WGU - MBA - C207 - Data Driven Decision Making questions with correct answers

Activities (RBM stage) - answer second step involves the process that converts inputs to outputs (actions necessary to produces results - training, evaluating, developing) 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.