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WGU C207 Questions and Answers with Certified Solutions

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WGU C207 Questions and Answers with Certified Solutions What is the key focus on analysis? ✔✔To predict trends using quantitative data. What are the four levels of measurement? ✔✔1. Nominal ... 2. Ordinal 3. Interval 4. Ratio Nominal data ✔✔is categorical. It has no numerical value. It's not a number. Examples: -the types of pizza you sell -meatball -veggie -cheese (these are labels, they can't be added or subtracted) Ordinal data ✔✔is ranked, but doesn't have a specific value. Example: -the size of pizza (small, medium, large) (we can't add or subtract these but we can put them in sequential order) - order (key word) - no numerical value Interval data ✔✔data is numeric. You can add and subtract it. It has a sequential value. Each value is equally spaced from the previous value. Example: - drink sizes are interval (16 oz, 20 oz, 24 oz) they are equally spaced about (4 oz spaced) Ratio data ✔✔is numeric. Your sales per day are ratio data. Example" - 10 sales of $12.99 a piece = $129.99 (the value has a true value from zero) To challenge the validity and reliability of data, ask two things. ✔✔Are there any outliers and are there any errors? Outliers ✔✔Don't throw them out. Do them in both ways. Example: last week, you were closed for two days for renovations. Sales were a zero for those two days. That's an outlier. You include the outliers to know how its effecting your bottom line. 2 categories of errors ✔✔1. Random 2. Systematic Random error ✔✔is something that happens just once and will not repeat over time. Example: if you are trying to find average delivery times and one delivery was effected by a four hour Chicago traffic delay, that's random. Systematic error ✔✔is when your deliveries (exam [Show More]

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