GMAT Exam > GMAT Videos > Crash Course for GMAT > Basics of Quant - 2
Basics of Quant - 2 Video Lecture | Crash Course for GMAT
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FAQs on Basics of Quant - 2 Video Lecture - Crash Course for GMAT
| 1. What are the basic concepts of quantitative analysis? |  |
Ans. Quantitative analysis is a method of understanding and interpreting data through mathematical and statistical techniques. The basic concepts include data collection, data analysis, hypothesis testing, and result interpretation.
| 2. How is quantitative analysis different from qualitative analysis? | |
Ans. Quantitative analysis involves the use of numerical data and mathematical calculations to draw conclusions. On the other hand, qualitative analysis focuses on non-numerical data, such as opinions and observations, to gain insights.
| 3. What are some common statistical techniques used in quantitative analysis? | |
Ans. There are several statistical techniques used in quantitative analysis, including mean, median, mode, standard deviation, correlation analysis, regression analysis, and hypothesis testing.
| 4. How can quantitative analysis be applied in business decision-making? | |
Ans. Quantitative analysis can be applied in business decision-making by analyzing sales data, market trends, customer behavior, and financial performance. This helps businesses make informed decisions regarding pricing, marketing strategies, inventory management, and resource allocation.
| 5. What are the advantages of using quantitative analysis? | |
Ans. Some advantages of using quantitative analysis include objectivity, reliability, the ability to analyze large datasets efficiently, and the ability to identify patterns, trends, and relationships in the data. It also allows for data-driven decision-making, which can lead to more accurate and informed choices.
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Nov 22, 2024 Last updated |
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