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CIMA
CIMA Certificate
BA1
Fundamentals of Business Economics Questions and Answers

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Viewing page 14 out of 14 pages

Viewing questions 131-140 out of questions

Questions # 131:

Which of the following is NOT a feature of the data?

Options:

Big data analysis requires companies to invest in specialist data analytic skills

Big data can sometimes be harvested from electronic devices such as smart meters and GPS systems

Big data is such a large volume that it cannot be analysed through spreadsheets

Big data is purposefully collected from carefully designed samples through surveys and interviews

Answer

Questions # 132:

rson's correlation coefficient between the number of shirts sold per day (x) and the number of jackets sold per day (y), across its eight stores (n=8).

Question # 132

what is the Pearson's correlation coefficient? Give your answer to two decimal places.

Options:

Answer

Answer:

0.83

Questions # 133:

A magazine currently has a circulation of 500,000 copies per year at a price of $5 per copy Following a market survey it has been suggested that the price of each copy should be reduced to $4 50. It is expected this will lead to an increase in circulation of 25.000 copies per year.

What is the price elasticity of demand of the magazine?

Options:

Answer

Answer:

- 0.45

Questions # 134:

Which THREE of the following does globalisation offer to businesses?

Options:

The opportunity to participate in building international alliances.

The opportunity to comply with national standards

The benefits of protectionist measures

The opportunity to lobby the government for less regulation

By opening up new markets, the opportunity to increase sales

The opportunity to relocate production in countries where the labor cost is lower

Answer

A, E, F

Questions # 135:

Based on historical time series data, a chemicals company uses sales ($million) as the y variable and time (year) as the x variable and equation.

y = - 3935 47 + 2 02x

Using the equation, what is the company's predicted sales for the year 2020? Give your answer to the nearest million.

Options:

Answer

Answer:

$15 million

Questions # 136:

For a typical business, which of the following is NOT a potential benefit of globalisation?

Options:

Lower cost sites for the location of production

Simultaneously improved terms of trade for all countries

Wider sources of supply for inputs.

Larger markets for outputs

Answer

Questions # 137:

The following scatter diagram displays the total life expectancy in years on the X axis and GDP per capita (constant 2000 S) on the Y axis, in Country S for the past 40 years. Which of the following statements is true in respect of the graph?

Question # 137

Options:

A perfect positive linear relationship is shown in the diagram.

In most years, the samples shows a clear negative trend in the diagram

There is no correlation between the level of GDP per capita and life expectancy.

In some years, the level of GDP per capita and life expectancy moved in opposite directions.

Answer

Questions # 138:

A business based in Country A. agrees to buy a software package from a company based in Country O tor 20.000 Country O dollars 12 months time. At the time of the contract the exchange rate was 1 O dollar (0$) to 1.5 Country A pounds (A£). When payment ism

Rate is O$1 to A£1 4.

What is the exchange rate gain (+) or loss (-) made by the Country A business?

Give your answer to a whole number.