UNIT 2: INTRO TO QUANTITATIVE
ANALYSIS: UNIT TEST 2025
QUESTIONS AND ANSWERS
The foundational basis of utilizing quantitative analysis is ensuring the use of
_____________ data in order to better understand a business problem. -
....ANSWER ...--valid and measureable
When describing a cause-and-effect relationship, variables are used. One variable is
typically impacted by another. The variable that is not impacted by another variable
is called what? - ....ANSWER ...--independent variable
Estimated future demand is quantified using a business forecast. A pool supply
company's operations manager may find forecasting helpful in order to predict and
manage the amount of chemical container____________for the upcoming
summer seasonal months. - ....ANSWER ...--
One method of data collection is the use of closed-ended questions. What is the
advantage of using this method for data collection? - ....ANSWER ...--The
answers to the questions are quantifiable and can be categorized.
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,Quantitative analysis uses statistics as a key methodology, even when problems are
complex. The key benefit of using statistics is that it can help develop conclusions
about a(n)___________based on a smaller__________that is representative of the
whole. The primary purpose of using statistics in quantitative analysis is the
collecting, analyzing, and__________of data. - ....ANSWER ...--population
-sample
-interpreting
Gathering and analyzing____________Gathering and
analyzing_____________data, such as a company's profit, cost, inventory, or
sometimes a loss. - ....ANSWER ...--numerical
-quantify
Select whether the following is an example of using quantitative methods or
qualitative methods:
After a recent release of a new CD, the music producer wants to know what
listeners think of the new contemporary sound. - ....ANSWER ...--
Qualitative
Given the following scenario, select whether it represents subjective or objective
analysis:
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
, The business analyst prepared a spreadsheet with the most recent quarterly figures.
It contained the business' performance on revenue for each product as well as the
profit or loss on each product. - ....ANSWER ...--Objective
Quantitative analysis is a method used to help a business find solutions to
problems. The decision-making process should include preparing a quantitative
analysis.
At what point in the process should the analysis be incorporated? -
....ANSWER ...--At the beginning before the decision is made
Solving problems is a normal part of any ongoing business. Quantitative analysis is
a method used to solve many of the problems.
Quantitative analysis necessitates the analyzing of differences in numerical data for
what purpose? - ....ANSWER ...--To resolve, reconcile, and understand the
reasons behind the numerical data differences
Quantitative analysis will require identifying the dependent and independent
variables. This will determine the cause and effect relationship of the variables.
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 3
ANALYSIS: UNIT TEST 2025
QUESTIONS AND ANSWERS
The foundational basis of utilizing quantitative analysis is ensuring the use of
_____________ data in order to better understand a business problem. -
....ANSWER ...--valid and measureable
When describing a cause-and-effect relationship, variables are used. One variable is
typically impacted by another. The variable that is not impacted by another variable
is called what? - ....ANSWER ...--independent variable
Estimated future demand is quantified using a business forecast. A pool supply
company's operations manager may find forecasting helpful in order to predict and
manage the amount of chemical container____________for the upcoming
summer seasonal months. - ....ANSWER ...--
One method of data collection is the use of closed-ended questions. What is the
advantage of using this method for data collection? - ....ANSWER ...--The
answers to the questions are quantifiable and can be categorized.
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
,Quantitative analysis uses statistics as a key methodology, even when problems are
complex. The key benefit of using statistics is that it can help develop conclusions
about a(n)___________based on a smaller__________that is representative of the
whole. The primary purpose of using statistics in quantitative analysis is the
collecting, analyzing, and__________of data. - ....ANSWER ...--population
-sample
-interpreting
Gathering and analyzing____________Gathering and
analyzing_____________data, such as a company's profit, cost, inventory, or
sometimes a loss. - ....ANSWER ...--numerical
-quantify
Select whether the following is an example of using quantitative methods or
qualitative methods:
After a recent release of a new CD, the music producer wants to know what
listeners think of the new contemporary sound. - ....ANSWER ...--
Qualitative
Given the following scenario, select whether it represents subjective or objective
analysis:
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
, The business analyst prepared a spreadsheet with the most recent quarterly figures.
It contained the business' performance on revenue for each product as well as the
profit or loss on each product. - ....ANSWER ...--Objective
Quantitative analysis is a method used to help a business find solutions to
problems. The decision-making process should include preparing a quantitative
analysis.
At what point in the process should the analysis be incorporated? -
....ANSWER ...--At the beginning before the decision is made
Solving problems is a normal part of any ongoing business. Quantitative analysis is
a method used to solve many of the problems.
Quantitative analysis necessitates the analyzing of differences in numerical data for
what purpose? - ....ANSWER ...--To resolve, reconcile, and understand the
reasons behind the numerical data differences
Quantitative analysis will require identifying the dependent and independent
variables. This will determine the cause and effect relationship of the variables.
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 3
