Which of the following statements concerning management information is/are correct?(1) A user of management information should have all the information he needs to dohis job properly(2) A management information report must be relevant for a variety of purposes(3) A management information report should contain a lot of detail to ensure completeaccuracy
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1 .Which of the following selection methods provide a sample which is representative of apopulation?(1) Cluster(2) Multi-stage(3) Quota sampling(4) Simple random
A 1 and 3 only B 1 and 4 only C 2 and 3 only D 2 and 4 only
2 .Consider the following incomplete statements relating to features of managementinformation:(1) Communicated in writing(2) Presented in report format(3) Supported by calculations(4) Timely and clear to the userWhich of the above are necessary features of useful management information?
A 4 only B 2 and 3 only C 1 and 4 only D 1, 2 and 3 only
3 .Which of the following is an example of a cluster sample?
A Selecting every 20th entry in a membership listing B Taking the name of every company listed in a business telephone directory C Selecting every entry in a telephone directory with the same postal or zip code D Generating a list of numbers by random numbers and matching them to entries in atrade d...
4 .Consider the following statements relating to management information:Statement 1: Management information should have some value otherwise it would not beworth the cost of collecting and communicating itStatement 2: Management information only needs to be accurate enough for its purposeAre the statements TRUE or FALSE?Statement 1 Statement 2
A True True B True False C False True D False False
5 .A publishing company is conducting research into the nation’s reading habits. It randomlyselects a number of locations from around the country and then interviews everyone who livesin these locations.What is this approach to sampling known as?
A Cluster sampling B Quota sampling C Stratified sampling D Systematic sampling
7 .The following statements relate to stratified random sampling:(1) Every item in the population has an equal chance of being selected.(2) The sample proportionately represents items in different sub-populations.(3) The sample is more representative of the target populations than the accessiblepopulation.Which of the statements, if any, is true?
A 1 only B 2 only C 3 only D None of them
8 .
A Annual factory power cost where the electricity supplier sets a tariff based on afixed charge plus a constant unit cost for consumption but subject to a maximumannual charge. B Weekly total labour cost when there is a fixed wage for a standard 40 hour week butovertime is paid at a premium rate. C ...
9 .An organisation manufactures a single product. The total cost of making 4,000 units is$20,000 and the total cost of making 20,000 units is $40,000. Within this range of activity thetotal fixed costs remain unchanged.What is the variable cost per unit of the product?
A $0·80 B $1·20 C $1·25 D $2·00
10 .When total purchases of raw material exceed 30,000 units in any one period then all unitspurchased, including the initial 30,000, are invoiced at a lower cost per unit.Which of the following graphs is consistent with the behaviour of the total materials costin a period?
A B C D
