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Quantitative Analysis For Business - C723
Quantitative analysis for business (Western Governors University)
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PRE-ASSESSMENT - QUANTITATIVE ANALYSIS FOR
BUSINESS (PHFO)
Attempt #1
Status: Not Passed
1. A car stereo company is planning to introduce a new product into the market. It faces stiff
competition from two other organization 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?
YOUR CORRECT
ANSWER ANSWER
Quantitative
Qualitative
Payback table
Expert judgment
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.
Answer options may be used more than once or not at all. Select your answers from the pull-
down list.
YOUR CORRECT
ANSWER ANSWER
https://my.wgu.edu/coaching-report/preassessment-report/v1/studentPidm/11639741/assessmentCode/PHFO/testDate/1732129095 Page 1 of 53
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Including an open-ended Qualitative Qualitative
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.
Group brainstorming Qualitative Qualitative
with the nurses and
doctors in the hospital to
see what ideas people
have for why so many
people are suddenly
coming to the ER for non-
emergency treatment.
Pulling the hospital’s Quantitative Quantitative
records for the last 10
years and sorting by
medical codes to check
for similar patterns in
past years. A regression
model can be built using
non-emergency
treatments as the
dependent variable, and
various independent
variables can be tested,
such as population
change and
unemployment levels.
https://my.wgu.edu/coaching-report/preassessment-report/v1/studentPidm/11639741/assessmentCode/PHFO/testDate/1732129095 Page 2 of 53
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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 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 net present value for the studio.
Which method of analysis should this owner use to make a determination?
YOUR CORRECT
ANSWER ANSWER
Qualitative
Quantitative
Decision tree
Expert judgment
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?
YOUR CORRECT
ANSWER ANSWER
It will let the company determine the average revenue it made.
It will help the company see which customers bought its items.
It will help the company see why it has been making a profit.
It will help the company see the competitors’ average revenue.
https://my.wgu.edu/coaching-report/preassessment-report/v1/studentPidm/11639741/assessmentCode/PHFO/testDate/1732129095 Page 3 of 53
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Quantitative Analysis For Business - C723
Quantitative analysis for business (Western Governors University)
Scan to open on Studocu
Studocu is not sponsored or endorsed by any college or university
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
WGU Student Portal 12/3/24, 12:07 PM
Help Articles
PRE-ASSESSMENT - QUANTITATIVE ANALYSIS FOR
BUSINESS (PHFO)
Attempt #1
Status: Not Passed
1. A car stereo company is planning to introduce a new product into the market. It faces stiff
competition from two other organization 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?
YOUR CORRECT
ANSWER ANSWER
Quantitative
Qualitative
Payback table
Expert judgment
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.
Answer options may be used more than once or not at all. Select your answers from the pull-
down list.
YOUR CORRECT
ANSWER ANSWER
https://my.wgu.edu/coaching-report/preassessment-report/v1/studentPidm/11639741/assessmentCode/PHFO/testDate/1732129095 Page 1 of 53
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
WGU Student Portal 12/3/24, 12:07 PM
Including an open-ended Qualitative Qualitative
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.
Group brainstorming Qualitative Qualitative
with the nurses and
doctors in the hospital to
see what ideas people
have for why so many
people are suddenly
coming to the ER for non-
emergency treatment.
Pulling the hospital’s Quantitative Quantitative
records for the last 10
years and sorting by
medical codes to check
for similar patterns in
past years. A regression
model can be built using
non-emergency
treatments as the
dependent variable, and
various independent
variables can be tested,
such as population
change and
unemployment levels.
https://my.wgu.edu/coaching-report/preassessment-report/v1/studentPidm/11639741/assessmentCode/PHFO/testDate/1732129095 Page 2 of 53
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
WGU Student Portal 12/3/24, 12:07 PM
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 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 net present value for the studio.
Which method of analysis should this owner use to make a determination?
YOUR CORRECT
ANSWER ANSWER
Qualitative
Quantitative
Decision tree
Expert judgment
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?
YOUR CORRECT
ANSWER ANSWER
It will let the company determine the average revenue it made.
It will help the company see which customers bought its items.
It will help the company see why it has been making a profit.
It will help the company see the competitors’ average revenue.
https://my.wgu.edu/coaching-report/preassessment-report/v1/studentPidm/11639741/assessmentCode/PHFO/testDate/1732129095 Page 3 of 53
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