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Quantitative Methods
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UGANDA MANAGEMENT INSTITUTE
FIRST SEMESTER EXAMS 2017/
Date: Monday 22 January 2018
Time: 04 PM – 07 PM
INSTRUCTIONS
1. Answer FOUR Questions.
2. Question ONE of Section A is compulsory and carries 40 marks.
3. Answer any other THREE Questions from Section B. Each question carries
20 marks.
4. Write clearly and legibly.
5. Do not write anything on the question paper.
6. Do not take Mobile Phones into the examination room.
7. Follow the instructions of the Examination Supervisor.
8. Indicate questions answered on the Answer Sheet in the column of
Questions.
This paper consists of 6 printed pages.
- GOOD LUCK-
POSTGRADUATE DIPLOMA IN MANAGEMENT (DIMA); HUMAN RESOURCE MANAGEMENT (DHRM);
PROJECT PROCUREMENT & MANAGEMENT (DPPM); PUBLIC ADMINISTRATION AND
MANAGEMENT (DPAM); FINANCIAL MANAGEMENT (DFM); PROCUREMENT & SUPPLY CHAIN
MANAGEMENT (PSCM); MARKETING MANAGEMENT (DMM); INFORMATION SYSTEMS
MANAGEMENT (DISM); PUBLIC POLICY AND GOVERNANCE (DPPG); MONITORING AND
EVALUATION (DME), MANAGEMENT INFORMATION SECURITY (DISEM)(EVE)
MODULE: QUANTITATIVE METHODS
SECTION A: COMPULSORY (40 MARKS)
QUESTION ONE
You are a project manager and you hope that after teaching a project management class,
performance has significantly improved from the baseline score of 50% (before the
teaching). To test this claim call it hypothesis data was collected about performance of
participants after the teaching and below is the performance of 60 participants of
the project planning class in a project cost management examination.
These are % scores in an examination of February 2013.
Assume that this is a representative sample of project cost management class, and the
entire class is normally distributed:
63 74 53 60 39 80
63 50 39 60 87 80
71 46 49 35 59 75
74 73 42 83 43 62
33 71 51 64 70 86
56 44 64 51 35 79
68 66 60 46 49 63
67 56 77 50 75 69
62 50 71 60 64 62
63 51 74 57 78 68
Required:
a) Using classes starting from 30-39, etc. construct a frequency distribution; [5 marks]
b) From a) compute the mean, median, mode and the standard deviation; [12 marks]
c) Compute skewness of distribution and comment on the class performance.
[5 marks]
d) Test the hypothesis at 5% level of significance that participants benefit from teaching
in project cost management. [8 marks]
e) Comment on the relevance of quantitative methods in project /business decision
making. [10 marks]
Activity Description Immediate
predecessors
Expected time
(days)
A Plan production - 5
B Procure materials for part
X
A 14
C Manufacture part X B 9
D Procure materials for part
Y
A 15
E Manufacture part Y D 10
F Assemble parts X and Y C,E 4
G Inspect assemblies F 2
H Completed G 0
Required:
i. Construct a graphical representation of the CPM network. [ 5 marks]
ii. Identify the critical path. What is its length? How do you know it is the critical
path? [5 marks]
iii. Draw the Gantt chart [3 marks]
iv. What are the uses of critical path method to a manager? [5marks]
v. What are the limitations of the CPM model? [2 marks]
QUESTION FOUR
A company produces 2 products x and y. Product x requires 30 minutes of labour while y
requires 15 minutes of labour. Product x consumes 2 kilograms of raw materials and y
consumes 4 kilograms of raw materials. Product x requires 3 minutes of testing while y
requires 4 minutes of testing. In any week, only 30 hours of labour and 280 kilograms of
raw materials are available. The testing machine can only be used for 4 hours a week.
In whatever situation, at least 20 units of x must be produced. Each unit of x generates a
profit of 12,000/= and y generates 9,000/= per unit.
Required
(a) Formulate the objective function for the above company [3 Marks]
(b) Formulate the constraints to the above function [4 Marks]
(c) Determine the weekly production that maximizes profits and calculate the profit
at this level [9 Marks]
(d) Determine the percentage utilization of labour when profits are
maximized. [4 Marks]
QUESTION FIVE
Lubongo manufacturing Company has been presented with a new product development
proposal. The cost of the development project is $400,000. The probability of successful
development is projected to be 70%. If the development is unsuccessful, the project will
be terminated. If it is successful, the manufacturer must then decide whether to begin
manufacturing the product using the new staff or pay over- time to existing staff. If the
demand for the new product is high, the incremental revenue using the new staff is
$1,600,000, and the incremental revenue using existing staff $800,000. If the demand is
low, the incremental revenue using the new staff is $900,000, and the incremental
revenue using existing staff is $700,000. All of these incremental revenue values are
gross figures, i., before subtracting the $400,000 development cost, $250,000 for
recruitment process of new staff and $50,000 adjusting contracts of existing staff to
allow them work overtime. The probability of high demand is estimated as 60%, and of
low demand as 40%.
Required:
a) Draw a decision tree include the figures for costs, loss or profit on the appropriate
branches of the tree. [10 marks]
b) Give the final decision on whether to develop the product or to abandon.
[5 marks]
c) As a manager how would you use the above findings? [5 marks]
QUESTION SIX
a) Comment on index numbers as a tool for business decision making [5 marks]
b) In context of index numbers briefly explain the following:
i. Consumer price Index [2 Marks]
ii. Base year and Current year [2 Marks]
c) Comment on the challenges of constructing index numbers. [3 Marks]
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Quantitative Methods
Course: Accounting and finance
88 Documents
Students shared 88 documents in this course
University: Kyambogo University
Was this document helpful?
UMI EXAMS POSTGRADUATE DIPLOMAS - EVE – 1ST SEMESTER - JANUARY 2018 UMI EXAMS
1
UGANDA MANAGEMENT INSTITUTE
FIRST SEMESTER EXAMS 2017/2018
Date: Monday 22 January 2018
Time: 04.00 PM – 07.00 PM
INSTRUCTIONS
1. Answer FOUR Questions.
2. Question ONE of Section A is compulsory and carries 40 marks.
3. Answer any other THREE Questions from Section B. Each question carries
20 marks.
4. Write clearly and legibly.
5. Do not write anything on the question paper.
6. Do not take Mobile Phones into the examination room.
7. Follow the instructions of the Examination Supervisor.
8. Indicate questions answered on the Answer Sheet in the column of
Questions.
This paper consists of 6 printed pages.
-GOOD LUCK-
POSTGRADUATE DIPLOMA IN MANAGEMENT (DIMA); HUMAN RESOURCE MANAGEMENT (DHRM);
PROJECT PROCUREMENT & MANAGEMENT (DPPM); PUBLIC ADMINISTRATION AND
MANAGEMENT (DPAM); FINANCIAL MANAGEMENT (DFM); PROCUREMENT & SUPPLY CHAIN
MANAGEMENT (PSCM); MARKETING MANAGEMENT (DMM); INFORMATION SYSTEMS
MANAGEMENT (DISM); PUBLIC POLICY AND GOVERNANCE (DPPG); MONITORING AND
EVALUATION (DME), MANAGEMENT INFORMATION SECURITY (DISEM)(EVE)
MODULE: QUANTITATIVE METHODS
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Accounting and finance
Kyambogo University
88 Documents
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