2025 Summary C723 Quantitative Analysis for Business Study Guide WGU With Correct Answers

2025 Summary C723 Quantitative Analysis for Business
Study Guide WGU With Correct Answers


Statistics

The gathering, organizing, and interpreting of numerical data



Moderating Variable

Variable that changes the effect of independent variable on the dependent variable



Dependent Variable

Variable that is being measured or affected



Independent Variable

Variable that is free to change in a given model



Quantitative Analysis: models

-Decision Tree
-Network Diagram
-ANOVA
-Linear regression
-Linear Programming
-Break-even Analysis
-Simulation
-and more

Qualitative Analysis: Models

- Surveys
-Brainstorming Session

, -Raking (favorites)
-Subjective Judgment
-and more



Quantitative Analysis

Analysis using objective data




Qualitative Analysis

Analysis using subjective Data



Response Variable

Another name for the dependent variable



Explanatory Variable

Another name for the dependent variable



Negative Correclation

Correlation that occurs when one variable increases and the other variable decreases



Positive Correlation

Correlation that occurs when one variable and the other



Nonnumeric Data

Data of a form such as words, symbols, or letters that are not used in calculations



Numerical Data