Ch 63: PLACE Business Education: Quantitative Analysis in Business

About This Chapter

View our video lessons to review principles of quantitative analysis in business. These lessons provide you with an easy and efficient way to prepare for these types of questions on the PLACE Business Education test.

PLACE Business Education: Quantitative Analysis in Business - Chapter Summary

Re-familiarize yourself with the key concepts and methods of quantitative analysis in business by watching our short, engaging video lessons. The lessons can help you prepare for questions on the PLACE Business Education about the following topics:

  • Quantitative data and decision-making tools
  • Calculating percent increase with relative and cumulative frequency tables
  • Analyzing and making predictions using categorical data and quantitative data
  • Two-way tables and histograms
  • Reading and interpreting line graphs, bar graphs and pie charts
  • Defining and examining center, shape and spread
  • Finding a relationship between quantitative variables
  • Making predictions using quantitative data

Our instructors, experts in their fields, break complex subjects into easy to understand components to help you quickly grasp the materials presented in each lesson. Watch the videos as many times as you'd like or look at the text lessons for additional information on key terms. Take the quiz offered with each lesson to test your mastery of the subject matter.

Objectives of the PLACE Business Education: Quantitative Analysis in Business Chapter

The PLACE Business Education test is required by the state of Colorado for candidates seeking to attain licensure to teach business classes in secondary schools. The test, offered in paper and pencil formats only, consists of 100 multiple choice questions. Each test session is 4.5 hours long.

The PLACE Business Education test is divided into five categories: business management and communication, economics and personal finance, technology and information systems, business education programs, and accounting, finance and business law. Our video lessons will help you prepare for quantitative analysis questions that may appear on the test within the accounting, finance and business law section.

14 Lessons in Chapter 63: PLACE Business Education: Quantitative Analysis in Business
Test your knowledge with a 30-question chapter practice test
Quantitative Decision Making Tools: Decision Trees, Payback Analysis & Simulations

1. Quantitative Decision Making Tools: Decision Trees, Payback Analysis & Simulations

Successful managers use decision-making tools to analyze a problem and try to determine the best solution for that problem. Here, we will discuss three main decision-making tools and help you to understand their function and implementation.

Statistical Analysis with Categorical Data

2. Statistical Analysis with Categorical Data

Learn why percentages are so important when analyzing categorical data in this video lesson. Watch as the data is turned into a data table and a visual bar graph as ways to analyze the data.

Summarizing Categorical Data using Tables

3. Summarizing Categorical Data using Tables

Watch this video lesson to find out why data tables are an excellent way to summarize your categorical data. Learn what you need to do to your data before constructing a table and the two ways you can show your data.

How to Calculate Percent Increase with Relative & Cumulative Frequency Tables

4. How to Calculate Percent Increase with Relative & Cumulative Frequency Tables

In statistics, one way to describe and analyze data is by using frequency tables. This lesson will discuss relative and cumulative frequencies and how to calculate percent increase using these two methods.

What is a Two-Way Table?

5. What is a Two-Way Table?

Do you believe in Martians? Do you watch football on television? A Two-Way Table or Contingency Table is a great way to show the results of all kinds of survey questions. In this video we will learn how to read a two-way table.

Make Estimates and Predictions from Categorical Data

6. Make Estimates and Predictions from Categorical Data

Categorical data can be estimated but not predicted. Learn why in this video lesson along with how to read and gather information from a bar graph of categorical data.

What is Quantitative Data? - Definition & Examples

7. What is Quantitative Data? - Definition & Examples

Watch this video lesson to find out the difference between saying you have seven apples and saying that those apples are delicious. You will learn about quantitative data and why it is useful.

What is a Histogram in Math? - Definition & Examples

8. What is a Histogram in Math? - Definition & Examples

Watch this video lesson to see how useful a histogram can be when you need to show a bunch of data in an easy to read format. Also, learn how you can easily gather the information you need from looking at a histogram.

What are Center, Shape, and Spread?

9. What are Center, Shape, and Spread?

Center, shape, and spread are all words that describe what a particular graph looks like. Watch this video lesson to see how you can identify and explain each.

Describing the Relationship between Two Quantitative Variables

10. Describing the Relationship between Two Quantitative Variables

In this video lesson, you will learn about quantitative variables, what they are, and how one variable relates to another. You will learn why this is important and why it can sometimes even save lives.

Reading and Interpreting Line Graphs

11. Reading and Interpreting Line Graphs

Watch this video lesson to find out how useful line graphs can be and how much information you can gain just from looking at one. Learn how you can apply that information in your own life to help you make better decisions.

Understanding Bar Graphs and Pie Charts

12. Understanding Bar Graphs and Pie Charts

In this lesson, we will examine two of the most widely used types of graphs: bar graphs and pie charts. These two graphs can provide the reader with a comparison of the different data that is displayed.

Interpreting Graphical Representations

13. Interpreting Graphical Representations

After watching this video lesson, you will be able to quickly and easily read and interpret any line and bar graph. You will be able to gather important information by just looking at one of these graphs.

Making Estimates and Predictions using Quantitative Data

14. Making Estimates and Predictions using Quantitative Data

Watch this video lesson to learn how you can read a scatter plot to learn more about a particular situation. Also learn how you can make estimates within the range of data you have and predict what may happen outside the range of data.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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