1
C723 Quantitative Analysis For
Business (PA) Questions with 100%
Correct Answers
1 A car stereo company is planning to introduce a new product into the
market. It faces stiff competition from two other organizations with similar
products. The company's marketing manager has asked the production
manager to perform a break-even analysis using three different price points. The
marketing manager will use the results to set a price for the new product.
Which type of method is a break-even analysis?
O Expert judgment
O Quantitative
O Qualitative
O Payback table Correct Answer: Quantitative
cuz break-even analysis using price points involves numbers
Quantitative or Quantity=Number
2 Over the last three months, a small rural hospital has seen a sudden increase in
the number of patients coming to the emergency room for non-emergency
treatment. The hospital administrator wants to know why there is a sudden
increase in demand and is considering three options to find out. Classify each
method available to the administrator as qualitative or quantitative.
:
vPretest - Stuvia US
,2
Answer options may be used more than once or not at all. Select your answers
from the pull-down list.
Including an open-ended question on the intake form asking patients, "Please
explain why you selected this ER for
treatment." Intake forms can be sorted into non-emergency and emergency
categories; the "non-emergency"
responses can be analyzed to determine reasons the hospital was selected
Qualitative
Pulling the hospital's records for the last 10 years and sorting by medical codes
to check for similar patterns in past
years. A regression Correct Answer: Qualitative
cuz a why you selected question is an opinion.
Qualitative or Quality=Opinion
Qualitative
:
vPretest - Stuvia US
,3
cuz the question can't be counted like 1+2+3+4+5=15.
Qualitative or Quality=Opinion
Quantitative cuz how many ideas are counted for ER visits.
Quantitative or Quantity=Number
3 A local music store that hosts live music has been a very popular hangout for
years. However, the owner is concerned that the increasing popularity of new
methods of music delivery will soon make the business obsolete. The owner is
considering building a
small recording studio in the basement of the store. The nearest professional
studio is 50 miles away, so a new studio may appeal to local musicians and
increase foot traffic. The owner has all the costs of building the studio and has
also estimated how much revenue might increase due to the new studio (from
studio rental fees, increased food and drink sales if more people come to the
live music shows, etc.). The owner will use this information to determine the net
present value for the studio.
Which method of analysis should this owner use to make a determination?
O Decision tree
O Expert judgment
:
vPretest - Stuvia US
, 4
O Quantitative
O Qualitative Correct Answer: Quantitative
cuz counting number cost of building, food, drink, etc. Quantitative or
Quantity=Number.
4 How should quantitative analysis improve subsequent decision making for a
firm that wants to determine whether its revenue has
been increasing or decreasing for the past 10 years?
O It will help the company see why it has been making a profit
O It will let the company determine the average revenue it made.
O It will help the company see which customers bought its items.
O It will help the company see the competitors' average revenue. Correct
Answer: It will let the company determine the average revenue it made.
cuz revenue is the question to answer
5 An employee working for the Highway Safety Department in Albany, New York
has the job to predict the automobile accidents in
Albany for the next year. The employee currently has monthly data on the
following variables for the city of Albany: the number of
:
vPretest - Stuvia US
C723 Quantitative Analysis For
Business (PA) Questions with 100%
Correct Answers
1 A car stereo company is planning to introduce a new product into the
market. It faces stiff competition from two other organizations with similar
products. The company's marketing manager has asked the production
manager to perform a break-even analysis using three different price points. The
marketing manager will use the results to set a price for the new product.
Which type of method is a break-even analysis?
O Expert judgment
O Quantitative
O Qualitative
O Payback table Correct Answer: Quantitative
cuz break-even analysis using price points involves numbers
Quantitative or Quantity=Number
2 Over the last three months, a small rural hospital has seen a sudden increase in
the number of patients coming to the emergency room for non-emergency
treatment. The hospital administrator wants to know why there is a sudden
increase in demand and is considering three options to find out. Classify each
method available to the administrator as qualitative or quantitative.
:
vPretest - Stuvia US
,2
Answer options may be used more than once or not at all. Select your answers
from the pull-down list.
Including an open-ended question on the intake form asking patients, "Please
explain why you selected this ER for
treatment." Intake forms can be sorted into non-emergency and emergency
categories; the "non-emergency"
responses can be analyzed to determine reasons the hospital was selected
Qualitative
Pulling the hospital's records for the last 10 years and sorting by medical codes
to check for similar patterns in past
years. A regression Correct Answer: Qualitative
cuz a why you selected question is an opinion.
Qualitative or Quality=Opinion
Qualitative
:
vPretest - Stuvia US
,3
cuz the question can't be counted like 1+2+3+4+5=15.
Qualitative or Quality=Opinion
Quantitative cuz how many ideas are counted for ER visits.
Quantitative or Quantity=Number
3 A local music store that hosts live music has been a very popular hangout for
years. However, the owner is concerned that the increasing popularity of new
methods of music delivery will soon make the business obsolete. The owner is
considering building a
small recording studio in the basement of the store. The nearest professional
studio is 50 miles away, so a new studio may appeal to local musicians and
increase foot traffic. The owner has all the costs of building the studio and has
also estimated how much revenue might increase due to the new studio (from
studio rental fees, increased food and drink sales if more people come to the
live music shows, etc.). The owner will use this information to determine the net
present value for the studio.
Which method of analysis should this owner use to make a determination?
O Decision tree
O Expert judgment
:
vPretest - Stuvia US
, 4
O Quantitative
O Qualitative Correct Answer: Quantitative
cuz counting number cost of building, food, drink, etc. Quantitative or
Quantity=Number.
4 How should quantitative analysis improve subsequent decision making for a
firm that wants to determine whether its revenue has
been increasing or decreasing for the past 10 years?
O It will help the company see why it has been making a profit
O It will let the company determine the average revenue it made.
O It will help the company see which customers bought its items.
O It will help the company see the competitors' average revenue. Correct
Answer: It will let the company determine the average revenue it made.
cuz revenue is the question to answer
5 An employee working for the Highway Safety Department in Albany, New York
has the job to predict the automobile accidents in
Albany for the next year. The employee currently has monthly data on the
following variables for the city of Albany: the number of
:
vPretest - Stuvia US
