WGU C207 DATA DRIVEN DECISION MAKING Study guides, Class notes & Summaries

WGU C207 Data Driven Decision Making Final Self Assessment Exam Questions and Answers (2022/2023) (Verified Answers) Amanda is measuring the temperature. She looks at the thermometer and sees that it is somewhere between 65 and 66 degrees Fahrenheit. She is okay with the temperature in between two integers because she knows temperature is not ________ data, but temperature is _________ data. Discrete, Continuous The first stage of Davenport and Kim's Three Stage Model of quantitative decis...

WGU C207 Data Driven Decision Making Questions and Answers Latest (2023 / 2024) (Verified Answers)

WGU C207 Data Driven Decision Making Objective Assessment Questions And Correct Detailed Answers Complete Solution Analytics is a broad term that refers to a variety of tools that inform managerial decisions. - ANSWER--Prescriptive What are two reasons for the increasing use of analytics in organizational decision making? - ANSWER--Relatively lower cost of computer storage Higher computer processing power In what way does probability theory inform decision-making for managers? -...

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1. For companies to attract and retain their best customers they need a com- plete portrait of who they are. To develop this portrait companies turn to... a. Statistics b. Analytics c. Management Science d. Histograms ANS : b 2. A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve this goal? a. Descriptive Analytics b. Predictive Analytics c. Prescriptive Analytics d. Diagnostic Analytics A...

1. For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... A) Statistics B) Analytics C) Management Science D) Histograms ANS : B 2. (Quiz 1) 2. A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve this goal? A) Descriptive Analytics B) Predictive Analytics C) Prescriptive Analytics D) Diagnostic ...

1. Analytics is a broad term that refers to a variety of tools that inform man- agerial decisions. Which term can be used to describe managerial decisions?- ANS Predictive 2. What are two reasons for the increasing use of analytics in organizational decision making ANS Relatively lower cost of computer storage Higher computer processing power 3. In what way does probability theory inform decision-making for managers?- ANS quantifying risk 4. Which type of data are the Olympic medals o...

1. Two types of statistics (Analytics) ANS Descriptive and Inferential 2. Descriptive statistics are used to ANS Inform / Explanatory 3. Inferential statistics are used to ANS Predict / Trend 4. Name the 4 levels of measurement ANS (NOIR) Nominal, Ordinal, Interval, Ratio 5. Continuous data with unique zero point ANS Ratio 6. Orders data at equal distance apart ANS Interval 7. Place qualitative objects in some kind of order ANS Ordinal 8. Identify, Group, or Categorize ANS Nominal