Subject: QUANTITATIVE TECHNIQUES IN BUSINESS (QTB)

Search 500 + past questions and counting.

PSAF – May 2018 – L2 – Q5 – The Budgeting Process in the Public Sector

Explains the concept of a national budget, surplus and deficit budget implications, and challenges in the implementation of national budgets in Nigeria.

Question

In government’s quest to optimally develop and efficiently manage available resources, national budgets are usually prepared to put economic development firmly on course.

Required:

a. Describe briefly a national budget. (3 Marks)

b. Explain briefly the implication of each of the following for the performance of the economy: i. A surplus budget ii. A deficit budget (4 Marks)

c. Explain FOUR problems to be encountered in the effective implementation of national budgets in Nigeria. (8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Budget Implementation, Deficit Budget, National Budget, Surplus Budget
Level: Level 2

Topic: Budgeting
Series: MAY 2018

QTB – Nov 2014 – L1 – SB – Q6 – Mathematics of Business Finance

Calculate the value of an investment with compound interest, the payoff amount for a loan with simple interest, and the additional interest for a loan with monthly payments and reduced interest rates.

Question

a. If N250,000 is invested in an account that earns 4% per year compound interest, what is the:
i. value of the investment after 5 years? (3 Marks)
ii. total interest earned? (2 Marks)

b. When it was apparent that your parents could not afford to finance your university education, you sought and obtained a 4-year loan of N250,000.00 from Education Bank Limited. The bank imposed a simple interest rate of 7½%.
i. How much do you need to pay off the bank now

(4 years after) that you are through with your study?

(7 Marks)
ii. If you decide to be paying N25,000 every month from now and the bank agreed to reduce the interest rate to 1% per month on the unpaid balance at the beginning of the month, how much additional total interest will be paid? (8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Compound Interest, Interest calculation, Loan Repayment, Simple Interest
Level: Level 1

Topic: Mathematics of Business Finance
Series: NOV 2014

QTB – Nov 2014 – L1 – SB – Q5b – Data Collection Analysis

Draw a frequency polygon and an ogive based on gasoline mileage data from an experiment.

Question

In a particular organisation, an experiment which was conducted to determine the gasoline mileage of a particular type of car yielded the following data:

Miles per gallon	Percent
10 and under 12	4
13 and under 15	8
16 and under 18	14
19 and under 21	26
22 and under 24	12
25 and under 27	11
28 and under 30	10
31 and under 33	7
34 and under 36	6
37 and under 39	2

Required:

i. Draw the frequency polygon for gasoline mileage. (5 Marks)
ii. Draw the ogive for gasoline mileage. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Frequency Polygon, Gasoline Mileage, Graphical Representation, Ogive
Level: Level 1

Topic: Data Collection Analysis
Series: NOV 2014

QTB – Nov 2014 – L1 – SB – Q5a – Statistics

Calculate the Spearman's rank correlation coefficient between the scores in two subjects and interpret the result.

Question

A business school preparing candidates for professional examinations conducted a mock examination to ascertain the level of preparedness of its candidates in two subjects: Quantitative Techniques in Business (QTB) and Management Information (MI). The table below gives the scores of twelve selected candidates.

Candidates	1	2	3	4	5	6	7	8	9	10	11	12
Score in QTB (x)	35	77	95	28	76	80	90	62	39	65	90	37
Score in MI (y)	50	82	89	58	65	61	84	59	48	53	80	52

Required:
i. Calculate the Spearman’s rank correlation coefficient between $x$ and $y$ . (9 Marks)
ii. Comment on the result in (i) above. (1 Mark)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Correlation, Mock Examination Scores, Spearman’s Rank
Level: Level 1

Topic: Statistics
Series: NOV 2014

QTB – Nov 2014 – L1 – SB – Q4 – Forecasting

Analyze sales data using the Least Squares Method and forecast future sales based on the trend.

Question

The sales of PQR Nigeria Plc. in thousands of Naira are listed in the table below for each quarter for years 2005 – 2008.

Sales of PQR in N’000s

Year	Quarter 1	Quarter 2	Quarter 3	Quarter 4
2005	22	35	82	37
2006	24	46	81	44
2007	25	40	87	49
2008	29	42	100	55

Required:

a. Calculate the trend in the above data using the Least Squares Method. (12 Marks)
b. Estimate the sales for each quarter using the trend line. (4 Marks)
c. Calculate the percentage variation for each quarter’s actual sales from the estimate obtained in (b) above. (4 Marks)

(Total: 20 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Least Squares, Sales Forecasting, Time series, Trend Estimation
Level: Level 1

Topic: Forecasting
Series: NOV 2014

QTB – Nov 2014 – L1 – SB – Q3 – Operations Research

Calculate control levels for inventory, expected time for a project, and identify the critical path in a network diagram.

Question

a. Calculate the various control levels from the following data on a given inventory item:

Normal usage: 1,600 per day
Minimum usage: 1,000 per day
Maximum usage: 3,000 per day
Lead time: 16 – 20 days
EOQ: 40,000
(9 Marks)

b. If the optimistic, most likely, and pessimistic times are given as 11 days, 15 days, and 18 days respectively, calculate the expected time of the project delivery.
(3 Marks)

c. The network for a small building project is shown below together with the time in days required to complete each task.

Required:

i. List the possible paths together with their durations through the network. (6 Marks)
ii. State the critical path and the project duration. (2 Marks)

(Total: 20 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Control Levels, Critical Path, Economic Order Quantity (EOQ), Expected Time, Network Analysis
Level: Level 1

Topic: Operations Research
Series: NOV 2014

QTB – Nov 2014 – L1 – SB – Q2 – Measures of Dispersion

Compare the risk and return of two investments by calculating mean and standard deviation.

Question

In finance, the standard deviation is frequently used to measure the risk of an investment.
An investor is considering two possible investments A and B. A sample of 10 rates of return is recorded for each investment. These rates of return, given as percentages, are as follows:

Investment A:
4, 6, 6, 5, 4, 5, 8, 5, 5, 8

Investment B:
0, -2, 6, 12, 9, 16, -4, 16, 25, 12

Required:
a. Calculate the mean rate of return for each of the two investments. (6 Marks)
b. Calculate the standard deviation of the rate of return for each of the investments. (6 Marks)
c. Which of the two investments is riskier and why? (8 Marks)

(Total: 20 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Investment Analysis, Mean, Risk Assessment, Standard Deviation
Level: Level 1

Topic: Measures of Dispersion
Series: NOV 2014

QTB – Nov 2014 – L1 – SB – Q1b – Mathematics of Business Finance

Determine the total sum of money the Chief Accountant of Zeesco Plc. plans to donate to 4 not-for-profit organisations, given the donations for each organisation.

Question

The Chief Accountant of Zeesco Plc. has a large sum of money which she plans to donate to 4 not-for-profit organisations. She plans to give of this amount to organisation A. Out of the remaining amount, she plans to give to organisation B. Also, she intends to give of the balance to organisation C and the rest to organisation D. If she plans to give 11 million naira to organisation D, how much does she plan to share among these organisations?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Algebraic Fractions, Charity Donations, Fractions, Proportional Distribution
Level: Level 1

Topic: Mathematics of Business Finance
Series: NOV 2014

QTB – May 2017 – L1 – SB – Q6b – Data Collection Analysis

Calculate the mode and Pearson's coefficient of skewness for a given distribution of marks.

Question

The table below shows the marks (%) scored in QTB by some candidates who wrote the ICAN Professional examination in May 2016 diet:

Marks %	Number of Candidates
20–29	7
30–39	17
40–49	13
50–59	9
60–69	4

If the mean mark is 41.7%, calculate the mode and Pearson’s coefficient of skewness. (10 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Mode, Pearson’s Coefficient, Skewness
Level: Level 1

Topic: Data Collection
Series: MAY 2017

QTB – Nov 2014 – L1 – SB – Q1a – Mathematics of Business Finance

Determine the cost of calculators and books using a system of linear equations and solve for individual costs.

Question

The cost of purchasing 8 calculators and 10 books is 158 (thousands of naira).
At another instance, the cost of purchasing 15 calculators and 3 books is 123 (thousands of naira).

Required:
i. Use the information above to write down a system of linear equations to describe the given cost scenario. (4 Marks)
ii. Solve the resulting system of equations. (4 Marks)
iii. Find the cost of each calculator and each book. (2 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Calculation, Linear Equations, Simultaneous Equations
Level: Level 1

Topic: Mathematics of Business Finance
Series: NOV 2014

QTB – May 2017 – L1 – SB – Q1a – Mathematics

Machine replacement time and net earnings calculation considering repair costs.

Question

a. A manufacturing company has purchased a machine generating earnings (₦’000) at time t of , where t is in years. The repair and maintenance cost at time t is
You are required to:

i. Determine when the machine should be replaced, assuming it has a zero salvage value. (4 Marks)

ii. Determine the total net earnings, including the cost of repairs and maintenance within the period of 11 years. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Depreciation, Machine Replacement, Net Earnings
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q20 – Operations Research

This question calculates the holding cost of a unit item based on EOQ and given parameters.

Question

In Inventory Control, the Economic Order Quantity (EOQ) of an item is given as 500 units, ordering cost as ₦500 per order, and the demand for the item in six months is 2,500 units. What is the holding cost of a unit of the item per annum?

A. ₦10
B. ₦20
C. ₦30
D. ₦40
E. ₦50

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business operations, EOQ, Holding Cost
Level: Level 1

Topic: Operations Research
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q19 – Operations Research

This question involves solving a transportation problem using the North-West Corner method to find the values of e+f.

Question

The tabulated information above shows the demands and supplies of a
transportation problem together with the unit costs of transporting. Use the
North-West method to find (e + f)

A. 83
B. 75
C. 66
D. 60
E. 55

Answer

Find Related Questions by Tags, levels, etc.

Tags: North-West Corner Method, Operations Research, Transportation Problem
Level: Level 1

Topic: Operations Research
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q18 – Statistics

This question calculates the centered moving average for a specific year in a time series of cocoa production.

Question

A ten-year record of cocoa production in a certain farm is tabulated as follows:

Year	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012
Production (tonnes)	42	52	41	48	64	67	77	66	73	89

Based on a 4-year moving total, the centered moving average for the year 2007 is:
A. 79.5
B. 69.5
C. 59.5
D. 49.5
E. 39.5

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Statistics, Moving Average, Time series
Level: Level 1

Topic: Statistics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q17 – Statistics

This question checks the range of values for the correlation coefficient r.

Question

If $r$ is the correlation coefficient calculated for a bivariate data, then which one of the following is correct?

A. $1$
B.
C.
D.
E.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bivariate Data, Business Statistics, Correlation
Level: Level 1

Topic: Statistics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q16 – Statistics

This question asks to identify a false statement about normal distribution.

Question

Which of the following is NOT TRUE about Normal Distribution?
A. Normal distribution is a frequency distribution.
B. Both tails of the distribution approach but never meet the horizontal axis.
C. It is a probability distribution of a continuous variable that fits many naturally occurring distributions.
D. The exact shape of the normal curve depends on the mean of the distribution.
E. The area under the normal curve represents the probability and totals 1 or 100%.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Statistics, Normal distribution, Probability
Level: Level 1

Topic: Statistics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q15 – Statistics

This question involves calculating the probability that a defective item is from process B.

Question

A large batch of components of TV sets is stocked by a company. The batch comprises components that are manufactured by processes A, B, and C. There are twice as many components from process A as from each of processes B and C in a batch. Components from A contain 8% defectives, and those from B and C contain 11% and 14% defectives respectively.
The probability that a defective item is from process B is:
A. 0.228
B. 0.238
C. 0.248
D. 0.258
E. 0.268

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Mathematics, Defective Items, Probability
Level: Level 1

Topic: Statistics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q14 – Statistics

This question involves identifying the estimable components of a time series.

Question

The TWO components of a Time Series which are usually estimable are:
A. Trend and Cyclic variation
B. Seasonal variation and Trend
C. Random movements and Trend
D. Seasonal variation and Random movements
E. Cyclic variation and Seasonal variation

Answer

Find Related Questions by Tags, levels, etc.

Tags: Forecasting, Seasonal Variation, Time series, Trend
Level: Level 1

Topic: Statistics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q13 – Statistics

This question calculates the probability of rolling either a four or a six on a six-sided die.

Question

A six-sided die is thrown into the air, the probability that either a FOUR or a SIX will fall upper most is:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Mathematics, Dice, Probability
Level: Level 1

Topic: Statistics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q12 – Data Collection and Analysis

This question involves calculating the quartile deviation given the first quartile and age distribution.

Question

The age distribution of the administrative staff in a tyre manufacturing company is distributed as follows:

Age of administrative staff (years)	Number of administrative staff
28 and under 34	2
34 and under 40	15
40 and under 46	19
46 and under 52	10
52 and under 58	3
58 and under 64	1

If the first quartile age is 38.2 years, then the quartile deviation of the age distribution is:
A. 3.45 years
B. 4.35 years
C. 4.53 years
D. 5.34 years
E. 5.43 years

Answer

Find Related Questions by Tags, levels, etc.

Tags: Age Distribution, Dispersion, Quartile Deviation
Level: Level 1

Topic: Data Collection Analysis
Series: MAY 2017

Subject: QUANTITATIVE TECHNIQUES IN BUSINESS (QTB)

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

PSAF – May 2018 – L2 – Q5 – The Budgeting Process in the Public Sector

Explains the concept of a national budget, surplus and deficit budget implications, and challenges in the implementation of national budgets in Nigeria.

You're reporting an error for "PSAF – May 2018 – L2 – Q5 – The Budgeting Process in the Public Sector"

QTB – Nov 2014 – L1 – SB – Q6 – Mathematics of Business Finance

Calculate the value of an investment with compound interest, the payoff amount for a loan with simple interest, and the additional interest for a loan with monthly payments and reduced interest rates.

You're reporting an error for "QTB – Nov 2014 – L1 – SB – Q6 – Mathematics of Business Finance"

QTB – Nov 2014 – L1 – SB – Q5b – Data Collection Analysis

Draw a frequency polygon and an ogive based on gasoline mileage data from an experiment.

You're reporting an error for "QTB – Nov 2014 – L1 – SB – Q5b – Data Collection Analysis"

QTB – Nov 2014 – L1 – SB – Q5a – Statistics

Calculate the Spearman's rank correlation coefficient between the scores in two subjects and interpret the result.

You're reporting an error for "QTB – Nov 2014 – L1 – SB – Q5a – Statistics"

QTB – Nov 2014 – L1 – SB – Q4 – Forecasting

Analyze sales data using the Least Squares Method and forecast future sales based on the trend.

You're reporting an error for "QTB – Nov 2014 – L1 – SB – Q4 – Forecasting"

QTB – Nov 2014 – L1 – SB – Q3 – Operations Research

Calculate control levels for inventory, expected time for a project, and identify the critical path in a network diagram.

You're reporting an error for "QTB – Nov 2014 – L1 – SB – Q3 – Operations Research"

QTB – Nov 2014 – L1 – SB – Q2 – Measures of Dispersion

Compare the risk and return of two investments by calculating mean and standard deviation.

You're reporting an error for "QTB – Nov 2014 – L1 – SB – Q2 – Measures of Dispersion"

QTB – Nov 2014 – L1 – SB – Q1b – Mathematics of Business Finance

Determine the total sum of money the Chief Accountant of Zeesco Plc. plans to donate to 4 not-for-profit organisations, given the donations for each organisation.

You're reporting an error for "QTB – Nov 2014 – L1 – SB – Q1b – Mathematics of Business Finance"

QTB – May 2017 – L1 – SB – Q6b – Data Collection Analysis

Calculate the mode and Pearson's coefficient of skewness for a given distribution of marks.

You're reporting an error for "QTB – May 2017 – L1 – SB – Q6b – Data Collection Analysis"

QTB – Nov 2014 – L1 – SB – Q1a – Mathematics of Business Finance

Determine the cost of calculators and books using a system of linear equations and solve for individual costs.

You're reporting an error for "QTB – Nov 2014 – L1 – SB – Q1a – Mathematics of Business Finance"

QTB – May 2017 – L1 – SB – Q1a – Mathematics

Machine replacement time and net earnings calculation considering repair costs.

You're reporting an error for "QTB – May 2017 – L1 – SB – Q1a – Mathematics"

QTB – May 2017 – L1 – SA – Q20 – Operations Research

This question calculates the holding cost of a unit item based on EOQ and given parameters.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q20 – Operations Research"

QTB – May 2017 – L1 – SA – Q19 – Operations Research

This question involves solving a transportation problem using the North-West Corner method to find the values of e+f.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q19 – Operations Research"

QTB – May 2017 – L1 – SA – Q18 – Statistics

This question calculates the centered moving average for a specific year in a time series of cocoa production.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q18 – Statistics"

QTB – May 2017 – L1 – SA – Q17 – Statistics

This question checks the range of values for the correlation coefficient r.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q17 – Statistics"

QTB – May 2017 – L1 – SA – Q16 – Statistics

This question asks to identify a false statement about normal distribution.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q16 – Statistics"

QTB – May 2017 – L1 – SA – Q15 – Statistics

This question involves calculating the probability that a defective item is from process B.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q15 – Statistics"

QTB – May 2017 – L1 – SA – Q14 – Statistics

This question involves identifying the estimable components of a time series.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q14 – Statistics"

QTB – May 2017 – L1 – SA – Q13 – Statistics

This question calculates the probability of rolling either a four or a six on a six-sided die.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q13 – Statistics"

QTB – May 2017 – L1 – SA – Q12 – Data Collection and Analysis

This question involves calculating the quartile deviation given the first quartile and age distribution.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q12 – Data Collection and Analysis"

Our offerings

Contact Info

Customer

Get In Touch

admin