WGU C723 QUANTITATIVE ANALYSIS FOR BUSINESS
EXAM 2024 ACTUAL EXAM 2 VERSIONS COMPLETE 400
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY 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? - ANSWER: 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. - ANSWER: 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? -
ANSWER: 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? - ANSWER: 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? -
ANSWER: 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? - ANSWER: 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? - ANSWER: 9
Y-hat = a + b 1 X 1 + b 2 X 2 + b 3 X 3 + b 4 X 4 - ANSWER: -44
What is the value of the following expression?
7 ^ 2/3^ 4 - ANSWER: 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
EXAM 2024 ACTUAL EXAM 2 VERSIONS COMPLETE 400
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY 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? - ANSWER: 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. - ANSWER: 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? -
ANSWER: 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? - ANSWER: 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? -
ANSWER: 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? - ANSWER: 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? - ANSWER: 9
Y-hat = a + b 1 X 1 + b 2 X 2 + b 3 X 3 + b 4 X 4 - ANSWER: -44
What is the value of the following expression?
7 ^ 2/3^ 4 - ANSWER: 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
