WGU C207 Data Driven Decision Making
Complete Final Exam Study Questions
with 100% Verified Answers | Latest
Edition
1. Activities (RBM stage) - ANSWER second step involves the process that
converts inputs to outputs (actions necessary to produces results - training,
evaluating, developing)
2. Alternative hypothesis - ANSWER The argument that either a sample is not
equal to, greater than, or less than the hypothesized null sample
3. Cointegration - ANSWER Occurs when two time series are moving with a
common pattern due to a connection between the two time series
4. Combination - ANSWER The number of different unordered possibilities
for a certain situation.
5. Complement - ANSWER The occurrence of an event not happening, the
opposite
6. Confidence interval - ANSWER An interval estimate used to indicate
reliability
7. Continuous Data - ANSWER Data that can lay along any point in a range of
data
,8. 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.
9. 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
10.Criterion-reference test - ANSWER compare an individual to certain
defined standards
11.Critical Success Factors - ANSWER The important things an entity must do
to be successful, such as quality measures, customer service, or efficiency.
12.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
13.Cumulative distributions - ANSWER The probability that a random
variable will be found at a value less than or equal to a given number
14.Customer satisfaction - ANSWER A measure of the extent to which
customers are satisfied with the products and related services they received
from a supplier.
15.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.
,16.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
17.Analytics - ANSWER The discovery, analysis, and communication of
meaningful patterns in data.
18.Autocorrelation - ANSWER A relationship between two variables that is
inherently non-linear
19.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.
20.Bar chart - ANSWER A graph that measures the distribution of data over
discrete groups or categories.
21.Benchmarks - ANSWER Standards or points of reference for an industry or
sector that can be used for comparison and evaluation.
22.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
23.Blind Study - ANSWER A study performed where the participants are not
told if they are in the treatment group or control group
24.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.
, 25.Business process - ANSWER A sequence of logically related and time
based work activities to provide a specific output for a customer.
26.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
27.Cluster Analysis - ANSWER The process of arranging terms or values
based on different variables into "natural" groups
28.Cyclicality - ANSWER Repetition of up (peaks) or down movements
(troughs) that follow or counteract a business cycle that can last several
years
29.Data Management - ANSWER The management, including cleaning and
storage, of collected data.
30.Data Mining - ANSWER the process of discovering patterns in large data
sets; performed on big data to decipher patterns from these large databases
31.Data Set - ANSWER A collection of related data records on a storage
device.
32.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
Complete Final Exam Study Questions
with 100% Verified Answers | Latest
Edition
1. Activities (RBM stage) - ANSWER second step involves the process that
converts inputs to outputs (actions necessary to produces results - training,
evaluating, developing)
2. Alternative hypothesis - ANSWER The argument that either a sample is not
equal to, greater than, or less than the hypothesized null sample
3. Cointegration - ANSWER Occurs when two time series are moving with a
common pattern due to a connection between the two time series
4. Combination - ANSWER The number of different unordered possibilities
for a certain situation.
5. Complement - ANSWER The occurrence of an event not happening, the
opposite
6. Confidence interval - ANSWER An interval estimate used to indicate
reliability
7. Continuous Data - ANSWER Data that can lay along any point in a range of
data
,8. 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.
9. 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
10.Criterion-reference test - ANSWER compare an individual to certain
defined standards
11.Critical Success Factors - ANSWER The important things an entity must do
to be successful, such as quality measures, customer service, or efficiency.
12.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
13.Cumulative distributions - ANSWER The probability that a random
variable will be found at a value less than or equal to a given number
14.Customer satisfaction - ANSWER A measure of the extent to which
customers are satisfied with the products and related services they received
from a supplier.
15.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.
,16.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
17.Analytics - ANSWER The discovery, analysis, and communication of
meaningful patterns in data.
18.Autocorrelation - ANSWER A relationship between two variables that is
inherently non-linear
19.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.
20.Bar chart - ANSWER A graph that measures the distribution of data over
discrete groups or categories.
21.Benchmarks - ANSWER Standards or points of reference for an industry or
sector that can be used for comparison and evaluation.
22.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
23.Blind Study - ANSWER A study performed where the participants are not
told if they are in the treatment group or control group
24.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.
, 25.Business process - ANSWER A sequence of logically related and time
based work activities to provide a specific output for a customer.
26.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
27.Cluster Analysis - ANSWER The process of arranging terms or values
based on different variables into "natural" groups
28.Cyclicality - ANSWER Repetition of up (peaks) or down movements
(troughs) that follow or counteract a business cycle that can last several
years
29.Data Management - ANSWER The management, including cleaning and
storage, of collected data.
30.Data Mining - ANSWER the process of discovering patterns in large data
sets; performed on big data to decipher patterns from these large databases
31.Data Set - ANSWER A collection of related data records on a storage
device.
32.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
