WGU C207 Data Driven Decision Making| OA|
Objective Assessment- Solved
Activities (RBM stage) - ANS-second step involves the process that converts inputs
to outputs (actions necessary to produces results - training, evaluating, developing)
Alternative hypothesis - ANS-The argument that either a sample is not equal to,
greater than, or less than the hypothesized null sample
Analysis of Variance (ANOVA) - ANS-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
Analytics - ANS-The discovery, analysis, and communication of meaningful patterns
in data.
Autocorrelation - ANS-A relationship between two variables that is inherently non-
linear
Balanced Scorecard - ANS-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 - ANS-A graph that measures the distribution of data over discrete groups
or categories.
Benchmarks - ANS-Standards or points of reference for an industry or sector that
can be used for comparison and evaluation.
Big Data - ANS-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 - ANS-A study performed where the participants are not told if they are
in the treatment group or control group
body mass index (BMI) - ANS-A measure, based on a person's weight and height,
that is used to classify people as underweight or overweight.
Business process - ANS-A sequence of logically related and time based work
activities to provide a specific output for a customer.
Central Limit Theorem - ANS-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 - ANS-The process of arranging terms or values based on different
variables into "natural" groups
Cointegration - ANS-Occurs when two time series are moving with a common
pattern due to a connection between the two time series
Combination - ANS-The number of different unordered possibilities for a certain
situation.
Complement - ANS-The occurrence of an event not happening, the opposite
Confidence interval - ANS-An interval estimate used to indicate reliability
Continuous Data - ANS-Data that can lay along any point in a range of data
Control chart - ANS-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.
Control limits - ANS-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
Criterion-reference test - ANS-compare an individual to certain defined standards
Critical Success Factors - ANS-The important things an entity must do to be
successful, such as quality measures, customer service, or efficiency.
Cumulative Average-Time Learning Model - ANS-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 - ANS-The probability that a random variable will be found
at a value less than or equal to a given number
Customer satisfaction - ANS-A measure of the extent to which customers are
satisfied with the products and related services they received from a supplier.
Cycle time - ANS-The total elapsed time to move a unit of work from the beginning
to the end of a physical process, as defined by the producer and the customer.
Cyclicality - ANS-Repetition of up (peaks) or down movements (troughs) that follow
or counteract a business cycle that can last several years
Data Management - ANS-The management, including cleaning and storage, of
collected data.
Objective Assessment- Solved
Activities (RBM stage) - ANS-second step involves the process that converts inputs
to outputs (actions necessary to produces results - training, evaluating, developing)
Alternative hypothesis - ANS-The argument that either a sample is not equal to,
greater than, or less than the hypothesized null sample
Analysis of Variance (ANOVA) - ANS-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
Analytics - ANS-The discovery, analysis, and communication of meaningful patterns
in data.
Autocorrelation - ANS-A relationship between two variables that is inherently non-
linear
Balanced Scorecard - ANS-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 - ANS-A graph that measures the distribution of data over discrete groups
or categories.
Benchmarks - ANS-Standards or points of reference for an industry or sector that
can be used for comparison and evaluation.
Big Data - ANS-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 - ANS-A study performed where the participants are not told if they are
in the treatment group or control group
body mass index (BMI) - ANS-A measure, based on a person's weight and height,
that is used to classify people as underweight or overweight.
Business process - ANS-A sequence of logically related and time based work
activities to provide a specific output for a customer.
Central Limit Theorem - ANS-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 - ANS-The process of arranging terms or values based on different
variables into "natural" groups
Cointegration - ANS-Occurs when two time series are moving with a common
pattern due to a connection between the two time series
Combination - ANS-The number of different unordered possibilities for a certain
situation.
Complement - ANS-The occurrence of an event not happening, the opposite
Confidence interval - ANS-An interval estimate used to indicate reliability
Continuous Data - ANS-Data that can lay along any point in a range of data
Control chart - ANS-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.
Control limits - ANS-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
Criterion-reference test - ANS-compare an individual to certain defined standards
Critical Success Factors - ANS-The important things an entity must do to be
successful, such as quality measures, customer service, or efficiency.
Cumulative Average-Time Learning Model - ANS-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 - ANS-The probability that a random variable will be found
at a value less than or equal to a given number
Customer satisfaction - ANS-A measure of the extent to which customers are
satisfied with the products and related services they received from a supplier.
Cycle time - ANS-The total elapsed time to move a unit of work from the beginning
to the end of a physical process, as defined by the producer and the customer.
Cyclicality - ANS-Repetition of up (peaks) or down movements (troughs) that follow
or counteract a business cycle that can last several years
Data Management - ANS-The management, including cleaning and storage, of
collected data.
