Wpc 300 Exam 1, Stata Study Guide (Latest 2024 / 2025 )

Hypothesis {Ans: Proposed explanation for a phenomenon/Educated guess based on an observation or anecdote}A/B Testing {Ans: a method of comparing two versions of a webpage or app against each other to determine which one performs better. AB testing is essentially an experiment where two or more variants of a page are shown to users at random, and statistical analysis is used to determine which variation performs better for a given conversion goal.}Descriptive {Ans: What do we have, What happened? When? What types of customers do we have? Useful for customer profiling, visualizations, operational reports/dashboards}Theory {Ans: Generalizable explanations/Supported by repeated tests/Testable and can be refuted or falsified/Considered valid as long as there is no evidence to dispute it/Has a boundary}Gold standard in experiments {Ans: Double blind randomized experiment}randomization {Ans: The best defense against bias, in which each individual is given a fair, random chance of selection}