Package deal
WGU C207 Data Driven Decision Making TESTS COMPILATION BUNDLE
WGU C207 Data Driven Decision Making TESTS COMPILATION BUNDLE
[Show more]WGU C207 Data Driven Decision Making TESTS COMPILATION BUNDLE
[Show more]Activities (RBM stage) CORRECT ANSWERS: second step involves the process that converts inputs to outputs (actions necessary to produces results - training, evaluating, developing) 
 
Alternative hypothesis CORRECT ANSWERS: The argument that either a sample is not equal to, greater than, or less th...
Preview 2 out of 11 pages
Add to cartActivities (RBM stage) CORRECT ANSWERS: second step involves the process that converts inputs to outputs (actions necessary to produces results - training, evaluating, developing) 
 
Alternative hypothesis CORRECT ANSWERS: The argument that either a sample is not equal to, greater than, or less th...
For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... 
 a. Statistics 
 b. Analytics 
 c. Management Science 
 d. Histograms CORRECT ANSWERS: b 
 
A manufacturer wants to maximize their factory output wh...
Preview 2 out of 15 pages
Add to cartFor companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... 
 a. Statistics 
 b. Analytics 
 c. Management Science 
 d. Histograms CORRECT ANSWERS: b 
 
A manufacturer wants to maximize their factory output wh...
Analytics is a broad term that refers to a variety of tools that inform managerial decisions. 
 
Which term can be used to describe managerial decisions? 
a. Prescriptive 
b. Predictive 
c. Pareto chart 
d. Biased CORRECT ANSWERS: a 
 
What are two reasons for the increasing use of analytics in or...
Preview 2 out of 13 pages
Add to cartAnalytics is a broad term that refers to a variety of tools that inform managerial decisions. 
 
Which term can be used to describe managerial decisions? 
a. Prescriptive 
b. Predictive 
c. Pareto chart 
d. Biased CORRECT ANSWERS: a 
 
What are two reasons for the increasing use of analytics in or...
Which of the following is NOT an application of statistics in business? 
 
a Determine the internet advertiser that will reach the most people from extensive page view data. 
b Determine a target market based on information on household incomes throughout the country. 
c Predict trends in certain in...
Preview 3 out of 16 pages
Add to cartWhich of the following is NOT an application of statistics in business? 
 
a Determine the internet advertiser that will reach the most people from extensive page view data. 
b Determine a target market based on information on household incomes throughout the country. 
c Predict trends in certain in...
(Quiz 1) 1. For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... 
 
A) Statistics 
B) Analytics 
C) Management Science 
D) Histograms CORRECT ANSWERS: B 
 
(Quiz 1) 2. A manufacturer wants to maximize t...
Preview 3 out of 17 pages
Add to cart(Quiz 1) 1. For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... 
 
A) Statistics 
B) Analytics 
C) Management Science 
D) Histograms CORRECT ANSWERS: B 
 
(Quiz 1) 2. A manufacturer wants to maximize t...
The relationship between several independent variables and one dependent variable is shown using __________. 
 
a logistic regression 
b simple linear regression 
c multiple linear regression 
d nonlinear regression CORRECT ANSWERS: c multiple linear regression 
 
Company A sells its 12,000th unit ...
Preview 2 out of 12 pages
Add to cartThe relationship between several independent variables and one dependent variable is shown using __________. 
 
a logistic regression 
b simple linear regression 
c multiple linear regression 
d nonlinear regression CORRECT ANSWERS: c multiple linear regression 
 
Company A sells its 12,000th unit ...
management strategy that uses results as the central measurement of performance CORRECT ANSWERS: Results-based management (RBM)* 
 
dynamic, iterative process of incorporating changes in a project (or organization) over time by responding to feedback and adding new technology and new capabilities ...
Preview 1 out of 3 pages
Add to cartmanagement strategy that uses results as the central measurement of performance CORRECT ANSWERS: Results-based management (RBM)* 
 
dynamic, iterative process of incorporating changes in a project (or organization) over time by responding to feedback and adding new technology and new capabilities ...
Performance measures are used to _______ the efficiency of an individual or group by using _________ and analytics. 
 
a quantify, regression analysis 
b quantify, data collection 
c evaluate, regression analysis 
d evaluate, data collection CORRECT ANSWERS: d evaluate, data collection 
 
What does...
Preview 2 out of 9 pages
Add to cartPerformance measures are used to _______ the efficiency of an individual or group by using _________ and analytics. 
 
a quantify, regression analysis 
b quantify, data collection 
c evaluate, regression analysis 
d evaluate, data collection CORRECT ANSWERS: d evaluate, data collection 
 
What does...
Results-based management does NOT need which of the following? 
 
a Statistically complex indicators 
b Constant monitoring 
c Collaboration between all participants 
d A common goal among everyone involved CORRECT ANSWERS: a Statistically complex indicators 
 
Results-based management uses simple ...
Preview 2 out of 10 pages
Add to cartResults-based management does NOT need which of the following? 
 
a Statistically complex indicators 
b Constant monitoring 
c Collaboration between all participants 
d A common goal among everyone involved CORRECT ANSWERS: a Statistically complex indicators 
 
Results-based management uses simple ...
trend CORRECT ANSWERS: is a general direction in which something is developing or changing 
 
analysis of variance (ANOVA) CORRECT ANSWERS: verifies if multiple populations of data are the same or at least one is different than the others. 
 
cyclicality CORRECT ANSWERS: describes results that go...
Preview 2 out of 6 pages
Add to carttrend CORRECT ANSWERS: is a general direction in which something is developing or changing 
 
analysis of variance (ANOVA) CORRECT ANSWERS: verifies if multiple populations of data are the same or at least one is different than the others. 
 
cyclicality CORRECT ANSWERS: describes results that go...
Z-Score CORRECT ANSWERS: Data points only. Measurement of a scores relationship to the mean. A statistical measure that indicates the number of standard deviations a data point is from its mean. 
 
Variance CORRECT ANSWERS: How far a set of numbers are spread. Used for Data set. Hint Words = Risk,...
Preview 2 out of 6 pages
Add to cartZ-Score CORRECT ANSWERS: Data points only. Measurement of a scores relationship to the mean. A statistical measure that indicates the number of standard deviations a data point is from its mean. 
 
Variance CORRECT ANSWERS: How far a set of numbers are spread. Used for Data set. Hint Words = Risk,...
There are two types of statistics (Analytics) CORRECT ANSWERS: (Analytics) Descriptive and Inferential 
 
Descriptive statistics are used to ______ CORRECT ANSWERS: Inform / Explanatory 
 
Inferential statistics are used to ______ CORRECT ANSWERS: Predict / Trend 
 
Name the 4 levels of measureme...
Preview 2 out of 6 pages
Add to cartThere are two types of statistics (Analytics) CORRECT ANSWERS: (Analytics) Descriptive and Inferential 
 
Descriptive statistics are used to ______ CORRECT ANSWERS: Inform / Explanatory 
 
Inferential statistics are used to ______ CORRECT ANSWERS: Predict / Trend 
 
Name the 4 levels of measureme...
What is the key focus on analysis? CORRECT ANSWERS: To predict trends using quantitative data. 
 
What are the four levels of measurement? CORRECT ANSWERS: 1. Nominal 
2. Ordinal 
3. Interval 
4. Ratio 
 
Nominal data CORRECT ANSWERS: is categorical. It has no numerical value. It's not a number...
Preview 3 out of 28 pages
Add to cartWhat is the key focus on analysis? CORRECT ANSWERS: To predict trends using quantitative data. 
 
What are the four levels of measurement? CORRECT ANSWERS: 1. Nominal 
2. Ordinal 
3. Interval 
4. Ratio 
 
Nominal data CORRECT ANSWERS: is categorical. It has no numerical value. It's not a number...
Confidence Interval CORRECT ANSWERS: An interval estimate used to indicate reliability 
 
Probability Density Function CORRECT ANSWERS: Often used to represent probabilities of continuous data; gives the probability that a continuous random variable is equal to the area below it 
 
Standard Deviat...
Preview 1 out of 3 pages
Add to cartConfidence Interval CORRECT ANSWERS: An interval estimate used to indicate reliability 
 
Probability Density Function CORRECT ANSWERS: Often used to represent probabilities of continuous data; gives the probability that a continuous random variable is equal to the area below it 
 
Standard Deviat...
For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to CORRECT ANSWERS: Analytics 
 
A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics mi...
Preview 2 out of 8 pages
Add to cartFor companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to CORRECT ANSWERS: Analytics 
 
A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics mi...
1x sold
Analytics is a broad term that refers to a variety of tools that inform managerial decisions.Which term can be used to describe managerial decisions? CORRECT ANSWERS: Prescriptive 
 
What are two reasons for the increasing use of analytics in organizational decision-making? CORRECT ANSWERS: Relati...
Preview 2 out of 7 pages
Add to cartAnalytics is a broad term that refers to a variety of tools that inform managerial decisions.Which term can be used to describe managerial decisions? CORRECT ANSWERS: Prescriptive 
 
What are two reasons for the increasing use of analytics in organizational decision-making? CORRECT ANSWERS: Relati...
Frame the Problem, Solving the Problem and Communicating Results are part of which decision making model? CORRECT ANSWERS: Davenport-Kim three-stage model 
 
In which stage of the Davenport-Kim model is problem recognition? CORRECT ANSWERS: Framing the problem 
 
In which stage of the Davenport-Ki...
Preview 1 out of 3 pages
Add to cartFrame the Problem, Solving the Problem and Communicating Results are part of which decision making model? CORRECT ANSWERS: Davenport-Kim three-stage model 
 
In which stage of the Davenport-Kim model is problem recognition? CORRECT ANSWERS: Framing the problem 
 
In which stage of the Davenport-Ki...
A Charity is evaluating the effectiveness of its annual walk promotional campaign, in increasing walk participants and donations. What is the appropriate tool for evaluating performance? CORRECT ANSWERS: Results-based management 
 
An online Active Wear retailer wants to use their last year's sale...
Preview 1 out of 1 pages
Add to cartA Charity is evaluating the effectiveness of its annual walk promotional campaign, in increasing walk participants and donations. What is the appropriate tool for evaluating performance? CORRECT ANSWERS: Results-based management 
 
An online Active Wear retailer wants to use their last year's sale...
Statistics CORRECT ANSWERS: The science that deals with the interpretation of numerical facts or data through theories of probability. Also, the numerical facts or data themselves. 
 
Benchmarks CORRECT ANSWERS: Standards or points of reference for an industry or sector that can be used for compar...
Preview 1 out of 3 pages
Add to cartStatistics CORRECT ANSWERS: The science that deals with the interpretation of numerical facts or data through theories of probability. Also, the numerical facts or data themselves. 
 
Benchmarks CORRECT ANSWERS: Standards or points of reference for an industry or sector that can be used for compar...
Data Management CORRECT ANSWERS: The management, including cleaning and storage, of collected data 
 
Regression Analysis CORRECT ANSWERS: A statistical analysis tool that quantifies the relationship between a dependent variable and one or more independent variables 
 
Dependent Variable CORRECT ...
Preview 1 out of 3 pages
Add to cartData Management CORRECT ANSWERS: The management, including cleaning and storage, of collected data 
 
Regression Analysis CORRECT ANSWERS: A statistical analysis tool that quantifies the relationship between a dependent variable and one or more independent variables 
 
Dependent Variable CORRECT ...
Option ranking CORRECT ANSWERS: An indicator that explains how well an option will satisfy a criterion in a prioritization matrix. 
 
Pareto Chart [Tool] CORRECT ANSWERS: A histogram, ordered by frequency of occurrence, that shows how many results were generated by each identified cause. 
 
Plan-D...
Preview 1 out of 2 pages
Add to cartOption ranking CORRECT ANSWERS: An indicator that explains how well an option will satisfy a criterion in a prioritization matrix. 
 
Pareto Chart [Tool] CORRECT ANSWERS: A histogram, ordered by frequency of occurrence, that shows how many results were generated by each identified cause. 
 
Plan-D...
Affinity diagram CORRECT ANSWERS: A tool that helps teams sort verbal data or ideas into categories for further investigation or evaluation. 
 
Analysis of Variance (ANOVA) CORRECT ANSWERS: A statistical method that helps identify the sources of variability by comparing their means or averages; it...
Preview 2 out of 6 pages
Add to cartAffinity diagram CORRECT ANSWERS: A tool that helps teams sort verbal data or ideas into categories for further investigation or evaluation. 
 
Analysis of Variance (ANOVA) CORRECT ANSWERS: A statistical method that helps identify the sources of variability by comparing their means or averages; it...
α CORRECT ANSWERS: The lower case Greek letter "alpha" 
 
β CORRECT ANSWERS: The lower case Greek letter "beta" 
 
δ CORRECT ANSWERS: The lower case Greek letter "delta" 
 
γ CORRECT ANSWERS: The lower case Greek letter "gamma" 
 
θ CORRECT ANSWERS: The lower case Greek letter "th...
Preview 4 out of 51 pages
Add to cartα CORRECT ANSWERS: The lower case Greek letter "alpha" 
 
β CORRECT ANSWERS: The lower case Greek letter "beta" 
 
δ CORRECT ANSWERS: The lower case Greek letter "delta" 
 
γ CORRECT ANSWERS: The lower case Greek letter "gamma" 
 
θ CORRECT ANSWERS: The lower case Greek letter "th...
Affinity diagram CORRECT ANSWERS: A tool that helps teams sort verbal data or ideas into categories for further investigation or evaluation. 
 
Analysis of Variance (ANOVA) CORRECT ANSWERS: A statistical method that helps identify the sources of variability by comparing their means or averages; it...
Preview 1 out of 2 pages
Add to cartAffinity diagram CORRECT ANSWERS: A tool that helps teams sort verbal data or ideas into categories for further investigation or evaluation. 
 
Analysis of Variance (ANOVA) CORRECT ANSWERS: A statistical method that helps identify the sources of variability by comparing their means or averages; it...
Random Errors CORRECT ANSWERS: Error in measurement caused by unpredictable statistical fluctuations 
 
Information Bias CORRECT ANSWERS: A prejudice in the data that results when either the respondent or the interviewer has an agenda and is not presenting impartial questions or responding with tr...
Preview 3 out of 21 pages
Add to cartRandom Errors CORRECT ANSWERS: Error in measurement caused by unpredictable statistical fluctuations 
 
Information Bias CORRECT ANSWERS: A prejudice in the data that results when either the respondent or the interviewer has an agenda and is not presenting impartial questions or responding with tr...
Results-based management (RBM)* CORRECT ANSWERS: management strategy that uses results as the central measurement of performance Assess: What is the current situation? 
Think: What caused it? Who is involved? 
Envision: What are we going to achieve? 
Plan: How are we going to do it? With whom? When...
Preview 1 out of 4 pages
Add to cartResults-based management (RBM)* CORRECT ANSWERS: management strategy that uses results as the central measurement of performance Assess: What is the current situation? 
Think: What caused it? Who is involved? 
Envision: What are we going to achieve? 
Plan: How are we going to do it? With whom? When...
Descriptive CORRECT ANSWERS: Past data only; Not predicting or optimizing 
 
Predictive CORRECT ANSWERS: Past to predict the future; Predicting, no optimizing 
 
Prescriptive CORRECT ANSWERS: Past to predict the future and optimizing 
 
Omission CORRECT ANSWERS: Missing information 
 
Out of Ran...
Preview 2 out of 9 pages
Add to cartDescriptive CORRECT ANSWERS: Past data only; Not predicting or optimizing 
 
Predictive CORRECT ANSWERS: Past to predict the future; Predicting, no optimizing 
 
Prescriptive CORRECT ANSWERS: Past to predict the future and optimizing 
 
Omission CORRECT ANSWERS: Missing information 
 
Out of Ran...
Activities (RBM stage) CORRECT ANSWERS: second step involves the process that converts inputs to outputs (actions necessary to produces results - training, evaluating, developing) 
 
Alternative hypothesis CORRECT ANSWERS: The argument that either a sample is not equal to, greater than, or less th...
Preview 3 out of 19 pages
Add to cartActivities (RBM stage) CORRECT ANSWERS: second step involves the process that converts inputs to outputs (actions necessary to produces results - training, evaluating, developing) 
 
Alternative hypothesis CORRECT ANSWERS: The argument that either a sample is not equal to, greater than, or less th...
Results-based management (RBM)* CORRECT ANSWERS: management strategy that uses results as the central measurement of performance 
 
life-cycle approach CORRECT ANSWERS: dynamic, iterative process of incorporating changes in a project (or organization) over time by responding to feedback and adding...
Preview 1 out of 3 pages
Add to cartResults-based management (RBM)* CORRECT ANSWERS: management strategy that uses results as the central measurement of performance 
 
life-cycle approach CORRECT ANSWERS: dynamic, iterative process of incorporating changes in a project (or organization) over time by responding to feedback and adding...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller Classroom. Stuvia facilitates payment to the seller.
No, you only buy these notes for $30.49. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now