Pre-Assessment WGU C723

Pre-Assessment C723 14 studiers recently Leave the first rating Students also studied Terms in this set (12) Western Governors UniversityIT C182 Save C723 Quantitative Analysis For Busin...54 terms cook_arlynnPreview WGU C723 Quantitative Analysis For...54 terms mwell51Preview 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 organization 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?Quantitative 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 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.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.Quantitative

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 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 net present value for the studio.Which method of analysis should this owner use to make a determination?Quantitative 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?It will let the company determine the average revenue it made.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?Use a multiple regression equation using accident as the dependent variable and others as independent variables 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?Compute quarterly averages based on each month in the quarter

A textile company is a manufacturer of fireproof uniforms in Mexico. The company is planning on opening operations in the United States and Canada, which requires a capacity expansion of 100%. The company has

three alternatives: build a large plant, build a small plant,

or subcontract.There are two possible states of nature: a

favorable market and a moderate market. If the future market is favorable, the payoffs are $13, $5, and $7 million for building a large plant, building a small plant, and subcontracting, respectively. Similarly, for a future moderate market, the payoffs are $2, $8, and $3 million for building a large plant, building a small plant, and subcontracting, respectively. The company has estimated the probability of a favorable market as 0.40. The textile company needs to make a decision about either building a plant or subcontracting.What is the relationship between uncertainty and the decision-making process in this scenario?Uncertainty is less relevant to the decision-making process than risk.

A creamery purchases three different types of cheese:

panela cheese at $3.75 per pound, goat cheese at $7.10 per pound, and Oaxaca cheese at $4.50 per pound. The daily demand for each cheese is 45, 22, and 63 pounds respectively. The creamery has a dedicated supplier for each type of cheese, and the ordering cost is $2.00 per order. It is expensive to keep these products in inventory because they are highly perishable. The holding cost is estimated to be 0.5% of the purchasing price for each type of cheese. What is the estimated economic order quantity for the goat cheese?951 pounds well-known professional taxidermist pursuing an MBA degree is planning a strategy for restocking the chemicals inventory. There is a yearly demand of 24 gallons of polyester resin. The ordering cost per order is $10.00 and the holding cost per gallon each year is $0.83.In the past, the taxidermist ordered only the monthly demand of two gallons per month. However, after a quantitative methods class, the taxidermist decided to estimate the economic order quantity.Which decision should this taxidermist make to minimize the total inventory cost when ordering?Ordering once a year A small manufacturer of mountain bikes located in Denver, Colorado, buys tires from a supplier in China.There is a monthly demand of 200 tires. The cost of placing an order is $200 and the holding cost is $24 per tire per year. If the purchasing price is $45 per tire and the economic order quantity is used, what is the total annual inventory cost?

$112,800