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FACULTY OF HEALTH AND APPLIED SCIENCES BBS112S Construct a 50% confidence interval for the standard deviation of the resting heart rates for students in this particular class

INSTRUCTIONS TO CANDIDATES
ANSWER ALL QUESTIONS

FACULTY OF HEALTH AND APPLIED SCIENCES

 

DEPARTMENT OF MATHEMATICS & STATISTICS

Basic Business Statistics 1B

BBS112S

 

Information and Instructions:

• Assignment should be submitted in PDF file only.

• All students in any assignment group are expected to participate fully.

• All students in the same assignment group will earn the same marks.

• After submitting the assignment, the group may be asked to defend the

submission before the course lecturer (or his nominated representative). The

lecturer may nominate any member of a group to defend the submission on behalf

of the group.

• Each group should have a minimum of 4 students and a maximum of 6 students.

• Please convert your assignment into a PDF file and upload it on Elearning.

• The submission should indicate the names and student numbers of the members

of the group and ONLY one student per group should upload the assignment.

TAKE NOTE:

This assignment is for Full-time and Part-time students ONLY.

1. Given that the resting heart rates of 25 students is given in the following table.

61 63 64 65 65 67 71 72 73 74

75 77 79 80 81 82 83 83 84 85

89 95 95

(a) Construct a 50% confidence interval for the standard deviation of the resting heart rates

for students in this particular class. [10]

(b) Given that the students heart rate of the unknown population variance is claimed to be

no different from 144. Test at 5% that data disagree with the claim. [9]

2. The average prices and quantities of fruits in a certain fixed market for the years 2015 and

2017 were as in the table below.

Fruit 2016 2017

Price/kg (NAD) Quantity (tons) Price/kg (NAD) Quantity (tons)

Orange 18 500 16 600

Banana 15 273 20 317

Strawberry 22 382 27 321

Mango 12 431 18 284

(a) Calculate price index for orange for 2017 with 2016 as base year and interpret it. [2]

(b) Use Paasche’s approach to calculate composite price index for these fruits for 2017 with

2016 as base year and interpret it. [5]

(c) Use Laspeyres’ approach to calculate composite quantity index for these fruits for 2017

with 2016 as base year and interpret it. [5]

3. Consider the following time series data.

Week Day Sales (NAD ‘000’)

1

Mon

Tue

Wed

Thu

Fri

2

4

7

5

4

2

Mon

Tue

Wed

Thu

Fri

7

11

12

10

8

3

Mon

Tue

Wed

Thu

Fri

12

14

15

18

11

(a) Calculate the 4-period moving average sales for these data. [5]

(b) Predict the sales on Friday of the 4th week using OLS trend line with sequentially

coded time, starting with 𝑥 = 3. [7]

(c) Predict the sales on Friday of the 5th week using OLS trend line with zero–sum

coded time. [7]

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