WGU C207 Data Driven Decision Making questions with correct answers

Z-Score - answer Data points only. Measurement of a scores relationship to the mean. A statistical measure that indicates the number of standard deviations a data point is from its mean. Variance - answer How far a set of numbers are spread. Used for Data set. Hint Words = Risk, spread. Multiplication Rule - answer A method for finding the probability that both of two events occur. When the probabilities of multiple events are multiplied together to determine the likelihood of all of the events happening. Word Hint: And Addition Rule - answer A method for finding the probability that either or both of two events occur. When two events, A and B, are mutually exclusive, the probability that A or B will occur is the sum of the probability of each event. Word Hint: Either/or. Combination Rule - answer How many combinations can be made. Bayes Theorem - answer Probability of an event , based on conditions that might be related to the event. Conditional probability. A formula that calculates conditional probabilities. Important for understanding how new information affects the probabilities of outcomes. Word Hint: Given that.