FIN 201FIN 201/BAF 221/STAT 251 — Business Statistics
DEPARTMENT OF BANKING AND FINANCE — FACULTY OF MANAGEMENT SCIENCES — EBONYI STATE UNIVERSITY, ABAKALIKI
FIRST SEMESTER 2025/2026 EXAM — FIN 201 / BAF 221 / STAT 251 (Business Statistics) — Time: 2 Hrs
INSTRUCTION: Answer all questions.
1. (i) What do you understand by the term "Statistics"?
(ii) Differentiate between the following:
(a) Primary and Secondary data
(b) Descriptive and Inductive statistics
(c) Discrete and Continuous variables
(d) Probabilistic and Non-Probabilistic sampling.
2. The age distribution of 15 pupils in the Psychology Department of XYZ University is: 18, 20, 21, 23, 20, 23, 23, 19, 18, 21, 23, 23, 20, 21, 24. Calculate:
(i) Mean
(ii) Mean deviation
(iii) Variance
(iv) Standard deviation
(v) Coefficient of variation.
3. The weekly production of rice by Ebonyi Rice World Company (in tonnes) is:
68, 79, 75, 73, 68, 93, 62, 59, 76, 75, 61, 78, 75, 75, 74, 77, 95, 74, 66, 60, 96, 62, 89, 97, 74, 85, 60, 65, 83, 75, 65, 67, 73, 81, 63, 81, 62, 57, 53, 77.
You are required to:
(i) Construct the frequency distribution using a class interval of 5.
(ii) Draw the histogram of the data.
(iii) Draw the frequency polygon.
4. With the aid of a diagram where necessary, explain:
(i) Simple random sampling
(ii) Stratified sampling
(iii) Cluster sampling
(iv) Systematic sampling
(v) Multi-stage sampling.
2026-05-26