C207 qu - Study guides, Class notes & Summaries

WGU C207 Quiz Exam With 100% Correct Answers 2024/2025 Now that we've been open for 15 weeks, we want to compare the average weekly sales on Saturday to the average weekly sales on Sunday. Which is the appropriate statistical test? - answert-test We perform a t-test and our p-value is less than 0.05. Should we reject the null? - answerYes. We have a significant difference between the groups. Which statistical test can we use to test a correlation between customers per day and sales per ...

WGU C207 Quiz Exam With 100% Correct Answers 2024/2025 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? - answerPrescriptive What are two reasons for the increasing use of analytics in organizational decision-making? - answerRelatively lower cost of computer storage Higher computer processing power How does probability theory inform decision-making for managers? - answerBy quantifying ri...

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 Analytics A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve this goal? Prescriptive Analytics What type of data error that occurs in measurement is constant within a data set and is sometimes caused by faulty equipment or bias? Systematic An Educat...

Descriptive and Inferential There are two types of statistics (Analytics) Inform / Explanatory Descriptive statistics are used to ______ Predict / Trend Inferential statistics are used to ______ (NOIR) Nominal, Ordinal, Interval Ratio Name the 4 levels of measurement Ratio Continuous data with unique zero point Interval Orders data at equal distance apart Ordinal Place qualitative objects in some kind of order Nominal Identify, Group, or C...

WGU C207 Questions and Answers 100% Correct Random Errors Error in measurement caused by unpredictable statistical fluctuations Information Bias 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 truly honest responses, respectively Ratio Data Similar to interval data in that the data is ordered within a range and with each data point being an equal interval apart, also has a natural zero...

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 Analytics A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve this goal? Prescriptive Analytics What type of data error that occurs in measurement is constant within a data set and is sometimes caused by faulty equipment or bias? Systemati...

WGU C207 Questions and Answers with Certified Solutions 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 ...

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 truly honest responses, respectively Ratio Data CORRECT ANSWERS: Similar to interval data in that the data is ordered within a range and with each data point being an equal interval apart, also has ...

WGU C207 Quizes 2023 Questions with Correct Answers 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 - ANSWER Analytics A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve this goal? - ANSWER Prescriptive Analytics What type of data error that occurs in measurement is constant within a data set...

WGU C207 Quizes Latest 2023 Already Passed 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 Analytics A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve this goal? Prescriptive Analytics What type of data error that occurs in measurement is constant within a data set and is sometimes caused by faulty...