WGU C207 Study Questions and Answers |New Questions 2024 with 100% Correct Answers | Verified | Latest Update | 100% Pass | Already Graded A+

WGU C207 Study Questions and Answers |New Questions 2024 with 100% Correct Answers | Verified | Latest Update | 100% Pass | Already Graded A+ What is the key focus on analysis? To predict trends using quantitative data. What are the four levels of measurement? 1. Nominal 2. Ordinal 3. Interval 4. Ratio Nominal data 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 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 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 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. Are there any outliers and are there any errors? Outliers 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 1. Random 2. Systematic