## NOUN Past TMA Questions & Solutions: BFN728 - Quantitative Techniques for Financial Decisions

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### NOUN Past TMA Questions & Solutions: BFN728 - Quantitative Techniques for Financial Decisions

NOUN Past TMA Questions & Solutions: Quantitative Techniques for Financial Decisions

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61 _______ can be defined as the degree of relationship between two or more variables.

Correlation

62 Assuming two events, A and B, the probability of event A, given that event B has occurred is referred to as the___________ probability of event A.

conditional

63 The ___________ Probability of an event is its simple probability of occurrence, given the sample space.

marginal

64 _______ theorem is a formula which can be thought of as 􀳦??reversing􀳦?􀳦 conditional probability.

bayes

65 A joint probability table is a contingency table in which all possible events for a variable are recorded in a _____ and those of other variables are recorded in a column.

row

66 A __________ probability implies the probability of joint events.

joint

67 There are __________ basic laws of probability.

four

68 The event 􀳦??black ace􀳦?􀳦 is also a __________ event since the card must be both black and ace in order to ualify as a black ace.

compound

69 ___________ is a concept that most people understand naturally, since such words as 􀳦??chance,􀳦? 􀳦 􀳦??likelihood,􀳦?􀳦 􀳦??possibility􀳦?􀳦 and 􀳦??proportion are used as part of everyday speech.

probability

70 A compound or joint event is an event that has __________or more characteristics.

two

71 A _____________ is a rectangular array of numbers.

matrix

72 Solve the ineualities 2(X - 3) < 4

X < 5

73 Suppose f is a linear function with slope of 2 and f(4) = 8, find f(x).

f(x) = 2x

74 A___________euation system is a set of euations with two or more unknown.

simultaneous

75 Solve 2(p + 4) = 7p+2

p = 6/5 = 1.2

76 Solve 5X 􀳦?? 6 = 3X in the following linear euations.

X = 3

77 Linear euations are classified as _____________degree euations

first

78 An ___________ is a mathematical model expressing the relationship between variables.

equation

79 There are basically _________ types of statistics

two

80 uantitative analysis basically constitutes mathematically and __________ tools

Statistical

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Richtubor
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### Re: NOUN Past TMA Questions & Solutions: Quantitative Techniques for Financial Decisions

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41 ____________ as an allowance made in estimate, valuation or accounting balance sheets, usually for wear and tear.

depreciation

42 The first term of an arithmetic progression can be denoted by _____________

a

43 An arithmetic progression refers to a _________ of numbers.

sequence

44 Mathematical progressions that are often used in business and economics are those of Arithmetic and ____ progressions.

Geometric

45 An ____________ on the other hand, signifies a point in time in the progress of the given project.

event

46 Network analysis covers the way large ___________ are planned.

projects

47 _____________ planning is basically the task of breaking down a given business project into its constituent activities and deciding on their time relationships.

network

48 The alternatives available to the decision maker are denoted by ____________

ai (i = 1, 2, 3, 􀳦?􀳦, n)

49 ____________analysis is the modern approach to decision making both in economics and in business.

decision

50 ____________ basic inventory control models are currently in use.

two

51 ____________ are forecasts based solely on past and present values of the variable to be forecast.

Extrapolation

52 ___________ are based on past performances.

forecasts

53 There are __________ partial correlation coefficients .

two

54 A __________correlation coefficient measures the relationship between any two variables, keeping other variables constant.

partial

55 If two or more observations have the same value, we assign to each observation the ___________.

Mean rank

56 There are _______ important points to note about the rank correlation coefficient.

two

57 ____________ correlation coefficient is used for ualitative variables, whereby the variables cannot be measured numerically.

Rank

58 The scatter diagram indicates the strength of the relationship between the ___________ variables.

two

59 Correlation may be linear for _________ diagram.

scatter

60 The degree of relationship between two variables is called _________ correlation.

simple

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### Re: NOUN Past TMA Questions & Solutions: Quantitative Techniques for Financial Decisions

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21 If A = {a, e, i, o, u}, then n[A] = __________

5

22 The number of a set A, written as _________

n[A]

23 A mathematical set is a collection of distinct objects, often referred to as elements or _______

members

24 Consider a set of data on monthly sales of a company􀳦??s product, the mean of which was found to be N240,000; the mode found to be N135,000; and the standard deviation found to be N85,000. The Pearson􀳦??s No. 1 Coefficient of skewness would be calculated as follows:

1.24

25 The formula used in calculating Pearson􀳦??s No. 1 coefficient is ___________

sk= mean-mode/􀳦?

26 The measures of _________ are generally called Pearson􀳦??s first coefficient

skewness

27 The coefficient of variation is also useful in the comparison of _____or more sets of data

two

28 The coefficient of variation measures the standard deviation relative to the ________

mean

29 ___________ can be defined as the suare root of the variance for a given set of data.

standard deviation

30 Given the arrayed data: X = 2,5,8,9,12,13,18, the range will be _________

R = 18 􀳦?? 2 = 16.

31 The collection of all the possible events is called the ____________.

sample space

32 ___________ considers sets in terms of number of elements contained within the various areas defined by their union or intersection.

Set enumeration

33 if X = {1, 2, 3, 4} and Y = {3, 4, 5}, then element are ____________

{1,2,3,4,5}

34 The union of two sets X and Y, denoted by_____________

X􀳦??Y

35 There are ___________basic operations on sets.

Two

36 ____________are simple pictorial representations of a set.

Venn diagrams

37 A set of all English alphabets make up the universal set, while a set containing the _______ would be referred to as the subset.

Vowels

38 A universal set denoted by ___________ is a set containing different subsets of its elements.

U

39 If A = {1, 2, 3} and B = {1, 2, 3}, then ___________

Set A = Set B.

40 set ________ are said to be eual only when they have identical elements.

equality

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### Re: NOUN Past TMA Questions & Solutions: Quantitative Techniques for Financial Decisions

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1 There are ______ important measures of variations.

five

2 Find the mode of the following data X=1 2 2 4

2

3 Consider the following median raw data on hourly wage rate for six executive secretaries Xi= 300, 750,
850, 950, 950, 1000

900

4 Find the arithmetic mean Xi = 2, 2, 4, 7, 3, 1

3.1667

5 ________mean is used in estimating the average of a given set of observations.

arithmetic

6 There are three important measures of central tendency which are arithmetic mean, median and

mode

7 The concept of derivatives can be used in solving maximisation and __________ problems.

minimisation

8 Suppose a manufacturer sells a product at N2 per unit. If units are sold, the total revenue: R = p = 2

#2

9 The _____________ give us some efficient shortcuts for calculating derivatives.

rules of differentiation

10 If A is an (m x n) matrix and K is a real number (or scalar), then ___________is a scalar
multiplication.

KA

11 _____________ is a level used as an indicator above which stocks are deemed to be too
high.

maximum stock

12 ____________ is the time between ordering of goods and their replenishment.

13 ___________ are costs associated with running out of stock.

stock out cost

14 Index numbers are used by policy makers to decide on ___________ changes.

tax

15 A Paasche Price Index uses current time period ___________ as weights

quantities

16 A ____________ index is a special case of weighted aggregate index. This index uses base time period weights.

Laspeyres

17 Suppose the unit price of a standard exercise book was N80 in January and rose to N100 in September, the percentage change in the price of exercise books can be calculated as
_____________

0.25

18 Two or more time periods are usually involved in the _______of an index number.

computation

19 An index number measures the _______ change in the value of some economic commodity over a period of time.

percentage

20 ___________numbers are often used in stabilising the time value of money and in deflating nominal values.

index

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Richtubor
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Joined: Mon Aug 21, 2017 8:24 pm
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### Re: NOUN Past TMA Questions & Solutions: Quantitative Techniques for Financial Decisions

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1 There are ______ important measures of variations.

five

2 Find the mode of the following data X=1 2 2 4

2

3 Consider the following median raw data on hourly wage rate for six executive secretaries Xi= 300, 750,
850, 950, 950, 1000

900

4 Find the arithmetic mean Xi = 2, 2, 4, 7, 3, 1

3.1667

5 ________mean is used in estimating the average of a given set of observations.

arithmetic

6 There are three important measures of central tendency which are arithmetic mean, median and

mode

7 The concept of derivatives can be used in solving maximisation and __________ problems.

minimisation

8 Suppose a manufacturer sells a product at N2 per unit. If units are sold, the total revenue: R = p = 2

#2

9 The _____________ give us some efficient shortcuts for calculating derivatives.

rules of differentiation

10 If A is an (m x n) matrix and K is a real number (or scalar), then ___________is a scalar
multiplication.

KA

11 _____________ is a level used as an indicator above which stocks are deemed to be too
high.

maximum stock

12 ____________ is the time between ordering of goods and their replenishment.

13 ___________ are costs associated with running out of stock.

stock out cost

14 Index numbers are used by policy makers to decide on ___________ changes.

tax

15 A Paasche Price Index uses current time period ___________ as weights

quantities

16 A ____________ index is a special case of weighted aggregate index. This index uses base time period weights.

Laspeyres

17 Suppose the unit price of a standard exercise book was N80 in January and rose to N100 in September, the percentage change in the price of exercise books can be calculated as
_____________

0.25

18 Two or more time periods are usually involved in the _______of an index number.

computation

19 An index number measures the _______ change in the value of some economic commodity over a period of time.

percentage

20 ___________numbers are often used in stabilising the time value of money and in deflating nominal values.

index

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