WGU - MBA - C207 - Data Driven Decision Making| 240 questions| with complete solutions

Activities (RBM stage) CORRECT ANSWERS: second step involves the process that converts inputs to outputs (actions necessary to produces results - training, evaluating, developing) Alternative hypothesis CORRECT ANSWERS: The argument that either a sample is not equal to, greater than, or less than the hypothesized null sample Analysis of Variance (ANOVA) CORRECT ANSWERS: 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 CORRECT ANSWERS: The discovery, analysis, and communication of meaningful patterns in data. Autocorrelation CORRECT ANSWERS: A relationship between two variables that is inherently non-linear Balanced Scorecard CORRECT ANSWERS: 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 CORRECT ANSWERS: A graph that measures the distribution of data over discrete groups or categories. Benchmarks CORRECT ANSWERS: Standards or points of reference for an industry or sector that can be used for comparison and evaluation. Big Data CORRECT ANSWERS: 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 CORRECT ANSWERS: A study performed where the participants are not told if they are in the treatment group or control group body mass index (BMI) CORRECT ANSWERS: A measure, based on a person's weight and height, that is used to classify people as underweight or overweight. Business process CORRECT ANSWERS: A sequence of logically related and time based work activities to provide a specific output for a customer.