WGU C207 OA Data-Driven Decision Making 2018

WGU C207 OA Data-Driven Decision Making 2018 UPDATED Exam Questions and Answers (2022/2023) (Verified Answers) Prescriptive - Answer 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 Relatively lower cost of computer storage Higher computer processing power - Answer What are two reasons for the increasing use of analytics in organizational decision making? Choose 2 answers By quantifying risk - Answer In what way does probability theory inform decision-making for managers? Ordinal data - Answer Which type of data are the Olympic medals of gold, silver, and bronze examples of? It reduces the amount of incomplete data. It cleans data. - Answer What are some of the aspects of data quality management? Choose 2 answers Missing data Misspelled data - Answer Which two attributes indicate potential data quality issues when evaluating a set of nominal data? Choose 2 answers Systematic error - Answer When conducting a study that measures an individual's weight, all scales are calibrated prior to use in measurement. WGU C207 OA Data-Driven Decision Making 2018 UPDATED Exam Questions and Answers (2022/2023) (Verified Answers) Which type of error should this procedure significantly reduce? The response variable - Answer An advertising manager creates a research study by presenting low, medium, or high frequency of the same ad in matched markets. The manager then reports on sales in each market location. What is the term for the different sales in this study? Cohort study - Answer A healthcare study follows a particular sample over time to identify how the health habits of teenagers impact their likelihood of acquiring various diseases later in their life in the hope that the healthcare organization will be able to create early prevention programs. Which type of research design does this study describe? Systematic error Omission error - Answer Several missing values in a particular field in a dataset were observed. The likelihood of a record having a missing value is correlated to another variable in the dataset. Which two types of error might be introduced into the dataset if the removed record included missing values? Choose 2 answers Number of purchases per e-mail Cost per e-mail - Answer A company is trying to increase its online sales revenue by improving its e-mail advertising campaign for repeat customers as well as new customers. Which two variables would be used in determining a campaign to maximize revenue gain? Choose 2 answers Compare outcomes of different drug testing results ANOVA Understand effective marketing to spend advertising dollars efficiently Correlation WGU C207 OA Data-Driven Decision Making 2018 UPDATED Exam Questions and Answers (2022/2023) (Verified Answers) Monitor production process Control charts - Answer Match each action with the appropriate statistical procedure. Answer options may be used more than once or not at all. (3) Confusion of association and causality - Answer A researcher concludes that bananas create healthy children because the researcher's notes indicate that children who eat a banana every day are healthy. Which misuse of statistics would this study be an example of if these children also eat a balanced diet and exercise daily? Does a causal relationship truly exist? - Answer In the month of December, there is a strong positive correlation between airline ticket sales and retail sales. Which question should the researcher consider before concluding that the correlation statistic implies that airline sales drive retail sales? Intersection Multiplication principle - Answer A medical care provider determines the probability that a patient needs treatment for a broken bone, the probability that a patient needs treatment for a concussion, and the probability that a patient needs treatment for both a broken bone and a concussion. Which two techniques apply in finding the probability that a patient needs treatment for a broken bone and a concussion? Choose 2 answers Bayes' Theorem - Answer A hardware store has found that there is a 0.25 probability that a customer buys an electrical product, a 0.45 probability that a customer buys a plumbing product, and a 0.10 probability that a customer buys an electrical part if they purchase a plumbing part. Given this information, which statistical rule can be used to determine the probability that a customer buys a plumbing product given that this customer has purchased an electrical product? 12 - Answer Given the following data set: