WGU C723 Quantitative Analysis For Business Pre Assessment

WGU C723 Quantitative Analysis For Business Pre Assessment 5.0 (1 review) Students also studied Terms in this set (54) Western Governors UniversityIT C182 Save C723 Quantitative Analysis For Busin...54 terms cook_arlynnPreview Pre-Assessment C723 12 terms martina_karg7 Preview Project Management 64 terms sceseanPreview Project 185 term bla

• 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 Quantitative cuz break-even analysis using price points involves numbers Quantitative or Quantity=Number

• 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 model can be built using non- emergency treatments as the dependent variable, and various independent variables can be tested, such as population change and unemployment levels.Qualitative 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- emergency treatment.Quantitative 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

• 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 Quantitative cuz counting number cost of building, food, drink, etc. Quantitative or Quantity=Number.

• 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.It will let the company determine the average revenue it made.cuz revenue is the question to answer

• 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 O Use the sales of alcoholic beverages because the other variables are less significant Use a multiple regression equation using accident as the dependent variable and others as independent variables.cuz accidents the question, are the dependent variable the reason why is because rain, alcohol, distracted, etc.

• A marketing manager for a corporation that markets a

broad range of food brands needs to plan a monthly marketing, advertising, and sales promotion budget for next year and is looking at monthly sales. One brand shows dramatic fluctuations in sales over the past three years.How should this manager use quantitative analysis to make budgeting decisions for this brand?O Compute quarterly averages based on each month in the quarter O Use last year's budget amounts regardless of average 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 Compute seasonality (seasonal) indices (indexes) for each month to forecast next year's monthly sales.cuz it will give you visuals to see fluctuations in price over time.