WGU C723 Quantitative Analysis For Business - Pre Assessment
Study online at https://quizlet.com/_9tg0q7
1. 1 A car stereo company is planning to introduce a Quantitative
new product into the market. It faces stiff competition cuz break-even
from two other organizations with similar products. analysis using
The company's marketing manager has asked the price points in-
production manager to perform a break-even analy- volves numbers
sis using three different price points. The marketing Quantitative or
manager will use the results to set a price for the new Quantity=Number
product.
Which type of method is a break-even analysis?
O Expert judgment
O Quantitative
O Qualitative
O Payback table
2. 2 Over the last three months, a small rural hospital Qualitative
has seen a sudden increase in the number of patients cuz a why you se-
coming to the emergency room for non-emergency lected question is
treatment. The hospital administrator wants to know an opinion.
why there is a sudden increase in demand and is Qualitative or
considering three options to find out. Classify each Quality=Opinion
method available to the administrator as qualitative
or quantitative. Quantitative -
Answer options may be used more than once or not Pulling data
at all. Select your answers from the pull-down list. cuz the ques-
tion can be
Including an open-ended question on the intake form counted like
asking patients, "Please explain why you selected 1+2+3+4+5=15.
this ER for treatment." Intake forms can be sorted Quantitative or
into non-emergency and emergency categories; the Quantity=Number
"non-emergency"
responses can be analyzed to determine reasons the Qualitative - Brain-
hospital was selected = Qualitative storming ER vis-
its.
Pulling the hospital's records for the last 10 years Qualitative or
and sorting by medical codes to check for similar Quality=Opinion
patterns in past years. A regression model can be
built using non-emergency treatments as the depen-
dent variable, and various independent variables can
be tested, such as population change and unemploy-
, WGU C723 Quantitative Analysis For Business - Pre Assessment
Study online at https://quizlet.com/_9tg0q7
ment levels. = Quantitative
Group brainstorming with the nurses and doctors in
the hospital to see what ideas people have for why so
many
people are suddenly coming to the ER for non-emer-
gency treatment. = Qualitative
3. 3. A local music store that hosts live music has been Quantitative
a very popular hangout for years. However, the owner cuz counting num-
is concerned that the increasing popularity of new ber cost of build-
methods of music delivery will soon make the busi- ing, food, drink,
ness obsolete. The owner is considering building a etc. Quantitative
small recording studio in the basement of the store. or Quantity=Num-
The nearest professional studio is 50 miles away, ber.
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
4. 4 How should quantitative analysis improve subse- It will let the com-
quent decision making for a firm that wants to de- pany determine
termine whether its revenue has been increasing or the average rev-
decreasing for the past 10 years? enue it made.
cuz revenue is the
O It will help the company see why it has been making question to an-
a profit swer
O It will let the company determine the average rev-
, WGU C723 Quantitative Analysis For Business - Pre Assessment
Study online at https://quizlet.com/_9tg0q7
enue it made.
O It will help the company see which customers
bought its items.
O It will help the company see the competitors' aver-
age revenue.
5. 5 An employee working for the Highway Safety De- Use a multiple
partment in Albany, New York has the job to predict regression equa-
the automobile accidents in Albany for the next year. tion using accident
The employee currently has monthly data on the fol- as the dependent
lowing variables for the city of Albany: the number of variable and oth-
automobiles registered, the sales of alcoholic bever- ers as indepen-
ages, and the rainfall in inches. dent variables.
How can this employee realistically predict the acci- cuz accidents the
dents in Albany for next year? question, are the
dependent vari-
O Use the ratio of accidents versus each of the other able the reason
variables and then average the three values why is because
rain, alcohol, dis-
O Use a multiple regression equation using accident tracted, etc.
as the dependent variable and others as independent
variables
O Use a multiple regression equation using automo-
biles registered as the dependent variable and others
as independent variables
O Use the sales of alcoholic beverages because the
other variables are less significant
6. 6. A marketing manager for a corporation that mar- Compute season-
kets a broad range of food brands needs to plan a ality (seasonal)
monthly marketing, advertising, and sales promotion indices (indexes)
budget for next year and is looking at monthly sales. for each month
One brand shows dramatic fluctuations in sales over to forecast next
the past three years. year's monthly
sales.
How should this manager use quantitative analysis to
make budgeting decisions for this brand? cuz it will give you
, WGU C723 Quantitative Analysis For Business - Pre Assessment
Study online at https://quizlet.com/_9tg0q7
visuals to see fluc-
O Compute quarterly averages based on each month tuations in price
in the quarter over time.
O Use last year's budget amounts regardless of aver-
age sales values
O Compute seasonality indices for each month to
forecast next year's monthly sales
O Use average sales values for all of the months over
the past two years
7. 7 Y-hat=a+b1X1 +b2X2 9
The constant is 3, the bl coefficient is 4, the b2 coef- cuz
ficient is —1, X1 is 3, and X2 is 6 3+(4x3)+(-1x6)=9
What is the predicted value of Y?
O 15
O9
O 11
O 13
O8
8. 8. Y-hat = a + b1X1 + b2X2 + b3X3 + b4X4 -44
cuz
The constant is —8, the b1 coefficient is 14, the b2 -8+(14x1)+(20x2)+(-
coefficient is 20, the b3 coefficient is —18, the b4
coefficient is —9, x1 is 1, x2 is 2, x3 is 3 and x4 is 4.
What is the predicted value of Y?
O 28
O -44
O 64
O -28
O 44
9.
Study online at https://quizlet.com/_9tg0q7
1. 1 A car stereo company is planning to introduce a Quantitative
new product into the market. It faces stiff competition cuz break-even
from two other organizations with similar products. analysis using
The company's marketing manager has asked the price points in-
production manager to perform a break-even analy- volves numbers
sis using three different price points. The marketing Quantitative or
manager will use the results to set a price for the new Quantity=Number
product.
Which type of method is a break-even analysis?
O Expert judgment
O Quantitative
O Qualitative
O Payback table
2. 2 Over the last three months, a small rural hospital Qualitative
has seen a sudden increase in the number of patients cuz a why you se-
coming to the emergency room for non-emergency lected question is
treatment. The hospital administrator wants to know an opinion.
why there is a sudden increase in demand and is Qualitative or
considering three options to find out. Classify each Quality=Opinion
method available to the administrator as qualitative
or quantitative. Quantitative -
Answer options may be used more than once or not Pulling data
at all. Select your answers from the pull-down list. cuz the ques-
tion can be
Including an open-ended question on the intake form counted like
asking patients, "Please explain why you selected 1+2+3+4+5=15.
this ER for treatment." Intake forms can be sorted Quantitative or
into non-emergency and emergency categories; the Quantity=Number
"non-emergency"
responses can be analyzed to determine reasons the Qualitative - Brain-
hospital was selected = Qualitative storming ER vis-
its.
Pulling the hospital's records for the last 10 years Qualitative or
and sorting by medical codes to check for similar Quality=Opinion
patterns in past years. A regression model can be
built using non-emergency treatments as the depen-
dent variable, and various independent variables can
be tested, such as population change and unemploy-
, WGU C723 Quantitative Analysis For Business - Pre Assessment
Study online at https://quizlet.com/_9tg0q7
ment levels. = Quantitative
Group brainstorming with the nurses and doctors in
the hospital to see what ideas people have for why so
many
people are suddenly coming to the ER for non-emer-
gency treatment. = Qualitative
3. 3. A local music store that hosts live music has been Quantitative
a very popular hangout for years. However, the owner cuz counting num-
is concerned that the increasing popularity of new ber cost of build-
methods of music delivery will soon make the busi- ing, food, drink,
ness obsolete. The owner is considering building a etc. Quantitative
small recording studio in the basement of the store. or Quantity=Num-
The nearest professional studio is 50 miles away, ber.
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
4. 4 How should quantitative analysis improve subse- It will let the com-
quent decision making for a firm that wants to de- pany determine
termine whether its revenue has been increasing or the average rev-
decreasing for the past 10 years? enue it made.
cuz revenue is the
O It will help the company see why it has been making question to an-
a profit swer
O It will let the company determine the average rev-
, WGU C723 Quantitative Analysis For Business - Pre Assessment
Study online at https://quizlet.com/_9tg0q7
enue it made.
O It will help the company see which customers
bought its items.
O It will help the company see the competitors' aver-
age revenue.
5. 5 An employee working for the Highway Safety De- Use a multiple
partment in Albany, New York has the job to predict regression equa-
the automobile accidents in Albany for the next year. tion using accident
The employee currently has monthly data on the fol- as the dependent
lowing variables for the city of Albany: the number of variable and oth-
automobiles registered, the sales of alcoholic bever- ers as indepen-
ages, and the rainfall in inches. dent variables.
How can this employee realistically predict the acci- cuz accidents the
dents in Albany for next year? question, are the
dependent vari-
O Use the ratio of accidents versus each of the other able the reason
variables and then average the three values why is because
rain, alcohol, dis-
O Use a multiple regression equation using accident tracted, etc.
as the dependent variable and others as independent
variables
O Use a multiple regression equation using automo-
biles registered as the dependent variable and others
as independent variables
O Use the sales of alcoholic beverages because the
other variables are less significant
6. 6. A marketing manager for a corporation that mar- Compute season-
kets a broad range of food brands needs to plan a ality (seasonal)
monthly marketing, advertising, and sales promotion indices (indexes)
budget for next year and is looking at monthly sales. for each month
One brand shows dramatic fluctuations in sales over to forecast next
the past three years. year's monthly
sales.
How should this manager use quantitative analysis to
make budgeting decisions for this brand? cuz it will give you
, WGU C723 Quantitative Analysis For Business - Pre Assessment
Study online at https://quizlet.com/_9tg0q7
visuals to see fluc-
O Compute quarterly averages based on each month tuations in price
in the quarter over time.
O Use last year's budget amounts regardless of aver-
age sales values
O Compute seasonality indices for each month to
forecast next year's monthly sales
O Use average sales values for all of the months over
the past two years
7. 7 Y-hat=a+b1X1 +b2X2 9
The constant is 3, the bl coefficient is 4, the b2 coef- cuz
ficient is —1, X1 is 3, and X2 is 6 3+(4x3)+(-1x6)=9
What is the predicted value of Y?
O 15
O9
O 11
O 13
O8
8. 8. Y-hat = a + b1X1 + b2X2 + b3X3 + b4X4 -44
cuz
The constant is —8, the b1 coefficient is 14, the b2 -8+(14x1)+(20x2)+(-
coefficient is 20, the b3 coefficient is —18, the b4
coefficient is —9, x1 is 1, x2 is 2, x3 is 3 and x4 is 4.
What is the predicted value of Y?
O 28
O -44
O 64
O -28
O 44
9.
