WGU C723 Quantitative Analysis for
Business
1. Quantitative Analysis: Analysis using objective data
2. Qualitative Analysis: Analysis using subjective Data
3. Response Variable: Another name for the dependent variable
4. Explanatory Variable: Another name for the dependent variable
5. Negative Correclation: Correlation that occurs when one variable
increases and the other variable decreases
6. Positive Correlation: Correlation that occurs when one variable
and the other
7. Nonnumeric Data: Data of a form such as words, symbols, or
letters that are not used in calculations
8. Numerical Data: Data represented by numbers
9. Trendline: Line that shows the general direction of the of points
relationship time over
10. Objective Data: Measurable data often obtained through observations
or testing
11. Correlation: 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
12. Metric: Measurement used to gauge performance
13. Forecasting: Method or process used to make short range
decisions where the actual outcomes have not yet occurred
14. Subjective Data: Non-measurable data often obtained through
surveys or inter- views
15. Descriptive Statistics: The analysis of data, to describe, interpret,
and summa- rize data in a meaningful way
16. Inferential Statistics: The analysis of data to reach
conclusions, generaliza- tions, and estimations based on a small
sample of the population
17. Statistics: The gathering, organizing, and interpreting of numerica
data
18. Moderating Variable: Variable that changes the effect of
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, WGU C723 Quantitative Analysis for
Business
independent variable on the dependent variable
19. Dependent Variable: Variable that is being measured or affected
20. Independent Variable: Variable that is free to change in a
given model
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, WGU C723 Quantitative Analysis for
Business
21. Quantitative Analysis: models: -Decision Tree
-Network Diagram
-ANOVA
-Linear regression
-Linear Programming
-Break-even Analysis
-Simulation
-and more
22. Qualitative Analysis: Models: - Surveys
-Brainstorming Session
-Raking (favorites)
-Subjective Judgment
-and more
23. PEMDAS: Parentheses, Exponents, Multiplication, Division, Addition,
Subtrac- tion
* Please excuse my dear aunt sally
24. Y hat: predictive value
25. Expressions: consist of numbers, variables and operations
* do not have <,>,=
26. Equations and Inequalities: do have <.>=
27. Linear Equation: Type of equation when the slope between
any two points is constant
28. Coefficients are the numbers in front of a ants
variable, while const alone.: stand
29. Mean: Average
- add all numbers , divide by total of numbers added ie
2+2+2+2=8 8/4=2
30. Median: Middle
-arrange numbers smallest to largest, which number is in the middle,
if even add the two numbers and divide by 2
31. Mode: Most
-which number occurs most often
32. Standard Deviation Steps: 1. Calculate the mean of the data
set
2. Calculate each variable (x) minus the mean. (x-x ) (ie.subtract the
mean from each value of the data set)
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Business
1. Quantitative Analysis: Analysis using objective data
2. Qualitative Analysis: Analysis using subjective Data
3. Response Variable: Another name for the dependent variable
4. Explanatory Variable: Another name for the dependent variable
5. Negative Correclation: Correlation that occurs when one variable
increases and the other variable decreases
6. Positive Correlation: Correlation that occurs when one variable
and the other
7. Nonnumeric Data: Data of a form such as words, symbols, or
letters that are not used in calculations
8. Numerical Data: Data represented by numbers
9. Trendline: Line that shows the general direction of the of points
relationship time over
10. Objective Data: Measurable data often obtained through observations
or testing
11. Correlation: 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
12. Metric: Measurement used to gauge performance
13. Forecasting: Method or process used to make short range
decisions where the actual outcomes have not yet occurred
14. Subjective Data: Non-measurable data often obtained through
surveys or inter- views
15. Descriptive Statistics: The analysis of data, to describe, interpret,
and summa- rize data in a meaningful way
16. Inferential Statistics: The analysis of data to reach
conclusions, generaliza- tions, and estimations based on a small
sample of the population
17. Statistics: The gathering, organizing, and interpreting of numerica
data
18. Moderating Variable: Variable that changes the effect of
1 /
18
, WGU C723 Quantitative Analysis for
Business
independent variable on the dependent variable
19. Dependent Variable: Variable that is being measured or affected
20. Independent Variable: Variable that is free to change in a
given model
2 /
18
, WGU C723 Quantitative Analysis for
Business
21. Quantitative Analysis: models: -Decision Tree
-Network Diagram
-ANOVA
-Linear regression
-Linear Programming
-Break-even Analysis
-Simulation
-and more
22. Qualitative Analysis: Models: - Surveys
-Brainstorming Session
-Raking (favorites)
-Subjective Judgment
-and more
23. PEMDAS: Parentheses, Exponents, Multiplication, Division, Addition,
Subtrac- tion
* Please excuse my dear aunt sally
24. Y hat: predictive value
25. Expressions: consist of numbers, variables and operations
* do not have <,>,=
26. Equations and Inequalities: do have <.>=
27. Linear Equation: Type of equation when the slope between
any two points is constant
28. Coefficients are the numbers in front of a ants
variable, while const alone.: stand
29. Mean: Average
- add all numbers , divide by total of numbers added ie
2+2+2+2=8 8/4=2
30. Median: Middle
-arrange numbers smallest to largest, which number is in the middle,
if even add the two numbers and divide by 2
31. Mode: Most
-which number occurs most often
32. Standard Deviation Steps: 1. Calculate the mean of the data
set
2. Calculate each variable (x) minus the mean. (x-x ) (ie.subtract the
mean from each value of the data set)
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