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(WGU C723) - BUS 3100 Quantitive Analysis for Bu(WGU C723) - BUS 3100 Quantitive Analysis for Business - FA Review .(WGU C723) - BUS 3100 Quantitive Analysis for Business - FA Review s - FA Review .

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C723 BUS 3100

Quantitative Analysis for
Business

FA REVIEW

©WGU 2024/2025

,1. Which of the following is a common method for forecasting in
quantitative analysis?
a) Qualitative research
b) Time series analysis
c) Regression analysis
d) Both b and c
Correct Answer: d) Both b and c
Rationale: Time series and regression analysis are both
quantitative methods commonly used for forecasting.

2. In linear regression, what does the coefficient of determination
(R²) represent?
a) The slope of the regression line
b) The correlation between the dependent and independent
variables
c) The proportion of variation in the dependent variable
explained by the independent variable
d) The sample size of the regression analysis
Correct Answer: c) The proportion of variation in the
dependent variable explained by the independent variable

©WGU 2024/2025

, Rationale: R² indicates how much of the variability in the
dependent variable can be accounted for by the independent
variables in the model.

3. What is the primary purpose of using a control chart in quality
management?
a) To forecast future sales
b) To monitor the consistency of a process over time
c) To analyze market trends
d) To make investment decisions
Correct Answer: b) To monitor the consistency of a process
over time
Rationale: Control charts are used in quality management to
track data points over time to see if the process remains stable.

### Fill-in-the-Blank Questions

4. In finance, ________ analysis evaluates the potential future
scenarios based on different assumptions about key variables.
Correct Answer: sensitivity
Rationale: Sensitivity analysis helps in understanding how
different values of an independent variable affect a particular
dependent variable under a given set of assumptions.

©WGU 2024/2025

, 5. The ________ statistical test is used to determine if there are
significant differences between the means of two groups.
Correct Answer: t-test
Rationale: The t-test is widely used for testing the differences
between the means of two groups.

6. In a decision tree, the outcomes at the end of the branches are
known as ________ or payoffs.
Correct Answer: terminal nodes
Rationale: Terminal nodes represent the final outcomes in a
decision tree model.

### True/False Questions

7. True or False: A higher p-value in hypothesis testing always
indicates a stronger statistical significance.
Correct Answer: False
Rationale: A higher p-value indicates weaker evidence against
the null hypothesis; lower p-values signify stronger statistical
significance.

©WGU 2024/2025

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