C207 Data-Driven Decision Making FINAL EXAM 2024
LATEST GRADED A+ WGU CERTIFIED EXAM
Activities (RBM stage) - ANSWER: second step involves the process that converts
inputs to outputs (actions necessary to produces results - training, evaluating,
developing)
Alternative hypothesis - ANSWER: The argument that either a sample is not equal to,
greater than, or less than the hypothesized null sample
Analysis of Variance (ANOVA) - ANSWER: 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 - ANSWER: The discovery, analysis, and communication of meaningful
patterns in data.
Autocorrelation - ANSWER: A relationship between two variables that is inherently
non-linear
Balanced Scorecard - ANSWER: 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 - ANSWER: A graph that measures the distribution of data over discrete
groups or categories.
Benchmarks - ANSWER: Standards or points of reference for an industry or sector
that can be used for comparison and evaluation.
Big Data - ANSWER: 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 - ANSWER: A study performed where the participants are not told if they
are in the treatment group or control group
body mass index (BMI) - ANSWER: A measure, based on a person's weight and
height, that is used to classify people as underweight or overweight.
Business process - ANSWER: A sequence of logically related and time based work
activities to provide a specific output for a customer.
,Central Limit Theorem - ANSWER: A 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 - ANSWER: The process of arranging terms or values based on
different variables into "natural" groups
Cointegration - ANSWER: Occurs when two time series are moving with a common
pattern due to a connection between the two time series
Combination - ANSWER: The number of different unordered possibilities for a certain
situation.
Complement - ANSWER: The occurrence of an event not happening, the opposite
Confidence interval - ANSWER: An interval estimate used to indicate reliability
Continuous Data - ANSWER: Data that can lay along any point in a range of data
Control chart - ANSWER: A 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 - ANSWER: The 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 - ANSWER: compare an individual to certain defined
standards
Cumulative Average-Time Learning Model - ANSWER: A 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 - ANSWER: The probability that a random variable will be
found at a value less than or equal to a given number
Customer satisfaction - ANSWER: A measure of the extent to which customers are
satisfied with the products and related services they received from a supplier.
Cycle time - ANSWER: The 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 - ANSWER: The management, including cleaning and storage, of
collected data.
Data Mining - ANSWER: the process of discovering patterns in large data sets;
performed on big data to decipher patterns from these large databases
Data Set - ANSWER: A collection of related data records on a storage device.
Davenport Kim Three Stage Model - ANSWER: A 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 - ANSWER: The variable whose value depends on one or more
variables in the equation; typically the cost or activity to be predicted
Detractor - ANSWER: A category of customer used in the calculation of the Net
Promoter Score that indicates an unhappy customer.
Discrete Data - ANSWER: Data that can only take on whole values and has clear
boundaries
Double Blind Study - ANSWER: A study performed where neither the treatment
allocator nor the participant knows which group the participant is in
Epidemiology - ANSWER: study of the incidence, distribution and possible control of
diseases and other factors relating to health
Event - ANSWER: An outcome that occurs
Experience Curve - ANSWER: A curve that shows the decline in cost per unit in
various business functions of the value chain as the amount of these activities
increases
Heteroscedasticity - ANSWER: A regression in which the variances in y for the values
of x are not equal
Histogram - ANSWER: A graph that displays continuous data. This type of graph has
vertical bars that show the counts or numbers in each range of data. A vertical bar
chart that shows the distribution of data across groups or categories.
Homoscedasticity - ANSWER: A regression in which the variances in y for the values
of x are equal or close to equal
Hypothesis - ANSWER: A proposed explanation used as a starting point for future
examination
LATEST GRADED A+ WGU CERTIFIED EXAM
Activities (RBM stage) - ANSWER: second step involves the process that converts
inputs to outputs (actions necessary to produces results - training, evaluating,
developing)
Alternative hypothesis - ANSWER: The argument that either a sample is not equal to,
greater than, or less than the hypothesized null sample
Analysis of Variance (ANOVA) - ANSWER: 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 - ANSWER: The discovery, analysis, and communication of meaningful
patterns in data.
Autocorrelation - ANSWER: A relationship between two variables that is inherently
non-linear
Balanced Scorecard - ANSWER: 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 - ANSWER: A graph that measures the distribution of data over discrete
groups or categories.
Benchmarks - ANSWER: Standards or points of reference for an industry or sector
that can be used for comparison and evaluation.
Big Data - ANSWER: 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 - ANSWER: A study performed where the participants are not told if they
are in the treatment group or control group
body mass index (BMI) - ANSWER: A measure, based on a person's weight and
height, that is used to classify people as underweight or overweight.
Business process - ANSWER: A sequence of logically related and time based work
activities to provide a specific output for a customer.
,Central Limit Theorem - ANSWER: A 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 - ANSWER: The process of arranging terms or values based on
different variables into "natural" groups
Cointegration - ANSWER: Occurs when two time series are moving with a common
pattern due to a connection between the two time series
Combination - ANSWER: The number of different unordered possibilities for a certain
situation.
Complement - ANSWER: The occurrence of an event not happening, the opposite
Confidence interval - ANSWER: An interval estimate used to indicate reliability
Continuous Data - ANSWER: Data that can lay along any point in a range of data
Control chart - ANSWER: A 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 - ANSWER: The 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 - ANSWER: compare an individual to certain defined
standards
Cumulative Average-Time Learning Model - ANSWER: A 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 - ANSWER: The probability that a random variable will be
found at a value less than or equal to a given number
Customer satisfaction - ANSWER: A measure of the extent to which customers are
satisfied with the products and related services they received from a supplier.
Cycle time - ANSWER: The 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 - ANSWER: The management, including cleaning and storage, of
collected data.
Data Mining - ANSWER: the process of discovering patterns in large data sets;
performed on big data to decipher patterns from these large databases
Data Set - ANSWER: A collection of related data records on a storage device.
Davenport Kim Three Stage Model - ANSWER: A 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 - ANSWER: The variable whose value depends on one or more
variables in the equation; typically the cost or activity to be predicted
Detractor - ANSWER: A category of customer used in the calculation of the Net
Promoter Score that indicates an unhappy customer.
Discrete Data - ANSWER: Data that can only take on whole values and has clear
boundaries
Double Blind Study - ANSWER: A study performed where neither the treatment
allocator nor the participant knows which group the participant is in
Epidemiology - ANSWER: study of the incidence, distribution and possible control of
diseases and other factors relating to health
Event - ANSWER: An outcome that occurs
Experience Curve - ANSWER: A curve that shows the decline in cost per unit in
various business functions of the value chain as the amount of these activities
increases
Heteroscedasticity - ANSWER: A regression in which the variances in y for the values
of x are not equal
Histogram - ANSWER: A graph that displays continuous data. This type of graph has
vertical bars that show the counts or numbers in each range of data. A vertical bar
chart that shows the distribution of data across groups or categories.
Homoscedasticity - ANSWER: A regression in which the variances in y for the values
of x are equal or close to equal
Hypothesis - ANSWER: A proposed explanation used as a starting point for future
examination
