**KNOW YOUR ACADA**

**COUNT DOWN TO WASSCE/NECOSSCE, UME AND POST UME EXAMS**

**NATURE AND SCOPE OF ECONOMICS Game 2**

- The hourly wage of five employees of the PHCN is 2.52, 3.96, 3.28, 9.20, 3.75 respectively. The median hourly wages is (a) 2.52 (b) 3.28 (c) 9.20 (d) 3.96
- A collection of data between the highest and lowest number is referred to as (a) disjoint data (b) raw data (c) class interval (d) frequency
- The difference between the highest and the lowest number in a set of data is the (a) range (b) median (c) variance (d) mode
- The most occurring value in a given data is the (a) mode (b) median (c) mean (d) range
- Data presented in tables are usually arranged in (a) charts and tables (b) rows and columns (c) graphs and rows (d) pictograms and rows (e) maps and pie charts
- Which of the following is not a set of measure of central tendency (a) mode and median (b) mean and median (c) mean and mode (d) mode, mean and median

Use the table below to answer questions 7 and 8

Price (N) |
Quantity (Kg) |

40 | 6 |

48 | 5 |

55 | 4 |

60 | 3 |

70 | 2 |

- What is the mean quantity (a) 5kg (b) 6kg (c) 3kg (d)4kg
- Find the mean of the distribution (a) N54 (b)N51 (c) N56 (d) N59
- The diagram above is a (a) pie chart (b) bar chart (c) line graph (d) histogram
- What is the formula for standard deviation_________________

**THEORY (ATTEMPT ALL QUESTIONS)**

Year |
2000 |
2001 |
2002 |
2003 |
2004 |

Saving | 100 | 120 | 120 | 180 | 200 |

Current | 65 | 75 | 70 | 100 | 130 |

Fixed deposit | 40 | 45 | 60 | 145 | 50 |

- Present in component bar chart
- Given the demand function Qs=400+20p, find the quantity demand when price is (a) 20 (b) 18 (c) 8
- The demand function is given as Qd=50+2/3p. The supply function is also given as Qs=p+28. Find the equilibrium price and quantity.
- Define graph
- Define table

Sector |
Amount (million) |

Education | 6250 |

Mining | 2150 |

Agriculture | 4300 |

Communication | 2400 |

Health | 2900 |

- Represent the following information in pie chart

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