WGU C215 Study Guide - FINAL

C207 - Data-Driven Decision Making - Pre-Assessment Leave the first rating Students also studied Terms in this set (72) Western Governors UniversityC 214 Save WGU C215 Study Guide - FINAL 218 terms kenneth4831Preview C207 Pre-Assessment 69 terms rcdupuyPreview WGU C207 Data Driven Decision Ma...188 terms rachel_saldana7 P Preview WGU C 67 terms ctca Analytics is a broad term that refers to a variety of tools that inform managerial decisions.Prescriptive What are two reasons for the increasing use of analytics in organizational decision making?Relatively lower cost of computer storage Higher computer processing power In what way does probability theory inform decision- making for managers?By quantifying risk Which type of data are the Olympic medals of gold, silver, and bronze examples of?Ordinal data What are some of the aspects of data quality management?It cleans data It reduces the amount of incomplete data.Which two attributes indicate potential data quality issues when evaluating a set of nominal data?Missing data Misspelled data When conducting a study that measures an individual's weight, all scales are calibrated prior to use in measurement. Which type of error should this procedure significantly reduce?Systematic error An advertising manager creates a research study by presenting low, medium, or high frequency of the same ad in matched markets. The manager reports on sales in each market location. What is the term for the different sales in this study?The response variable

A healthcare study follows a particular sample over time to identify how the health habits of teenagers impart their likelihood of acquiring various diseases later in their life in the hope that the healthcare organization will be able to create early prevention programs. Which type of research design does this study describe?Cohort Study Several missing values in a particular field in a dataset were observed. The likelihood of a records having a missing value is correlated to another variable in the dataset. Which two types of error might be introduced into the dataset if the removed record included missing values?Omission Error Systematic Error A company is trying to increase its online sales revenue by improving it e-mail advertising campaign for repeat customers as well as new customers. Which two variables would be used in determining a campaign to maximize revenue gain?Spending per purchase Number of purchases per e-mail A company that raises turkeys is hoping to increase the rate of growth of the birds while controlling the cost of feeding the birds. It has determined that feeds containing both nutrients and protein can be used. Which decision- making technique is most appropriate for this company to minimize the cost of feeding the birds?Linear programming Understand effective marketing to spend advertising dollars efficiently.Correlation Compare outcomes of different drug testing results. ANOVA Monitor production processControl charts A researcher concludes that bananas create healthy children because the researcher's notes indicate that children who eat a banana every day are healthy. Which misuse of statistics would this study be an example of if these children also eat a balanced diet and exercise daily?Confusion of association and causality In the month of December, there is a strong positive correlation between airline ticket sales and retail sales.Which question should the researcher consider before concluding that the correlation statistic implies that airline sales drive retail sales?Does a causal relationship truly exist?

A medical care provider determines the probability that a patient needs treatment for a broken bone, the probability that a patient needs treatment for a concussion, and the probability that a patient needs treatment for both a broken bone and a concussion.Which two techniques apply in finding the probability that a patient needs treatment for a broken bone and a concussion?Multiplication principle Intersection A hardware store has found that there is a 0.25 probability that a customer buys an electrical product, a 0.45 probability that a customer buys a plumbing product, and a 0.10 probability that a customer buys an electrical part if the purchase a plumbing part. Given this information, which statistical rule can be used to determine the probability that a customer buys a plumbing product given that this customer has purchased an electrical product?Bayes' Theorem

Given the following data set:

9 12 14 10 8 11 12

Which is the mode?12 Which graphical tool is used to illustrate a possible relationship or correlation between two variables?Scatterplot What does it mean when an individual data point has a z- score of -2?The data point is two standard deviations less that the mean of the data set.A research study examined the impact of product advertisement exposure on that product's brand awareness. The appropriate statistical test indicates that the null hypothesis should be rejected with 95% confidence. What can be concluded from this study?The advertisement was effective in building brand awareness.A manager is analyzing a dataset that includes information on individual incomes. The manager knows that the dataset is fairly representative of the general population and includes several millionaires. Based on this dataset, which measures of central tendency best represents the middle of the distribution?Median After evaluating manufacturing times for a particular product, a manager determines that the times are spread out across the distribution. The manager has been asked to determine how far, on average, the time is from the mean. Which statistic roughly measures the average distance of a data point from the mean of the distribution?Standard deviation

The number of customers that an automobile service shop receives on any given day is normally distributed with a mean of 75 and a standard deviation of 25. On a given day, 125 oil changes are performed. What is the probability on a given day of 125 or fewer oil changes performed?

97.5% A nonprofit organization ran an e-mail campaign with three different messages to solicit additional donations.What should the nonprofit organization use to determine if the average donation differs for the different messages?

ANOVA A manager of a call center is in charge of creating a staffing plan. The number of calls received per day is normally distributed. Which two statistics would be needed in order to estimate the number of calls that would be received 95% of the time?Standard deviation Mean A hospital gathers the blood pressure readings of a sample of patients. They find that mean, median and mode of this data set are all nearly equal and that 50% of the blood pressure readings are less than the mean and 50% are greater than the mean. Which histogram would correctly graph this data set?#3 - Bell Curve Shape A normally distributed data set has a mean of 10 and a standard deviation of 2. What is the probability that a randomly selected event from the data set will be between 8 and 12?

68.2% A manager uses a linear regression to examine how the store's retail sales are predicted by advertising expenditures. What will retail sales represent in this regression?The dependent variable An analyst used multiple linear regression to explore how Store A's sales (y) are predicted by Store A's advertising expenditure dollars (variable x1) and the advertising expenditure dollars of Store A's competitor (variable x2).The estimated regression is y=532 + 80.5x1 - 35.6x2. Which scenario would be predicted if x1 is $1,000 and x2 is also

$1,000?

Sales of $45,432 A company decides to auction excess inventory on an auction website. They have performed a regression analysis to identify how the length of the auction impacts the final price. Which statistic indicates the strength of the relationship between the length of auctions and final price?R-squared