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    DECISION-MAKING-TECHNIQUES-1

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    DECISION-MAKING-TECHNIQUES-1

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    healwaysforgets
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    1 views5 pages

    DECISION-MAKING-TECHNIQUES-1

    Uploaded by

    healwaysforgets

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 5

    CIMG Programme Pathway 2

    Professional Advanced
    Certificate in Marketing

    Decision Making Techniques (PAC 201)

    DECEMBER 2023

    Part A – a compulsory case study, worth 40 marks


    Part B – answer any three questions, worth 60 marks in total

    Part A – a compulsory case study, worth 40 marks


    Part B – answer three questions, worth 60 marks
    PART A
    CASE STUDY – COMPULSORY
    Question 1
    a. State the main difference between a Census and a Sample Survey (2 marks)

    b. State one merit and two demerits of census data (3 marks)

    c. State two merits and two demerits of sample data (4 marks)

    d. Your firm has decided to investigate the status of examination performance of


    Decision-Making Techniques students in Ghana over the past five (5) years. You
    have been asked to gather the data for the study by using either primary or
    secondary data.

    i. Define primary data (1 mark)


    ii, Define secondary data (1 mark)
    iii. Decide which data type will be more appropriate for this study and give
    three (3) reasons for your decision. (6 marks)

    e. The following Table contains the examination results of the Decision-Making


    Techniques students for the past five years.

    Year of Percentage of Students Obtaining Each Grade


    exam A B C D F TOTAL
    2022 10 15 20 30 25 100%
    2021 5 20 25 20 30 100%
    2020 15 10 25 15 35 100%
    2019 20 15 15 25 25 100%
    2018 10 35 10 15 30 100%

    REQUIRED:
    If letters A to E are the grades the candidates obtained during the examinations,
    present the data on a well-labelled Grouped bar graph. (23 marks)

    1
    PART B
    ANSWER ANY THREE (3) QUESTIONS ONLY FROM THIS SECTION

    Question 2
    a. Briefly explain the term Probability Sampling (4 marks)
    b. Give three (3) reasons why Probability sampling is very common among
    researchers. (6 marks)
    c. A marketing research firm intends to collect data from a sample of 400 major
    customers of its client organization using a systematic sampling technique. If the
    total population of the major customers is 4000, describe the process to follow
    until the individuals are obtained for the data. (10 marks)

    Question 3
    a. Explain the term coefficient of variation (CV) (4 marks)
    b. Explain how CV can be used in decision making in choosing between two
    markets. (4 marks)
    c. An organization conducted market research on two markets and came out with
    the following results:

    Market 1:
    Mean: 60
    Standard Deviation: 10

    Market 2:
    Mean: 50
    Standard Deviation: 7.5

    i. Calculate the coefficient of variations for both markets. (8 marks)


    ii. Select the more suitable market for investment based on the results of the
    coefficient of variations obtained. (2 marks)
    iii. Give a reason for your choice of market. (2 marks)

    2
    Question 4
    A sales representative wants to understand the relationship between hours
    travelled and the litres of fuel consumed by his sales Van per week.
    Hours Travelled Fuel Consumed
    12 14
    13 15
    15 27
    17 30
    19 35

    a. Plot this data on a well-labelled scattergram and insert the line of best fit. (17
    marks)
    b. Interpret the results obtained in 4a above (3 marks)

    Question 5
    a. Define Retail Price Index (RPI) and Consumer Price Index (CPI) (6 marks)
    b. State one use of the retail price. (2 marks)
    c. Explain the steps involved in constructing Price Index numbers (12 marks)

    Question 6

    The government of Ghana has instructed 100 Junior High Schools to plant 100
    mango trees in their gardens in support of the country’s rural industrialization
    drive. The data below represents the number of trees planted by each school that
    survived.

    95, 67, 28, 32, 65, 65, 69, 33, 98, 96, 76, 42, 32, 38, 42, 40, 40, 69, 95, 92, 75,
    83, 76, 83, 85, 62, 37, 65, 63, 42, 89, 65, 73, 81, 49, 52, 64, 76, 83, 92, 93, 68,
    52, 79, 81, 83, 59, 82, 75, 82, 86, 90, 44, 62, 31, 36, 38, 42, 39, 83, 87, 56, 58,
    23, 35, 76, 83, 85, 30, 68, 69, 83, 86, 43, 45, 39, 83, 75, 66, 83, 92, 75, 89, 66,
    91, 27, 88, 89, 93, 42, 53, 69, 90, 55, 66, 49, 52, 83, 34, 36

    3
    Required:

    a. Using appropriate class of equal intervals prepare a Frequency Distribution


    table for the data. (18 marks)

    b. Find the total number of schools that have 50% or more of their plants surviving.
    (2 marks)

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