WGU C723 Quantitative |! |! |!
Analysis for Business (PA) |! |! |! |!
Exam with precise detailed |! |! |! |!
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. |!
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 |!
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
|! |! |!
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 |! |! |! |! |! |! |! |! |! |!
automobiles registered, the sales of alcoholic beverages, and the rainfall in |! |! |! |! |! |! |! |! |! |! |!
inches. |!
How can this employee realistically predict the accidents in Albany for next
|! |! |! |! |! |! |! |! |! |! |! |!
year? |!
O Use the ratio of accidents versus each of the other variables and then
|! |! |! |! |! |! |! |! |! |! |! |! |! |!
average the three values |! |! |! |!
|!
O Use a multiple regression equation using accident as the dependent
|! |! |! |! |! |! |! |! |! |! |!
variable and others as independent variables |! |! |! |! |! |!
O Use a multiple regression equation using automobiles registered as the
|! |! |! |! |! |! |! |! |! |! |!
dependent variable and others as independent |! |! |! |! |! |!
variables |!
Analysis for Business (PA) |! |! |! |!
Exam with precise detailed |! |! |! |!
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. |!
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 |!
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
|! |! |!
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 |! |! |! |! |! |! |! |! |! |!
automobiles registered, the sales of alcoholic beverages, and the rainfall in |! |! |! |! |! |! |! |! |! |! |!
inches. |!
How can this employee realistically predict the accidents in Albany for next
|! |! |! |! |! |! |! |! |! |! |! |!
year? |!
O Use the ratio of accidents versus each of the other variables and then
|! |! |! |! |! |! |! |! |! |! |! |! |! |!
average the three values |! |! |! |!
|!
O Use a multiple regression equation using accident as the dependent
|! |! |! |! |! |! |! |! |! |! |!
variable and others as independent variables |! |! |! |! |! |!
O Use a multiple regression equation using automobiles registered as the
|! |! |! |! |! |! |! |! |! |! |!
dependent variable and others as independent |! |! |! |! |! |!
variables |!
