WGU C207 Data Driven Decision Making (Verified answers 2023)

WGU C207 Data Driven Decision Making (Verified answers 2023) Multiplication Rule - correct answer A method for finding the probability that both of two events occur. When the probabilities of multiple events are multiplied together to determine the likelihood of all of the events happening. Word Hint: And Addition Rule - correct answer A method for finding the probability that either or both of two events occur. When two events, A and B, are mutually exclusive, the probability that A or B will occur is the sum of the probability of each event. Word Hint: Either/or. Combination Rule - correct answer How many combinations can be made. Bayes Theorem - correct answer Probability of an event , based on conditions that might be related to the event. Conditional probability. A formula that calculates conditional probabilities. Important for understanding how new information affects the probabilities of outcomes. Word Hint: Given that. Median - correct answer Number halfway into the data set. Hint Word: Typical Mode - correct answer Number that occurs most often in a data set. Mean - correct answer Average. Add all numbers and divide. Standard Deviation - correct answer How spread out the numbers are. Square root of the variance. Pareto Chart - correct answer Contains both line and bar graphs. Ordered by frequency of occurrence that shows how many results were generated by each identified cause. Cause and Effect Diagram - correct answer Shows the causes of a specific event. Check Sheet - correct answer Collect data in real time. Control Chart - correct answer Determines whether a process should undergo a formal exam for quality. Histogram - correct answer Graph representing the distribution of numeric data. Measures how continuous data is distributed over various ranges. Example: Displays how many people fall in various ranges of height. Scatter Diagram - correct answer A graphic that uses dots to show relationships or correlations between variables Flow/Run Chart - correct answer Shows the workflow process Bar Chart - correct answer Graph of schedule-related info. Example: Measures how many people are from each state. Box - Plot - correct answer Used while studying the composition of a data set to examine the distribution (non - parametric data) uses median and percentiles rather than averages. (Look for Spread and Median.) Dependent Variable - correct answer Dependent upon the Independent variable Independent Variable - correct answer Variable the drives the dependent variable Range - correct answer Difference between the lowest and highest number in a data set. Example: 4,6,9,3,7 Range = 9-3 =6 T-Statistic - correct answer Statistic (derived from a sample) used in hypothesis testing. Determines if 2 sample means are significantly different from each other. Central Limit Theorem - correct answer Distribution of average of a large number of independent, identical, variables will be approximately normal. OR the idea that if a large enough number of samples is taken, the means of those samples will be normally distributed around the population mean.