C723 BUS 3100
Quantitative Analysis For Business
OA REVIEW 1
© 2024/2025
,1. Which of the following methods is commonly used to forecast
sales in a new market?
a) Time Series Analysis
b) Expert Judgment
c) Simple Linear Regression
d) Moving Average
Answer: b) Expert Judgment
Rationale: In new markets with little historical data, expert
judgment is often used to generate forecasts based on the
experience and insights of knowledgeable individuals.
2. In market segmentation analysis, which technique is typically
employed to identify distinct groups within customer data?
a) Principal Component Analysis
b) Linear Regression
c) Cluster Analysis
d) Analysis of Variance
Answer: c) Cluster Analysis
Rationale: Cluster analysis helps categorize customers into
distinct segments based on similarities in their characteristics or
behaviors.
© 2024/2025
, 3. Which of the following provides insight into the relationship
between price changes and sales volume?
a) Correlation Coefficient
b) Elasticity of Demand
c) Regression Analysis
d) Standard Deviation
Answer: b) Elasticity of Demand
Rationale: Price elasticity measures how sensitive the quantity
demanded of a good is to a change in its price.
4. What does a p-value less than 0.05 typically indicate in
hypothesis testing?
a) Accept the null hypothesis
b) Reject the null hypothesis
c) No significance of the data
d) Strong correlation
Answer: b) Reject the null hypothesis
Rationale: A p-value below the threshold indicates that the
evidence is strong enough to reject the null hypothesis in favor of
the alternative.
© 2024/2025
Quantitative Analysis For Business
OA REVIEW 1
© 2024/2025
,1. Which of the following methods is commonly used to forecast
sales in a new market?
a) Time Series Analysis
b) Expert Judgment
c) Simple Linear Regression
d) Moving Average
Answer: b) Expert Judgment
Rationale: In new markets with little historical data, expert
judgment is often used to generate forecasts based on the
experience and insights of knowledgeable individuals.
2. In market segmentation analysis, which technique is typically
employed to identify distinct groups within customer data?
a) Principal Component Analysis
b) Linear Regression
c) Cluster Analysis
d) Analysis of Variance
Answer: c) Cluster Analysis
Rationale: Cluster analysis helps categorize customers into
distinct segments based on similarities in their characteristics or
behaviors.
© 2024/2025
, 3. Which of the following provides insight into the relationship
between price changes and sales volume?
a) Correlation Coefficient
b) Elasticity of Demand
c) Regression Analysis
d) Standard Deviation
Answer: b) Elasticity of Demand
Rationale: Price elasticity measures how sensitive the quantity
demanded of a good is to a change in its price.
4. What does a p-value less than 0.05 typically indicate in
hypothesis testing?
a) Accept the null hypothesis
b) Reject the null hypothesis
c) No significance of the data
d) Strong correlation
Answer: b) Reject the null hypothesis
Rationale: A p-value below the threshold indicates that the
evidence is strong enough to reject the null hypothesis in favor of
the alternative.
© 2024/2025
