WGU C207 Data-Driven Decision-Making Exam (NEW 2023/ 2024 Update) Questions and Verified Answers- 100% Correct

WGU C207 Data-Driven Decision-Making Exam (NEW 2023/ 2024 Update) Questions and Verified Answers- 100% Correct QUESTION a comparison of the same quantity of goods with the same weight over a period of time Answer: Laspeyres Index QUESTION A graph that illustrates relationships between two changing variables with a line or curve that connects a series of successive data points Answer: Line graph QUESTION The minimum value on a control chart that a process should not exceed Answer: Lower limit control QUESTION An average, calculated by adding a series of elements in a data set together and dividing by the total number in the series Answer: Mean QUESTION A prejudice in the data that results when the sample is not representative of the population being tested Answer: Measurement Bias QUESTION The value or quantity lying at the midpoint of a frequency distribution Answer: Median QUESTION A multiple regression equation is flawed because two variables thought to be independent are actually correlated to be independent Answer: Multicollinearity QUESTION 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 Answer: Multiple Linear Regression QUESTION When the probabilities of multiple events are multiplied together to determine the likelihood of all of those events occurring Answer: Multiplication Principle QUESTION When two or more events are not able to occur at the same time Answer: Mutually exclusive events QUESTION A management tool designed to collect data indicating the relative loyalty of customers and their willingness to recommend a company's