C723 QUANTITATIVE ANALYSIS QUESTIONS &
ANSWERS
Appropriate and useful quantitative analysis ensures of ______ data to understand a
business situation - Answers - valid and measurable
When is quantitative analysis most useful? - Answers - When the problem being
evaluated can be represented by discrete data are valid, objective, and reliable.
Under what circumstances could quantitative analysis be used successfully? - Answers
- When the problem being analyzed can be numerically represented and valid and
reliable data are available
Which of the following accurately describes quantitative analysis? - Answers - Ensuring
the use of valid, reliable, and objectively measurable data in order to understand a
phenomenon
What would be the best reason for not wanting to use quantitative analysis? - Answers -
When the problem being evaluated lacks the presence of objective, valid, reliable, and
measurable data to use for the analysis
What would be the best application of quantitative analysis for the situations below? -
Answers - A marketing director wants to determine the average household income of
the company's key customers.
In defining a cause and effect relationship, the variable that drives some change in
another variable is called what? - Answers - Independent variable
In defining a cause and effect relationship, the variable that is changed as a result of the
action of some other variable is called what? - Answers - Dependent variable
If there is a linear relationship between variables, we can say they are correlated.
Determining that variables are correlated is very important; however, to draw specific
conclusions about the cause and effect relationship will take additional advanced
analytical techniques to further test the relationship in order to exclude other
contributory factors that could have caused the change.
When we have established a positive relationship between two variables, what can we
conclude? - Answers - There is an association between the variables but not proof that
a change in one causes a change in the other.
In determining relationships between cause and effect, what does it mean if one
variable increases as the other variable also increases? - Answers - That there is a
positive correlation between the variables
,In studying cause and effect relationships, what can we say when there is a positive
relationship between the variables? - Answers - When the independent variable
increases, the dependent variable will increase at a proportionate rate.
Although there are many benefits to forecasting, the primary purpose of forecasting is to
control the _______ situation in order to make better decisions. - Answers - current
Forecasting is used in order to help establish the ______ of a future event. - Answers -
probability
One purpose behind business forecasting it to estimate future demand. This is
particularly helpful for an operations manager to manage the use of today's _______ in
order to succeed in the future. - Answers - assets
One purpose behind business forecasting is to estimate future demand. Forecasting
gives planners the ability to make prudent ______ among/for _______ in order to
maximize their likelihood for success. - Answers - choices; several alternatives
What is the best description of an open-ended question? - Answers - A question that
can be answered multiple ways
What is a key difficulty associated with using an open-ended questions? - Answers -
The answers may not address the researcher's key question.
What is a key advantage in using closed-ended questions? - Answers - They are easier
to quantify and categorize.
Under what circumstances might a researcher want to use closed-ended questions and
not open-ended questions? - Answers - When the research knows the reasonable field
of alternative answers
There are several advantages to using closed-ended questions, saving time is one.
How is this possible? - Answers - The questions limit the range of possible answers
available.
A quantitative analysis can benefit by a researcher incorporating closed-ended
questions to gain specific information. Research questions would be considered closed
when the respondent can only select a specific answer. By using closed-ended
questions, the researcher can ensure data validity and consistency. It is common for
researchers to qualify their survey questions beforehand by validating that the
responses will be closed ended.
Using the qualified closed-ended questions will then help ensure that the actual
responses from the universe of respondents will be credible and consistent. How is this
, possible? - Answers - The questions and responses can be qualified or validated by the
researcher beforehand.
The advantage of using mathematical techniques in research and quantitative analysis
are many. Among the key advantages are the following: Using numbers for research
increases the level of _________ by more clearly defining the phenomena being
evaluated. By using numbers, one also ________ the amount of ambiguity of the topic
being evaluated. Finally, using numbers in research serves to better ________ the
extent, breadth, and nature of the phenomena being evaluated. - Answers - objectivity;
reduces; quantify
Statistics is a key methodology behind quantitative analysis and is a very robust and
complex field. Statistics seeks to collect, analyze, and________ data. A key advantage
in using statistics derives from the fact that it can draw conclusions about a(n)_______
based on a smaller______, which is representative of the whole. - Answers - interpret;
population; sample
[True/False] An example of quantitative analysis is collecting the narrative experiences
of people who were affected by the evacuation of New Orleans during Hurricane
Katrina. - Answers - False
[True/False] An example of cause and effect is seen when after 6 months of Fred never
brushing his teeth, he now has 3 cavities. - Answers - True
When would a business forecast tend to be the most accurate? - Answers - The time
nearest the period under study
[True/False] Surveys are one method of data collection and are always done face to
face. - Answers - False
There are many forms of research and analysis considered in one of two general
categories, quantitative and qualitative, both of which use mathematics to some degree.
Quantitative analysis uses mathematics and statistics for______ factors, such as means
and variation of the data. - Answers - measuring
Would a quantitative or qualitative method be used for the following?
A researcher wants to measure effectiveness of high blood pressure medicine. -
Answers - Quantitative
Would the results of literature book reviews be based on subjective or objective
analysis? - Answers - Subjective analysis
Why do decision-makers use quantitative analysis? - Answers - To identify and quantify
alternatives and consequences
ANSWERS
Appropriate and useful quantitative analysis ensures of ______ data to understand a
business situation - Answers - valid and measurable
When is quantitative analysis most useful? - Answers - When the problem being
evaluated can be represented by discrete data are valid, objective, and reliable.
Under what circumstances could quantitative analysis be used successfully? - Answers
- When the problem being analyzed can be numerically represented and valid and
reliable data are available
Which of the following accurately describes quantitative analysis? - Answers - Ensuring
the use of valid, reliable, and objectively measurable data in order to understand a
phenomenon
What would be the best reason for not wanting to use quantitative analysis? - Answers -
When the problem being evaluated lacks the presence of objective, valid, reliable, and
measurable data to use for the analysis
What would be the best application of quantitative analysis for the situations below? -
Answers - A marketing director wants to determine the average household income of
the company's key customers.
In defining a cause and effect relationship, the variable that drives some change in
another variable is called what? - Answers - Independent variable
In defining a cause and effect relationship, the variable that is changed as a result of the
action of some other variable is called what? - Answers - Dependent variable
If there is a linear relationship between variables, we can say they are correlated.
Determining that variables are correlated is very important; however, to draw specific
conclusions about the cause and effect relationship will take additional advanced
analytical techniques to further test the relationship in order to exclude other
contributory factors that could have caused the change.
When we have established a positive relationship between two variables, what can we
conclude? - Answers - There is an association between the variables but not proof that
a change in one causes a change in the other.
In determining relationships between cause and effect, what does it mean if one
variable increases as the other variable also increases? - Answers - That there is a
positive correlation between the variables
,In studying cause and effect relationships, what can we say when there is a positive
relationship between the variables? - Answers - When the independent variable
increases, the dependent variable will increase at a proportionate rate.
Although there are many benefits to forecasting, the primary purpose of forecasting is to
control the _______ situation in order to make better decisions. - Answers - current
Forecasting is used in order to help establish the ______ of a future event. - Answers -
probability
One purpose behind business forecasting it to estimate future demand. This is
particularly helpful for an operations manager to manage the use of today's _______ in
order to succeed in the future. - Answers - assets
One purpose behind business forecasting is to estimate future demand. Forecasting
gives planners the ability to make prudent ______ among/for _______ in order to
maximize their likelihood for success. - Answers - choices; several alternatives
What is the best description of an open-ended question? - Answers - A question that
can be answered multiple ways
What is a key difficulty associated with using an open-ended questions? - Answers -
The answers may not address the researcher's key question.
What is a key advantage in using closed-ended questions? - Answers - They are easier
to quantify and categorize.
Under what circumstances might a researcher want to use closed-ended questions and
not open-ended questions? - Answers - When the research knows the reasonable field
of alternative answers
There are several advantages to using closed-ended questions, saving time is one.
How is this possible? - Answers - The questions limit the range of possible answers
available.
A quantitative analysis can benefit by a researcher incorporating closed-ended
questions to gain specific information. Research questions would be considered closed
when the respondent can only select a specific answer. By using closed-ended
questions, the researcher can ensure data validity and consistency. It is common for
researchers to qualify their survey questions beforehand by validating that the
responses will be closed ended.
Using the qualified closed-ended questions will then help ensure that the actual
responses from the universe of respondents will be credible and consistent. How is this
, possible? - Answers - The questions and responses can be qualified or validated by the
researcher beforehand.
The advantage of using mathematical techniques in research and quantitative analysis
are many. Among the key advantages are the following: Using numbers for research
increases the level of _________ by more clearly defining the phenomena being
evaluated. By using numbers, one also ________ the amount of ambiguity of the topic
being evaluated. Finally, using numbers in research serves to better ________ the
extent, breadth, and nature of the phenomena being evaluated. - Answers - objectivity;
reduces; quantify
Statistics is a key methodology behind quantitative analysis and is a very robust and
complex field. Statistics seeks to collect, analyze, and________ data. A key advantage
in using statistics derives from the fact that it can draw conclusions about a(n)_______
based on a smaller______, which is representative of the whole. - Answers - interpret;
population; sample
[True/False] An example of quantitative analysis is collecting the narrative experiences
of people who were affected by the evacuation of New Orleans during Hurricane
Katrina. - Answers - False
[True/False] An example of cause and effect is seen when after 6 months of Fred never
brushing his teeth, he now has 3 cavities. - Answers - True
When would a business forecast tend to be the most accurate? - Answers - The time
nearest the period under study
[True/False] Surveys are one method of data collection and are always done face to
face. - Answers - False
There are many forms of research and analysis considered in one of two general
categories, quantitative and qualitative, both of which use mathematics to some degree.
Quantitative analysis uses mathematics and statistics for______ factors, such as means
and variation of the data. - Answers - measuring
Would a quantitative or qualitative method be used for the following?
A researcher wants to measure effectiveness of high blood pressure medicine. -
Answers - Quantitative
Would the results of literature book reviews be based on subjective or objective
analysis? - Answers - Subjective analysis
Why do decision-makers use quantitative analysis? - Answers - To identify and quantify
alternatives and consequences
