WGU C207 DATA-DRIVEN DECISION MAKING FINAL
EXAM 2024/Questions and Answers WITH CORRECT
DETAILED ANSWERS/A+ GRADE
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
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.
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
Criterion-reference test - ANSWER-compare an individual to certain defined standards
Critical Success Factors - ANSWER-The important things an entity must do to be
successful, such as quality measures, customer service, or efficiency.
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
EXAM 2024/Questions and Answers WITH CORRECT
DETAILED ANSWERS/A+ GRADE
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
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.
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
Criterion-reference test - ANSWER-compare an individual to certain defined standards
Critical Success Factors - ANSWER-The important things an entity must do to be
successful, such as quality measures, customer service, or efficiency.
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
