Section 1 (Quantitative Analysis):

1.Explain the process of problem solving. Provide an example.

2.What is Quantitative analysis? What is the relationship between the Qualitative analysis and Decision Making?

The problem:

The Almassar Company that produces a Product X is looking to enhance their sales. The accountant and the sales manager are looking into the sales data in order to identify problems and develop solutions.

The sales data are presented in the following table:

Selling price per unit 5 AED

Variable cost per unit 3 AED

Fixed Costs 170 AED

1.What is the profit if we sale 200 unit of the Product X?

2.What happens if we sell 50 unit?

3.What is the Break-even point for the company ALMASSAR?

Section 2 (Probability):

1. What is the sample space if we toss two fair dices? What is the total number of outcomes?
2. What is the possibility of having at least a 2?
3. What is the possibility of having a 4 and a 6?
4. What is the possibility of having a double 6?
5. What is the possibility of having a 0?

Section 3 (Bayes Theorem):

ALMASSAR Company is looking to determine the customer behavior regarding their product. We consider the following variables:

D is the indicator variable of the event "The customer is Disappointed" [D=0, D=n]

F is the indicator variable of the event "The customer gives a Feedback" [F=0, F=n]

Based on the field study we did discover the following relationship between D and F:

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