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Allama Allama Iqbal Open University Open University

1) This document provides instructions for a semester terminal exam for an Associate Degree Program in Business Math. It lists the title, code, maximum marks and pass marks for the exam. 2) The instructions specify that students must attempt all questions, write their own answers, be concise and avoid plagiarism. Answers must be 600-800 words. 3) Students must include their roll number, name and signature on each page and submit their answer sheets by June 20th, 2021 for grading. Late submissions will not be accepted. 4) The exam contains 3 questions covering probability, linear equations, linear relationships, matrix operations, multivariable calculus, and profit maximization concepts.

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67 views2 pages

Allama Allama Iqbal Open University Open University

1) This document provides instructions for a semester terminal exam for an Associate Degree Program in Business Math. It lists the title, code, maximum marks and pass marks for the exam. 2) The instructions specify that students must attempt all questions, write their own answers, be concise and avoid plagiarism. Answers must be 600-800 words. 3) Students must include their roll number, name and signature on each page and submit their answer sheets by June 20th, 2021 for grading. Late submissions will not be accepted. 4) The exam contains 3 questions covering probability, linear equations, linear relationships, matrix operations, multivariable calculus, and profit maximization concepts.

Uploaded by

osamaghafoor
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ALLAMA IQBAL OPEN UNIVERSITY

Semester Terminal Exam Autumn 2020

Program /level: BA/B.Com/Associate


Associate Degree Program Maximum Marks
arks 100
Title /Course
Business Math (1429) Pass marks 40/50
Code

Instructions for Exams:

1. Attempt All Questions.


2. Write answers in your own words and avoid copying from an internet source or any book.
3. Be precise, avoid unnecessary details, answer to each question must be between 600-800
600
words.
4. Students can attempt paper on any white page. Mention Roll No. , Name & Signature
Sig on every
page. Attach undertaking with each course code.
5. Students are advised to post their answer sheets to their tutor well in time so the same must
reach on or before 20-06-2021.
2021.
6. Submissions after due date & time will not be entertained.
Q.
Questions Marks
No.
(a) The probability that a vehicle entering the Luray Caverns has Canadian 15+8+10=33
license plates is 0.12; the probability that it is a camper is 0.28; and the
probability that it is a camper with Canadian license plates is 0.09. What is
the probability that
(i) A camper entering the Luray Caverns has Canadian license Plates.
(ii) A vehicle with Canadian license plates entering the Luray Caverns is a
camper.
(iii) A vehicle entering the Luray Caverns does not have Canadian plates or
1
is not a camper.

(b) Sketch the plane representing −2𝑥 = −8


(c) Given the points (-4,8)
4,8) and (6, -12):
(i) Determine the midpoint of the line segment connecting the points.
(ii) Determine the distance separating the two points.

(a) An economist believes there is a linear relationship between the market 18+15=33
price of a particular commodity and the number of units suppliers of the
commodity are willing to bring to the marketplace. Two sample
2
observations indicate that when the price equals $15 per unit, the weekly
supply equals 30,000 units; and when the price equals $20 per unit, the
weekly supply equals 48,000 units.
(i) If price per unit, p, is plotted on the horizontal axis and the quantity
supplied q is plotted on the vertical axis, determine the slope-intercept form
of the equation of the line which passes through these two points.
(ii) Interpret the slope of the equation in this application.
(iii) Predict the weekly supply if the market price equals $25 per unit.
(b) Global Insurance Company has four salespeople working in Hill town. The
number of policies sold during the last month is given in matrix A, as

i) Let S= [1 1 1 1]. Find SA and interpret its elements.


ii) Find 𝐴𝑆 and interpret its elements.

(a) Find fx(x,y), fy(x,y), fx(1,3), and fy(-2,4) for the given function. If 12+15+7=34
𝑧 = 𝑓(𝑥, 𝑦) = 3𝑥 𝑦 − 𝑥 𝑦 + 4𝑥 + 9

(b) A firm estimates that it can sell Q units of its product with an advertising
expenditure of x thousand dollars where
𝑄 = 𝑄(𝑥) = −𝑥 + 600𝑥 + 25
i) Over what level of advertising expenditure is the number of units of

3 product sold increasing?


ii) Over what level of advertising expenditure is the number of units of
product sold decreasing?

c) Determine the location and values of the absolute maximum and absolute
minimum for the given function:
𝑓(𝑥) = (−𝑥 + 2) , 𝑤ℎ𝑒𝑟𝑒 0 ≤ 𝑥 ≤ 3

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