Quantitative Methods for Business Exam Materials
Course Introduction
Quantitative Methods for Business introduces students to the fundamental mathematical, statistical, and analytical techniques used to inform decision-making in a business environment. The course covers topics such as descriptive statistics, probability theory, forecasting, linear programming, decision analysis, and regression analysis. Emphasis is placed on applying these quantitative tools to solve real-world business problems, interpret data, and support strategic planning. Students will also gain proficiency in using relevant software applications to analyze data and present results effectively, equipping them with essential skills for evidence-based management.
Recommended Textbook
Basic Marketing Research Using Microsoft Excel Data Analysis 3rd Edition by Alvin C. Burns
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Chapter 1: An Introduction to Marketing Research
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Q1) According to the AMA definition of marketing,which of the following is true of marketing?
A)"Making the sale" should be considered the end of marketing.
B)Marketing is carried out for the benefit of the customer.
C)Marketing is carried out for the benefit of the stakeholders.
D)Marketing should not be considered an organizational function.
E)all of the above
Answer: C
Q2) Another use of marketing research is to monitor marketing performance,which takes place prior to implementing marketing strategies.
A)True
B)False
Answer: False
Q3) One use of marketing research is to improve marketing as a process; such research information is often published in journals such as The Journal of Marketing Research and Marketing Research.
A)True
B)False
Answer: True
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Chapter 2: The Marketing Research Industry
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Q1) The "Father of Marketing Research" is Charles Coolidge Parlin who did continuous,organized research for the Curtis Publishing Company.
A)True
B)False
Answer: True
Q2) Who is the "Father of Marketing Research"?
A)Charles Coolidge Parlin
B)Robert Bartels
C)A)C. Nielsen
D)Alfred Politz
E)J)C. Snead
Answer: A
Q3) The Honomichl Top 50 reports the top 50 international firms based on revenues.
A)True
B)False
Answer: False
Q4) Some firms serve both ultimate consumers and industrial consumers.
A)True
B)False
Answer: True
Page 4
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Chapter 3: The Marketing Research Process Including the
Problem and Research Objectives
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Q1) Which of the following is NOT true of a good research objective?
A)It specifies from whom information will be gathered.
B)It specifies what information (construct)is needed.
C)It should specify the unit of measurement used to gather the information.
D)It should word questions used to gather the information in the respondents' frame of reference.
E)It should word questions used to gather the information in the researchers' frame of reference.
Answer: E
Q2) The quantity and quality of evidence a manager possesses for each of his or her assumptions is known as the:
A)quantity and quality of evidence
B)information gap
C)information state
D)hypothesis state
E)hypothesis statement
Answer: C
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Chapter 4: Research Design Alternatives and Qualitative Research
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Sample Questions
Q1) Market-tracking studies measure some variable(s)of interest,that is,market share or unit sales over time.
A)True
B)False
Q2) Which of the following describes a simulated test market?
A)It is one in which the firm tests the product or marketing-mix variables through the company's normal distribution channels.
B)It is conducted by outside research firms that guarantee distribution of the product through prespecified types and numbers of distributors.
C)It includes a panel of consumers that has agreed to carry identification cards that each consumer presents when buying goods and services.
D)A limited amount of data on consumer response to a new product is fed into a model containing certain assumptions regarding planned marketing programs, which generates likely product sales volume.
E)none of the above
Q3) Simulated test markets are conducted on computers without any consumer input.
A)True
B)False
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Chapter 5: Information Types and Sources: Secondary Data and
Standardized Information
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Q1) External secondary data was classified in your textbook into three sources: published,non-published,and video.
A)True
B)False
Q2) Which of the following is true regarding secondary data?
A)It is rare for a marketing research project to be conducted without including some secondary data.
B)Some research projects may be totally based upon secondary data.
C)There can be many uses of secondary data.
D)Secondary data have many applications including economic trend forecasting and competitive intelligence.
E)all of the above are true
Q3) One of the advantages of using secondary data is that it may enhance primary data.
A)True
B)False
Q4) One key advantage of syndicated data is shared costs.
A)True
B)False
7
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Chapter 6: Data Collection Methods
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Q1) Which of the following is a disadvantage of person-administered surveys?
A)They are slower than other methods.
B)They are more expensive.
C)They are prone to errors.
D)High cost.
E)all of the above
Q2) When time is an important consideration,which data collection method is best?
A)mail surveys
B)drop-off surveys
C)in-home interviews
D)telephone surveys
E)in-office surveys
Q3) Surveys conducted without the presence of an agent--human or computer--are referred to as self-administered surveys.
A)True
B)False
Q4) A disadvantage of in-office interviews is that interviewers must be at a certain place at an exact time.
A)True
B)False
Page 8
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Chapter 7: Measurement Scales
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Q1) To summarize findings for metric measures the researcher should:
A)not try to summarize findings to metric measures; it is inappropriate
B)use a percentage distribution (sometimes called a frequency distribution)
C)compute a frequency deviation
D)compute an average such as a mean
E)compute histograms
Q2) When a researcher specifies the procedure to measure a property of an object,the procedure is referred to as a measurement level.
A)True
B)False
Q3) ________ measurement is difficult to work with and requires interpretation skills or even special computer programs.
A)Scientific
B)Open-ended
C)Metric
D)Whimsical
E)Elemental
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Chapter 8: Designing Data Collection Forms
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Q1) Question bias amounts to scrutinizing the wording of a question to ensure that question bias is minimized and that the question is worded such that respondents understand it and can respond to it with relative ease.
A)True
B)False
Q2) Researchers agree that screening questions should appear early,at least in the top third of question sequencing,so as not to waste anyone's time.
A)True
B)False
Q3) Questions about the highest level of education a respondent has attained,their age,their income level,or marital status are classification questions.
A)True
B)False
Q4) Studies have shown that though the design of a questionnaire is very important,it does not directly affect the quality of the data collected.
A)True
B)False
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Chapter 9: Determining Sample Size and the Sample Plan
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Sample Questions
Q1) For a 95% confidence level,z=
A)2)58
B)2)38
C)1)99
D)1)96
E)1)00
Q2) Sample frame error refers solely to overrepresentations of the true population in a sample frame.
A)True
B)False
Q3) Accuracy is expressed as a ± x% number.
A)True
B)False
Q4) What does the p stand for in the confidence interval formula for sample size?
A)estimated percentage of the population
B)actual percentage of the population
C)estimated percentage of the sample
D)a parsimonious sample size
E)none of the above
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Chapter 10: Data Issues and Inputting Data Into Xl Data
Analyst
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Q1) The XL Data Analyst produces tables that can be copied and pasted into word processor applications such as Microsoft Word without the need for extensive reformatting into professionally appearing tables.
A)True
B)False
Q2) A(n)________ occurs when a respondent reaches a certain point,and then decides not to answer any more questions for the survey.
A)refusal
B)break-off
C)item omission
D)perplexing situation
E)desertion
Q3) Data coding refers to the creation of a computer file that holds the raw data taken from all of the acceptable completed questionnaires.
A)True
B)False
Q4) Break-offs,item omissions,and problem respondents are uncommon in the industry.
A)True
B)False
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Chapter 11: Summarizing Your Data
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Q1) If our research objective is to summarize the data in the sample,we should use percentages if the variable has a metric scale.
A)True
B)False
Q2) Which of the following best describes a data set?
A)the creation of a computer file that holds output of statistical analyses on all of the questionnaires deemed suitable for analysis
B)identification of codes that pertain to the possible responses for each question on the questionnaire
C)identification of all the variable names and code numbers associated with each possible response to each question making up the data set
D)a matrix of numbers and other representations that include all of the relevant answers by all of the respondents in a survey
E)none of the above
Q3) The typical response is referred to as the central tendency.
A)True
B)False
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Chapter 12: Generalizing Your Findings
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Q1) Which is not true of the z ,formula for a population percentage estimation?
A)The z stands for the z value for the level of confidence.
B)The z value will typically be for a 95% or 99% level of confidence.
C)The a equals the sample percentage.
D)The a will typically be for a 95% or 99% level of confidence.
E)The z value will normally correspond to ±1.96 or ±2.58 standard errors.
Q2) Estimates are estimates because they are always hindered by:
A)sample error
B)population error
C)statistical analysis error
D)the media
E)client's preferences
Q3) If we used a confidence interval to estimate market potential,the lower and upper values could be used to create a(n):
A)correct, incorrect estimate
B)pessimistic, optimistic estimate
C)average, median estimate
D)likely, unlikely estimate
E)none of the above; confidence intervals may not be used to estimate market potential
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Chapter 14: Determining Relationships
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Sample Questions
Q1) What is the intersection of a row and a column in a cross-tabulation table called?
A)a "cross-tabulation cell"
B)a dangerous intersection
C)a chi-square
D)a "cross-cell interaction"
E)an intersect cell
Q2) Which of the following is NOT true of a scatter diagram?
A)It plots data pairs in an x- and y-axis graph.
B)It will portray the amount of covariation between two metric variables.
C)It plots the points corresponding to each matched pair of x and y variables.
D)When there is no apparent association or relationship between two variables, the points on a scatter diagram fail to create any identifiable pattern.
E)There is no relationship between scatter diagrams and correlation coefficients.
Q3) Chi-square analysis can determine if there is a significant relationship between two categorical variables.
A)True
B)False
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Chapter 13: Finding Differences
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Q1) ANOVA is an efficient way to compare:
A)two groups averages
B)two groups percentages
C)three or more groups variances
D)three or more groups averages
E)three or more groups percentages
Q2) When the researcher is reporting differences found from ANOVA,the table presentation becomes more challenging as there can be overlaps of nonsignificant differences and significant differences.
A)True
B)False
Q3) What is the label for the output for comparing the averages on two variables among the same sample member?
A)Two Paired Variable Averages Differences Test Analysis Results
B)Three Independent Variable Averages Differences Test Analysis Results
C)Two Independent Variable Averages Differences Test Analysis Results
D)all of the above are used; the output label changes depending on the variables tested
E)none of the above are used; the output label is unknowable
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Chapter 15: Preparing and Presenting Your Research Report
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Q1) Research is conducted to determine which type of car is most preferred.The sports car has the highest preference ratings among the five cars that were test-driven.This is:
A)a recommendation
B)a conclusion
C)information that should be included in the front matter
D)a fact that must be substantiated in an oral report
E)a fact that should only be included in an oral report
Q2) Pie charts are particularly useful for illustrating:
A)relative size or static comparisons
B)items over time
C)relationships found in the data
D)ratio-scaled data
E)flow of topics
Q3) Tables:
A)identify exact values
B)show locations
C)show visual details
D)are line graphs
E)are photos of charts
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