WGU C723 QUANTITATIVE ANALYSIS FOR BUSINESS
QUESTIONS AND ANSWERS
Quantitative Analysis - Answers - Analysis using objective data
Qualitative Analysis - Answers - Analysis using subjective Data
Response Variable - Answers - Another name for the dependent variable
Explanatory Variable - Answers - Another name for the dependent variable
Negative Correclation - Answers - Correlation that occurs when one variable increases
and the other variable decreases
Positive Correlation - Answers - Correlation that occurs when one variable and the other
Nonnumeric Data - Answers - Data of a form such as words, symbols, or letters that are
not used in calculations
Numerical Data - Answers - Data represented by numbers
Trendline - Answers - Line that shows the general direction of the relationship of points
over time
Objective Data - Answers - Measurable data often obtained through observations or
testing
Correlation - Answers - Measure of the strength of the linear relationship between
variables
-does not apply cause and affect "shoe size doesn't affect reading ability even though
they are closely related in grades school"
-used to compare two variables to determine the strength of the linear relationship
between them
Metric - Answers - Measurement used to gauge performance
Forecasting - Answers - Method or process used to make short range decisions where
the actual outcomes have not yet occurred
Subjective Data - Answers - Non-measurable data often obtained through surveys or
interviews
Descriptive Statistics - Answers - The analysis of data, to describe, interpret, and
summarize data in a meaningful way
, Inferential Statistics - Answers - The analysis of data to reach conclusions,
generalizations, and estimations based on a small sample of the population
Statistics - Answers - The gathering, organizing, and interpreting of numerical data
Moderating Variable - Answers - Variable that changes the effect of independent
variable on the dependent variable
Dependent Variable - Answers - Variable that is being measured or affected
Independent Variable - Answers - Variable that is free to change in a given model
Quantitative Analysis: models - Answers - -Decision Tree
-Network Diagram
-ANOVA
-Linear regression
-Linear Programming
-Break-even Analysis
-Simulation
-and more
Qualitative Analysis: Models - Answers - - Surveys
-Brainstorming Session
-Raking (favorites)
-Subjective Judgment
-and more
PEMDAS - Answers - Parentheses, Exponents, Multiplication, Division, Addition,
Subtraction
* Please excuse my dear aunt sally
Y hat - Answers - predictive value
Expressions - Answers - consist of numbers, variables and operations
* do not have <,>,=
Equations and Inequalities - Answers - do have <.>=
Linear Equation - Answers - Type of equation when the slope between any two points is
constant
Coefficients are the numbers in front of a variable, while constants stand alone. -
Answers -
Mean - Answers - Average
QUESTIONS AND ANSWERS
Quantitative Analysis - Answers - Analysis using objective data
Qualitative Analysis - Answers - Analysis using subjective Data
Response Variable - Answers - Another name for the dependent variable
Explanatory Variable - Answers - Another name for the dependent variable
Negative Correclation - Answers - Correlation that occurs when one variable increases
and the other variable decreases
Positive Correlation - Answers - Correlation that occurs when one variable and the other
Nonnumeric Data - Answers - Data of a form such as words, symbols, or letters that are
not used in calculations
Numerical Data - Answers - Data represented by numbers
Trendline - Answers - Line that shows the general direction of the relationship of points
over time
Objective Data - Answers - Measurable data often obtained through observations or
testing
Correlation - Answers - Measure of the strength of the linear relationship between
variables
-does not apply cause and affect "shoe size doesn't affect reading ability even though
they are closely related in grades school"
-used to compare two variables to determine the strength of the linear relationship
between them
Metric - Answers - Measurement used to gauge performance
Forecasting - Answers - Method or process used to make short range decisions where
the actual outcomes have not yet occurred
Subjective Data - Answers - Non-measurable data often obtained through surveys or
interviews
Descriptive Statistics - Answers - The analysis of data, to describe, interpret, and
summarize data in a meaningful way
, Inferential Statistics - Answers - The analysis of data to reach conclusions,
generalizations, and estimations based on a small sample of the population
Statistics - Answers - The gathering, organizing, and interpreting of numerical data
Moderating Variable - Answers - Variable that changes the effect of independent
variable on the dependent variable
Dependent Variable - Answers - Variable that is being measured or affected
Independent Variable - Answers - Variable that is free to change in a given model
Quantitative Analysis: models - Answers - -Decision Tree
-Network Diagram
-ANOVA
-Linear regression
-Linear Programming
-Break-even Analysis
-Simulation
-and more
Qualitative Analysis: Models - Answers - - Surveys
-Brainstorming Session
-Raking (favorites)
-Subjective Judgment
-and more
PEMDAS - Answers - Parentheses, Exponents, Multiplication, Division, Addition,
Subtraction
* Please excuse my dear aunt sally
Y hat - Answers - predictive value
Expressions - Answers - consist of numbers, variables and operations
* do not have <,>,=
Equations and Inequalities - Answers - do have <.>=
Linear Equation - Answers - Type of equation when the slope between any two points is
constant
Coefficients are the numbers in front of a variable, while constants stand alone. -
Answers -
Mean - Answers - Average
