WGU C207 Data-Driven Decision-Making Exam (NEW 2023/ 2024 Update) Questions and Verified Answers- 100% Correct
QUESTION
a comparison of the same
... [Show More] quantity of goods with the same weight over a period of time
Answer:
Laspeyres Index
QUESTION
A graph that illustrates relationships between two changing variables with a line or curve that connects a series of successive data points
Answer:
Line graph
QUESTION
The minimum value on a control chart that a process should not exceed
Answer:
Lower limit control
QUESTION
An average, calculated by adding a series of elements in a data set together and dividing by the total number in the series
Answer:
Mean
QUESTION
A prejudice in the data that results when the sample is not representative of the population being tested
Answer:
Measurement Bias
QUESTION
The value or quantity lying at the midpoint of a frequency distribution
Answer:
Median
QUESTION
A multiple regression equation is flawed because two variables thought to be independent are actually correlated to be independent
Answer:
Multicollinearity
QUESTION
A statistical method used to model the relationship between one dependent (or response) variable and two or more independent (or explanatory) variables by fitting a linear equation to observed data
Answer:
Multiple Linear Regression
QUESTION
When the probabilities of multiple events are multiplied together to determine the likelihood of all of those events occurring
Answer:
Multiplication Principle
QUESTION
When two or more events are not able to occur at the same time
Answer:
Mutually exclusive events
QUESTION
A management tool designed to collect data indicating the relative loyalty of customers and their willingness to recommend a company's products or services.
Answer:
Net Promoter Score
QUESTION
Sometimes called categorical data or qualitative data, this data type is used to label subjects or data by name
Answer:
Nominal Data
QUESTION
A test that does not assume there to be a structure (may be a normal distribution) to the population.
Answer:
Non parametric test
QUESTION
compare an individual to other individuals
Answer:
Norm-referenced test
QUESTION
data tending to occur around a central value with no bias right or left
Answer:
Normal distribution
QUESTION
The argument that there is no difference between two samples or that a sample has not changed over time
Answer:
Null hypothesis
QUESTION
An error because something (for example, data or survey response) is missing.
Answer:
Omission Error
QUESTION
Earnings before Interest and Taxes.
Answer:
Operating Income [Show Less]