Explain the role and functions of a Value Added Tax tribunal.

The lifetimes of a certain type of electrical components are distributed with a mean of 800 hours and standard deviation of 160 hours. Required: (i) Identify situation (2 marks) (ii) If the manufacturer replaces all components that fail before the guaranteed minimum life time of 600 hours, what percentage of […]

A green grocer buys peaches in large consignments directly from a wholesaler. In view of the perishable nature of the commodity, the green grocer accepts that 15% of the supplied peaches will usually be unsalable. As he cannot check all the peaches individually, he selects a single batch of 10 […]

Vehicles pass a certain point on a busy single – lane road at an average rate of two per 10 second interval. Required: (i) Identify situation (3) (2 marks) (ii) Determine the probability that more than three cars pass this point during a 20 second interval. (3 marks)

In each of the following three situations, use the binomial, poisson, or normal distribution depending on which is the most appropriate. In each case, explain why you selected the distribution and draw attention to any feature which supports or casts doubt on the choice of distribution. (a) Situation 1: The […]

You are provided with the following details: 1. Installing a system of ventilation in the factory. 2. Legal expenses incurred when acquiring a new building 3. Giving the factory a fresh cost of plant 4. Replacing 200 tiles on a roof damaged by wind 5. Expenditure incurred in demolishing part […]

Timexa Limited provided the following details with respect to its fixed assets for the year of income 2005. 1. Building Sh. Class I Sh. Class II Sh. Class III Sh. Class IV Sh. 1,400,000 460,000 610,000 800,000 6,200,000 2. The industrial building had been constructed sometimes back in 2000 at […]

Company A sells all its output to company B for Sh. 200 per unit. The cost of the sales per week in company A are given by the function C = 2q2 + 40q + 80 where q is the value of weekly sales. Company B uses the output of […]

Explain briefly the application of calculus to economic models, especially in the context of maximizing contribution and minimizing costs.