WGU Data Driven Decision Making -
C207 Exam Update 2024 Questions and
Correct Answers Rated A+
Activities (RBM stage) -ANSWER-second step involves the process that
converts inputs to outputs (actions necessary to produces results - training,
evaluating, developing)
Alternative hypothesis -ANSWER-The argument that either a sample is not
equal to, greater than, or less than the hypothesized null sample
Analysis of Variance (ANOVA) -ANSWER-a technique used to determine if
there is a sufficient evidence from sample data of three or more populations
to conclude that the means of the population are not all equal
Analytics -ANSWER-The discovery, analysis, and communication of
meaningful patterns in data.
Autocorrelation -ANSWER-A relationship between two variables that is
inherently non-linear
Balanced Scorecard -ANSWER-An approach using multiple measures to
evaluate performance, including financial measures, and the non-financial
measures of customers, internal business processes, and learning and
growth.
Bar chart -ANSWER-A graph that measures the distribution of data over
discrete groups or categories.
Benchmarks -ANSWER-Standards or points of reference for an industry or
sector that can be used for comparison and evaluation.
,Big Data -ANSWER-very large amounts of data; an all-encompassing term
for any collection of data sets so large and complex that it becomes difficult
to process them using traditional data processing applications
Blind Study -ANSWER-A study performed where the participants are not
told if they are in the treatment group or control group
body mass index (BMI) -ANSWER-A measure, based on a person's weight
and height, that is used to classify people as underweight or overweight.
Business process -ANSWER-A sequence of logically related and time
based work activities to provide a specific output for a customer.
Central Limit Theorem -ANSWER-A theorem that states that, the greater
the sample, the closer the mean of the sample is to the entire population
and the more the results will look like a normal distribution
Cluster Analysis -ANSWER-The process of arranging terms or values
based on different variables into "natural" groups
Cointegration -ANSWER-Occurs when two time series are moving with a
common pattern due to a connection between the two time series
Combination -ANSWER-The number of different unordered possibilities for
a certain situation.
Complement -ANSWER-The occurrence of an event not happening, the
opposite
Confidence interval -ANSWER-An interval estimate used to indicate
reliability
Continuous Data -ANSWER-Data that can lay along any point in a range of
data
, Control chart -ANSWER-A graphic display of process data over time and
against established control limits, and that has a centerline that assists in
detecting a trend of plotted values toward either control limit.
Control limits -ANSWER-The area composed of three standard deviations
on either side of the centerline, or mean, of a normal distribution of data
plotted on a control chart that reflects the expected variation in the data
Criterion-reference test -ANSWER-compare an individual to certain defined
standards
Critical Success Factors -ANSWER-The important things an entity must do
to be successful, such as quality measures, customer service, or efficiency.
Cumulative Average-Time Learning Model -ANSWER-A learning curve
model in which the cumulative average time per unit declines by a constant
percentage each time the cumulative quantity of units produced is doubled
Cumulative distributions -ANSWER-The probability that a random variable
will be found at a value less than or equal to a given number
Customer satisfaction -ANSWER-A measure of the extent to which
customers are satisfied with the products and related services they
received from a supplier.
Cycle time -ANSWER-The total elapsed time to move a unit of work from
the beginning to the end of a physical process, as defined by the producer
and the customer.
Cyclicality -ANSWER-Repetition of up (peaks) or down movements
(troughs) that follow or counteract a business cycle that can last several
years
Data Management -ANSWER-The management, including cleaning and
storage, of collected data.
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