Pre-Assessment C723
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
pg. 1
,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
pg. 2
,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
pg. 3
, 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
pg. 4
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
pg. 1
,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
pg. 2
,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
pg. 3
, 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
pg. 4
