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Q&As
C723 Quantitative Analysis For
Business Questions And Answers
Latest Update (2025)!!
Decision models - Answer are used to identify a business
problem and develop alternative solutions.
Payoff tables - Answer will quantify the costs and benefits of
each solution alternative.
Decision trees - Answer will be used to identify the
alternatives and probabilities of occurrence.
Network analysis - Answer refers to the network of activities
required to complete a business project.
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Q&As
Quantitative analysis - Answer provides methods to analyze
large or small amounts of data to look for patterns, trends, and
relationships.
Mathematical analysis - Answer can help managers make
strategic decisions and find statistically supported solutions to
business questions. These are functional areas over a period of
time.
Data may be categorized as either - Answer subjective or
objective.
Subjective data - Answer obtained through surveys and
interviews, are considered non-measurable,
data typically include personal perceptions, such as likes, dislikes,
attitudes, and opinions.
Objective data are - Answer measurable and typically arise
from observation or testing in business areas like sales,
operations, manufacturing, and logistics.
Data must be valid: that is, the data must accurately represent
the true business relationship at hand. Further, the data must be
reliable: if we sought to characterize a particular business
relationship by gathering data several different times (different
samples), the data would reflect the relationship the same way
with every sample.
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Q&As
Examples of quantitative analysis - Answer cost-benefit
analysis, inventory analysis, logistical analysis, and forecasting
revenue.
quantitative analysis approach - Answer defines a problem
and then develops a mathematical model to represent the
particular business situation. The model allows managers to make
inferences regarding the data.
Total Revenue - Answer p=$xq $X is the revenue earned per
item sold, Q is the quantity of items sold.
Company XYZ can use this equation to forecast its revenue if X
remains constant
Steps in Quantitative Analysis - Answer 1. Define problem.
2. Develop mathematical model.
3. Prepare and input data.
4. Find best solution.
5. Test solution.
6. Analyze results.
7. Implement solution.
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Q&As
Cause and effect use - Answer independent and dependent
variables. A dependent variable is the variable that is being
measured, or affected. The independent variable is free to change
in a given model.
The dependent variable is affected by the changes in the causing
independent variable. Although only one dependent variable is
considered, many independent variables can have an effect.
fishbone diagram is sometimes - Answer used to determine
the cause of a problem.
moderating relationship - Answer the relationship between
the dependent and independent variables depends on the level of
the moderating variable.
mediating variable - Answer explains the relationship
between the dependent and independent variables.
Scatter diagrams - Answer are used to graph pairs of
numbers to determine the relationship.
trend line - Answer The line that shows the general direction
of the relationship of points over time
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Q&As
C723 Quantitative Analysis For
Business Questions And Answers
Latest Update (2025)!!
Decision models - Answer are used to identify a business
problem and develop alternative solutions.
Payoff tables - Answer will quantify the costs and benefits of
each solution alternative.
Decision trees - Answer will be used to identify the
alternatives and probabilities of occurrence.
Network analysis - Answer refers to the network of activities
required to complete a business project.
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
Q&As
Quantitative analysis - Answer provides methods to analyze
large or small amounts of data to look for patterns, trends, and
relationships.
Mathematical analysis - Answer can help managers make
strategic decisions and find statistically supported solutions to
business questions. These are functional areas over a period of
time.
Data may be categorized as either - Answer subjective or
objective.
Subjective data - Answer obtained through surveys and
interviews, are considered non-measurable,
data typically include personal perceptions, such as likes, dislikes,
attitudes, and opinions.
Objective data are - Answer measurable and typically arise
from observation or testing in business areas like sales,
operations, manufacturing, and logistics.
Data must be valid: that is, the data must accurately represent
the true business relationship at hand. Further, the data must be
reliable: if we sought to characterize a particular business
relationship by gathering data several different times (different
samples), the data would reflect the relationship the same way
with every sample.
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
Q&As
Examples of quantitative analysis - Answer cost-benefit
analysis, inventory analysis, logistical analysis, and forecasting
revenue.
quantitative analysis approach - Answer defines a problem
and then develops a mathematical model to represent the
particular business situation. The model allows managers to make
inferences regarding the data.
Total Revenue - Answer p=$xq $X is the revenue earned per
item sold, Q is the quantity of items sold.
Company XYZ can use this equation to forecast its revenue if X
remains constant
Steps in Quantitative Analysis - Answer 1. Define problem.
2. Develop mathematical model.
3. Prepare and input data.
4. Find best solution.
5. Test solution.
6. Analyze results.
7. Implement solution.
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
Q&As
Cause and effect use - Answer independent and dependent
variables. A dependent variable is the variable that is being
measured, or affected. The independent variable is free to change
in a given model.
The dependent variable is affected by the changes in the causing
independent variable. Although only one dependent variable is
considered, many independent variables can have an effect.
fishbone diagram is sometimes - Answer used to determine
the cause of a problem.
moderating relationship - Answer the relationship between
the dependent and independent variables depends on the level of
the moderating variable.
mediating variable - Answer explains the relationship
between the dependent and independent variables.
Scatter diagrams - Answer are used to graph pairs of
numbers to determine the relationship.
trend line - Answer The line that shows the general direction
of the relationship of points over time
Downloaded by madiba South Africa stuvia ()
