Wgu C207 Data Driven Decision Making Study Guide Graded A+

Control Chart {Ans: Determines whether a process should undergo a formal exam for quality.}KPI - Key Performance Indicators {Ans: Key Performance Indicators - Dashboard featuring charts and graphs. Advantages: Able to educate management Can be used for the entire organization Data - driven, quantifies performance Can be used for benchmarking over time Disadvantages: Expensive and time consuming Requires ongoing maintenance Small changes may seem significant, but in reality may not have an impact Provides only a rough guide Difficult to change}IQR (Inter-quartile Range) {Ans: The difference in value between the bottom and the top 25% of the sample.}Scatter Diagram {Ans: A graphic that uses dots to show relationships or correlations between variables}Linear Regression {Ans: Describes data and explains the relationship between one dependent variable and one more independent variables. Predictive analysis. Linear relationship between two variables can be measured by its strength}Z-Score {Ans: Data points only. Measurement of a scores relationship to the mean. A statistical measure that indicates the number of standard deviations a data point is from its mean.}