(WGU C723) BUS 3100 Quantitative Analysis For Business - OA Review (WGU C723) BUS 3100 Quantitative Analysis For Business - OA Review (WGU C723) BUS 3100 Quantitative Analysis For Business - OA Review (WGU C723) BUS 3100 Quantitative Analysis For Business - OA Review
,1. Which of the following methods is commonly used to forecast
sales in a new market?
a) Time Series Analysis
b) Expert Judgment
c) Simple Linear Regression
d) Moving Average
Answer: b) Expert Judgment
Rationale: In new markets with little historical data, expert
judgment is often used to generate forecasts based on the
experience and insights of knowledgeable individuals.
, 3. Which of the following provides insight into the relationship
between price changes and sales volume?
a) Correlation Coefficient
b) Elasticity of Demand
c) Regression Analysis
d) Standard Deviation
Answer: b) Elasticity of Demand
Rationale: Price elasticity measures how sensitive the quantity
demanded of a good is to a change in its price.
4. What does a p-value less than 0.05 typically indicate in
hypothesis testing?
a) Accept the null hypothesis
b) Reject the null hypothesis
c) No significance of the data
d) Strong correlation
Answer: b) Reject the null hypothesis
Rationale: A p-value below the threshold indicates that the
evidence is strong enough to reject the null hypothesis in favor of
the alternative.
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