Question 2 [20]
The number of Golden Key candidates for at RBS of different ages in the 2023 academic year is shown in the table below.
Candidate age (years)
Number of Candidates
10 < 20
4
20 < 30
9
30 < 40
18
40 < 50
26
50 < 60
17
60 < 70
6
For these patients, determine the:
2.1 mean age of the candidates. (3)
2.2 modal age of the candidates. (3)
2.3 Median age of the candidates (4)
2.4 Determine the coefficient of variation and comment on your findings. (10)
Question 5 [20]
A market basket consists of three goods: apples, bananas, and oranges. The quantity and price of each good in the base period and the current period are given below.
Quantity (2020)
Price (2020)
Quantity (2022)
Price (2022)
Apples
20
R2
25
R2.50
Bananas
30
R1
40
R1.20
Oranges
10
R3
15
R3.50
Calculate and interpret the following price and quantity indices.
5.1 Laspeyre Price Index (5)
5.2 Paasche Price Index (5)
5.3 Laspeyre Quantity Index (5)
5.4 Paasche Price Index (5)