Pre-Assessment - Quantitative Analysis For Business (PHFO)

Pre-Assessment - Quantitative Analysis For Business

(PHFO)

Leave the first rating Students also studied Terms in this set (54) Save Pre-Assessment - Quantitative Anal...54 terms cfisher0110Preview WGU C723 Quantitative Analysis For...54 terms abbey_michelle_davis Preview WGU D358 Study Guide 184 terms lvm10Preview

D080 P

70 terms JAD 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?Quantitative 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.Qualitative--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.Quantitative 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.

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?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 seasonality indices for each month to forecast next year's monthly sales Y-hat = a + b 1 X 1 + b 2 X 2 The constant is 3, the b 1 coefficient is 4, the b 2 coefficient is -1, X 1 is 3, and X 2 is 6.What is the predicted value of Y?9 Y-hat = a + b 1 X 1 + b 2 X 2 + b 3 X 3 + b 4 X 4-44

What is the value of the following expression?

7 ^ 2/3^ 4

49/81 = 0.6049

A hair stylist placed an ad on the home page of the online community shopper website. Daily site visit demographics indicate the following age categories of

visitors:

Age Category Age Range Percent of Site Visits A Younger than age 18 10 B Ages 18 to 24 13 C Ages 25 to 36 15 D Ages 37 to 51 27 E Ages 52 to 63 21 F Age 64 and older 14 48% A hair stylist used market research to learn that members of different age groups have different preferences for positive and negative advertisements. Research participants could mark their preference for only one of the two ads. The positive ad presented a model with attractive hair supported by a message affirming the decision to schedule hair styling services, whereas the negative ad displayed a model with unattractive hair supported by a message describing the need for hair

styling services. Results are shown in the table below:

Image What is the probability of being in the youngest or oldest age categories and having a preference for positive hair styling ads?6%

A restaurant review blogger uses a product to collect • the number of page views, date, and time of page views; • the number of followers who are alerted by email each time the blogger posts a new restaurant review; • the number of impressions (appearances onscreen) each visual advertisement earns each day or week; • the number of times a visual ad is clicked and the user is taken to an outside website; • the number of times a link is clicked and the user is taken to an outside website; and • various audience characteristics such as use of a mobile or regular computer, the ZIP code (location) of the access device, and time of day the engagement occurred per user.After 26 weeks of data collection, the blogger believes there is supporting evidence to charge fees for ad and link placement, which until now has been offered free to a dozen restaurants. Results are reflected in the graph

below:

Image What does the above graph indicate about new followers?New followers tend to follow the blog on a random basis.A professor selected a recent sample of five students' Introduction to Management midterm grades to perform

an analysis. The grades selected were as follows:

70 85 98 70 82

What is the median of this data set?82 A county college has five sections of an Elementary Principles in Finance course and the number of students

in each section is as follows:

65 80 93 65 77

65 The histogram below represents the approximate weight in kilograms of bags scanned at the check-in counter for a flight on Thanksgiving Day.How many bags were scanned?80 The histogram below represents the approximate number of packages processed by weight in pounds for a certain zip code at a local mail-sorting facility.How many packages weighed between 34 and 50 lb inclusive?36