WGU C207 OA Module 3 Data Driven Decision Making Questions and Answers (2023 Verified Answers)

WGU C207 OA Module 3 Data Driven Decision Making Questions and Answers (2023 Verified Answers) Normal distribution United Motors indicates that gas mileage tests of one of their cars, the Starbird 300, under city driving conditions has a mean of 30 mph and a median of 29.9 mph. Which type of distribution would this testing represent? ANOVA North American Oil Company is attempting to develop a reasonably priced gasoline that will deliver improved gasoline mileage. As part of its development process, the company would like to compare the effects of three types of gasoline. Which analysis technique should the company use to compare the performances of each gasoline type? $8 Enterprise Industries produces Fresh, a brand of liquid laundry detergent. In order to study the relationship between price and demand for the large bottle of Fresh, the company develops the following relationship: Demand = 600 + 50X. What price is needed to produce a demand of 1000? Trend A large manufacturer wants to forecast demand for a piece of pollution-control equipment. A review of the past 12 months of sales indicates that sales are increasing. What time series pattern does the sales likely exhibit? Multiple Regression Analysis A car dealership wishes to forecast car sales based upon price discounts and television ads. What forecasting technique should the dealership use? 104,500 A city hospital wishes to evaluate the labor hours it needs based upon monthly occupied bed days and average length of patients' stay. The estimated regression is: y = 2000 + 75X1 + 65X2 What scenario would be predicted if X1 = 500 and X2 = 1000? Autocorrelation A company uses time series analysis to develop its product forecast. The forecaster uses simple linear regression but notices that the past data trend is aligned with advertising expenditures. What issue might exist with this regression analysis? R - square A business entrepreneur wishes to predict yearly revenue for potential Sub Restaurant sites. He performs a regression analysis based upon the area's population and business rating. What statistic indicates the strength of the relationship of population and rating to revenue? Cluster Analysis A researcher is evaluating voter turnout based upon age and location of voting precincts. Which analysis technique should she use? Decision Analysis An entrepreneur is thinking about starting an independent gasoline station and considering how large the station should be. The annual return will depend upon the size of station and a number of marketing factors related to the oil industry and demand for gasoline. What analysis technique should be used to evaluate station size given the uncertainty of oil industry and demand factors? Simulation After traveling down the Mississippi River, barges randomly arrive in New Orleans and are unloaded on a first-in, first-out basis. Any barges not unloaded on the day of arrival must wait until the following day incurring additional cost and negatively affecting customer service. The dock superintendent wants to use analytics to support a request for additional unloading crews. What analysis technique should he use? Seasonality Boston Hallmark store is preparing a budget for the next year and needs to forecast sales. The store notices variation in sales around holidays. What pattern describes the data to be forecasted? Process Approach Principle that lowers cost and shortens cycle times through the effective use of resources. People Involvement Principle that seeks the efforts of people at all levels of the organization to achieve quality objectives