WGU C723 QUANTITATIVE ANALYSIS FOR BUSINESS
EXAM QUESTIONS AND CORRECT ANSWERS LATEST
UPDATED
ANSWER decision models are used to pinpoint business issues and create
potential fixes.
Payoff tables: ANSWER will calculate the advantages and disadvantages of any
possible solution.
The alternatives and likelihoods of occurrence will be determined using
decision trees-ANSWER.
The network of tasks necessary to finish a business project is referred to as
network analysis (ANSWER).
Quantitative analysis: ANSWER offers techniques for examining both small
and big volumes of data in order to find trends, patterns, and connections.
Managers can get statistically backed answers to business concerns and make
strategic decisions with the use of mathematical analysis—ANSWER. Over
time, these are places that are functioning.
Data can be divided into two categories: subjective and objective.
Subjective data—answers from questionnaires and interviews—are thought to
be incalculable.
Personal views like likes, dislikes, attitudes, and opinions are frequently
included in data.
,ANSWER quantifiable, objective data usually comes from testing or
observation in corporate domains including as production, shipping, sales, and
operations.
Data must precisely reflect the actual business relationship at hand in order to
be considered genuine. Additionally, the data must be trustworthy; for example,
if we collected data on a specific business relationship multiple times (using
different samples), each sample would accurately represent the relationship.
ANSWER cost-benefit analysis, inventory analysis, logistical analysis, and
revenue forecasting are a few instances of quantitative analysis.
ANSWER uses a quantitative analysis technique, first defining an issue and
then creating a mathematical model to depict the specific business scenario.
Managers can draw conclusions about the data using the model.
Total amount - ANSWER p=$xq (where Q is the number of goods sold and $X
is the amount received per item sold).
If X stays constant, Company XYZ can predict its revenue using this equation.
ANSWER 1: Quantitative Analysis Steps. Describe the issue.
2. Create a mathematical model.
3. Prepare and enter the data.
4. Look for the best answer.
5. Test the answer.
6. Examine the findings.
7. Put the solution into action.
ANSWER independent and dependent variables are used in cause and effect
analysis. The variable being measured or impacted is known as a dependent
variable. In a particular model, the independent variable is free to fluctuate.
Changes in the causal independent variable have an impact on the dependent
variable. Numerous independent variables may have an impact, even when only
one dependent variable is taken into account.
, A fishbone diagram can occasionally be used to identify the root cause of an
issue.
moderating connection: ANSWER The degree of the moderating variable
determines the relationship between the independent and dependent variables.
The relationship between the independent and dependent variables is explained
by the mediating variable, ANSWER.
Number pairs are graphed using scatter diagrams (ANSWER) to ascertain their
relationship.
Trend line: ANSWER The line that illustrates the overall course of the points'
relationship over time
There is a negative correlation between the two variables if the trend line
descends as we move from left to right.
If one variable rises in tandem with the other, what does that mean? The
variables have a positive association with one another.
Forecasting: In order to promote better business outcomes in the future,
ANSWER assists companies in modifying the current business environment.
Decision vs. choice: The answer is to select one of the plausible options.
Quantitative analysis—ANSWER—is predicated on factual data rather than
opinion. Businesses might use closed-ended enquiries to get precise
information.
Open-ended responses are used in subjective questioning (ANSWER).
Open-ended questions are ANSWER enquiries that promote a narrative
response rather than providing a list of possible answers.
Observing quantifiable events (such as the number of customers in the coffee
shop at a given time of day), conducting surveys with closed-ended questions,
EXAM QUESTIONS AND CORRECT ANSWERS LATEST
UPDATED
ANSWER decision models are used to pinpoint business issues and create
potential fixes.
Payoff tables: ANSWER will calculate the advantages and disadvantages of any
possible solution.
The alternatives and likelihoods of occurrence will be determined using
decision trees-ANSWER.
The network of tasks necessary to finish a business project is referred to as
network analysis (ANSWER).
Quantitative analysis: ANSWER offers techniques for examining both small
and big volumes of data in order to find trends, patterns, and connections.
Managers can get statistically backed answers to business concerns and make
strategic decisions with the use of mathematical analysis—ANSWER. Over
time, these are places that are functioning.
Data can be divided into two categories: subjective and objective.
Subjective data—answers from questionnaires and interviews—are thought to
be incalculable.
Personal views like likes, dislikes, attitudes, and opinions are frequently
included in data.
,ANSWER quantifiable, objective data usually comes from testing or
observation in corporate domains including as production, shipping, sales, and
operations.
Data must precisely reflect the actual business relationship at hand in order to
be considered genuine. Additionally, the data must be trustworthy; for example,
if we collected data on a specific business relationship multiple times (using
different samples), each sample would accurately represent the relationship.
ANSWER cost-benefit analysis, inventory analysis, logistical analysis, and
revenue forecasting are a few instances of quantitative analysis.
ANSWER uses a quantitative analysis technique, first defining an issue and
then creating a mathematical model to depict the specific business scenario.
Managers can draw conclusions about the data using the model.
Total amount - ANSWER p=$xq (where Q is the number of goods sold and $X
is the amount received per item sold).
If X stays constant, Company XYZ can predict its revenue using this equation.
ANSWER 1: Quantitative Analysis Steps. Describe the issue.
2. Create a mathematical model.
3. Prepare and enter the data.
4. Look for the best answer.
5. Test the answer.
6. Examine the findings.
7. Put the solution into action.
ANSWER independent and dependent variables are used in cause and effect
analysis. The variable being measured or impacted is known as a dependent
variable. In a particular model, the independent variable is free to fluctuate.
Changes in the causal independent variable have an impact on the dependent
variable. Numerous independent variables may have an impact, even when only
one dependent variable is taken into account.
, A fishbone diagram can occasionally be used to identify the root cause of an
issue.
moderating connection: ANSWER The degree of the moderating variable
determines the relationship between the independent and dependent variables.
The relationship between the independent and dependent variables is explained
by the mediating variable, ANSWER.
Number pairs are graphed using scatter diagrams (ANSWER) to ascertain their
relationship.
Trend line: ANSWER The line that illustrates the overall course of the points'
relationship over time
There is a negative correlation between the two variables if the trend line
descends as we move from left to right.
If one variable rises in tandem with the other, what does that mean? The
variables have a positive association with one another.
Forecasting: In order to promote better business outcomes in the future,
ANSWER assists companies in modifying the current business environment.
Decision vs. choice: The answer is to select one of the plausible options.
Quantitative analysis—ANSWER—is predicated on factual data rather than
opinion. Businesses might use closed-ended enquiries to get precise
information.
Open-ended responses are used in subjective questioning (ANSWER).
Open-ended questions are ANSWER enquiries that promote a narrative
response rather than providing a list of possible answers.
Observing quantifiable events (such as the number of customers in the coffee
shop at a given time of day), conducting surveys with closed-ended questions,
