WGU C723 - Quantitative Analysis for
Businesses
Quantitative Analysis - CORRECT ANSWER - Analysis using objective data
Qualitative Analysis - CORRECT ANSWER - Analysis using subjective data
Response Variable - CORRECT ANSWER - Another name for the dependent variable
Explanatory Variable - CORRECT ANSWER - Another name for the independent variable
Negative Correlation - CORRECT ANSWER - Correlation that occurs when one variable
increases and the other variable decreases
Positive Correlation - CORRECT ANSWER - Correlation that occurs when one variable increases
and the other variable increases, too
Nonnumeric Data - CORRECT ANSWER - Data of a form such as words, symbols, or letters that
are not used in calculations
Numerical Data - CORRECT ANSWER - Data represented by numbers
Trendline - CORRECT ANSWER - Line that shows the general direction of the relationship of
points over time
Objective Data - CORRECT ANSWER - Measurable data often obtained through observations or
testing
Correlation - CORRECT ANSWER - Measure of the strength of the linear relationship between
variables
Metric - CORRECT ANSWER - Measurement used to gauge performance
Forecasting - CORRECT ANSWER - Method or process used to make short range decisions
where the actual outcomes have not yet occurred
Subjective Data - CORRECT ANSWER - Non-measurable data often obtained through surveys
or interviews
Descriptive Statistics - CORRECT ANSWER - The analysis of data to describe, interpret, and
summarize data in a meaningful way to find patterns
Inferential Statistics - CORRECT ANSWER - The analysis of data to reach conclusions,
generalizations, and estimations based on a small sample of the population
Statistics - CORRECT ANSWER - The gathering, organizing, and interpreting of numerical data
Moderating Variable - CORRECT ANSWER - Variable that changes the effect of independent
variable on the dependent variable
Mediating Variable - CORRECT ANSWER - Variable that explains the relationship between the
independent and dependent variables
Dependent Variable - CORRECT ANSWER - Variable that is being measured or affected
Independent Variable - CORRECT ANSWER - Variable that is free to change in a given model
Businesses
Quantitative Analysis - CORRECT ANSWER - Analysis using objective data
Qualitative Analysis - CORRECT ANSWER - Analysis using subjective data
Response Variable - CORRECT ANSWER - Another name for the dependent variable
Explanatory Variable - CORRECT ANSWER - Another name for the independent variable
Negative Correlation - CORRECT ANSWER - Correlation that occurs when one variable
increases and the other variable decreases
Positive Correlation - CORRECT ANSWER - Correlation that occurs when one variable increases
and the other variable increases, too
Nonnumeric Data - CORRECT ANSWER - Data of a form such as words, symbols, or letters that
are not used in calculations
Numerical Data - CORRECT ANSWER - Data represented by numbers
Trendline - CORRECT ANSWER - Line that shows the general direction of the relationship of
points over time
Objective Data - CORRECT ANSWER - Measurable data often obtained through observations or
testing
Correlation - CORRECT ANSWER - Measure of the strength of the linear relationship between
variables
Metric - CORRECT ANSWER - Measurement used to gauge performance
Forecasting - CORRECT ANSWER - Method or process used to make short range decisions
where the actual outcomes have not yet occurred
Subjective Data - CORRECT ANSWER - Non-measurable data often obtained through surveys
or interviews
Descriptive Statistics - CORRECT ANSWER - The analysis of data to describe, interpret, and
summarize data in a meaningful way to find patterns
Inferential Statistics - CORRECT ANSWER - The analysis of data to reach conclusions,
generalizations, and estimations based on a small sample of the population
Statistics - CORRECT ANSWER - The gathering, organizing, and interpreting of numerical data
Moderating Variable - CORRECT ANSWER - Variable that changes the effect of independent
variable on the dependent variable
Mediating Variable - CORRECT ANSWER - Variable that explains the relationship between the
independent and dependent variables
Dependent Variable - CORRECT ANSWER - Variable that is being measured or affected
Independent Variable - CORRECT ANSWER - Variable that is free to change in a given model
