F2 (MA/FMA) – Chapter 4b – PART B – CBE MCQs – ACCA

These are ACCA F2 (MA/FMA) Management Accounting MCQs for Part-B of the Syllabus “Data analysis and statistical techniques”.

These MCQs are designed in a way that students could better understand the exam format and get used to practice online. This approach will reduce exam stress and enable students to prepare better.

We request the students, Not to solve the MCQs until they have learned and finished the entire F2 (MA/FMA) Management Accounting Chapter 4b – Summarising and analysing data and Syllabus Area Part-B “Data analysis and statistical techniques”.

All the questions are compulsory, so do not skip any.

INFORMATION ABOUT THESE MCQs Test/Quiz

Course: ACCA – Associations of Chartered Certified Accountants
Fundamental Level: Knowledge, FIA – Foundation in Accounting
Subject: Management Accounting
Paper: F2 – MA/FMA
Chapter: Summarising and analysing data
Chapter Number: 04b of the Practice and Exam Kit
Syllabus Area: B – Data analysis and statistical techniques
Questions Type: CBE MCQs
Exam Section Type: Section A

Syllabus Area

These Multiple Choice Questions (MCQs) cover the Syllabus Area Part B of the Syllabus; Data analysis and statistical techniques of ACCA F2 (MA/FMA) Management Accounting Module.

Time

These multiple-choice questions (MCQs) are not timed, allowing students to solve them without feeling any pressure and to pay proper attention to the questions.

Result

Students can see their result at the end of the Quiz. They can also be able to see the number of correct and wrong questions. Moreover, the explanation of wrong questions.

Types of Questions

MCQs: Choose one from the given options.
Multiple choice: Choose all those answers which seem correct/ or incorrect to you, as per the requirement of the question. Keep your eye on the wording “(select all those which are correct/ or incorrect)“.
Drop-down: Select from the list provided.
Type numbers: Type your answer in numbers as per the requirement of the question.


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F2 - Chapter 4b - Part B - MCQs

Course: ACCA - FIA
Subject: F2 (MA/FMA) Management Accounting
Chapter: 4b - Summarising and analysing data
Syllabus Area: B - Data analysis and statistical techniques
Exam Section: Section A
Questions type: MCQs
Time: No Time Limit

INSTRUCTIONS

  1. If you are using mobile, turn on the mobile rotation and solve the MCQs on wide screen for better experience.

REQUEST

  1. Please rate the quiz and give us feedback once you completed the quiz.
  2. Share with ACCA students on social media such as, Facebook Groups, Whatsapp, Telegram, etc.

1 / 28

A normal distribution is to be split into four equal areas, two to the right of Z = 0 and two to the left of Z = 0 (Z = 0 at the mean).

Using normal distribution tables, the |Z| value that splits the area in this way is closest to which of the following?

2 / 28

A company sells and manufactures product SX. The selling price of the product is $10 per unit and estimates of demand and variable costs of sales are as follows.

Probability Demand
Units		 Probability Variable cost per unit
$
0.1 5,000 0.1 3.00
0.6 6,000 0.5 3.50
0.3 8,000 0.3 4.00
0.1 4.50

The unit variable costs do not depend on the volume of sales.
Fixed costs will be $30,000.

What is the EV of unit variable costs?

$______  (to 2 decimal places)

3 / 28

Which TWO of the following statements are true?

4 / 28

A company sells and manufactures product SX. The selling price of the product is $10 per unit and estimates of demand and variable costs of sales are as follows.

Probability Demand
Units		 Probability Variable cost per unit
$
0.1 5,000 0.1 3.00
0.6 6,000 0.5 3.50
0.3 8,000 0.3 4.00
0.1 4.50

The unit variable costs do not depend on the volume of sales.
Fixed costs will be $30,000.

What is the EV of profit?

$______

5 / 28

A normal distribution is to be split into eight equal areas, four to the right of Z = 0 and four to the left of Z = 0 (Z = 0 at the mean).

Using normal distribution tables, the |Z| value that splits the area in this way is closest to which of the following?

6 / 28

A company sells and manufactures product SX. The selling price of the product is $10 per unit and estimates of demand and variable costs of sales are as follows.

Probability Demand
Units		 Probability Variable cost per unit
$
0.1 5,000 0.1 3.00
0.6 6,000 0.5 3.50
0.3 8,000 0.3 4.00
0.1 4.50

The unit variable costs do not depend on the volume of sales.
Fixed costs will be $30,000.

What is the EV of demand?

______ units

7 / 28

A normal distribution has a mean of 650 and a variance of 100.

What is the upper quartile of this distribution?

8 / 28

The following scores are observed for the times taken to complete a task, in minutes.

12, 34, 14, 15, 21, 24, 9, 17, 11, 8

What is the median score? (two decimals 00.00)

9 / 28

A group of shoppers were interviewed and asked how many loaves of bread they would need to buy from the bakers over a one-week period. The results are as follows.

Number of loaves Number of shoppers
0 2
1 22
2 32
3 2
4 34
5 6
6 12

What is the mode of the number of loaves needed per shopper in a one-week period?

10 / 28

A large publishing company awards a 14% salary increase to every employee.

Which of the following statements about the distribution of the company's salaries is/are correct?

  1. The standard deviation will remain unaltered
  2. The standard deviation will increase by 14%
  3. The coefficient of variation will remain unaltered

11 / 28

A car travels 20 miles at 30 mph, then 10 miles at 60 mph.

What is the mean speed for the whole journey of 30 miles?

12 / 28

The coefficient of variation is used to measure which of the following?

13 / 28

A normal distribution has a mean of 75 and a variance of 25.

What is the upper quartile of this distribution?

14 / 28

Which of the following sets of data have the widest spread?

A B C D
Mean 150 175 200 250
Standard deviation 25 20 25 30

15 / 28

A factory employs staff in four departments for which the average (mean) wage per employee per week is as follows.

Department W X Y Z
Mean wage $50 $100 $70 $80
Number of employees 20 5 10 5

What is the average (mean) wage per employee per week in this factory?

16 / 28

A normal distribution has a mean of 60 and a variance of 25.

What is the probability of a score of 72 or more? (to 4 decimal places)

17 / 28

A company is bidding for three contracts which are awarded independently of each other. The board estimates its chances of winning Contract A as 50%, of winning Contract B as 1 in 5 and of winning Contract C as 1 in 3. The profits from A, B and C are estimated to be $500,000, $800,000 and $900,000 respectively.

The expected value to the company of the profits from all three contracts will be closest to which of the following?

18 / 28

A normal distribution has a mean of 55 and a variance of 14.44.

The probability of a score of 59 or more is approximately which of the following?

19 / 28

What is the median of the scores 34, 23, 78, 12, 56, 43, 28, 9, 24 and 87?

20 / 28

A company must decide between two projects – Project A and Project B. The profits that might be generated from each project are as follows.

Project A Project B
Probability Profit
$		 Probability Profit/(loss)
&
0.45 4,000 0.64 8,000
0.55 2,000 0.36 (1,000)

Which project should be chosen and what is the associated expected value of profit?

21 / 28

A normal distribution has a mean of 150 and a variance of 6,944.

What percentage of the population is less than 210? (to two decimal places.)

22 / 28

The arithmetic mean of the following ten invoice values is $20:

 $X, $15, $22, $14, $21, $15, $20, $18, $27, $X.

What does $X equal?

23 / 28

Which of the following explains the essence of quota sampling?

24 / 28

Quality control of four independent production processes reveals the length of certain parts (in mm) to be as follows.

Process Mean Standard deviation
W 100 10
X 40 5
Y 80 8
Z 150 12

Which process has the largest relative variation, as measured by the coefficient of variation?

25 / 28

Production of aluminium tubes is normally distributed with a mean length of 50 cm and a standard deviation of 5 cm.

The percentage of tubes at least 57 cm long is closest to which of the following?

26 / 28

Singers Co is launching a new sewing machine. With television advertising, sales are estimated to achieve the following levels, with associated probabilities.

Sales unites Probability
1,000 0.3
4,000 0.5
8,000 0.2

What is the expected level of sales?

27 / 28

A normal distribution has a mean of 150, and a standard deviation of 20.

80% of the distribution is below which of the following (approximately)?

28 / 28

The weights of component X are normally distributed. The mean weight is 5,200kg and the standard deviation is 430kg.

What is the probability of a component X weighing more than 6,000kg?

Your score is

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