(a) Define the following terms as used in input-output analysis: (i) Transactions table. (3 marks) (ii) Primary inputs (3 marks) (iii) Technical coefficients. (3 marks) (b) Briefly explain the importance of input-output analysis. (6 marks)

Lilian is the project manager of J Construction Company. The Company is bidding on a contract to install telephone lines in a small town. It has identified the following activities along with their predecessor restrictions, expected times and worker requirements. Activity Predecessors Duration Weeks Crew Size Workers A – 4 […]

State, and explain four attributes of the Beta distribution which made it to be chosen as the distribution of activity times in project evaluation and review technique (PERT).

The auditing standard on subsequent events provide the basic principles and procedures as to the auditor’s responsibilities and deal with: i. Dating the auditor’s report ii. Audit procedures iii. Events after the date of the audit report. Required: a) In the context of subsequent events, what is the significance of […]

Consider the two person zero sum game between players A and B given by the following pay-off table; Player B Strategies 1 2 3 4 Player A Strategies 1 2 2 3 -1 2 4 3 2 6 Required: (i) Using the maximin and minimax values, is it possible to […]

Define the following terms used in game theory: (i) Dominance (3 marks) (ii) Saddle point (3 marks) (iii) Mixed strategy (3 marks) (iv) Value of the game (3 marks)

Specialists or experts are occasionally required by external auditors mainly in connection with the valuation assets and the determination of liabilities. Required: a) The necessity for reliance on specialist. (12 marks) b) The extent to which the specialist should be independent? (5 marks) c) Competence of the specialist. (3 marks)

The Tamu – Tamu Products Company Ltd. is considering an expansion into five new sales districts. The company has been able to hire four new experienced salespersons. Upon analyzing the new sales persons’ past experience in combination with a personality test which was given to them, the company assigned a […]

Define the following terms as used in linear programming: (i) Feasible solution (4 marks) (ii) Transportation problem. (4 marks) (iii) Assignment problem. (4 marks)