WGU C723 - QUANTITATIVE ANALYSIS
FOR BUSINESS FINAL TEST 2026
QUESTIONS WITH CORRECT ANSWERS
GRADED A+
◍ Predecessor.
Answer: Task that must be completed before the next step can be started.
◍ Mediating Variable.
Answer: Variable that explains the relationship between the independent and
dependent variables.
◍ Objective Data.
Answer: Measurable data often obtained through observations or testing
◍ Dependent Variable.
Answer: Variable that is being measured or affected
◍ Correlation.
Answer: Used to compare two variables to determine the strength of the
linear relationship between them.
◍ Carrying Costs.
Answer: The costs of storing inventory, insurance, and managing inventory
risk due to damage or theft.
◍ Qualitative Analysis.
Answer: Analysis using subjective Data
◍ Numerical Data.
Answer: Data represented by numbers
◍ Choose the Best Alternative.
, Answer: Step 6 of the decision-making model.
◍ Mode.
Answer: Most-which number occurs most often
◍ Descriptive Statistics Calculations.
Answer: Mean: (average): Sum off all observations divided by the # of
observationsMode: most frequently observed number Median: center
number when in order (divide by two if even amount of numbers)Range: the
difference between the highest and lowest number (=max-min)
◍ Pie Chart.
Answer: Graph showing the percentage of occurrence in each category for
qualitative data
◍ Demand.
Answer: The number of items needed, typically per year.
◍ Linear Programming problems for this course.
Answer: - single criteria problems, only emphasizing maximization or
minimization -all equations and inequalities are linear-all graphs are a
continuous line-all variables are non-negative. For a variable x, xi > or = 0
◍ Formula for time duration.
Answer: Test= (a +(m*4) + P) /6
◍ Trend.
Answer: General upward or downward movement of data over a relatively
long period of time
◍ Annual Operating Cost Formula.
Answer: ( annual demand) / (Order quantity) * (cost per order)Ordering
Cost= annual demand divided by order quantity time the ordering cost
◍ Total Inventory Cost.
Answer: purchasing cost + holding cost + ordering cost Purchasing cost =
annual demand x priceHolding Cost= order quantity divided by 2 times
holding costOrdering Cost= annual demand divided by order quantity time
, the ordering cost
◍ Decision Point.
Answer: A point where one of several alternatives can be selected.
◍ Coefficient.
Answer: Multiplier of the variable, as in linear equations or inequalities.
◍ Statistics.
Answer: The gathering, organizing, and interpreting of numerical data
◍ Decision Making: Step 2.
Answer: Establish decision Criteria -clearly state what is necessary to solve
the problem, the requirements to meet
◍ Economic Production Quantity (EPQ).
Answer: (upper case letters = yearly, smaller case letters =daily)-Rate of
production has to be greater than the demand= square root : (2 DCR/ H *
(R-D)
◍ Expected Monetary Value.
Answer: Method used for decision making when the risks involved in a
decision situation have several states of nature and the likelihood, or
probability, of each state is known.
◍ Trend.
Answer: The general upward or downward movement of data over a
relatively long period.
◍ Inventory.
Answer: Any goods held in stock for immediate or future use.
◍ Sample.
Answer: Subset of the population.
◍ Quantitative Analysis: models.
Answer: -Decision Tree-Network Diagram-ANOVA-Linear
regression-Linear Programming-Break-even Analysis-Simulation -and more
FOR BUSINESS FINAL TEST 2026
QUESTIONS WITH CORRECT ANSWERS
GRADED A+
◍ Predecessor.
Answer: Task that must be completed before the next step can be started.
◍ Mediating Variable.
Answer: Variable that explains the relationship between the independent and
dependent variables.
◍ Objective Data.
Answer: Measurable data often obtained through observations or testing
◍ Dependent Variable.
Answer: Variable that is being measured or affected
◍ Correlation.
Answer: Used to compare two variables to determine the strength of the
linear relationship between them.
◍ Carrying Costs.
Answer: The costs of storing inventory, insurance, and managing inventory
risk due to damage or theft.
◍ Qualitative Analysis.
Answer: Analysis using subjective Data
◍ Numerical Data.
Answer: Data represented by numbers
◍ Choose the Best Alternative.
, Answer: Step 6 of the decision-making model.
◍ Mode.
Answer: Most-which number occurs most often
◍ Descriptive Statistics Calculations.
Answer: Mean: (average): Sum off all observations divided by the # of
observationsMode: most frequently observed number Median: center
number when in order (divide by two if even amount of numbers)Range: the
difference between the highest and lowest number (=max-min)
◍ Pie Chart.
Answer: Graph showing the percentage of occurrence in each category for
qualitative data
◍ Demand.
Answer: The number of items needed, typically per year.
◍ Linear Programming problems for this course.
Answer: - single criteria problems, only emphasizing maximization or
minimization -all equations and inequalities are linear-all graphs are a
continuous line-all variables are non-negative. For a variable x, xi > or = 0
◍ Formula for time duration.
Answer: Test= (a +(m*4) + P) /6
◍ Trend.
Answer: General upward or downward movement of data over a relatively
long period of time
◍ Annual Operating Cost Formula.
Answer: ( annual demand) / (Order quantity) * (cost per order)Ordering
Cost= annual demand divided by order quantity time the ordering cost
◍ Total Inventory Cost.
Answer: purchasing cost + holding cost + ordering cost Purchasing cost =
annual demand x priceHolding Cost= order quantity divided by 2 times
holding costOrdering Cost= annual demand divided by order quantity time
, the ordering cost
◍ Decision Point.
Answer: A point where one of several alternatives can be selected.
◍ Coefficient.
Answer: Multiplier of the variable, as in linear equations or inequalities.
◍ Statistics.
Answer: The gathering, organizing, and interpreting of numerical data
◍ Decision Making: Step 2.
Answer: Establish decision Criteria -clearly state what is necessary to solve
the problem, the requirements to meet
◍ Economic Production Quantity (EPQ).
Answer: (upper case letters = yearly, smaller case letters =daily)-Rate of
production has to be greater than the demand= square root : (2 DCR/ H *
(R-D)
◍ Expected Monetary Value.
Answer: Method used for decision making when the risks involved in a
decision situation have several states of nature and the likelihood, or
probability, of each state is known.
◍ Trend.
Answer: The general upward or downward movement of data over a
relatively long period.
◍ Inventory.
Answer: Any goods held in stock for immediate or future use.
◍ Sample.
Answer: Subset of the population.
◍ Quantitative Analysis: models.
Answer: -Decision Tree-Network Diagram-ANOVA-Linear
regression-Linear Programming-Break-even Analysis-Simulation -and more
