extreme items is
not adequately reflected.

Solution Eight

Value x No. of workers f xf

100 000 165 16500 000
150 000 190 28500 000
200 000 105 21000 000
250 000 92 23000 000

∑f = 552 ∑ xf = 89000 000

391
 i) Mean = x =
∑ xf =
89 000 000
∑f 552

K161 231.88

ii) The modal value per order K150 since it has the highest frequency.

b)
x f fx x2 f
0 23 0 0
1 14 14 14
2 3 6 12
3 2 6 18
4 or more 0 0 0

∑f = 42 ∑ xf = 26 ∑x 2
f = 44

i) Mean =
∑ xf =
26
= 0.619
∑f 42

ii)
(∑ xf ) 2

∑x f −
2

σ2 = ∑f
∑f

44 −
(26)2
= 42
42

27.9047619
=
42

= 0.664

iii) σ = 0.6644 = 0.8151

392
c)
x f xf x2 f
4-5 4.5 3 13.5 60.75
5- 6 5.5 7 38.5 211.75
6.7 6.5 2 13.0 84.50
7- 8 7.5 4 30.0 225.0
8- 9 8.5 6 51.0 435.5
9- 10 9.5 10 95.0 902.5
10 - 11 10.5 8 84.0 882.0
11- 12 11.5 4 46.0 529.0
12- 13 12.5 0 0 0
13 – 14 13.5 8 108 1458.0

∑f = 52 ∑ xf = 479 ∑x 2
f = 4787

i) Arithmetic mean = x =
∑ xf =
479
= 9.212
∑f 52
ii) Modal sales = 9.5

iii) Standard deviation

(∑ fx ) 2

∑x f − f
2
4787 −
(479) 2
=
∑ = 52
∑ f −1 51

S = 7.34653092

= 2.71

(mean − median)
iv) SK = 3
S

(9.212 − 9.5)
=3
2.71

≅ 0.106

393
 CHAPTER 4

Exercise 1

1. a) 0.14 b) 0.06 c) 0.30

2. a) 0.16 b) 0.58 c) 0.3913
d) not independent

1 1
3. 4.
221 12

5. a) 0.2975 b) 0.2479 c) 0.4959

d) 0.5041

6. a) 0.2097 b) 0.0000128

7. a) 0.0498 b) 0.5882 c) 0.36199

Exercise 2

1. i) a 5 + 5a 4b + 10a 3b 2 + 10a 2b3 + 5ab 4 + b 5

ii) a 7 − 7 a 6 + 21a 5b 2 − 35a 4b3 + 35a 3b 4 − 21a 2b5 + 7 ab 6 − b 7
iii) 81a 4 − 180a 3b + 1350a 2b 2 − 1500ab3 + 625b 4
iv) 32 s 5 − 80 s 4t + 80 s 3t − 40 s 2t 3 + 10 st 4 − t
v) 64 x18 − 192 x15 y 2 + 240 x12 y 4 − 160 x 9 y 6 + 60 x 6 y 8 − 12 x 3 y10 + y12 .

2. i) 32c 5 + 240c 4 d + 720c 3d 2 + 1080c 2 d 3 + 810cd 4 + 243d 5

ii) 256r 4 + 1280r 3 s + 2400r 2 s 2 + 2000rs 3 + 625s 4
iii) 1 − 3x + 3 x 2 − x3
iv) 3125a 5 + 6250a 4b 3 + 5000a 3b 6 + 2000a 2b9 + 80ab12 + 32b15
81 54 3
v) 4
+ + 27c 2 + 9c 5 + c8
c c 2

3. a) 0.0467 b) 0.31104 c) 0.8208 d) 0.4557

e) 0.13824 f) 0.95904

4. a) 0.0302 b) 0.3209 c) 0.1359 d) 0.6791

5. a) 0.6983 b) 0.2573 c) 0.0444 d) 0.3017

6. a) 0.0000759 b) 0.9999

7. a) 0.4219 b) 0.0469 c) 0.9961

394
8. P(0) = 0.178, P(1) = 0.356, P(2) = 0.2966, P(3)=0.1318
P(4) = 0.033, P(5) = 0.0044, P(6) = 0.0002

9. 0.9991 10) 0.1404

11. a) 0.0821 b) 0.9179 c) 0.2566 d) 0.1336

12. 0.9972

Exercise 3

1. a) 0.3085 b) 0.4602 c) 0.6179 d) 0.1859

e) 0.44

2. a) i) 0.2946 ii) 0.3859 iii) 0.346

b) 55 ± 46.2

3. i) 0.0869 ii) 0.5299

4. 0.1711 5) a) 0.9738 b) 0.509 c) 0.2879

6. a) 0.492 b) 0.1685

7. a) 0.9969 b) 65.23 c) 0.6597 d) 67.1675

EXAMINATION QUESTIONS

Multiple Choice Questions (Section 1)

1.1 A 1.2 C 1.3 A 1.4 A 1.5 A 1.6 C

1.7 C 1.8 B 1.9 A 1.10 A

Multiple Choice Questions (Section 2)

1.1 B 1.2 C 1.3 A 1.4 B 1.5 C 1.6 A

1.7 A 1.8 B 1.9 C 1.10 C 1.11 D 1.12 A

395
 SECTION B (1)

Solution One

a) µ = 150, σ ≅ 100

Let X be the normal random variable standing for the number of items

170 − 150)
P ( X > 170) = P ( Z <
10
= P ( Z < 2)
= 0.5 + 4772
= 0.9772

b) EV = nP (assuming the distribution follows a binomial distribution). The number

of defectives is 0.02(400) = 80 defectives.

c) i) In a permutation there is attention give to the order of arrangement. In a

combination there is no attention given to the order of arrangement.

n!
ii) n
Cx =
(n − x)! x!

7!
7C5 =
(7 − 5)!5!
7(6)5!
=
2!5!
= 21 ways

396
Solution Two

a) Let X be the duration (days) required to shift operations completely from Mongu
to Lusaka.

Then X is approximately normally distributed with mean 300 days and standard
deviation 9 days.
 280 − 300 
i) P ( X < 280) = P Z < 
 9 
=P ( Z < −2.22)
= 0.014

 310 − 300 
ii) P ( X > 310) = P Z > 
 9 
=P ( Z > 1.11)
= 0.134

 280 − 300 310 − 300 

iii) P (280 < X < 310) = P <Z< 
 9 9 
=P (−2.22 < Z <1.11)
= 0.853

b) i) Let X = number of orders rejected.

X is poisson with λ = 4 orders
45 e −4
P ( X = 5) =
5!
= 0.156
≅ 0.16

ii) X is binomial with n = 8 orders

P = 0 .3
P (at least 3 rejected ) = P ( X ≥ 3)
= 1 − [P ( X = 0) +P ( X = 1)+P ( X = 2)]
= 1 − (0.0576 + 0.1976 + 0.2965)
= 0.4483
≅ 0.45

397
c) This is a binomial question and we let P be the probability that the drug is
effective, i.e. P = 0.55, q = 0.45 and n = 6. And x the number of patients.

 6  6
i) P ( x ≥ 5) =   (0.55) 5 (0.45) +   (0.55)6
 5  6
= 0.1359 + 0.02768
= 0.16358
 6
ii) P ( x = 0) =   (0.45)
 0
= 0.45

 6  6
iii) P ( x = 1 or 3 =   (0.55) (0.45) 5 +   (0.55)3 (.45)3
1  3
= 0.06105 + 0.30318

= 0.3642

Solution Three

 7.985 − 8 8.035 − 8 
a) i) P <Z< 
 0.02 0.02 
P (−0.75 < Z < 1.75)
0.2734 + 0.4599
= 0.7333

Therefore probability = 1− 0.7334

= 0.2667.

ii) 50% area under the normal curve minus 2% = 48% = 0.48 the Z value is
2.05

X −µ 8.035 − µ
Z= , i.e. 2.05 =
σ 0.02

Therefore, mean = 8.035 – 2.05 (0.02)

= 7.994

398
b)
Defective 0.03 0.05 0.08
Non Defective 0.52 0.40 0.92
.55 .45 1.00

P( D / A) P( A)
P( A / D) =
P( D / A) P ( A) + P( D / B) P( B)

(0.03)(.55)
=
0.03(.55) + (0.05)(.45)

0.0165
=
0.0165 + 0.0225

0.0165
=
0.039

= 0.423

c) Let X be the number of rejects. Assuming X is a binomial r.v where

P = 0.08, q = 0.2 and n = 10.

P ( X ≤ 2) = P ( X = 0) + P ( X = 1)+P ( X = 2)
= C0 (0.8)0 (0.2)10 + 10C1 (0.8)1 (0.2)9 +10C2 (0.8) 2 (0.2)8
10

= 0.434 + 0.378 + 0.148

= 0.960

399
Solution Four

a) This is a binomial distribution problem where P = 0.4, q = 0.6, n = 5. . Let X

be a binomial r.v Then

i) P (0)=5C0 (0.4)0 (0.6)5 = 0.07776

ii) P ( X ≥ 1) = 1 − P (none) = 1 − 0.07776 = 0.92224

iii) P ( X ≤ 2)=P ( X = 0) + P ( X = 1) + P ( X = 2)
= 5C0 (0.4)0 (0.6)5 + 5C1 (0.4)1 (0.6) 4 + 5C2 (0.4) 2 (0.6)3
= 0.07776 + 0.2592 + 0.3456
= 0.68256

b) µ = 190, σ = 20
Let X be a normal r.V with

 160 − 190 
i) P ( X < 160) = P Z < 
 20 
= P ( Z < −1.5)
= 0.5000 − 0.4332
= 0.0668

-1.5

 210 − 190 
ii) P ( X > 210) =P Z > 
 20 

= P ( Z > 1)
= 0.5 − 0.3413
= 0.1587

400
 1

The required number of journeys = 150 (0.1587)

= 23.805 ≅ 24

iii) 3 hours 35 minutes is 180 × 3 + 35 = 215 minutes. Hence

 215 − 190 
P ( X < 215 = P Z < 
 20 
= P ( Z < 1.25)
= .5 + .3944
= 0.8944

The true percentage figure is 89.44%

1.25

The required number of journeys = 150 (0.1587)

λx e − λ
c) P(r ) =
r!

1.20 e −1.2
P ( 0) = = 0.3012
0!

1.21 e −1.2
P (1) = = 1.2(0.3012) = 0.3614
1!

1.2 2 e −1.2
P (2) = = 0.72(0.3012) = 0.2169
2!

401
 1.23 e −1.2
P (3) = = 0.288(0.3012) = 0.0867
3!

1.2 4 e −1.2
P (4) = = 0.0864(0.3012) = 0.0260
4!

1.25 e −1.2
P (5) = = 0.020736(0.3012) = 0.0062
5!

1.26 e −1.2
P ( 6) = = 0.0041472(0.3012) = 0.0012
6!

1.27 e −1.2
P (7 ) = = (0.0007109)(0.3012) = 0.0002
7!

Solution Five

a) Using a tree diagram, where D stands for defective and G not defective

P(D) = 0.05 0.45(0.05) = 0.0225

P(Old) = 0.45 P(G) = 0.95

0.45(0.95) = 0.4275

New P(D) = 0.03 0.55(0.03) = 0.0165

P (New) = 0.55

0.5335
P(G) = 0.97 0.55(0.97) =
1.0000
Figure 1.0

402
 Therefore, from Figure 1.0;

P ( D ) = 0..0225 + 0.0165 = 0.039

P (old ∩ D ) 0.0225
P (old / D ) = = = 0.5769.
P( D) 0.039

b) This is a normal distribution problem with µ = 18 and σ = 6.45. Let X be a

normal r.v, then ;

 22 − 18 
i) P ( X ≥ 22) = P Z ≥  = P ( Z > 0.62) = 0.2676
 6.45 

 24 − 18 
ii) P ( X ≤ 24) = P Z ≤  = P ( Z ≤ 0.93) = 0.5 + 0.2238 = 0.7238
 6.45 

1 3
c) This is a binomial distribution problem with n = 8, P=
and q = . Let X
4 4
be a binomial random variable i.e. standing for the number of errors.

i) P ( X > 2) = 1 − P ( X ≤ 2)

= 1 − [P ( X = 0)+P ( X = 1) + P ( X = 2)]

 8  1 0  3 8 8  1 1  3 7 8  1  2  3 6 
= 1 −  C0     + C1     + C2     
  4   4   4  4  4   4  

= [0.1001 + 0.267 + 0.3115]

= 0.3214

ii) P ( X < 2) = P ( X = 0) + P ( X = 1)

= 0.1001 + 0.267

= 0.3671

403
Solution Six

a) 10R
9
5W P( R) =
14
90
P ( RR ) =
210

10 5
P( R) = P (W ) =
15 14

50
P ( RW ) =
210

10 50
P( R) = P (WR ) =
14 210
5
P (W ) =
15

4 20
P (W ) = P (WW ) =
14 210

50 50 100 10
The required probability is P ( RW )+ P (WR )= + = =
210 210 210 21

b) P = 0.02, n = 140. n is large and P is small. We use the Poisson distribution

with λ = np = 0.02(140) = 2.8.

λx e − λ
P ( X = x) = , where x = 0,1,2,... where x is a Poisson r.v.
x!

(2.8) 2 e −2.8
i) P ( X = 2) = = 0.2384
2!

404
 ii) P ( X < 2) = P ( X = 0) + P ( X = 1)

(2.8)0 e −2.8 (2.8)e −2.8

= +
0! 1!
= 0.0608 + 0.1703
= 0.2311

c) i) x=
∑ xf =
0 + 18 + 70 + 141 + 188 + 190 + 150 +98+ 56+ 27 + 10 + 11
∑f 240

959
=
240

≅4

λx e − λ
ii) P( X = x) = , where x = 0, 1, 2...
x!
4 e −4
P ( 0) = = 0.0183
0!
4e −4
P (1) = = 4(0.0183) = 0.0732
1!
4 2 e −4
P ( 2) = = 2(0.0183) = 0.0366
2!
43 e −4
P (3) = = 0.1952
3!
4 4 e −4
P ( 4) = = 0.3904
4!
4 5 e −4
P (5) = = 0.1562
5!
4 6 e −4
P ( 6) = = 0.1042
6!

4 7 e −4
P ( 7) = = 0.0595
7!

48 e −4
P (8) = = 0.0297
8!

405
 49 e −4
P (9) = = 0.0132
9!

410 e −4
P (10) = = 0.0053
10!

411 e −4
P (11) = = 0.0192
11!

Exercise 4

1. K492,299.43 to K507,700.57

2. 91.31 to 96.69

3. 0.42 to 0.62

4. (a) 0.0358, 00358 (b) 0.108 to 0.292 (c) 0.128 to 0.272

5. n = 280

6. n = 267

7. 106.57 to 133.43

8. 214.37 to 249.63

Exercise 5

1. Z c = −0.2; Accept H 0 2. Z c = 2.44; Re ject H 0

3. Z c = 3.81; Re ject H 0 4. tc = 0.5199; Accept H 0

5. tc = 2.301; Re ject H o 6. Z c = −1.37; Accept H o

7. tc = −0.6097; Accept H o

406
Exercise 6

1. Z c = −2.25; Re ject H o 2 Z c = 3.699; Re ject H o

3. Z c = −25.116; Re ject H o 4. Z c = −2.45; Re ject H o

5. Z c = 2.04; Re ject H o

EXAMINATION QUESTION WITH ANSWERS

Multiple Choice Questions

1.1 D 1.2 A 1.3 C 1.4 B 1.5 B

1.6 B 1.7 B 1.8 A 1.9 B 1.10 C

SECTION B

Solution One

a) H o : µ = 25,000; H 2 : µ > 25,00

b) H o : µ = 1800, H 2 : µ > 1800 (one − tailed test )

X = 1850, µ = 1800, σ = 100 and n = 50

σ 100
Standard error, s.e of x = =
n 150

The test statistic, Z =

(X − µ ) = 1850 − 1800 = 3.54
σX 100
50
Z c = 3.54 > 2.33.

Hence, we reject the null hypothesis at 1% or 0.01 level of significance and

conclude that the claim is justified.

407
c) Null hypothesis: H o ‘the trial has not produced stronger struts’.

1310 − 1250
The test statistic: Z= = 1.62
185
25

We use a one tailed test since we are only interested in improved results. Z is not
significant at the 5% level. Thus, the statistical evidence as has been produced is
not convincing enough that the new material is producing stronger struts.

Solution Two

a) A point estimate is a single number which estimates a population parameter e.g.,

the sample mean may be used as a point estimate of the population mean. While
an interval estimate is a range within which we can be confident at a given level
of probability that the value of the population parameter lies. Example, the
average height of a male NATech student is 1.76m is a point estimate while the
average height of a male NATech student lies between 1.5 to 2.1 metres is an
interval estimate.

b) i) Let π = population proportion of students who knew the intitute’s

programmes through ZACB hour

185
P = sample proportion = 0.37
500

n = sample size (500 )

95% confidence interval is given by

(0.37 − 1.96 )
 0.37(0.63) 0.37(0.63) 
 0.37 − 1.96 ,0.37 + 1.96 
 500 500 
 
(0.37 − 1.96(0.02159),0.37 + 1.96(0.02159)
(0.328, 0.412)

There is a 95% probability that the population proportion of students who

come to know about the institute’s programmes lies between 3.2% and
41.2%

408
 ii) Sample Size

Z α2 Pq
n= 2

d2

n=
(1.96 ) (0.37 )(0.63)
2

(0.01)2
n = 8954.7696
≅ 8955 students

Solution Three

a) i) n = 100, X = 168.75 and σ X = 7.5cm

The 99% confidence interval is given by

σx
X ± ZZ
2 n

168.75 ± 2.58
(7.5)
100
168.75 ± 1.935

(166.815, 170.685). There is a 99% probability that the mean height of all
students is between 166.8 and 170.7cm.

α 0.05
ii ) σ = 0.05, error = d < 0.01, 1 − α = 0.95, = = 0.025
2 2
Z σ = Z.005 = 1.95
2

Zασ
d> Z

n
0.01 >
(1.96) (0.05)
n

n>
(1.96) (0.05)
0.01
 (1.96 )(0.05) 
2

n> 
 0.01 
n > 96.04
n ≅ 97.

409
b) n = 10, X = 4.38mm, σ X = 0.06mm

1 − α = 0.99 t0.005,9 = 3.25

σX
X ± tα
, n −1 n
2

0.06
4.38 ± 3.25
10
3.25(0.06 )
4.38 ±
3.16
4.38 ± 0.06
(4.32, 4.44)

c) Mean = µ = 49,500, n = 7, X = 49,000 and s = 4500. α = 1%

H o : µ = 42,000
H a : µ > 42,000 t0.01, 6 = 3.143

X − µ 49,500 − 42,000 7500

tc = = = = 4.41
s 4500 1700.84
n 7

Reject H o if tc > 3.143. Therefore, we reject H o since 4.41 > 3.143. We can
conclude that there has been a significant increase in the weekly turnover.

d) H o : µ = K1,032,000
H a : µ ≠ K1,032,000

Reject H o if tc > t0.005,5 = 4.032 or tc < −t0.005,5 = −4.032.

n = 6, ∑x 2
= 1.22223226 × 1013 , ∑ x = 6971400
x = 1161900, = 907992.6145
X − µ 1161900 − 1032000 129900
tc = = = = 0.35
S 907992.61 370686.4308
n 6

410
 Accept H o and conclude that there is sufficient evidence to say that the mean
bank balance is K1,032,000.

Solution Four

a) i) The confidence limits are given by

σ
x ± Zα
2 n

The error must not exceed 20 kilometres, thus

130
20 > 1.48
n
1.48(130 )
n>
20
n > (9.62 )
2

n > 92.544
n > 93

ii) If n, the sample size, is too large it can be reduced by either increasing the
allowed error or decreasing the confidence interval or both.

b) i) You wish to detect a situation leading to a loss when it occurs. Thus, we

want to detect when µ < 3.0. So that the null and alternative hypotheses
are:

H o : µ = 3.0; H1 : µ < 3.0

ii) You wish to detect a situation leading to a profit when it occurs. Thus, the
null and alternative hypotheses are:

H o : µ = 3.0; H1 : µ > 3.0

c) Matched pairs

Ho : µ A − µB = 0
Ha : µ A − µB < 0

Where µ B and µ A are the average scores before and after the course
respectively. Hence we compute the differences.

411
 Student d d
1 -26 676
2 -6 36
3 0 0
4 16 256
5 1 1
6 -22 484
7 -26 676
8 1 1
9 2 4
10 15 225
11 9 81
∑ d = −32 ∑ d = 2440
2

Solution Five

a) i) The company wishes to determine whether absenteeism has declined and

they want to detect the decline if it has occurred. Hence, we have

H o : µ = 98
H1 : µ < 98

ii) In this situation, you would be more interested in whether or not your sales
are leading to a financial disaster, and if it is true, you want to detect that.
Hence, the hypotheses are:

H o : µ = 20
H1 : µ < 20

iii) Since, the process is out of control if and only if the mean diameter of the
machine bearings is different from 1.27cm, the hypotheses are:

H o : µ = 1.27
H1 : µ ≠ 1.27

412
 d=
∑d =
− 32
= −2.91
n 11
(∑ d ) 2
(− 32)2
∑d − n
2
2440 −
11
Sd = =
n −1 10
= 15.32
d − 2.91
tc = = = −0.62999
Sd 15.32
n 11

Reject H o if tc < −t0.05,10 = −1.895. Since –0.62999 is greater than –1.895, we

accept H o . There is no sufficient evidence at the 5% level of significance to
conclude that the course has produced some learning.

Solution Six

a) The sample proportion is given by

Number of successes in sample x 1600

= = = 0.80
Number sampled n 2000

80% of the population favour more strict measures.

b) The null hypothesis, H o : µ = 200

The alternative hypothesis, H a : µ ≠ 200

This is a two-tailed test.

X −µ 203.5 − 200 3.5

Zc = = = = 2.19
σ 16 1 .6
n 100
Reject H o if Z o > Z 0.005 = 2.58 or Z c < −2.58. Hence accept H o

413
 H o : µ = 5 .6
c)
H a : µ ≠ 5 .6

Reject H o if Z c > 1.65 or Z c < −1.65

x−µ 5 − 5 .6
Zc = = = −2.35
σ 1 .4
n 30

Since Z c = −2.35 < −1.65, we regret H o . Hence there is a significant

improvement.

Exercise 7

a)
y

16

14

12

10

8 •
•
6 •
•
4 •
•
2 •

0
x
1 2 3 4 5 6 7 8 9 10 11 12 14 16

414
b) y

10

5 •

2 •

2 6 8 10 12 14 16 18 20 22 24 26 x

c)
x y x y
2 2 10 6
5 3 11 8
6 4 13 9
8 5 16 10
14 14 50 33
Total means x = 3.5 y = 3 .5 x = 12.5 y = 8.25

415
 y

10
9 •
8
7
6
5
4
3 •
2
1
1 2 3 4 5 6 7 8 9 10 12 13 x

2.
a)
Sales

14

12 •
•
10 • •
•
8 •

100 200 300 400 Advertising expenditure

416
 b)

x (Advertising expenditure) y (Sales)

K’000s K’ms
230
280
310
350
400
430
∑ x = 2000 , ∑ y = 65.7
∑ x = 694800
2
, ∑ y = 722.43
2

∑ xy = 22093 , n=6
^ ^
y = 530 , y = 12.30 i.e K 12,300,000

^
3. y = 0.238 + 0.714 x

4.
a)

Communication
(y)

100
•
•
•
75 •
• •
• •

50

25

(x)
25 50 75 100 Mathematics

417
 ^
b) y = 13.16 + 0.696 x
^
Where x is mathematics and y = Communication.

^
c) y = 13.16 + 0.696(85) = 72.32 ≅ 72

65 = 13.16 + 0.696 x
d)
x = 74.48 ≅ 75.

5. a)

16
•
14 •
•
•
Birth 12 •
Rate •
10 •

1999 2000 2001 2002 2003 2004 2005

Year

418
 b)

Year ( x ) Code Birth Rate ( y )

1999 1 14.6
2000 2 14.5
2001 3 13.8
2002 4 13.4
2003 5 13.6
2004 6 12.8
2005 7 12.6
∑ x = 28 ∑ y = 225.8
∑x 2
= 140 ∑ xy = n=7
∑y 2
= 22115.72
^
y = 70.914 − 9.664 x

y = 70.914 − 9.664(11) = −35.39

^
c) x = 11,

Exercise 8

1. a) r = 1 b) r = −1 c) r = 0.055

2. r = 0.987 3. r = 0.714

4. a) r = 0.754 b) r = 0.741

5. r = 0.227. The coefficient of correlation is too low to be a reasonable

indictor for the price of company’s share.

419
 EXAMINATION QUESTIONS WITH ANSWERS.

Multiple Choice Questions

1.1 D 1.2 A 1.3 C 1.4 C 1.5 A 1.6 A

1.7 B 1.8 D 1.9 B 1.10 C

SECTION B

Solution One

a) The product moment correlation coefficient is given by

n∑ xy − ∑ x∑ y
r=
[n∑ y 2
][
− (∑ y ) n∑ x 2 − (∑ x )
2 2
]
Where

n = 11, ∑ xy = 13467 ∑ x = 440 ∑ y = 330 ∑ x 2

= 17986 ∑y 2
= 10366, n = 11

11(13467 ) − 440(330 )
r= = 0.63
[11(10366) − (330) ] [11(117986) − (440) ]
2 2

b)
∑x = 3 ∑ y = 380
∑ x = 1 .1
2
∑ y = 17548
2

n = 10 ∑ xy = 137.4
The required equation is

^
y = 2.9 + 117 x.

420
c) Note: Profits depend on the amount spent on advertising therefore it is the
dependent variable X . Advertising expenditure is the independent variable X .

i) A scatter diagram is used to show that there is a relationship between two

variables.

Another method is to find the product moment correlation coefficient r.

n ∑ xy − ∑ x∑ y
r=
[n∑ y 2
− (∑ y )
2
] [n∑ x 2
− (∑ x )
2
]
n = 6, ∑y 2
= 1142.87, ∑ y = 82.3, ∑ x 2
= 2.5819,
∑ x = 3.91, ∑ xy = 54.278
6(54.278) − (82.3) (3.91)
r=
[6(1142.87) − (82.3) ] [6(2.5819) − (3.91) ]
2 2

= 0.938, a very high deg ree of correlation.

^
ii) y = 1.296 + 19.061x

K800,000 is taken to be x = 0.8

∴ y = 1.296 + 19.06(0.8) = 16.5448
^

^
y = K16,544,800.

421
Solution Two

a) i) Regression coefficient is the number which quantities the relationship

between the dependant variable and explanatory variable, e.g., in the
simple linear regression model,

y = a + bx;

a and b are the regression coefficients. b is the slope which indicates the
amount by which y changes for a given unit change in the value of x and
a is the intercept which indicates the value of y when x = 0.

ii) The explanatory/independent variable is the variable in regression model

assumed to cause the dependent variable to change. I.e., in the model
y = a + bx, the explanatory variable is x.

b) Let y = imports and x = prices. Then

i) ∑ x = 2699, ∑ y = 1322, ∑ xy = 2995372, ∑x 2

= 608580.

y = 398.06 − 1.28 x

When x = 250, y = 398.06 − 1.28(250) = 78.06

Total imports – 78,060 tonnes

ii) A correlation coefficient of –0.95 implies a strong negative linear

relationship between price and imports. The higher the price of apples, the
less the number of apples bought.

Solution Three

a)
x y log10 x log10 y
18 62 1.16 1.79
27 48 1.43 1.68
36 37 1.56 1.57
45 31 1.65 1.49
54 27 1.37 1.43
72 22 11.86 1.34
90 18 1.95 1.26

422
b) Let x = log10 x and y = log10 y

∑ x = 11&.44 ∑ y = 10.56 ∑ x 2
= 19.0436 ∑y 2
= 16.1396 ∑ xy = 16.989
B = −0.775 and A = 2.775
A is the log of a, so
log10 a = 2.775

a = 10 2.775
= 595 662 143.50
y = 595 662 143.50 x −0.775

c) If x = 64 800 000, then

y = 595 662 143.50(64 800 000) −0.775
x = 526.05% to 2 decimal places.

Solution Four

a) i) Let 2000 to 2004 be years 0 to 4

x y xy x2 y2
0 20 0 0 400
1 18 18 1 324
2 15 30 4 225
3 14 42 9 196
4 11 44 16 121
∑ x = 10 ∑ y = 78 ∑ xy = 134 ∑ x = 30 ∑ y = 1266
2

n=5

n∑ xy − ∑ x ∑ y
r=
[n∑ x 2
][
− (∑ x ) n∑ y 2 − (∑ y )
2 2
]
5(134) − 10(78)
=
[5(30) − (10) ][5(1266) − (7) ]
2 2

= −0.992

423
 ii) There is an extremely strong negative correlation between the year of sale
and units sold. The value of r is close to –1, therefore a high degree of
correlation exists. This means that there is a clear downward trend in
sales.

iii) Since r = −0.992, then r 2 = 0.98. That is 98% of the changes in sales can
be explained by the charge in the number of years. 2% of the changes are
unexplained.

b) i) yˆ = 20 − 2.2 x. Sales for 2005 implies x = 5. Therefore

y = 20 − 2.2(5) = 9, i.e. 9000 units.

6∑ d 2
ii) r = 1−
n(n 2 − 1)
6(72.50)
r = 1− = 0.7465
12(144 − 1)

c) i) Using the product moment coefficient of correlation.

∑ x = 78, ∑ y = 11.18, ∑x 2
= 1018.5, ∑y 2
= 20.8378,

∑ xy = 145.49
r = 0.9339.
ii)

x y xr yr d d2
14.0 1.90 1.5 2 -0.5 0.25
14.0 1.91 1.5 1 0.5 0.25
13.5 1.86 3 3 0 0
12.5 1.84 4 4.5 -0.5 0.25
12.0 1.84 5.5 1 1 1
12.0 1.83 5.5 -0.5 -0.5 0.25
∑d2 = 2

424
 6∑ d 2 6( 2)
rs = 1 − = 1− = 0.9429.
n(n − 1)
2
6(36 − 1)

y = 595 662 143.50 x − 0.775

Solution Five

Let TC = Total cost and Q = Units produced.

a) TC = 444.44 + 14.07Q
TC is in thousands

b) When Q = 0, TC = fixed costs = loss of K444, 444.44.

n∑ xy − ∑ x ∑ y
r=
[n∑ y ][ ]
c)
− (∑ y ) n ∑ x 2 − (∑ x )
2 2 2

where ∑ xy = 187000, ∑ x = 420

∑x 2
= 26 550 ∑ y = 2800

∑ xy = 187 000.
Thus, we would expect about 19 defective surgical needles in a box inspected by
a worker with 6 weeks worth of experience.

Solution Six

a) ii) ∑ x = 72, ∑ y = 128, ∑ x 2

= 732,∑ y 2 = 2156,∑ xy = 1069.

r = −87.1. There is a strong negative linear relationship between the of

weeks experience and number of rejections.

iii) yˆ = 24.892 − 0.988 x

yˆ1 = 24.892 − 0.988(1) = 23.904

425
b) i) Correlation is to do with the strength of the relationship between two or
more quantities such that a change in one of the quantities is accompanied
by a predictable charge in the other. Regression is to do with describing
mathematically the relationship between two or more quantities.

6∑ d 2 6(12 )
r = 1− =1 = 0.86
ii)
(
n n −1
2
) 8(64 − 1)

There is a strong, positive linear correlation between writing and reading ranks.

c) ∑ x = 36, ∑ y = 5088, ∑ x 2
= 204, ∑ xy = 24895

The required equation of regression is y = −327.80 + 47.60 x.

Solution Seven

6(10)
a) i) r = 1− = 0.822
7(99 − 1)

ii) A value of 0.822 indicates a strong positive correlation. Generally, with

an increase in quality, the price goes up.

b) The required regression line is y = 63.94 − 65.20 x.

Solution Eight

a) Using the formula

n ∑ xy − ∑ x∑ y
r=
[n∑ y 2
][
− (∑ y ) 2 n ∑ x 2 − (∑ x )
2
]
8(1069) − 72(128)
r=
[8(732) − (72) ][8(2156) − (128) ]
2 2

− 664
=
(672)(864)
= 0.8714

There is a strong negative linear relationship between the number of defectives

and the number of weeks worth of experience.

b) The required least squares equation is y = 24.89 − 0.988 x.

c) x = 6 in the model in (c), we have y = 24.89 − 0.988(6) = 18.962.

426
 A D
ALGEBRA, 20 Decision variables, 331
Amortization, 289, 290, 291 Decomposition Analysis 226
Annual percentage rate, 271 Derivative, 353, 357, 360
Annual Return 293 Derivatives Functions, 355
Annuity 275 Deviations, 232
Appraisal Techniques 275 DIFFERENTIAL CALCULUS, 350
Arithmetic Series, 220 Differential coefficient, 366
Arithmetical, 3 Differentiation, 354
average 59, 60, 61, 77 Direct Proportion, 6
Discrete, 49, 56
B Distribution of Sample Means, 161
Bar Charts, 50, 53
Basic Linear Programming, 334 E
binding constraint, 334
Binomial Distribution, 117, 143 Effective Rates, 269
binomial expansion, 119 elementary calculus, 354
Binomial Expansion, 122 equations, 25, 28
Binomial Theorem, 119, equilibrium price, 38, 44
Business Decision Making 302 Exponents, 21,
Business Mathematics Techniques,302 Extrapolation, 205

C F
Calculus 350 Finite Population Correction Factor,
Central Tendency, 58 164
Chain Index, 250, 259 Foreign Currency Conversion, 10
Changing Units, 14 Frequency, 46
Changing units within the Metric frequency distribution, 48,
System, 13 frequency probability, 101
Cluster Sampling 158
Coefficient of Determination, 205 G
Coefficient of Variation 81 Geometric Series, 222
Combination, 98 Grouped Data, 61
Compound Interest, 259 Grouped Distribution, 48
Conditional, 28, 106, 113
Conditional equation, 28 H
Confidence Intervals, 162
Continuous scale, 49 Histogram, 53,57,66
Correlation, 194, Hypothesis Testing, 170, 177, 180
Correlation Analysis, 194,202
Cumulative frequency, 48, 65, 390 I
Cumulative frequency distribution, Identity, 28
48, 65, 74 Index Number, 251
Integration, 354, 365

427
Internal Rate Of Return, 271
interquartile, 74, 75, 85
intersection,, 42
Inverse, 308
Inverse Proportion, 8
Investment Appraisal, 270
irrational numbers, 1, 2, 3
L Price and Quantity Indices, 251
Laspeyres Indices, 251
Least Square 197
limitations, 335
Logarithms, 23
Logs, 24
lower quartile, 74, 85
Linear Programming 331
M Quadratic Functions, 355
Marginal Revenue, 358
Market Equilibrium, 38, 39
Matrices, 302, 307
Matrix Algebra, 302,
Maximum Revenue, 40
Mean, 128
Mean deviation, 76
Mean Deviation, 77
median, 59, 60
Median 64,
mode, 59, 60,
N Regression Equation 194,
Net Terminal Value, 262
Nominal, 267
Non Probability Samples 159
Normal Approximations 139
Normal Curve, 131
Normal Distribution, 134, 143
Normal tables, 135, 136, 137
numerical, 162
P Series, 220
Paasche Indices, 251
paasche price index, 258
Pascal’s Triangle, 118
Perimeter, 19
428
Permutations, 98, 100
Permutations and Combinations, 96
Permutations with Similar items 97
Perpetuities, 285
Pie Charts, 54
Poison Distribution 125
Population, 46
Present Values, 267
Primary data, 45
Probability, 96
Probability Distribution 111
Probability Samples, 157
Proportions 4
Q
Quadratic Equations, 29
Quantitative data, 56
Quartile 75, 76
Quartile Deviation 72
Quota Sampling 159
R
Random Experiments, 105
Random sample,157
Range, 73, 85, 86
Ratio, 4
Rational numbers 1,2,3
Real Numbers, 1,3
Risk 100
S
Sample, 46
Sampling, 156
Seasonal Variation, 230, 249
Secondary data., 45
Sequence of Arithmetic Operations 3
Simple Function, 356
Simple Functions, 354
Simple Index Numbers, 245
Simple Indices, 245
Simple Interest, 257
Simple Random Sample, 157
Simultaneous Equations, 314,30
Sinking fund 289
Spearman's Rank Correlation
Coefficient 206
Standard Deviation, 80, 86, 95
Standard error 163
Statistical Inferences, 160
Statistics, 45,
subjective probability, 104
subset, 105

Temperature, 18
Terminal Values 261
The Celsius Degree, 13
The Gram, 13
Time Series, 225

U
upper quartile, 73, 83

V
variance, 114, 148, 150

W
Weighted Averages, 67
Weights 12

429
370