WGU C207 Data Driven Decision Making E u u u u u u
xam Questions With 100% Correct Answer u u u u u
s 2024 u u
How would a greater number of samples and a fewer number of populations affect an ANO
u u u u u u u u u u u u u u u
VA analysis? - Correct Answer-The results would be more accurate.
u u u u u u u u u
Mary is determining the likelihood that she will lose money on an investment. There is an e
u u u u u u u u u u u u u u u u
xpected 10 percent gain in a normally distributed dataset, with a standard deviation of 10 p
u u u u u u u u u u u u u u u
ercent. The likelihood she'll lose money is _______ percent. - Correct Answer-16
u u u u u u u u u u u
Select the choice that is true. Regression analysis: - Correct Answer-
u u u u u u u u u u
takes information from one data set and can predict information for another data set.
u u u u u u u u u u u u u
Jane works for a public health company. She is working on an anti-
u u u u u u u u u u u u
tobacco campaign and is interested in how smoking cigarettes affects a smoker's choleste
u u u u u u u u u u u u
rol. She could use the number of cigarettes smoked per day as her _____ variable and plac
u u u u u u u u u u u u u u u u
e it on the __-axis. - Correct Answer-independent, x
u u u u u u u u
We perform a regression analysis on a pair of variables and determine that there is a linear
u u u u u u u u u u u u u u u u u
relationship. The regression line is determined to be y=12x−5y=12x- u u u u u u u u
5. What type of linear relationship exists between the independent variable, x, and the dep
u u u u u u u u u u u u u u
endent variable, y? - Correct Answer-positive
u u u u u
describe R-squared? - Correct Answer-a) R-squared measures the goodness of fit.
u u u u u u u u u u
b) R-squared can be misleading if there are false independent variables.
u u u u u u u u u u
c) R-squared is 1.0 when correlation is -1 or 1.
u u u u u u u u u
Which of the following are technique a manager uses when forecasting? - Correct Answer-
u u u u u u u u u u u u u
A)Time Series u
c) Associative
u
d) Judgmental
u
Which of the following are advantages of cluster analysis? - Correct Answer-
u u u u u u u u u u u
b) It sorts individual data points into different groups.
u u u u u u u u
c) It will not help in determining target markets.
u u u u u u u u
d) It does not identify successful and unsuccessful habits and systems.
u u u u u u u u u u
A trend is... - Correct Answer-
u u u u u
a general slope upward or downward over a long period of time.
u u u u u u u u u u u
If there is a relationship between variables, but the relationship is not linear, what possible
u u u u u u u u u u u u u u u
challenge with regression could it be? - Correct Answer-Polynomial Regression
u u u u u u u u u
,Catherine is trying to sell a ticket to the Super Bowl. She is determining whether or not she
u u u u u u u u u u u u u u u u u u
should sell a ticket now or wait until just before the game and try and sell it then. Currently, s
u u u u u u u u u u u u u u u u u u u
omeone is offering $350 for the ticket. From research of past prices, she knows that the tick
u u u u u u u u u u u u u u u u
ets immediately before the Super Bowl are sold for about $500. She determines that there i
u u u u u u u u u u u u u u u
s a 75 percent chance she will be able to sell the ticket immediately before the Super Bowl.
u u u u u u u u u u u u u u u u u u
Based on expected payoffs from risk decision making, what should she do? How much is t
u u u u u u u u u u u u u u u
he difference if she chooses to sell now - Correct Answer-
u u u u u u u u u u
Catherine should wait to sell ticket; the difference will be $25.
u u u u u u u u u u
Heteroscedasticity - Correct Answer- u u u
A regression in which the variances in y for the values of x are not equal
u u u u u u u u u u u u u u u
Cumulative Average-Time Learning Model - Correct Answer- u u u u u u
A learning curve model in which the cumulative average time per unit declines by a consta
u u u u u u u u u u u u u u u
nt percentage each time the cumulative quantity of units produced is doubled
u u u u u u u u u u u
Dependent Variable - Correct Answer- u u u u
The variable whose value depends on one or more variables in the equation; typically the c
u u u u u u u u u u u u u u u
ost or activity to be predicted
u u u u u
Independent Variable - Correct Answer- u u u u
The variable presumed to influence another variable (dependent variable); typically it is the
u u u u u u u u u u u u
ulevel of activity or cost driver
u u u u u
Analysis of Variance (ANOVA) - Correct Answer-
u u u u u u
A statistical method that helps identify the sources of variability by comparing their means
u u u u u u u u u u u u u u
or averages; it compares the variation within a sample to the variation between samples to
u u u u u u u u u u u u u u u
see if any differences are the result of some contributing factor or if the differences occur by
u u u u u u u u u u u u u u u u
chance alon
u u
Experience Curve - Correct Answer- u u u u
A curve that shows the decline in cost per unit in various business functions of the value ch
u u u u u u u u u u u u u u u u u
ain as the amount of these activities increases
u u u u u u u
Crossover Analysis - Correct Answer- u u u u
Allows a decision maker to identify the crossover point, which represents the point at which
u u u u u u u u u u u u u u
we are indifferent between the plans
u u u u u u
Cyclicality - Correct Answer- u u u
Repetition of up (peaks) or down movements (troughs) that follow or counteract a business
u u u u u u u u u u u u u
cycle that can last several years
u u u u u u
Linear Programming - Correct Answer-
u u u u
A mathematical tool used to optimize a function (the objective function) subject to various c
u u u u u u u u u u u u u u
, onstraints, all of which are linear. Often used to find the combination of products that will m
u u u u u u u u u u u u u u u u
aximize profits or minimize costs u u u u
Simple Linear Regression - Correct Answer-
u u u u u
A form of regression analysis with only one independent variable
u u u u u u u u u
Regression Line - Correct Answer- u u u u
the "line of best fit" where the margin of error at every point is minimized
u u u u u u u u u u u u u u
Data Management - Correct Answer-
u u u u
The management, including cleaning and storage, of collected data
u u u u u u u u
Random Variation - Correct Answer- u u u u
The variability of a process which might be caused by irregular fluctuations due to chance t
u u u u u u u u u u u u u u u
hat cannot be anticipated, detected, or eliminated
u u u u u u
Seasonality - Correct Answer-Regular pattern of volatility, usually within a single year
u u u u u u u u u u u
Homoscedasticity - Correct Answer- u u u
A regression in which the variances in y for the values of x are equal or close to equal
u u u u u u u u u u u u u u u u u u
Irregularity - Correct Answer-One- u u u
time deviations from expectations caused by unforeseen circumstances such as war, natu
u u u u u u u u u u u
ral disasters, poor weather, labor strikes, single-occurrence company-
u u u u u u u
specific surprises or macroeconomic shocks
u u u u
Chi-squared Test - Correct Answer- u u u u
A hypothesis test that is used to examine the distribution of categorical data
u u u u u u u u u u u u
Expected Value - Correct Answer- u u u u
The Expected Value for an alternative is the sum of all possible payoffs for that alternative,
u u u u u u u u u u u u u u u u
each weighted by the probability of that payoff occurring
u u u u u u u u
Multiple Linear Regression - Correct Answer-
u u u u u
A statistical method used to model the relationship between one dependent (or response)
u u u u u u u u u u u u u
variable and two or more independent (or explanatory) variables by fitting a linear equation
u u u u u u u u u u u u u
to observed data
u u u
Regression Analysis - Correct Answer- u u u u
A statistical analysis tool that quantifies the relationship between a dependent variable and
u u u u u u u u u u u u
one or more independent variables
u u u u u
Decision Tree - Correct Answer- u u u u
A diagram of possible alternatives and their expected consequences used to formulate po
u u u u u u u u u u u u
ssible courses of actions in order to make decisions
u u u u u u u u
xam Questions With 100% Correct Answer u u u u u
s 2024 u u
How would a greater number of samples and a fewer number of populations affect an ANO
u u u u u u u u u u u u u u u
VA analysis? - Correct Answer-The results would be more accurate.
u u u u u u u u u
Mary is determining the likelihood that she will lose money on an investment. There is an e
u u u u u u u u u u u u u u u u
xpected 10 percent gain in a normally distributed dataset, with a standard deviation of 10 p
u u u u u u u u u u u u u u u
ercent. The likelihood she'll lose money is _______ percent. - Correct Answer-16
u u u u u u u u u u u
Select the choice that is true. Regression analysis: - Correct Answer-
u u u u u u u u u u
takes information from one data set and can predict information for another data set.
u u u u u u u u u u u u u
Jane works for a public health company. She is working on an anti-
u u u u u u u u u u u u
tobacco campaign and is interested in how smoking cigarettes affects a smoker's choleste
u u u u u u u u u u u u
rol. She could use the number of cigarettes smoked per day as her _____ variable and plac
u u u u u u u u u u u u u u u u
e it on the __-axis. - Correct Answer-independent, x
u u u u u u u u
We perform a regression analysis on a pair of variables and determine that there is a linear
u u u u u u u u u u u u u u u u u
relationship. The regression line is determined to be y=12x−5y=12x- u u u u u u u u
5. What type of linear relationship exists between the independent variable, x, and the dep
u u u u u u u u u u u u u u
endent variable, y? - Correct Answer-positive
u u u u u
describe R-squared? - Correct Answer-a) R-squared measures the goodness of fit.
u u u u u u u u u u
b) R-squared can be misleading if there are false independent variables.
u u u u u u u u u u
c) R-squared is 1.0 when correlation is -1 or 1.
u u u u u u u u u
Which of the following are technique a manager uses when forecasting? - Correct Answer-
u u u u u u u u u u u u u
A)Time Series u
c) Associative
u
d) Judgmental
u
Which of the following are advantages of cluster analysis? - Correct Answer-
u u u u u u u u u u u
b) It sorts individual data points into different groups.
u u u u u u u u
c) It will not help in determining target markets.
u u u u u u u u
d) It does not identify successful and unsuccessful habits and systems.
u u u u u u u u u u
A trend is... - Correct Answer-
u u u u u
a general slope upward or downward over a long period of time.
u u u u u u u u u u u
If there is a relationship between variables, but the relationship is not linear, what possible
u u u u u u u u u u u u u u u
challenge with regression could it be? - Correct Answer-Polynomial Regression
u u u u u u u u u
,Catherine is trying to sell a ticket to the Super Bowl. She is determining whether or not she
u u u u u u u u u u u u u u u u u u
should sell a ticket now or wait until just before the game and try and sell it then. Currently, s
u u u u u u u u u u u u u u u u u u u
omeone is offering $350 for the ticket. From research of past prices, she knows that the tick
u u u u u u u u u u u u u u u u
ets immediately before the Super Bowl are sold for about $500. She determines that there i
u u u u u u u u u u u u u u u
s a 75 percent chance she will be able to sell the ticket immediately before the Super Bowl.
u u u u u u u u u u u u u u u u u u
Based on expected payoffs from risk decision making, what should she do? How much is t
u u u u u u u u u u u u u u u
he difference if she chooses to sell now - Correct Answer-
u u u u u u u u u u
Catherine should wait to sell ticket; the difference will be $25.
u u u u u u u u u u
Heteroscedasticity - Correct Answer- u u u
A regression in which the variances in y for the values of x are not equal
u u u u u u u u u u u u u u u
Cumulative Average-Time Learning Model - Correct Answer- u u u u u u
A learning curve model in which the cumulative average time per unit declines by a consta
u u u u u u u u u u u u u u u
nt percentage each time the cumulative quantity of units produced is doubled
u u u u u u u u u u u
Dependent Variable - Correct Answer- u u u u
The variable whose value depends on one or more variables in the equation; typically the c
u u u u u u u u u u u u u u u
ost or activity to be predicted
u u u u u
Independent Variable - Correct Answer- u u u u
The variable presumed to influence another variable (dependent variable); typically it is the
u u u u u u u u u u u u
ulevel of activity or cost driver
u u u u u
Analysis of Variance (ANOVA) - Correct Answer-
u u u u u u
A statistical method that helps identify the sources of variability by comparing their means
u u u u u u u u u u u u u u
or averages; it compares the variation within a sample to the variation between samples to
u u u u u u u u u u u u u u u
see if any differences are the result of some contributing factor or if the differences occur by
u u u u u u u u u u u u u u u u
chance alon
u u
Experience Curve - Correct Answer- u u u u
A curve that shows the decline in cost per unit in various business functions of the value ch
u u u u u u u u u u u u u u u u u
ain as the amount of these activities increases
u u u u u u u
Crossover Analysis - Correct Answer- u u u u
Allows a decision maker to identify the crossover point, which represents the point at which
u u u u u u u u u u u u u u
we are indifferent between the plans
u u u u u u
Cyclicality - Correct Answer- u u u
Repetition of up (peaks) or down movements (troughs) that follow or counteract a business
u u u u u u u u u u u u u
cycle that can last several years
u u u u u u
Linear Programming - Correct Answer-
u u u u
A mathematical tool used to optimize a function (the objective function) subject to various c
u u u u u u u u u u u u u u
, onstraints, all of which are linear. Often used to find the combination of products that will m
u u u u u u u u u u u u u u u u
aximize profits or minimize costs u u u u
Simple Linear Regression - Correct Answer-
u u u u u
A form of regression analysis with only one independent variable
u u u u u u u u u
Regression Line - Correct Answer- u u u u
the "line of best fit" where the margin of error at every point is minimized
u u u u u u u u u u u u u u
Data Management - Correct Answer-
u u u u
The management, including cleaning and storage, of collected data
u u u u u u u u
Random Variation - Correct Answer- u u u u
The variability of a process which might be caused by irregular fluctuations due to chance t
u u u u u u u u u u u u u u u
hat cannot be anticipated, detected, or eliminated
u u u u u u
Seasonality - Correct Answer-Regular pattern of volatility, usually within a single year
u u u u u u u u u u u
Homoscedasticity - Correct Answer- u u u
A regression in which the variances in y for the values of x are equal or close to equal
u u u u u u u u u u u u u u u u u u
Irregularity - Correct Answer-One- u u u
time deviations from expectations caused by unforeseen circumstances such as war, natu
u u u u u u u u u u u
ral disasters, poor weather, labor strikes, single-occurrence company-
u u u u u u u
specific surprises or macroeconomic shocks
u u u u
Chi-squared Test - Correct Answer- u u u u
A hypothesis test that is used to examine the distribution of categorical data
u u u u u u u u u u u u
Expected Value - Correct Answer- u u u u
The Expected Value for an alternative is the sum of all possible payoffs for that alternative,
u u u u u u u u u u u u u u u u
each weighted by the probability of that payoff occurring
u u u u u u u u
Multiple Linear Regression - Correct Answer-
u u u u u
A statistical method used to model the relationship between one dependent (or response)
u u u u u u u u u u u u u
variable and two or more independent (or explanatory) variables by fitting a linear equation
u u u u u u u u u u u u u
to observed data
u u u
Regression Analysis - Correct Answer- u u u u
A statistical analysis tool that quantifies the relationship between a dependent variable and
u u u u u u u u u u u u
one or more independent variables
u u u u u
Decision Tree - Correct Answer- u u u u
A diagram of possible alternatives and their expected consequences used to formulate po
u u u u u u u u u u u u
ssible courses of actions in order to make decisions
u u u u u u u u
