WGU C723 Quantitative Analysis for Business (2023/2024) Already Graded A

WGU C723 Quantitative Analysis for Business (2023/2024) Already Graded A Quantitative Analysis Analysis using objective data Qualitative Analysis Analysis using subjective Data Response Variable Another name for the dependent variable Explanatory Variable Another name for the dependent variable Negative Correclation Correlation that occurs when one variable increases and the other variable decreases Positive Correlation Correlation that occurs when one variable and the other Nonnumeric Data Data of a form such as words, symbols, or letters that are not used in calculations Numerical Data Data represented by numbers Trendline Line that shows the general direction of the relationship of points over time Objective Data Measurable data often obtained through observations or testing Correlation 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 Metric Measurement used to gauge performance Forecasting Method or process used to make short range decisions where the actual outcomes have not yet occurred Subjective Data Non-measurable data often obtained through surveys or interviews Descriptive Statistics The analysis of data, to describe, interpret, and summarize data in a meaningful way Inferential Statistics The analysis of data to reach conclusions, generalizations, and estimations based on a small sample of the population Statistics The gathering, organizing, and interpreting of numerical data Moderating Variable Variable that changes the effect of independent variable on the dependent variable Dependent Variable Variable that is being measured or affected Independent Variable Variable that is free to change in a given model Quantitative Analysis: models -Decision Tree -Network Diagram -ANOVA -Linear regression -Linear Programming -Break-even Analysis -Simulation -and more Qualitative Analysis: Models - Surveys -Brainstorming Session -Raking (favorites) -Subjective Judgment -and more PEMDAS