QUANTITATIVE ANALYSIS FOR MANAGEMENT
COMPREHENSIVE SOLVED QUESTIONS AND
COMPLETE ANSWERS
◉ Appropriate and useful quantitative analysis ensures the use of
________ data to understand a business situation.
Answer: valid and measurable
◉ When is quantitative analysis most useful?.
Answer: When the problem being evaluated can be represented by
discrete data that are valid, objective, and reliable.
◉ Under what circumstances could quantitative analysis be used
successfully?.
Answer: When the problem being analyzed can be numerically
represented and valid and reliable data are available
◉ Which of the following accurately describes quantitative analysis?.
Answer: Ensuring the use of valid, reliable, and objectively
measurable data in order to understand a phenomenon
,The hallmark of quantitative analysis is ensuring the use of only
valid, objective, and reliable data to begin with. That is, we must
ensure that the underlying data are a true and repeatable reflection
of reality. Also, the data used must be measurable in nature: that is,
objective and not subjective. The phenomenon being evaluated must
be quantifiable.
◉ What would be the best reason for not wanting to use quantitative
analysis?.
Answer: When the problem being evaluated lacks the presence of
objective, valid, reliable, and measurable data to use for the analysis
◉ dependent variable.
Answer: variable that is being measured or affected by the changes
in the causing independent variable
◉ independent variable.
Answer: free to change in a given model
◉ Fisbone Diagram.
Answer: Used to determine the cause of a problem
◉ moderating variable.
, Answer: third variable that changes the established effect of the
independent variable on the dependent variable
◉ mediating variable.
Answer: explains the relationship between independent and
dependent variable
◉ example of mediating variable.
Answer: Having a personal trainer helps gym members stick with an
exercise routine. The ____ variable might be that the trainer
motivates the members, which in turn causes them to stick with
their exercise routine. The motivation is the mediating variable and
explains why people with personal trainers stick with their exercise
routines more than those who do not.
◉ Scatter diagrams.
Answer: used to graph pairs of numbers to determine the
relationship
◉ Trend line.
Answer: line that shows the general direction of the relationship of
points over time
COMPREHENSIVE SOLVED QUESTIONS AND
COMPLETE ANSWERS
◉ Appropriate and useful quantitative analysis ensures the use of
________ data to understand a business situation.
Answer: valid and measurable
◉ When is quantitative analysis most useful?.
Answer: When the problem being evaluated can be represented by
discrete data that are valid, objective, and reliable.
◉ Under what circumstances could quantitative analysis be used
successfully?.
Answer: When the problem being analyzed can be numerically
represented and valid and reliable data are available
◉ Which of the following accurately describes quantitative analysis?.
Answer: Ensuring the use of valid, reliable, and objectively
measurable data in order to understand a phenomenon
,The hallmark of quantitative analysis is ensuring the use of only
valid, objective, and reliable data to begin with. That is, we must
ensure that the underlying data are a true and repeatable reflection
of reality. Also, the data used must be measurable in nature: that is,
objective and not subjective. The phenomenon being evaluated must
be quantifiable.
◉ What would be the best reason for not wanting to use quantitative
analysis?.
Answer: When the problem being evaluated lacks the presence of
objective, valid, reliable, and measurable data to use for the analysis
◉ dependent variable.
Answer: variable that is being measured or affected by the changes
in the causing independent variable
◉ independent variable.
Answer: free to change in a given model
◉ Fisbone Diagram.
Answer: Used to determine the cause of a problem
◉ moderating variable.
, Answer: third variable that changes the established effect of the
independent variable on the dependent variable
◉ mediating variable.
Answer: explains the relationship between independent and
dependent variable
◉ example of mediating variable.
Answer: Having a personal trainer helps gym members stick with an
exercise routine. The ____ variable might be that the trainer
motivates the members, which in turn causes them to stick with
their exercise routine. The motivation is the mediating variable and
explains why people with personal trainers stick with their exercise
routines more than those who do not.
◉ Scatter diagrams.
Answer: used to graph pairs of numbers to determine the
relationship
◉ Trend line.
Answer: line that shows the general direction of the relationship of
points over time
