Today we have a question relating to the new 2019 syllabus for P1.

The question was:

Calculate the Standard Deviation on the following project:

Profit Probability £500 0.2 £800 0.65 £1,100 0.15

This question relates to ‘D: Dealing with Uncertainty in the Short Term’ and is a slightly different version of the question in one of our free mock exams.

The correct answer was Smile, with…

£177

Profit | Probability | Expected | Deviation | DeviationSquared | Probability | D.Squ x P | |

£500 | 0.2 | £100 | £785 | £285 | £81,225 | 0.2 | £16,245 |

£800 | 0.65 | £520 | £785 | (£15) | £225 | 0.65 | £146 |

£1,100 | 0.15 | £165 | £785 | (£315) | £99,225 | 0.15 | £14,884 |

£785 | £31,275 | ||||||

176.847392 |

For more free questions use our Free CIMA Mock Exams for the 2019 syllabus use the menu above to access our little shop, at the same time you’ll have the option to upgrade to our + package which includes 50% more questions, feedback and both revision and timed assessment modes plus much more.