WGU C207 DATA DRIVEN DECISION MAKING
TEST BANK 2026 EXAM REVIEW WITH SOLVED
QUESTIONS GRADED A+
◉ Alternative hypothesis. Answer: The argument that either a sample is
not equal to, greater than, or less than the hypothesized null sample
◉ Analysis of Variance (ANOVA). Answer: a technique used to
determine if there is a sufficient evidence from sample data of three or
more populations to conclude that the means of the population are not all
equal. 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 alone.
◉ Analytics. Answer: The discovery, analysis, and communication of
meaningful patterns in data.
◉ Autocorrelation. Answer: A relationship between two variables that is
inherently non-linear
,◉ Balanced Scorecard. Answer: An approach using multiple measures to
evaluate performance, including financial measures, and the non-
financial measures of customers, internal business processes, and
learning and growth.
◉ Bar chart. Answer: A graph that measures the distribution of data over
discrete groups or categories.
◉ Benchmarks. Answer: Standards or points of reference for an industry
or sector that can be used for comparison and evaluation.
◉ Big Data. Answer: very large amounts of data; an all-encompassing
term for any collection of data sets so large and complex that it becomes
difficult to process them using traditional data processing applications
◉ Blind Study. Answer: A study performed where the participants are
not told if they are in the treatment group or control group
◉ body mass index (BMI). Answer: A measure, based on a person's
weight and height, that is used to classify people as underweight or
overweight.
◉ Business process. Answer: A sequence of logically related and time
based work activities to provide a specific output for a customer.
,◉ Central Limit Theorem. Answer: A theorem that states that, the
greater the sample, the closer the mean of the sample is to the entire
population and the more the results will look like a normal distribution
◉ Cluster Analysis. Answer: The process of arranging terms or values
based on different variables into "natural" groups
◉ Cointegration. Answer: Occurs when two time series are moving with
a common pattern due to a connection between the two time series
◉ Combination. Answer: The number of different unordered
possibilities for a certain situation.
◉ Complement. Answer: The occurrence of an event not happening, the
opposite
◉ Confidence interval. Answer: An interval estimate used to indicate
reliability
◉ Continuous Data. Answer: Data that can lay along any point in a
range of data
◉ Control chart. Answer: A graphic display of process data over time
and against established control limits, and that has a centerline that
assists in detecting a trend of plotted values toward either control limit.
, A modified run chart that also provides upper and/or lower limits that a
process should not exceed.
◉ Control limits. Answer: The area composed of three standard
deviations on either side of the centerline, or mean, of a normal
distribution of data plotted on a control chart that reflects the expected
variation in the data. See also specification limits.
◉ Criterion-reference test. Answer: compare an individual to certain
defined standards
◉ 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
◉ Cumulative distributions. Answer: The probability that a random
variable will be found at a value less than or equal to a given number
◉ Customer satisfaction. Answer: A measure of the extent to which
customers are satisfied with the products and related services they
received from a supplier.
TEST BANK 2026 EXAM REVIEW WITH SOLVED
QUESTIONS GRADED A+
◉ Alternative hypothesis. Answer: The argument that either a sample is
not equal to, greater than, or less than the hypothesized null sample
◉ Analysis of Variance (ANOVA). Answer: a technique used to
determine if there is a sufficient evidence from sample data of three or
more populations to conclude that the means of the population are not all
equal. 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 alone.
◉ Analytics. Answer: The discovery, analysis, and communication of
meaningful patterns in data.
◉ Autocorrelation. Answer: A relationship between two variables that is
inherently non-linear
,◉ Balanced Scorecard. Answer: An approach using multiple measures to
evaluate performance, including financial measures, and the non-
financial measures of customers, internal business processes, and
learning and growth.
◉ Bar chart. Answer: A graph that measures the distribution of data over
discrete groups or categories.
◉ Benchmarks. Answer: Standards or points of reference for an industry
or sector that can be used for comparison and evaluation.
◉ Big Data. Answer: very large amounts of data; an all-encompassing
term for any collection of data sets so large and complex that it becomes
difficult to process them using traditional data processing applications
◉ Blind Study. Answer: A study performed where the participants are
not told if they are in the treatment group or control group
◉ body mass index (BMI). Answer: A measure, based on a person's
weight and height, that is used to classify people as underweight or
overweight.
◉ Business process. Answer: A sequence of logically related and time
based work activities to provide a specific output for a customer.
,◉ Central Limit Theorem. Answer: A theorem that states that, the
greater the sample, the closer the mean of the sample is to the entire
population and the more the results will look like a normal distribution
◉ Cluster Analysis. Answer: The process of arranging terms or values
based on different variables into "natural" groups
◉ Cointegration. Answer: Occurs when two time series are moving with
a common pattern due to a connection between the two time series
◉ Combination. Answer: The number of different unordered
possibilities for a certain situation.
◉ Complement. Answer: The occurrence of an event not happening, the
opposite
◉ Confidence interval. Answer: An interval estimate used to indicate
reliability
◉ Continuous Data. Answer: Data that can lay along any point in a
range of data
◉ Control chart. Answer: A graphic display of process data over time
and against established control limits, and that has a centerline that
assists in detecting a trend of plotted values toward either control limit.
, A modified run chart that also provides upper and/or lower limits that a
process should not exceed.
◉ Control limits. Answer: The area composed of three standard
deviations on either side of the centerline, or mean, of a normal
distribution of data plotted on a control chart that reflects the expected
variation in the data. See also specification limits.
◉ Criterion-reference test. Answer: compare an individual to certain
defined standards
◉ 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
◉ Cumulative distributions. Answer: The probability that a random
variable will be found at a value less than or equal to a given number
◉ Customer satisfaction. Answer: A measure of the extent to which
customers are satisfied with the products and related services they
received from a supplier.
