Wgu C723 Quantitative Analysis For Business, C723 Quantitative Analysis For Business (Pa), C723 Quantitative Analysis For Business Test Bank.pdf

WGUC723QuantitativeAnalysisforBusiness
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1. Quantitative Analysis:Analysis using objective data vb b
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2. Qualitative Analysis:Analysis using subjective Data vb b
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3. ResponseVariable:Another name forthe dependent variable b
v b
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4. ExplanatoryVariable:Another name for the dependent variable b
v b
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5. NegativeCorreclation:Correlationthatoccurswhenonevariableincreasesand the
b
v b
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other variable decreases
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6. Positive Correlation:Correlation that occurs when one variable and the other
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7. NonnumericData:Dataofaformsuchaswords,symbols,orlettersthatarenot used in b
v b
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calculations
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8. Numerical Data:Data represented by numbers vb b
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9. Trendline:Linethatshowsthegeneraldirectionoftherelationship time ofpointsover b
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10. ObjectiveData:Measurabledataoftenobtainedthroughobservationsortesting b
v b
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11. Correlation:Measureofthestrengthofthelinearrelationshipbetweenvariables b
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-doesnotapplycauseandaffect"shoesizedoesn'taffectreadingabilityeventhough they a
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closely related in grades school"
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-used to compare two variables to determine the strength of the linear relationship betwee
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them
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12. Metric:Measurement used to gauge performance b
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13. Forecasting:Methodorprocessusedtomakeshortrangedecisionswherethe b
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actual outcomes have not yet occurred
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14. SubjectiveData: Non-measurabledataoftenobtainedthroughsurveysorinter- b
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views
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15. DescriptiveStatistics: Theanalysisofdata,todescribe,interpret,andsumma- rize b
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data in a meaningful way
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16. InferentialStatistics:Theanalysisofdatato reachconclusions,generaliza- vb b
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tions, and estimations based on a small sample of the population
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17. Statistics:The gathering, organizing, and interpreting of numerical data b
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18. ModeratingVariable:Variablethatchangestheeffectofindependentvariable on b
v b
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the dependent variable
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19. DependentVariable:Variablethatisbeingmeasuredoraffected b
v b
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20. IndependentVariable:Variablethat isfree tochange ina given model b
v b
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1/ 9 vb vb

, WGUC723QuantitativeAnalysisforBusiness vb vb vb vb vb




21. Quantitative Analysis:models:-DecisionTree vb b
v b
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-Network Diagram vb




-ANOVA
-Linear regression vb




-Linear Programming vb




-Break-evenAnalysis vb




-Simulation
-and more vb




22. Qualitative Analysis:Models:- Surveys vb b
v b
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-Brainstorming Session vb




-Raking (favorites) vb




-SubjectiveJudgment vb




-and more vb




23. PEMDAS:Parentheses,Exponents,Multiplication,Division,Addition,Subtrac- b
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tion
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* Please excuse my dear aunt sally vb vb vb vb vb




24. Y hat:predictive value vb b
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25. Expressions:consist of numbers, variables and operations b
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* do not have <,>,=
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26. Equations and Inequalities:do have <.>= vb vb b
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27. LinearEquation:Typeofequationwhentheslopebetweenanytwopointsis vb b
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constant
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28. Coefficientsare the numbers infront of a variable,whileconst ants stand vb vb vb vb vb vb vb vb b
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alone.:
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29. Mean:Average b
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- add all numbers , divide by total of numbers added ie 2+2+2+2=8 8/4=2
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30. Median:Middle b
v




-arrangenumberssmallesttolargest,whichnumberisinthemiddle,ifevenaddthe two
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numbers and divide by 2
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31. Mode:Most b
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-which number occurs most often vb vb vb vb




32. Standard Deviation Steps:1.Calculate the mean of the data set vb vb b
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2. Calculate each variable (x) minus the mean.(x-x )(ie.subtractthemeanfromeach vb vb vb vb vb vb vb vb vb vb vb vb




value of the data set)
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3. Square each value left over (square numbers from step 2) vb vb vb vb vb vb vb vb vb




4. Add them all together (add all the squares from step 3)
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2/ 9 vb vb