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    Question

    Which of the following best describes quantitative data in a business analysis context?

    A It captures opinions, motivations, and subjective feedback from consumers. Correct Answer Incorrect Answer
    B It involves numerical values that can be measured, counted, and statistically analyzed. Correct Answer Incorrect Answer
    C It is primarily used to identify consumer emotions and satisfaction levels. Correct Answer Incorrect Answer
    D It consists of non-numerical data that are hard to convert into numbers. Correct Answer Incorrect Answer
    E It is usually represented in text form and often gathered through surveys or interviews. Correct Answer Incorrect Answer

    Solution

    Quantitative data refers to numerical information that can be quantified and is ideal for statistical analysis, providing measurable evidence. In business analysis, quantitative data might include sales figures, revenue, cost metrics, and customer counts. This type of data allows analysts to apply mathematical models to draw insights and forecasts, making it crucial for evidence-based decision-making. In contrast, qualitative data focuses more on opinions and attitudes, which are less suited to statistical models. Option A is incorrect as it describes qualitative data, which captures subjective opinions. Option C is incorrect as consumer emotions and satisfaction are aspects of qualitative data. Option D is incorrect because non-numerical data typically align with qualitative, not quantitative data. Option E is incorrect as qualitative data is often gathered through text forms like surveys, but quantitative data is measured in numbers.

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