WGU C207 Data Driven Decision Making
2022/2023
1.Activities (RBM stage): second step involves the process that
converts inputs to outputs (actions necessary to produces results - training, evaluating, developing)
2.Alternative hypothesis: The argument that either a sample is not
equal to, greater than, or less than the hypothesized null sample
3.Analysis of Variance (ANOVA): a technique used to determine if there
is a sufficient evidence from sample data of three or more populations to conclude that the means of the population are not all equal
4.Analytics: The discovery, analysis, and communication of meaningful
patterns in data.
5.Autocorrelation: A relationship between two variables that is
inherently non-lin- ear
6.Balanced Scorecard: An approach using multiple measures to
evaluate per- formance, including financial measures, and the non- financial measures of cus- tomers, internal business processes, and learning and growth.
7.Bar chart: A graph that measures the distribution of data over
discrete groups or categories.
8.Benchmarks: Standards or points of reference for an industry or 1 / 3
sector that can be used for comparison and evaluation.
9.Big Data: very large amounts of data; an all-encompassing term for
any collec- tion of data sets so large and complex that it becomes difficult to process them using traditional data processing applications
10.Blind Study: A study performed where the participants are not told
if they are in the treatment group or control group
11.body mass index (BMI): A measure, based on a person's weight and
height, that is used to classify people as underweight or overweight.
12.Business process: A sequence of logically related and time
based work activities to provide a specific output for a customer.
13.Central Limit Theorem: A theorem that states that, the greater the
sample, the closer the mean of the sample is to the entire population and the more the results will look like a normal distribution
14.Cluster Analysis: The process of arranging terms or values based on
different variables into "natural" groups
15.Cointegration: Occurs when two time series are moving with a
common pattern due to a connection between the two time series 2 / 3
16.Combination: The number of different unordered possibilities for
a certain situation.
17.Complement: The occurrence of an event not happening, the
opposite
18.Confidence interval: An interval estimate used to indicate reliability
19.Continuous Data: Data that can lay along any point in a range of
data
20.Control chart: A graphic display of process data over time and
against estab- lished control limits, and that has a centerline that assists in detecting a trend of plotted values toward either control limit.
21.Control limits: The area composed of three standard deviations on
either side of the centerline, or mean, of a normal distribution of data plotted on a control chart that reflects the expected variation in the data
22.Criterion-reference test: compare an individual to certain defined
standards
23.Critical Success Factors: The important things an entity must
do to be successful, such as quality measures, customer service, or efficiency.
24.Cumulative Average-Time Learning Model: A learning curve model in
which the cumulative average time per unit declines by a constant percentage each time the cumulative quantity of units produced is
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