WGU C207 Data Driven Decision Making Final ACTUAL EXAM BANK
WITH 100% RATED CORRECT REAL EXAM QUESTIONS AND
ANSWERS GRADED A+ |2025 LATEST VERSION | 100% VERIFIED
How would a greater number of samples and a fewer number of populations affect an ANOVA
analysis? - (answer)The results would be more accurate.
Mary is determining the likelihood that she will lose money on an investment. There is an
expected 10 percent gain in a normally distributed dataset, with a standard deviation of 10
percent. The likelihood she'll lose money is _______ percent. - (answer)16
Select the choice that is true. Regression analysis: - (answer)takes information from one data set
and can predict information for another data set.
Jane works for a public health company. She is working on an anti-tobacco campaign and is
interested in how smoking cigarettes affects a smoker's cholesterol. She could use the number of
cigarettes smoked per day as her _____ variable and place it on the __-axis. -
(answer)independent, x
We perform a regression analysis on a pair of variables and determine that there is a linear
relationship. The regression line is determined to be y=12x−5y=12x-5. What type of linear
relationship exists between the independent variable, x, and the dependent variable, y? -
(answer)positive
describe R-squared? - (answer)a) R-squared measures the goodness of fit.
b) R-squared can be misleading if there are false independent variables.
c) R-squared is 1.0 when correlation is -1 or 1.
Which of the following are technique a manager uses when forecasting? - (answer)A)Time
Series
,c) Associative
d) Judgmental
Which of the following are advantages of cluster analysis? - (answer)b) It sorts individual data
points into different groups.
c) It will not help in determining target markets.
d) It does not identify successful and unsuccessful habits and systems.
A trend is... - (answer)a general slope upward or downward over a long period of time.
If there is a relationship between variables, but the relationship is not linear, what possible
challenge with regression could it be? - (answer)Polynomial Regression
Catherine is trying to sell a ticket to the Super Bowl. She is determining whether or not she
should sell a ticket now or wait until just before the game and try and sell it then. Currently,
someone is offering $350 for the ticket. From research of past prices, she knows that the tickets
immediately before the Super Bowl are sold for about $500. She determines that there is a 75
percent chance she will be able to sell the ticket immediately before the Super Bowl. Based on
expected payoffs from risk decision making, what should she do? How much is the difference if
she chooses to sell now - (answer)Catherine should wait to sell ticket; the difference will be $25.
Heteroscedasticity - (answer)A regression in which the variances in y for the values of x are not
equal
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
Dependent Variable - (answer)The variable whose value depends on one or more variables in the
equation; typically the cost or activity to be predicted
,Independent Variable - (answer)The variable presumed to influence another variable (dependent
variable); typically it is the level of activity or cost driver
Analysis of Variance (ANOVA) - (answer)A statistical method that helps identify the sources of
variability by comparing their means or averages; it compares the variation within a sample to
the variation between samples to see if any differences are the result of some contributing factor
or if the differences occur by chance alon
Experience Curve - (answer)A curve that shows the decline in cost per unit in various business
functions of the value chain as the amount of these activities increases
Crossover Analysis - (answer)Allows a decision maker to identify the crossover point, which
represents the point at which we are indifferent between the plans
Cyclicality - (answer)Repetition of up (peaks) or down movements (troughs) that follow or
counteract a business cycle that can last several years
Linear Programming - (answer)A mathematical tool used to optimize a function (the objective
function) subject to various constraints, all of which are linear. Often used to find the
combination of products that will maximize profits or minimize costs
Simple Linear Regression - (answer)A form of regression analysis with only one independent
variable
Regression Line - (answer)the "line of best fit" where the margin of error at every point is
minimized
Data Management - (answer)The management, including cleaning and storage, of collected data
Random Variation - (answer)The variability of a process which might be caused by irregular
fluctuations due to chance that cannot be anticipated, detected, or eliminated
, Seasonality - (answer)Regular pattern of volatility, usually within a single year
Homoscedasticity - (answer)A regression in which the variances in y for the values of x are equal
or close to equal
Irregularity - (answer)One-time deviations from expectations caused by unforeseen
circumstances such as war, natural disasters, poor weather, labor strikes, single-occurrence
company-specific surprises or macroeconomic shocks
Chi-squared Test - (answer)A hypothesis test that is used to examine the distribution of
categorical data
Expected Value - (answer)The Expected Value for an alternative is the sum of all possible
payoffs for that alternative, each weighted by the probability of that payoff occurring
Multiple Linear Regression - (answer)A statistical method used to model the relationship
between one dependent (or response) variable and two or more independent (or explanatory)
variables by fitting a linear equation to observed data
Regression Analysis - (answer)A statistical analysis tool that quantifies the relationship between
a dependent variable and one or more independent variables
Decision Tree - (answer)A diagram of possible alternatives and their expected consequences used
to formulate possible courses of actions in order to make decisions
Time Series Analysis - (answer)Regression analysis that uses time as the independent variable
Expected Value - (answer)The Expected Value for an alternative is the sum of all possible
payoffs for that alternative, each weighted by the probability of that payoff occurring.
WITH 100% RATED CORRECT REAL EXAM QUESTIONS AND
ANSWERS GRADED A+ |2025 LATEST VERSION | 100% VERIFIED
How would a greater number of samples and a fewer number of populations affect an ANOVA
analysis? - (answer)The results would be more accurate.
Mary is determining the likelihood that she will lose money on an investment. There is an
expected 10 percent gain in a normally distributed dataset, with a standard deviation of 10
percent. The likelihood she'll lose money is _______ percent. - (answer)16
Select the choice that is true. Regression analysis: - (answer)takes information from one data set
and can predict information for another data set.
Jane works for a public health company. She is working on an anti-tobacco campaign and is
interested in how smoking cigarettes affects a smoker's cholesterol. She could use the number of
cigarettes smoked per day as her _____ variable and place it on the __-axis. -
(answer)independent, x
We perform a regression analysis on a pair of variables and determine that there is a linear
relationship. The regression line is determined to be y=12x−5y=12x-5. What type of linear
relationship exists between the independent variable, x, and the dependent variable, y? -
(answer)positive
describe R-squared? - (answer)a) R-squared measures the goodness of fit.
b) R-squared can be misleading if there are false independent variables.
c) R-squared is 1.0 when correlation is -1 or 1.
Which of the following are technique a manager uses when forecasting? - (answer)A)Time
Series
,c) Associative
d) Judgmental
Which of the following are advantages of cluster analysis? - (answer)b) It sorts individual data
points into different groups.
c) It will not help in determining target markets.
d) It does not identify successful and unsuccessful habits and systems.
A trend is... - (answer)a general slope upward or downward over a long period of time.
If there is a relationship between variables, but the relationship is not linear, what possible
challenge with regression could it be? - (answer)Polynomial Regression
Catherine is trying to sell a ticket to the Super Bowl. She is determining whether or not she
should sell a ticket now or wait until just before the game and try and sell it then. Currently,
someone is offering $350 for the ticket. From research of past prices, she knows that the tickets
immediately before the Super Bowl are sold for about $500. She determines that there is a 75
percent chance she will be able to sell the ticket immediately before the Super Bowl. Based on
expected payoffs from risk decision making, what should she do? How much is the difference if
she chooses to sell now - (answer)Catherine should wait to sell ticket; the difference will be $25.
Heteroscedasticity - (answer)A regression in which the variances in y for the values of x are not
equal
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
Dependent Variable - (answer)The variable whose value depends on one or more variables in the
equation; typically the cost or activity to be predicted
,Independent Variable - (answer)The variable presumed to influence another variable (dependent
variable); typically it is the level of activity or cost driver
Analysis of Variance (ANOVA) - (answer)A statistical method that helps identify the sources of
variability by comparing their means or averages; it compares the variation within a sample to
the variation between samples to see if any differences are the result of some contributing factor
or if the differences occur by chance alon
Experience Curve - (answer)A curve that shows the decline in cost per unit in various business
functions of the value chain as the amount of these activities increases
Crossover Analysis - (answer)Allows a decision maker to identify the crossover point, which
represents the point at which we are indifferent between the plans
Cyclicality - (answer)Repetition of up (peaks) or down movements (troughs) that follow or
counteract a business cycle that can last several years
Linear Programming - (answer)A mathematical tool used to optimize a function (the objective
function) subject to various constraints, all of which are linear. Often used to find the
combination of products that will maximize profits or minimize costs
Simple Linear Regression - (answer)A form of regression analysis with only one independent
variable
Regression Line - (answer)the "line of best fit" where the margin of error at every point is
minimized
Data Management - (answer)The management, including cleaning and storage, of collected data
Random Variation - (answer)The variability of a process which might be caused by irregular
fluctuations due to chance that cannot be anticipated, detected, or eliminated
, Seasonality - (answer)Regular pattern of volatility, usually within a single year
Homoscedasticity - (answer)A regression in which the variances in y for the values of x are equal
or close to equal
Irregularity - (answer)One-time deviations from expectations caused by unforeseen
circumstances such as war, natural disasters, poor weather, labor strikes, single-occurrence
company-specific surprises or macroeconomic shocks
Chi-squared Test - (answer)A hypothesis test that is used to examine the distribution of
categorical data
Expected Value - (answer)The Expected Value for an alternative is the sum of all possible
payoffs for that alternative, each weighted by the probability of that payoff occurring
Multiple Linear Regression - (answer)A statistical method used to model the relationship
between one dependent (or response) variable and two or more independent (or explanatory)
variables by fitting a linear equation to observed data
Regression Analysis - (answer)A statistical analysis tool that quantifies the relationship between
a dependent variable and one or more independent variables
Decision Tree - (answer)A diagram of possible alternatives and their expected consequences used
to formulate possible courses of actions in order to make decisions
Time Series Analysis - (answer)Regression analysis that uses time as the independent variable
Expected Value - (answer)The Expected Value for an alternative is the sum of all possible
payoffs for that alternative, each weighted by the probability of that payoff occurring.
