Summary Wgu C207 Exam Q&a

Proportion {Ans: A type of ratio where the number of observations that are part of a specific group is compared to the total relevant population.}Omission Error {Ans: An error because something ( for example, data or survey responses) is missing.}Cumulative Incidence {Ans: The number of new cases in a time period. CI= Number of new cases in a time period/Population}Irregularity {Ans: One-time deviations from expectations caused by unforeseen circumstances such as war, natural disasters, poor weather, labor strikes, single-occurrence company-specific surprises or macroeconomic shocks}Homoscedasticity {Ans: A regression in which the variances in y for the values of x are equal or close to equal}Probability functions {Ans: Functions that assign probabilities to values of a random variable, determine the information in a probability distribution. Needs to have the sum of the probability values equal to one and also needs each probability value to be greater than zero and less than one.}