WGU C207 Data Driven Decision Making Exam With 100% Correct Answers

WGU C207 Data Driven Decision Making Exam With 100% Correct Answers Activities (RBM stage) - answersecond step involves the process that converts inputs to outputs (actions necessary to produces results - training, evaluating, developing) Alternative hypothesis - answerThe argument that either a sample is not equal to, greater than, or less than the hypothesized null sample Analysis of Variance (ANOVA) - answera 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 - answerThe discovery, analysis, and communication of meaningful patterns in data. Autocorrelation - answerA relationship between two variables that is inherently non-linear Balanced Scorecard - answerAn 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 - answerA graph that measures the distribution of data over discrete groups or categories. Benchmarks - answerStandards or points of reference for an industry or sector that can be used for comparison and evaluation. Big Data - answervery 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 - answerA study performed where the participants are not told if they are in the treatment group or control group body mass index (BMI) - answerA measure, based on a person's weight and height, that is used to classify people as underweight or overweight. Business process - answerA sequence of logically related and time based work activities to provide a specific output for a customer. Central Limit Theorem - answerA 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 - answerThe process of arranging terms or values based on different variables into "natural" groups Cointegration - answerOccurs when two time series are moving with a common pattern due to a connection between the two time series Combination - answerThe number of different unordered possibilities for a certain situation. Complement - answerThe occurrence of an event not happening, the opposite Confidence interval - answerAn interval estimate used to indicate reliability Continuous Data - answerData that can lay along any point in a range of data Control chart - answerA 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 - answerThe 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. Criterion-reference test - answercompare an individual to certain defined standards Cumulative Average-Time Learning Model - answerA learning curve model in which the cumulative average time per unit declines by a constant percentage each time the cumulative quantity of units produced is doubled Cumulative distributions - answerThe probability that a random variable will be found at a value less than or equal to a given number Customer satisfaction - answerA measure of the extent to which customers are satisfied with the products and related services they received from a supplier. Cycle time - answerThe total elapsed time to move a unit of work from the beginning to the end of a physical process, as defined by the producer and the customer. Data Management - answerThe management, including cleaning and storage, of collected data. Data Mining - answerthe process of discovering patterns in large data sets; performed on big data to decipher patterns from these large databases Data Set - answerA collection of related data records on a storage device. Davenport Kim Three Stage Model - answerA decision making model developed by Thomas Davenport and Jinho Kim that consists of three stages: framing the problem, solving the problem, and communicating results Dependent Variable - answerThe variable whose value depends on one or more variables in the equation; typically the cost or