C207 WGU Complete Questions and Answers(GRADED A)

C207 WGU Complete Questions and Answers(GRADED A) What is the key focus on analysis? - ANSWER To predict trends using quantitative data. What are the four levels of measurement? - ANSWER 1. Nominal 2. Ordinal 3. Interval 4. Ratio Nominal data - ANSWER is categorical. It has no numerical value. It's not a number. Examples: -the types of pizza you sell -meatball -veggie -cheese (these are labels, they can't be added or subtracted) Ordinal data - ANSWER is ranked, but doesn't have a specific value. Example: -the size of pizza (small, medium, large) (we can't add or subtract these but we can put them in sequential order) - order (key word) - no numerical value Interval data - ANSWER data is numeric. You can add and subtract it. It has a sequential value. Each value is equally spaced from the previous value. Example: - drink sizes are interval (16 oz, 20 oz, 24 oz) they are equally spaced about (4 oz spaced) Ratio data - ANSWER is numeric. Your sales per day are ratio data. Example" - 10 sales of $12.99 a piece = $129.99 (the value has a true value from zero) To challenge the validity and reliability of data, ask two things. - ANSWER Are there any outliers and are there any errors? Outliers - ANSWER Don't throw them out. Do them in both ways. Example: last week, you were closed for two days for renovations. Sales were a zero for those two days. That's an outlier. You include the outliers to know how its effecting your bottom line. 2 categories of errors - ANSWER 1. Random 2. Systematic Random error - ANSWER is something that happens just once and will not repeat over time. Example: if you are trying to find average delivery times and one delivery was effected by a four hour Chicago traffic delay, that's random. Systematic error - ANSWER is when your deliveries (example) are slow and it is not by chance. Example: A delivery driver has nursed the fuel injector on his car for the past six months. It breaks down one out of every 20 deliveries he makes. This is Systematic error. It repeats itself. Omission error - ANSWER An error because something is missing. Example: A delivery driver didn't clock in or out for his delivery. That data will not be included in study and it's relevant. -A data set with an omission error is defined as distorted. out of range error - ANSWER What is used to reduce errors? - ANSWER a number of quality control tools. Example: a survey customers take only allows them to select responses from a list. That way, they can't type anything in wrong. Treatment - ANSWER Example: You want to make a crispier pizza and to do this, you apply three different sets of oil to three different pizza to measure the crispiness of the crust. Blind study - ANSWER when the subjects don't know if they are receiving the treatment or a placebo (a harmless procedure prescribed for the psychological benefit of the recipient) Double blind study - ANSWER An experiment in which neither the participant nor the researcher knows whether the participant has received the treatment or the placebo (a harmless procedure prescribed for the psychological benefit of the recipient) Descriptive - ANSWER For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... - ANSWER analytics