WGU C207 Data-Driven Decision Making (Latest 2023/ 2024 Update) Vocabularies with Verified Definitions- 100% Correct
WGU C207 Data-Driven Decision Making
(Latest 2023/ 2024 Update) Vocabularies with
Verified Definitions- 100% Correct
V: Independent Events
Answer:
Events that are not effected by other trials or events,
V: Complimentary events
Answer:
Events with two outcomes that are the only possible outcome. Like flipping a coin.
V: Conditional Probability
Answer:
The probability of an event occurring, given that another event has already occurred.
P(B|A) = P(A and B)/P(A)
V: Dependent Events
Answer:
An event that is affected by the previous events.
V: Probability of an Intersection
Answer:
The probability of two independent events happening.
P(A∩B) = P(A) x P(B)
V: Probability of a Union
Answer:
The collection of elements that are both A, B or both A and B.
P (AUB) = P (A) + P (B) – P (A∩B)
V: Mutually Exclusive Events
Answer:
When two or more events are not able to occur at the same time
V: Multiplication Principle
Answer:
When the probabilities of multiple events are multiplied together to determine the likelihood of
all the event occurring.
V: Inferential Statistics
Answer:
Statistics that are used to make predictions about a population from observations of a sample
V: Descriptive Statistics
Answer:
Used to describe a population from observations of that whole population
V: Sampling with Replacement
Answer:
A technique used when each piece of the population can be selected more than once.
If sampling with replacement and taking a sample of size n from a population of z, there are z^n
possible outcomes.
V: Sampling without Replacement
Answer:
A technique used when each piece of the population can only be selected once.
If you take a sample size of n without replacement, there are usually n! (n factorial) possible
outcomes. i.e. n! = 6! = 6 x 5 x 4 x 3 x 2 x 1 = 720
V: Permutations
Answer:
The number of unique ordered possibilities for a certain situation. nPk=n!/(n-k)!
i.e. n= Number of people P= permutations k= number of available seats
V: Factorial Operation
Answer:
n! or i.e. 5!=54321=120
or
3!=321=6
V: Combination
Answer:
The number of unique possibilities for a certain situation. nCk aka the binomial coefficient
n!/k!(n-k)!
V: Baye’s Theorem
Answer:
If you know the probability of event A, the probability of event B, and the conditional
probability of event A given event B, we can determine the probability of event B given event A.
P(A|B) = P(B|A)*P(A) / P(B)
V: Conditional Probability
Answer:
The probability of an event occurring given that another event has occurred.
V: Population variance
Answer:
where:
σ2 = the population variance
μ = the population mean
∑(x – μ)2 = the sum of the squared differences between each data point and the mean. That is,
you square each data point’s difference from the mean, then add these squared numbers together
N= the size of the population
V: Population Standard Deviation
Answer:
where:
σ2 = the population variance
μ = the population mean
∑(x – μ)2 = the sum of the squared differences between each data point and the mean. That is,
you square each data point’s difference from the mean, then add these squared numbers together
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