Page 1 of 119
1
WGU C207 DATA-DRIVEN DECISION-MAKING
FINAL EXAM A, B &C LATST 2024-2025 ACTUAL
QUESTIONS AND CORRECT ANWERS
WGU C207 Data-Driven Decision-Making Final Exam A Jane works for a public health company. She is working on an anti-tobacco campaign and is interested in how smoking cigarettes affects a smoker's cholesterol. She could use the number of cigarettes smoked per day as her _____ variable and place it on the __-axis. - ANSWER- independent, x
We perform a regression analysis on a pair of variables and determine that there is a linear relationship. The regression line is determined to be y=12x−5y=12x-5. What type of linear relationship exists between the independent variable, x, and the dependent variable, y? - ANSWER-positive
describe R-squared? - ANSWER-a) R-squared measures the goodness of fit.
b) R-squared can be misleading if there are false independent variables.
c) R-squared is 1.0 when correlation is -1 or 1.
Which of the following are technique a manager uses when forecasting? - ANSWER-A)Time Series
c) Associative 1 / 4
Page 2 of 119
2
d) Judgmental
Which of the following are advantages of cluster analysis? - ANSWER-b) It sorts individual data points into different groups.
c) It will not help in determining target markets.
d) It does not identify successful and unsuccessful habits and systems.
A trend is... - ANSWER-a general slope upward or downward over a long period of time.
If there is a relationship between variables, but the relationship is not linear, what possible challenge with regression could it be? - ANSWER-Polynomial Regression
Catherine is trying to sell a ticket to the Super Bowl. She is determining whether or not she should sell a ticket now or wait until just before the game and try and sell it then. Currently, someone is offering $350 for the ticket. From research of past prices, she knows that the tickets immediately before the Super Bowl are sold for about $500. She determines that there is a 75 percent chance she will be able to sell the ticket immediately before the Super Bowl. Based on expected payoffs from risk decision making, what should she do? How much is the difference if she chooses to sell now - ANSWER-Catherine should wait to sell ticket; the difference will be $25.
- / 4
Page 3 of 119
3 Heteroscedasticity - ANSWER-A regression in which the variances in y for the values of x are not equal
Cumulative Average-Time Learning Model - ANSWER-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 doubled
Dependent Variable - ANSWER-The variable whose value depends on one or more variables in the equation; typically the cost or activity to be predicted
Independent Variable - ANSWER-The variable presumed to influence another variable (dependent variable); typically it is the level of activity or cost driver
Analysis of Variance (ANOVA) - ANSWER-A statistical method that helps identify the sources of variability by comparing their means or averages; it compares the variation within a sample to the variation between samples to see if any differences are the result of some contributing factor or if the differences occur by chance alon
Experience Curve - ANSWER-A curve that shows the decline in cost per unit in various business functions of the value chain as the amount of these activities increases
- / 4
Page 4 of 119
4 Crossover Analysis - ANSWER-Allows a decision maker to identify the crossover point, which represents the point at which we are indifferent between the plans
Cyclicality - ANSWER-Repetition of up (peaks) or down movements (troughs) that follow or counteract a business cycle that can last several years
Linear Programming - ANSWER-A mathematical tool used to optimize a function (the objective function) subject to various constraints, all of which are linear. Often used to find the combination of products that will maximize profits or minimize costs
Simple Linear Regression - ANSWER-A form of regression analysis with only one independent variable
Regression Line - ANSWER-the "line of best fit" where the margin of error at every point is minimized
Data Management - ANSWER-The management, including cleaning and storage, of collected data
Random Variation - ANSWER-The variability of a process which might be caused by irregular fluctuations due to chance that cannot be anticipated, detected, or eliminated
- / 4