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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.
,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
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, 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. A modified
run chart that also provides upper and/or lower limits that a process should
not exceed.
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. See also specification limits.