WGU C207 Data Driven Decision Making (latest 2023) (Verified answers)

Pareto Chart - correct answer Contains both line and bar graphs. Ordered by frequency of occurrence that shows how many results were generated by each identified cause. Cause and Effect Diagram - correct answer Shows the causes of a specific event. Check Sheet - correct answer Collect data in real time. Control Chart - correct answer Determines whether a process should undergo a formal exam for quality. Histogram - correct answer Graph representing the distribution of numeric data. Measures how continuous data is distributed over various ranges. Example: Displays how many people fall in various ranges of height. Scatter Diagram - correct answer A graphic that uses dots to show relationships or correlations between variables Flow/Run Chart - correct answer Shows the workflow process Bar Chart - correct answer Graph of schedule-related info. Example: Measures how many people are from each state. Box - Plot - correct answer Used while studying the composition of a data set to examine the distribution (non - parametric data) uses median and percentiles rather than averages. (Look for Spread and Median.) Dependent Variable - correct answer Dependent upon the Independent variable Independent Variable - correct answer Variable the drives the dependent variable Range - correct answer Difference between the lowest and highest number in a data set. Example: 4,6,9,3,7 Range = 9-3 =6 T-Statistic - correct answer Statistic (derived from a sample) used in hypothesis testing. Determines if 2 sample means are significantly different from each other. Central Limit Theorem - correct answer Distribution of average of a large number of independent, identical, variables will be approximately normal. OR the idea that if a large enough number of samples is taken, the means of those samples will be normally distributed around the population mean. F-Statistic - correct answer Value you get when you run an ANOVA test or a regression analysis to find out if the means between two populations are significantly different. ANOVA - correct answer (Analysis of Variance) - Collection of statistical models used to analyze the differences among group means, (Three or more groups) Compares samples over different times. Uses same software as regression, but takes multiple sets of data and tries to find the difference between the groups. At least three groups of data and sees if there is any statistical value. Used to determine if there is a significant difference among three or more means. Linear Regression - correct answer Describes data and explains the relationship between one dependent variable and one more independent variables. Predictive analysis. Linear relationship between two variables can be measured by its strength Strong Linear - correct answer Bunch around a straight line Weak Linear - correct answer Scattered Negative Linear - correct answer When one values decreases as the other increases Positive - correct answer When both values increase together. Correlation Coefficient - correct answer The strength of a linear relationship. A number between -1 and 1 Close to 0 means a weak linear relationship Closer to -1 or 1 means strong linear relationship Equal to exactly -1 or 1 considered perfectly linear Negative linear relationships have correlations less than 0 Strong linear relationships have correlations great than 0 Correlation - correct answer A and B may happen at the same time, but may not be related. R - Squared - correct answer The term "R-squared" or "R2" provides a measure of "goodness of fit." Chi - Squared - correct answer Assess the goodness of fit between observed values and those expected theoretically. A chi-squared test is commonly used in statistics to draw inferences about a population, by testing sample data. A chi-squared test is employed for categorical data. Linear Programming - correct answer Used to achieve best outcomes such as maximum profit or lowest cost. Give key points. Cross over Analysis - correct answer Usually doesn't have revenue. Finds the intersection of two lines and shows which option is cheapest. Interval Data - correct answer (Integer) Data this is ordered within a range with each data point being an equal interval apart. Example: Level of happiness, degrees in Fahrenheit. Nominal Data - correct answer Called "Categorical Data" or "Qualitative Data", data type is used to label subjects by order of name. Breaks results into categories, like days of the week, or states of the United States of America. Valid Data - correct answer Data from a test that accurately measures what it is intended to measure. Reliable Data - correct answer Data that is consistent and repeatable. Ration Data - correct answer Data that is ordered within a range with each data point being an equal interval apart, also has a natural zero point which indicates none of the given quality. Example: Height, Age. Ordinal Data - correct answer Data that is set into some kind of order on a scale. Example: Athletes on the podium during the Olympic games. Continuous Data - correct answer Data that can lay along any point. Example: Height, Run Times Discrete Data - correct answer Data that can only take on whole values and has clear boundaries. Example: Number of students in a class room. Inferential Statistics - correct answer Used to make predictions about a population from a sample. IQR (Inter-quartile Range) - correct answer The difference in value between the bottom and the top 25% of the sample. Cumulative Distribution - correct answer The probability that a random variable will be found at a value less than or equal to a given number. Confidence Interval - correct answer An internal estimate used to indicate reliability. Complement - correct answer The occurrence of an event not happening, the opposite. Descriptive Statistics - correct answer Statistics that are used to describe a population from observations of that whole population. Standard Error of the Mean - correct answer An estimate of the distance between the sample mean and the population mean. Experience Curve - correct answer Shows the decline in cost per unit in various business functions of the value chain as the amount of these activities increases. Standard Error of the Mean - correct answer Average deviations of the data point from the regression line or curve.