QUANTITATIVE ANALYSIS FOR
BUSINESS QUESTIONS WITH 100%
CORRECT ANSWERS { GRADED A+}
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
BUSINESS QUESTIONS WITH 100%
CORRECT ANSWERS { GRADED A+}
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
