Nothing Special   »   [go: up one dir, main page]
Scribd Logo
Upload

Welcome to Scribd!

  • 27 views

    DIT 0205 Elementary Mathematics and Decision Making - Printrea

    Uploaded by

    kipkoecharonz korir
    This document contains a past exam paper for an Elementary Mathematics and Decision Making course. It includes 5 questions, with the first question being compulsory and worth 30 marks, and questions 2-5 worth 15 marks each. Question 1 covers topics like definitions of sets, decision trees, derivatives, discrete vs continuous variables, and linear programming. Question 2 asks about choosing between alternatives to maximize expected monetary value. Question 3 formulates and solves a linear programming problem about production allocation. Question 4 determines profit maximizing quantity, price, and profit for a production function. Question 5 calculates future value of an investment and outlines decision making terminology.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    DIT 0205 Elementary Mathematics and Decision Making - Printrea

    Uploaded by

    kipkoecharonz korir
    27 views3 pages
    This document contains a past exam paper for an Elementary Mathematics and Decision Making course. It includes 5 questions, with the first question being compulsory and worth 30 marks, and questions 2-5 worth 15 marks each. Question 1 covers topics like definitions of sets, decision trees, derivatives, discrete vs continuous variables, and linear programming. Question 2 asks about choosing between alternatives to maximize expected monetary value. Question 3 formulates and solves a linear programming problem about production allocation. Question 4 determines profit maximizing quantity, price, and profit for a production function. Question 5 calculates future value of an investment and outlines decision making terminology.

    Original Description:

    Original Title

    DIT 0205 Elementary Mathematics and Decision Making_printrea

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document contains a past exam paper for an Elementary Mathematics and Decision Making course. It includes 5 questions, with the first question being compulsory and worth 30 marks, and questions 2-5 worth 15 marks each. Question 1 covers topics like definitions of sets, decision trees, derivatives, discrete vs continuous variables, and linear programming. Question 2 asks about choosing between alternatives to maximize expected monetary value. Question 3 formulates and solves a linear programming problem about production allocation. Question 4 determines profit maximizing quantity, price, and profit for a production function. Question 5 calculates future value of an investment and outlines decision making terminology.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    27 views3 pages

    DIT 0205 Elementary Mathematics and Decision Making - Printrea

    Uploaded by

    kipkoecharonz korir
    This document contains a past exam paper for an Elementary Mathematics and Decision Making course. It includes 5 questions, with the first question being compulsory and worth 30 marks, and questions 2-5 worth 15 marks each. Question 1 covers topics like definitions of sets, decision trees, derivatives, discrete vs continuous variables, and linear programming. Question 2 asks about choosing between alternatives to maximize expected monetary value. Question 3 formulates and solves a linear programming problem about production allocation. Question 4 determines profit maximizing quantity, price, and profit for a production function. Question 5 calculates future value of an investment and outlines decision making terminology.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    KIMATHI UNIVERSITY COLLEGE OF TECHNOLOGY

    University Examination 2010/2011

    STAGE II EXAMINATION FOR THE DIPLOMA IN INFORMATION


    TECHNOLOGY

    DIT 0205: ELEMENTARY MATHEMATICS AND DECISION MAKING

    DATE: 19th NOVEMBER 2010 TIME: 11.00 am – 12.30pm

    INSTRUCTIONS:
    Answer Question 1 (compulsory - 30 marks) and any other TWO Questions (15 marks
    each).

    QUESTION ONE (30 MARKS)

    a) Explain the following terms.


    i. Equality of sets:
    ii. Opportunity loss:
    iii. Decision making
    (6mrks)
    .
    b) Outline three types of decision tree. (3mrks)
    c) Find the derivatives of the following.
    i) Y=1/x2
    ii) y=5x3-2x2+4 (4mrks)

    d) differentiate between discrete and continuous variable. (3mrks)


    e) Outline the four advantages of linear programming in decision making (4mrks)
    f) An advertisement for an opportunity state that the post carries a salary of £1000
    p.a rising by an annual increment of £100 to £2000 p.a. what is the total amount
    that a man would earn if he held the post for 25yrs (6mrks)
    g) Assuming that a marginal revenue function is y=3q+10 where q is sales in units.
    determine the total revenue function (4mrks)

    Page 1 of 3
    QUESTION TWO (15 MARKS)

    The manager of firm has two alternatives to chose from for the next quarter.
    a) take a contract to supply on item to a company which could results in a sure profit
    of 20,000 or
    b) To make and introduce a new product in the market. The likely profit/loss
    possibilities a long the likely probabilities are also given and the utility value
    associated with the various profit level,.

    Profit/loss -20000 0 20,000 40,000 80,000


    Probability 0.1 0.2 0.3 0.3 0.1
    Utility (utils) -0.5 0 0.45 0.70 1.20
    Determine which course of action would be preferred by the manager if he wants to
    maximize the expected monetary value (EMV) (15mrks)

    QUESTION THREE (15MARKS)

    A company is involved in the production of two items (A and B). The resources need to
    produce A and B are twofold, namely machine time for automatic processing and
    craftsman time for hand finishing. The table below gives the number of minutes required
    for each item:

    Machine time Craftsman time


    Item A 13 20
    B 19 29
    The company has 40 hours of machine time available in the next working week but only
    35 hours of craftsman time. Machine time is costed at ksh10 per hour worked and
    craftsman time is costed at ksh 2 per hour worked. Both machine and craftsman idle
    times incur no costs. The revenue received for each item produced (all production is sold)
    is ksh20 for A and ksh30 for B. The company has a specific contract to produce 10 items
    of A per week for a particular customer.
    a) Formulate the problem of deciding how much to produce per week as a linear
    program.( 8mrks)
    b) Solve this linear program graphically (7mrks)

    Page 2 of 3
    QUESTION FOUR (15 MARKS)

    A sugar factory has analyzed the operating condition prices and cost and has developed
    the following function.
    R=400Q-4Q2
    C= Q2+10Q+Q+30 where Q is the number of units sold.
    i) Required to determine
    (a) The quantity to be sold in order to maximize profit. (3mrks)
    (b) The price to sell the product in order to maximize profit. (3mrks)
    (c) The amount of profit to be realized. (4mrks)
    ii) A project offers an annual returns of ksh,.250,000 for four years. If the cost of money
    is 15%, calculate the present value of the project. (5mrks)

    QUESTION FIVE (15 MARKS)


    (a) An investor deposits ksh 10,000 in a saving account. Each payment is made at
    the end of year. If a payment deposited earns 6% interest annually, how much
    amount will he receive at the end of 10yrs? (7mrks)

    (b) Outline four terminology used in decision making process (8mrks)

    Page 3 of 3

    You might also like