WGU C207 DATA DRIVEN DECISION MAKING
FINAL COMPLETE STUDY GUIDE WITH SOLVED
QUESTIONS
◉ 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
◉ 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.
FINAL COMPLETE STUDY GUIDE WITH SOLVED
QUESTIONS
◉ 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
◉ 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.
