C723 QUANTITATIVE ANALYSIS
FOR BUSINESS- FINAL WGU EXAM
2025 QUESTIONS AND ANSWERS
Hypothesis - ....ANSWER ...-is an assumption about a population
parameter such as a mean or a proportion
null hypothesis (H0) - ....ANSWER ...--represents the status quo
-states a belief that the population parameter is ≤, =, or ≥ a specific value
-believed to be true unless there is overwhelming evidence to the contrary
alternative hypothesis (H1) - ....ANSWER ...--represents the opposite of the
null hypothesis
-believed to be true if the null hypothesis is found to be false
-always states that the population parameter is >, ≠, or < a specific value
two-tail hypothesis test - ....ANSWER ...-is used whenever the alternative
hypothesis is expressed as ≠
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, one-tail hypothesis test - ....ANSWER ...-is used when the alternative
hypothesis is stated as < or >
Type I error - ....ANSWER ...--occurs when the null hypothesis is rejected
when it is true
-when it occurs the producer is looking for a problem in its process that does not
exist
Type II error - ....ANSWER ...--occurs when we fail to reject the null
hypothesis when it is not true
-when it occurs the customer is getting a product from a process that is not
performing properly
Correlation analysis - ....ANSWER ...--is used to measure both the strength
and direction of a linear relationship between two variables
-A relationship is linear if the scatter plot of the independent and dependent
variables has a straight-line pattern
correlation coefficient, r - ....ANSWER ...--indicates both the strength and
direction of the linear relationship between the independent and dependent
variables
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
FOR BUSINESS- FINAL WGU EXAM
2025 QUESTIONS AND ANSWERS
Hypothesis - ....ANSWER ...-is an assumption about a population
parameter such as a mean or a proportion
null hypothesis (H0) - ....ANSWER ...--represents the status quo
-states a belief that the population parameter is ≤, =, or ≥ a specific value
-believed to be true unless there is overwhelming evidence to the contrary
alternative hypothesis (H1) - ....ANSWER ...--represents the opposite of the
null hypothesis
-believed to be true if the null hypothesis is found to be false
-always states that the population parameter is >, ≠, or < a specific value
two-tail hypothesis test - ....ANSWER ...-is used whenever the alternative
hypothesis is expressed as ≠
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, one-tail hypothesis test - ....ANSWER ...-is used when the alternative
hypothesis is stated as < or >
Type I error - ....ANSWER ...--occurs when the null hypothesis is rejected
when it is true
-when it occurs the producer is looking for a problem in its process that does not
exist
Type II error - ....ANSWER ...--occurs when we fail to reject the null
hypothesis when it is not true
-when it occurs the customer is getting a product from a process that is not
performing properly
Correlation analysis - ....ANSWER ...--is used to measure both the strength
and direction of a linear relationship between two variables
-A relationship is linear if the scatter plot of the independent and dependent
variables has a straight-line pattern
correlation coefficient, r - ....ANSWER ...--indicates both the strength and
direction of the linear relationship between the independent and dependent
variables
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
