WGU C207 - Flashcards - Modules 1 – 6 Exam Questions and Verified Answers

Frame the Problem, Solving the Problem and Communicating Results are part of which decision-making model? - Davenport-Kim three-stage model In which stage of the Davenport-Kim model is problem recognition? - Framing the problem In which stage of the Davenport-Kim model is data collection? - Solving the problem What is a key reason we study statistics? - To make informed decisions Visually presenting the data assists in which stage of the Davenport-Kim model? - Communicating the results When does research fail to produce reliable results? - Poor research validity What are the two major issues surrounding research standards? - Best practices and ethics In order to be a statistically valid sample, the sample must be: - The appropriate size and random Not selecting a random sample is what type of bias? - Measurement Not selecting a right sized sample is what type of bias? - Measurement Research best practices eliminate... - Bias Outliers create this type of error - Out-of Range Unpredictable error - Random Error - No correlation Error may occur from missing data. (Example: Space not filled in) - Omission Error - Distorted results This error repeats itself - Systematic Error - Skewed results Observation points that are distant from other observations. - Outliers Note: Can be included or excluded in analysis (causes skewness) Types of Bias: Bias that occurs from not selecting a random sample - Measurement bias Types of Bias: Bias introduced because respondents believe it will be beneficial if selected. - Conscious bias (key word: benefit) Consistent and repeatable data - Reliable Resulting from accurate measurements - Valid data If a responder lies on their survey, this creates what type of bias? - Information Sorting your spreadsheet can expose these errors by moving them to the very top or the very bottom of the column - Omission or Out-of-Range An error that will fix itself over time - Random An error that will not fix itself. You must do something - Systematic Cleaning and organizing data - Data Management Are the following variable quantitative or qualitative? Personality type, social class, or communication style - Qualitative A study used when you a conditions can't be controlled - Observational study Observes people going forward in time from the time of their entry into the study. - Cohort Study What are the three elements of an experimental study? - Unit, Treatment, Response Accurately measures what it is intended to measure - Valid data ________ an experimental study prevents bias. - Blinding Neither the treatment allocator nor the participant knows in which group the participant is contributing. (Who is getting the real drug?) - Double blind study The participants are not told if they are in the treatment group or control group - Blind study Describes characteristics of a dataset. Mean, median, mode, variation, standard deviation, range.... - Descriptive analytics Uses data from t he past to predict the future - Predictive Uses experimental design and optimization to predict a future - Prescriptive If we move to six appointments an hour we can increase revenue 2%. Which form of analytics is this? - Prescriptive - We are taking a specific course of action Based on the last four quarters, we can predict $4,1 million in sales next quarter. Which form of analytics is this? - Predictive: We aren't taking any action The number of appointments per day averaged 7 over the last 6 months. Which form of analytics is this? - Descriptive: We are only describing the past. No future predictions are made. Is Big Data structured, unstructured or both? - Both Where do we store big data - In a big data warehouse Why do marketing teams use big data? - "Datamining" assists in targeting the best customers for new products or reaching existing customers for like products Name the 4 levels of measurement - (NOIR) Nominal, Ordinal, Interval Ratio Continuous data with unique zero point is _______ level of measurement. - Ratio Orders data at equal distance apart is _______ level of measurement. - Interval Identify, Group, or Categorize is _______ level of measurement. - Nominal The colors of cars is which level of measurement? - Nominal The price of the car is which level of measurement? - Ratio Which level of measurement can be multiplied and divided? - Ratio Which level of measurement cannot be analyzed which most statistical test? - Nominal Correlation is not _________ - Causation A good sample of the population being studied will be the right size and ___________ - Random If a sample is not random it creates ____________ - Measurement Bias If a sample is not the right size it creates ___________ - Measurement Bias Measuring the housing market in North Carolina when making an inference about the entire East coast is an example of __________ - Non-representative Sample Lemonade sales increase when it is warmer than 75 degrees. Weather and lemonade are __________ - Correlated. "NOT CAUSE" Pulling names from a hat is a tool to create a ______ sample - Random Asking participants to taste test a yellow candy and a blue candy and select one can create bias. How can we prevent bias? - Blinding You are taking a survey and the question is leading. It seams advantageous to answer a specific way. What type of bias is this? - Conscious KEYWORD: Benefit A question is not leading, but you feel your boss might want you to answer a specific way - Response You feel there is an "expected" response and may not answer honestly (no leading ) pread of the data - Standard Deviation A normally distributed sample spreads from -3 to +3 standard deviations from the mean We should not use this measure of central tendency alone for decisions because it includes outliers - Mean