Name: Student number: Serial Number:
SOLUTIONS
Given by supervisor
UNIVERSITEIT VAN AMSTERDAM
________________________________________________________
Faculty of Economics and Business Academic year 2014-2015
On the first page of this exam form you will find important information about this exam.
Please read the information below before answering any exam questions!
Exam: MRM1: Management Research Methods 1 (6012S0044, 6012S0046)
Date and time of the exam: 24 October 2014, 17:00-20:00 h.
Duration of the exam: 180 minutes
You have to identify yourself using your validated UvA-identification card or other legal ID-card.
If you are not registered via SIS for the course component correctly, your exam will not be marked and
registered.
Please write your name, student number and serial number on top of this page.
Warning against cheating:
Do not cheat! Students who are caught in any form of cheating will be punished, the maximum
punishment being exclusion from all exams for a period of one year. Make sure that your mobile
phone is switched off and locked in your briefcase. Your briefcase must be closed and placed on
the floor. During the exam you are not allowed to go to the toilet without the prior consent of
the coordinating supervisor or invigilator.
Tools allowed: unwritten formula sheet, unwritten table sheet, pen, pencil, eraser, ruler, non-
graphical calculator.
Specific information on this exam:
This exam consists of 7 questions and 20 items on 10 pages (front page included).
Maximum 100 points. For each item the maximum points are indicated above the item.
Note: this exam makes use of a decimal comma rather than a decimal point.
The results of this exam will be published within 17 working days following the date of the
exam.
Inspection of the exam: An inspection session will announced on Blackboard.
You are not allowed to keep the question form(s) after the examination.
Good luck
1
, Q1
A credit card company wants to know how much a particular group of cardholders charges within a
year. The following observations (in €) are obtained for a sample of 25 customers.
0 56 244 287 345 476 744 823 1478 1530
1936 2856 2945 3085 3228 3425 3834 5346 6039 7731
8163 9681 12064 15395 21952
Q1a) (8 points)
Make a box plot of the given data. Use Tukey’s method.
Calculations:
Q1 is the 7th observation. so Q1=744 1p
Q2 is the 13th observation. so Q2=2945 1p
Q3 is the 7th observation from behind. so Q3=6039 1p
IQR = 6039 – 744 = 5295 1p
Fences: 744 – 1.5×5295 = –7198.5 and 6039 + 1.5×5295 = 13981.5 1p
Outliers: 15395, 21952 1p
Box plot of charges: 2p
___________
|─│____│______│─────────────│ o o
┬─────────┬─────────┬─────────┬─────────┬─────────┬ charges
0 5000 10000 15000 20000 25000
Q1b) (3 points)
Would you rather use the mean or the median to describe the center of the distribution. Explain.
Median.
The distribution has extreme values on the right side of the distribution. and the mean is
sensitive to such values. while the median is not. Therefore. the median gives a better
indication of the charge by a typical card holder. 3p only for good explanation
Q1c) (3 points)
What information about the distribution do you get from the length of the box?
The length of the box is the inter quartile range. 1p
It shows the range of the middle 50% of the observations. 2p
2
SOLUTIONS
Given by supervisor
UNIVERSITEIT VAN AMSTERDAM
________________________________________________________
Faculty of Economics and Business Academic year 2014-2015
On the first page of this exam form you will find important information about this exam.
Please read the information below before answering any exam questions!
Exam: MRM1: Management Research Methods 1 (6012S0044, 6012S0046)
Date and time of the exam: 24 October 2014, 17:00-20:00 h.
Duration of the exam: 180 minutes
You have to identify yourself using your validated UvA-identification card or other legal ID-card.
If you are not registered via SIS for the course component correctly, your exam will not be marked and
registered.
Please write your name, student number and serial number on top of this page.
Warning against cheating:
Do not cheat! Students who are caught in any form of cheating will be punished, the maximum
punishment being exclusion from all exams for a period of one year. Make sure that your mobile
phone is switched off and locked in your briefcase. Your briefcase must be closed and placed on
the floor. During the exam you are not allowed to go to the toilet without the prior consent of
the coordinating supervisor or invigilator.
Tools allowed: unwritten formula sheet, unwritten table sheet, pen, pencil, eraser, ruler, non-
graphical calculator.
Specific information on this exam:
This exam consists of 7 questions and 20 items on 10 pages (front page included).
Maximum 100 points. For each item the maximum points are indicated above the item.
Note: this exam makes use of a decimal comma rather than a decimal point.
The results of this exam will be published within 17 working days following the date of the
exam.
Inspection of the exam: An inspection session will announced on Blackboard.
You are not allowed to keep the question form(s) after the examination.
Good luck
1
, Q1
A credit card company wants to know how much a particular group of cardholders charges within a
year. The following observations (in €) are obtained for a sample of 25 customers.
0 56 244 287 345 476 744 823 1478 1530
1936 2856 2945 3085 3228 3425 3834 5346 6039 7731
8163 9681 12064 15395 21952
Q1a) (8 points)
Make a box plot of the given data. Use Tukey’s method.
Calculations:
Q1 is the 7th observation. so Q1=744 1p
Q2 is the 13th observation. so Q2=2945 1p
Q3 is the 7th observation from behind. so Q3=6039 1p
IQR = 6039 – 744 = 5295 1p
Fences: 744 – 1.5×5295 = –7198.5 and 6039 + 1.5×5295 = 13981.5 1p
Outliers: 15395, 21952 1p
Box plot of charges: 2p
___________
|─│____│______│─────────────│ o o
┬─────────┬─────────┬─────────┬─────────┬─────────┬ charges
0 5000 10000 15000 20000 25000
Q1b) (3 points)
Would you rather use the mean or the median to describe the center of the distribution. Explain.
Median.
The distribution has extreme values on the right side of the distribution. and the mean is
sensitive to such values. while the median is not. Therefore. the median gives a better
indication of the charge by a typical card holder. 3p only for good explanation
Q1c) (3 points)
What information about the distribution do you get from the length of the box?
The length of the box is the inter quartile range. 1p
It shows the range of the middle 50% of the observations. 2p
2
