P = 17 0.02q 0.05q+10 =17-0.02q 0.07q = 7 q = 100 The equilibrium price is
(d) Let a and d be the first term and common difference respectively. Then: 2nd term = a+d and 5th term = a+4d Since 2nd term exceeds the 5th term by 18. Then (a+d) (a+4d) =18 3d =18 d= 6
2. (a) = = =
(b) n(R) = 6 n(B) = 4
(c)
(i) (ii) becomes +
OR 2
3. (a) Quantitative variable is a characteristic or behaviour that can be
(b) Qualitative variable is a characteristic or behaviour that assumes
nonnumeric values or can be classified into nonnumeric categories. Examples: Colour, gender, make of car, job designation.
(c) A statistic is a summary measure that describes a specific
characteristic of a sample, and it is obtained using sample data. Examples: Sample mean, standard deviation, proportion,
(d) A parameter is a summary measure that describes a specific
characteristic of a population and is computed using population data. Examples: Population mean, µ, standard deviation, σ, proportion, π.
4. (a)
(i) P = K30,000 r= n = 4×12=48
(ii) Interest = 36,626.86 – 30,000.00
= K6, 626.86
(b) See pie chart attached:
Walking: = Bicycle = Car =
5. (a)
Age (Years) Frequency
≤ 30 5 ≤ 40 13 ≤ 50 28 ≤ 60 39 ≤ 70 44 ≤ 80 45
(b) Properties of a good questionnaire:
3
Attractive in appearance (questions spaced out and neatly
arranged). Order of questions in logical sequence. Questions worded simply and clearly, not ambiguous or vague, must be objective. Must have an introduction. Designed for easy tabulation.
Some properties to be accepted: e.g.
Must have clear instructions on how to ans wer questions The design of questionnaire should facilitate easy data capturing/entry. Must be presented in a language that respondents can easily understand.
6. (a) A depreciation rate of 20% equates to a negative rate of interest,
therefore
r = -20% = - 0.2
Given: P = K140,000, n = 5 A = P(1+r)n = 140,000 (1+(-0.2))5 = K45,875.20
(b) Students English Language (Rank) Mathematics (Rank) A 1 4 B 2 5 C 4 3 D 6 1 E 3 9 F 5 7 G 9 6 H 7 8 I 10 2 J 8 10 4
Comment: As the rank correlation is 0.018 we can say that
there is a very low positive correlation between the two rankings.
SECTION B ANSWER TWO QUESTIONS ONLY FROM THIS SECTION
7. (a) An adult can do of the job in one day. The child can do of the job in one day where x is the number of days the child can do the job. (1,1) If they work together, they can do of the work in one day.
x = 12 days
(b) Year Cash flow (K) Discount factor (20%) PV(K)
8. (a) Candidates should describe any one of the following:
- Trend – the long term underlying pattern or movement of the data.
- Seasonal factors – distinctive pattern to seasons. - Cyclical components – the wave- like movement caused by booms and slumps - Random components – refers to the impact of unpredictable natural factors such as weather, illness, etc.
9. (a) (i) A pilot survey is a preliminary piece of research conducted before
a complete survey to test the effectiveness of the research methodology and instruments. This should be completed before the final survey commences. The intention is to alert the researcher of any difficulties that were not anticipated at the survey proposal stage. Pilot surveys are undertaken after pre-tests.
(ii) Non-response is the failure to obtain information from a designated
individual for any reason (death, absence or refusal to reply).
(iv) A sampling frame is a complete list of elements of the population
with the property that every element has appropriate contact information. For example in an opinion poll, possible sampling frames include electoral register and telephone directory.
(v) In simple random sampling each element of the frame has an equal probability of selection. The frame is not subdivided or partitioned. Furthermore, any given pair of elements has the same chance of selection as any other such pair. This minimizes bias and simplifies analysis of results.
(vi) In quota sampling, the population is first segmented into mutually
exclusive subgroups, just as in stratified sampling. The judgement is used to select the subjects or units from each segmented based on a specified proportion. For example, an interviewer may be told to sample 200 females and 300 males between the age of 45 and 60.
(b) Personal interviews
Advantages
- Can be used to handle respondents who lack reading skills to answer a
questionnaire. - Are useful for clarifying complex topics - The interviewer can probe deeper into a response given by an interviewee 8
- Interviews produce a higher response rate.
- Interviewer can convince reluctant respondents
Disadvantages
- The interviewer can affect the data if he/she is not consistent
- It is very time consuming - It is not used for a large number of people (Expensive) - The interviewer may be biased and ask closed questions.
Postal questionnaire Advantages
- They can cover a lot of people hence increasing the sample size - They are highly targeted and also very affordable as the only cost is that of printing and distribution - Respondent would have more time to think and would be able to give more honest reply due to absence of the interviewer.
Disadvantages
- Very few people would be interested in filling out the questionnaire
mailed to them - The body language of the respondent cannot be observed as the respondent cannot be seen - Questions might be misunderstood.
