WGU C207 Data Driven Decision Making

Random Errors - correct answer Error in measurement caused by unpredictable statistical fluctuations Information Bias - correct answer A prejudice in the data that results when either the respondent or the interviewer has an agenda and is not presenting impartial questions or responding with truly honest responses, respectively Ratio Data - correct answer Similar to interval data in that the data is ordered within a range and with each data point being an equal interval apart, also has a n...

α The lower case Greek letter "alpha" β The lower case Greek letter "beta" δ The lower case Greek letter "delta" γ The lower case Greek letter "gamma" θ The lower case Greek letter "theta" addition In sculpture, the process of adding or combining material. algebraic equation Any equation that contains variables, constants, or mathematical operations. algebraic expression A string of terms that are connected by division, addition, and subtraction operations. alterna...

life-cycle approach - correct answer dynamic, iterative process of incorporating changes in a project (or organization) over time by responding to feedback and adding new technology and new capabilities Input - correct answer The first step of RBM is to define the resources, human or financial, used by the RBM system. This could include the people who are doing the work, the funds used to finance the work, and the information being accessed. Activities - correct answer This second step of ...

Analytics is a broad term that refers to a variety of tools that inform managerial decisions. Which term can be used to describe managerial decisions? - correct answer Predictive What are two reasons for the increasing use of analytics in organizational decision making? - correct answer Relatively lower cost of computer storage Higher computer processing power In what way does probability theory inform decision-making for managers? - correct answer quantifying risk Which type of data a...

Which of the following is NOT an application of statistics in business? a Determine the internet advertiser that will reach the most people from extensive page view data. b Determine a target market based on information on household incomes throughout the country. c Predict trends in certain investments of big companies from previous results of Fortune 100 companies. d Forecast likelihood of board of director decisions from previous voting habits. - correct answer d Forecast likelihood of ...

Amanda is measuring the temperature. She looks at the thermometer and sees that it is somewhere between 65 and 66 degrees Fahrenheit. She is okay with the temperature in between two integers because she knows temperature is not ________ data, but temperature is _________ data. - correct answer Discrete, Continuous The first stage of Davenport and Kim's Three Stage Model of quantitative decision making is to... - correct answer ...frame the problem. A manager is looking at his previous qua...

Analytics is a broad term that refers to a variety of tools that inform managerial decisions. - correct answer Prescriptive What are two reasons for the increasing use of analytics in organizational decision making? - correct answer Relatively lower cost of computer storage Higher computer processing power In what way does probability theory inform decision-making for managers? - correct answer By quantifying risk Which type of data are the Olympic medals of gold, silver, and bronze ex...

Descriptive and Inferential - correct answer There are two types of statistics (Analytics) Inform / Explanatory - correct answer Descriptive statistics are used to ______ Predict / Trend - correct answer Inferential statistics are used to ______ (NOIR) Nominal, Ordinal, Interval Ratio - correct answer Name the 4 levels of measurement Ratio - correct answer Continuous data with unique zero point Interval - correct answer Orders data at equal distance apart

WGU C207 PA test with answers Analytics is a broad term that refers to a variety of tools that inform managerial decisions.Which term can be used to describe managerial decisions? - correct answer Prescriptive What are two reasons for the increasing use of analytics in organizational decision-making? - correct answer Relatively lower cost of computer storage; Higher computer processing power How does probability theory inform decision-making for managers? - correct answer By quantifying...