WGU C723 Quantitative Analysis for Business, WGU - D089 https://www.stuvia.com/user/filwe1099salmin
Principles of Economicshttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
WGU C723 Quantitative Analysis for
Business, WGU - D089 Principles of
Economics
Analysis using objective data
Quantitative Analysis
Analysis using subjective Data
Qualitative Analysis
Another name for the dependent variable
Response Variable
Another name for the dependent variable
Explanatory Variable
Correlation that occurs when one variable increases and the other variable
decreases
Negative Correclation
Correlation that occurs when one variable and the other
Positive Correlation
Data of a form such as words, symbols, or letters that are not used in calculations
Nonnumeric Data
Data represented by numbers
Numerical Data
pg. 1
https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin
,WGU C723 Quantitative Analysis for Business, WGU - D089 https://www.stuvia.com/user/filwe1099salmin
Principles of Economicshttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
Line that shows the general direction of the relationship of points over time
Trendline
Measurable data often obtained through observations or testing
Objective Data
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
Correlation
Measurement used to gauge performance
Metric
Method or process used to make short range decisions where the actual
outcomes have not yet occurred
Forecasting
Non-measurable data often obtained through surveys or interviews
Subjective Data
The analysis of data, to describe, interpret, and summarize data in a meaningful
way
Descriptive Statistics
The analysis of data to reach conclusions, generalizations, and estimations based
on a small sample of the population
Inferential Statistics
pg. 2
https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin
,WGU C723 Quantitative Analysis for Business, WGU - D089 https://www.stuvia.com/user/filwe1099salmin
Principles of Economicshttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
The gathering, organizing, and interpreting of numerical data
Statistics
Variable that changes the effect of independent variable on the dependent
variable
Moderating Variable
Variable that is being measured or affected
Dependent Variable
Variable that is free to change in a given model
Independent Variable
-Decision Tree
-Network Diagram
-ANOVA
-Linear regression
-Linear Programming
-Break-even Analysis
-Simulation
-and more
Quantitative Analysis: models
- Surveys
-Brainstorming Session
-Raking (favorites)
-Subjective Judgment
-and more
Qualitative Analysis: Models
Parentheses, Exponents, Multiplication, Division, Addition, Subtraction
* Please excuse my dear aunt sally
PEMDAS
predictive value
pg. 3
https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin
, WGU C723 Quantitative Analysis for Business, WGU - D089 https://www.stuvia.com/user/filwe1099salmin
Principles of Economicshttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
Y hat
consist of numbers, variables and operations
* do not have <,>,=
Expressions
do have <.>=
Equations and Inequalities
Type of equation when the slope between any two points is constant
Linear Equation
Coefficients are the numbers in front of a variable, while constants stand alone.
Average
- add all numbers , divide by total of numbers added ie 2+2+2+2=8 8/4=2
Mean
Middle
-arrange numbers smallest to largest, which number is in the middle, if even add
the two numbers and divide by 2
Median
Most
-which number occurs most often
Mode
pg. 4
https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin
Principles of Economicshttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
WGU C723 Quantitative Analysis for
Business, WGU - D089 Principles of
Economics
Analysis using objective data
Quantitative Analysis
Analysis using subjective Data
Qualitative Analysis
Another name for the dependent variable
Response Variable
Another name for the dependent variable
Explanatory Variable
Correlation that occurs when one variable increases and the other variable
decreases
Negative Correclation
Correlation that occurs when one variable and the other
Positive Correlation
Data of a form such as words, symbols, or letters that are not used in calculations
Nonnumeric Data
Data represented by numbers
Numerical Data
pg. 1
https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin
,WGU C723 Quantitative Analysis for Business, WGU - D089 https://www.stuvia.com/user/filwe1099salmin
Principles of Economicshttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
Line that shows the general direction of the relationship of points over time
Trendline
Measurable data often obtained through observations or testing
Objective Data
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
Correlation
Measurement used to gauge performance
Metric
Method or process used to make short range decisions where the actual
outcomes have not yet occurred
Forecasting
Non-measurable data often obtained through surveys or interviews
Subjective Data
The analysis of data, to describe, interpret, and summarize data in a meaningful
way
Descriptive Statistics
The analysis of data to reach conclusions, generalizations, and estimations based
on a small sample of the population
Inferential Statistics
pg. 2
https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin
,WGU C723 Quantitative Analysis for Business, WGU - D089 https://www.stuvia.com/user/filwe1099salmin
Principles of Economicshttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
The gathering, organizing, and interpreting of numerical data
Statistics
Variable that changes the effect of independent variable on the dependent
variable
Moderating Variable
Variable that is being measured or affected
Dependent Variable
Variable that is free to change in a given model
Independent Variable
-Decision Tree
-Network Diagram
-ANOVA
-Linear regression
-Linear Programming
-Break-even Analysis
-Simulation
-and more
Quantitative Analysis: models
- Surveys
-Brainstorming Session
-Raking (favorites)
-Subjective Judgment
-and more
Qualitative Analysis: Models
Parentheses, Exponents, Multiplication, Division, Addition, Subtraction
* Please excuse my dear aunt sally
PEMDAS
predictive value
pg. 3
https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin
, WGU C723 Quantitative Analysis for Business, WGU - D089 https://www.stuvia.com/user/filwe1099salmin
Principles of Economicshttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
Y hat
consist of numbers, variables and operations
* do not have <,>,=
Expressions
do have <.>=
Equations and Inequalities
Type of equation when the slope between any two points is constant
Linear Equation
Coefficients are the numbers in front of a variable, while constants stand alone.
Average
- add all numbers , divide by total of numbers added ie 2+2+2+2=8 8/4=2
Mean
Middle
-arrange numbers smallest to largest, which number is in the middle, if even add
the two numbers and divide by 2
Median
Most
-which number occurs most often
Mode
pg. 4
https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin https://www.stuvia.com/user/filwe1099salmin
