WGU C207 (WGUC207)

WGU C207 Modules 1 – 6 Exams Questions and Verified Answers (100% Correct Answers)

1. Define analytics ANS Turning information into knowledge and developing fact based strategies to gain a competitive edge. 2. Descriptive/Diagnostic analytics ANS Encompasses the set of techniques that de- scribes what has happened in the past. 3. Predictive analytics ANS Consists of techniques that use models constructed from past data to predict the future or ascertain the impact of one variable on another. 4. Prescriptive analytics ANS Decision models that indicate the best course of ...

WGU C207 Modules 1 – 6 Exam Prep Questions And Answers (Answered) Frame the Problem, Solving the Problem and Communicating Results are part of which decision making model? Davenport-Kim three-stage model In which stage of the Davenport-Kim model is problem recognition? Framing the problem In which stage of the Davenport-Kim model is data collection? Solving the problem What is a key reason we study statistics? To make informed decisions Visually presenting the data assists in which ...

WGU C207 Pre-Assessment Multi Choice Version Data-Driven Decision Making (PVPC) (Answered 2022/2023) 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 a What are two reasons for the increasing use of analytics in organizational decision making? a. Relatively lower cost of computer storage b. Lower availability of statistica...

WGU C207 Data Driven Decision Making Exam With 100% Correct Answers Z-Score - answerData 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 - answerHow far a set of numbers are spread. Used for Data set. Hint Words = Risk, spread. Multiplication Rule - answerA method for finding the probability that both of two events occur. When the probabilities of multiple events a...

WGU C207 Module Quizzes Multi Choice Version Data-Driven Decision Making Exam Questions and Answers 100% Solved 2024 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 - answerb A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve t...

WGU C207 AO Exam Questions And Answers With 100% Correct Answers Prescriptive - answerAnalytics is a broad term that refers to a variety of tools that inform managerial decisions. Which term can be used to describe managerial decisions Relatively lower cost of computer storage Higher computer processing power - answerWhat are two reasons for the increasing use of analytics in organizational decision making? Choose 2 answers By quantifying risk - answerIn what way does probability theory...

WGU C207 Exam Questions And Answers With 100% Correct Answers There are two types of statistics (Analytics) - answerdescriptive and inferential Descriptive statistics are used to ______ - answerInform / Explanatory Inferential statistics are used to ______ - answerPredict / Trend Name the 4 levels of measurement - answer(NOIR) Nominal, Ordinal, Interval, Ratio Continuous data with unique zero point - answerratio Orders data at equal distance apart - answerinterval Place qualitative objec...

WGU C207 Pre Assessment Study Guide Exam With 100% Correct Answers Which term can be used to describe managerial decisions? - answerPrescriptive 2 reasons for the increase in use of analytics in organizational decision making? - answer1. Relatively low cost of computer storage 2. Higher computer processing power How does probability theory inform decision-making for managers? - answerBy quantifying risk Which type of data are the Olympic medals of gold, silver, and bronze examples of? - ...